How do I determine how much I can afford before I begin shopping for a B&B/Inn?
Answer: A pre-qualification involves the review of a loan application and supporting documentation and is comprised…
News / Articles / Information and Resources for Bed and Breakfast Inn Owners and Aspiring Innkeepers; Financial Related Articles; Articles about loans to purchase or refinance an Inn.
How much do I need to have for a down payment to purchase an inn?
Answer: Buyers should have 30% to 40% of the project cost to cover the following: Down…
How can I know how much of a loan I need to purchase the “Inn of my/our dreams?”
Answer: A LOI (Letter of Interest or Term Sheet) in commercial lending is issued after a…
How long will it take, beginning to end, to close once we have identified the Inn of our dreams?
Answer: After the offer and contract have been negotiated and accepted, the mortgage contingency period will…
How do I determine a fair offering price for the inn/s I am considering?
Answer: A knowledgeable “B&B Industry Specialist Realtor” should be engaged very early on to consult on…
Can I really use my retirement funds to open a business without taxes or penalty?
Answer: In most cases, yes. Our plans are designed to meet the IRS requirements for qualified…
What if my accountant (or lawyer) isn’t familiar with this type of financing plan or isn’t sure it could be done?
Answer: Retirement planning is a highly specialized field; for this reason, we recommend that you use…
What if I have more than one retirement savings account?
Answer: Not a problem. You can consolidate all your retirement accounts in the new retirement plan.
What should I look for when shopping for the inn of my dreams?
Answer: Aspiring innkeepers should attend industry conferences and aspiring seminars to get a feel for the…
Are inns offered “For Sale by Owner” worth considering?
Answer: They could be, but it is difficult for a seller to impartially establish the value…
Using Retirement Assets to Purchase a Bed & Breakfast or Country Inn
Few investors or entrepreneurs realize that they have the ability to self-direct their own retirement assets. Most believe the only two options are to borrow or withdraw from their account/s if they wish to invest in real estate or purchase/start up a new business. The downsides are…
- Borrowing from the account/s would require repayment of the principal with interest
2021 Inn Financing Update
By Richard K. Newman, Founder - Commercial Capital Network, LLC The last time we had interest…
Determine Market Value Before Marketing Your B&B or Country Inn
All Bed & Breakfasts/Inns are unique by design; in fact, it is that special and unique…
Tips for Innkeepers Preparing for a Sale of a Bed & Breakfast or Inn
Conventional wisdom among B&B/Inn consultants is that an innkeeper should have an exit strategy the day…
Six Myths About Inn Financing
By Rick Newman, Founder of Commercial Capital Network 1. Any bank will finance the purchase of…
Prequalification for a Loan
The Prequalified Buyer™ evaluation and designation provides Aspiring Innkeepers a credible way to quantify how much…
What should I look for when shopping for the inn of my dreams?
Aspiring innkeepers should attend industry conferences and aspiring seminars to get a feel for the kind…
How much do I need to have for a down payment to purchase an inn?
Buyers should have 30% of the project cost to cover the following: Down Payment – 10%…
Are inns offered “For Sale by Owner” worth considering?
They could be, but it is difficult for a seller to impartially establish the value of…
How do I determine a fair offering price for the inn/s I am considering?
A knowledgeable “B&B Industry Specialist Realtor” should be engaged very early on to consult on matters…
