The Prequalified Buyer™ evaluation and designation provides Aspiring Innkeepers a credible way to quantify how much purchasing power they have as it relates to identifying hospitality properties that best fit their financial qualifications and professional/personal objectives. A Prequalified Buyer™ designation identifies a person or persons as having submitted, the required proofs and documentation for verification and analysis; before identifying or contracting to purchase a specific …
Aspiring Innkeepers
Reporting Agencies and Credit Reports
Note: This material is being provided for general information purposes. This overview is intended to alert the reader to the importance of managing his/her credit. General guidelines, material, and other information are being provided as a courtesy. No representations or warranties are made as to the accuracy or processes covered herein. The Credit Tier Examples listed below are for informational purposes only, as lender guidelines vary. Credit Scores are extremely important to a lender in …
Viable Vs. Lifestyle Inns
Commercial real estate financings are generally presumed to be serviced by the income from commercial property ONLY, as such a Debt Service Coverage Ratio (DSCR) is used to underwrite the loan. The DSCR or debt service coverage ratio is the relationship of a property's annual net operating income (NOI) to its annual mortgage debt service (principal and interest payments). Example: $125,000 in NOI and $100,000 in annual mortgage debt service - DSCR = 1.25 Commercial lenders use the DSCR to …
Financing a B&B / Country Inn
All Bed & Breakfasts/Inns are unique by design. In fact, it is that unique quality that separates one Bed & Breakfast/Inn from the next. Innkeepers invest their energy and capital over time to create a welcoming and hospitable environment that is special to them, their community and valued guests who appreciate the inn and the experience the owners provide. While the charm and ambiance of an inn add to a patron’s experience, such intangibles have only an indirect effect on its actual …
Using Retirement Assets to Purchase a Bed & Breakfast / Country Inn
Few investors/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 …
Assn. of Lodging Professionals
Michigan Bed & Breakfast Assn.
Oregon Bed & Breakfasts