“We had been considering buying a Bed & Breakfast for several years. We stayed at B&B’s regularly and kept our eyes on the market, we also took the opportunity to chat with Inn owners across the country whenever we had the opportunity.”
“Then, 2020 and the pandemic hit us in New York City, and we had a lot of time to consider next steps. We decided to bring our plans forward re: buying a B&B, and several months later, here we are the new owners of Abbington Green!”
“Financing was tough. Of course, the pandemic was a major consideration for the banks, who were (and still are) taking a very conservative approach to lending into the hospitality space. This was even more of an issue for the banks as we were new to the B&B industry, and therefore in their minds, this added a higher risk factor. This is where Rick came in! Through his vast knowledge and expertise in this area, and his relationships with multiple financial institutions and B&B industry professionals and owners, he helped us to put together a compelling business plan and projections. Rick was as committed to the cause as we were. We spent many late nights and early mornings, weekends, etc. working with Rick to accomplish our goal. We truly felt like we were in this together.
Quite simply, it would have been very tough to get to closing on our new property without his coaching, guidance, and friendship to get us through the tenser moments of the deal!”
“You are awesome! Thanks, Rick!”
Cherie & Dean