Buying A Motel Instant

Financing was the next hurdle. While banks are often eager to lend for motels because they are seen as solid investments, the Millers had to present a rock-solid business plan. They secured a loan and officially took over the keys on a rainy Tuesday in April.

They hired a specialized motel broker and an accountant to dive into the finances. They spent weeks reviewing three years of financial statements and occupancy reports to ensure the business was actually profitable. During their due diligence, they didn't just look at the books; they walked the property, checking the back areas for signs of neglect and ensuring the building was structurally sound. buying a motel

: Understand if you are buying the land and building (freehold) or just the right to run the business (leasehold). Financing was the next hurdle

If you'd like to dive deeper into the process, I can help you with: A How to evaluate a motel's profit and loss statement The pros and cons of franchise vs. independent motels They hired a specialized motel broker and an

: Check the "hidden" areas of the property; if the staff areas are clean, the rest of the motel likely is too.

💡 : Check the occupancy reports for the last 12 months to see seasonal trends before making an offer.

Despite the long hours—often reaching 60+ per week—the satisfaction was immediate. They loved meeting travelers and building relationships with returning customers. The flexibility of living where they worked and the potential for a high return on their investment made the transition worth it. They weren't just running a business; they were building a new life, one guest at a time. Key Considerations for Buying a Motel