Example: Purchasing a Hotel / Pub, No Money Down.

@larrylarry was interested in how to acquire a hotel, without reaching into the wallet and disturbing the moths. There is a method, that we have used to purchase properties such as this.

The Hotel, that I'm using as the reference, is described as having 3 x bars, (2 x main and a lounge bar) a restaurant / function room, a conference room (with small bar), accommodation, both outside units for backpackers and or holiday campers and internal rooms, for business and or holiday makers.

There is an outside area for eating and relaxing, there is no pool or spa. The Hotel is on a lakes edge and situated next door to an unused Golf Course. A development application for a new Hotel to be built on the existing site with a Marina has been proposed by us and not yet submitted. Council is yet to determine if the use is suitable. Also the lake owners have been consulted as well. The Lake is used as a source of energy to power a hydro electric dam, so consideration is needed for flood waterways.

Some internal work has been carried out already and photos can be uploaded, including the original selling documents (edited) and a sample of the contract used (edited) to purchase the property and other associated documents supplied by the Seller and the Real Estate.

 

That is a nice description of the hotel.

 

And how was it purchased ?

 

yes - the 'how'!

 

When I upload the "how", you can have a look.

 

Cool, looking forward to it.

 

The description is far better than what the hotel actually looked like. The whole place was built in the late 1950's. Some repairs had been done, but how they passed a council review is beyond me. Shoddy is not the word.

 

I'm looking forward to the execution method. Who wouldn't want to own a pub... Making money is another thing

 

buy the freehold and sell a lease

 

So everyone's on the same page and there's no confusion, all reference marks to "where and who" will be removed from the info, including any doc's, pdf's and photo's. The locality of the Hotel is not important, it is the method used to purchase it. The old saying, "sell the sizzle" not the steak.

I have removed all our company logo's from all the pics, that way I am not promoting our company or promoting anyone else, that was involved in the transaction. As I am not a business member, you will find this is well within the forum rules. Any references to legal and vendor have also been removed, including their associated parties. All doc's supplied by various Govt's and Councils have had "their" reference and plot numbers removed as well.

Everything that will be uploaded is to be used as reference material, I make no guarantee, that if you put it to use, you will secure a purchase. No two people think the same when using the same method. The sample contract, that I will supply is for "This Hotel Only", if you wish to use it for your own needs, you will need to make changes to suit the property advertised and your intended end use. If you don't adhere, to the above, you might find yourself owning something, that is way out of your depth, or you may suffer financially or legally down the track.

There are also stringent laws and licenses to obtain, including booze, supplier and poker machine entitlements. If you have a dodgy past, then you can stop reading, right here..!!!

I will upload the doc's in a simple step by step method, so everyone can understand, from initial inquiry to final signing.

 

I will reply to all serious comments, if you haven't received a reply to your comment, it's more than likely due to the childish remark and the fact, your now included on my ignore list.

 

@BurnettGroup thanks. Looking forward to your contribution.

 

The first set of doc's, I will upload will be the emails between us and the sellers RE-Agent. A routine but harmless background check was first done on the Agent, to gauge how he would respond and react to our initial inquiries. Once we knew his track record and his approach, we could then build some sort of rapport. This is important.

Some RE-Agents are different than others and can be either, straight down the line, with no deviation, or relaxed and willing to let a little more information slip out than usual, to get that sale. If the Agent tends to be a tuff nut, your going to find it hard to get the deal over the line.

 

I don't see any example of purchasing a pub. Lots of suspense, but nothing tangible.

 

Yes - a lot of sizzle, but no steak.

 

Give him a chance people, I'm interested to hear more..

 

Information will be posted in a chronological order, if this isn't too everyone's taste, then tough. There are people, on this forum, who would like to know how to do it properly, from start to finish. All info from my emails to govt doc's is important in the process. Any info provided maybe useful to some, but perhaps not too others.

 

Hi Burnett, maybe you could provide the haters a timeline of when the chronological information will be posted? I think some people are hungry for some content.

Generally on a forum people will ensure the opening post in a thread includes some information on the topic, rather than a generalised speel on what is coming up. I've noticed you've done this a couple of times now - perhaps hold off until you're ready to post things up in one go? Theres obviously lots of interest in the topic.

 

If this thread just turns out to be about 100% finance based on net profit multipliers I will be very disappointed