by Peter Scherman of The B&B Team In life we all look for advice. We turn to doctors, lawyers, accountants and mechanics without a second thought. But surprisingly, too many people fail to seek out advice when it comes to the largest transactions of their lives. Did you ever hear about the couple that spent […]
Knowing When To Ask For Help Read More »
by Peter Scherman of The B&B Team The reality of selling a bed and breakfast is a complex one. There are offers, counter offers, discussions of price and terms, lawyers or agents to prepare contracts, accountants to confirm financial information, inspectors to determine soundness, and numerous other professionals who all play a role in the
Lead Paint: What’s the Deal? Read More »
by Peter Scherman of The B&B Team Inn broker. Consultant. Real estate agent. Is there a difference? Should you care? The answer is yes to both questions, because one day you’ll be selling the inn you may be just thinking of buying today. The function of an inn broker or a consultant is different, and
Our Inn is For Sale! A Professional’s Perspective Read More »
by Peter Scherman of The B&B Team Last summer The B&B Team received a call from innkeepers who were planning a major expansion to their inn. They had looked at the land, the building, had preliminary drawings from their architect, had spoken with two banks, and were ready to move forward. Here’s how they described
The Bus To Abilene, or, “To add-on, or not to add on?” Read More »
by Peter Scherman of The B&B Team Whether you are thinking of buying an inn or already own one, at some point you’ll be involved in a transaction to transfer ownership of that inn. Whether you have a four room B&B or a 25 room full service inn, there are certain common elements that must
The Components of Inn Value Read More »
by Rick Wolf of The B&B Team All the recent news would indicate we are now entering a period of sluggish sales, inflated prices, and higher interest rates. What does this mean for the seller?…lower selling prices and a loss of control over the sale of their bed & breakfast inn? What does it mean
Winning in a Buyer’s Market Read More »
by Doug Carleton of Business Lenders, LLC How much an inn is worth is always a popular topic in the bed & breakfast industry. To an innkeeper who has invested capital, a number (maybe a lot) of years and, most of all, a tremendous amount of emotional and physical energy, the inn has one value.
What Is An Inn Worth? How Lenders Look at Value Read More »
by Rick Newman of Commercial Capital Network, LLC Very few investors/entrepreneurs realize that they have the ability to finance the purchase of a business with retirement funds. Most people believe that there are only two options available to them if they want or need to access capital from their plan/s, namely, either borrowing from the
Use Your IRA/401-K To Finance Your B&B Purchase Read More »
by Doug Carleton of Business Lenders, LLC Let your mind roam ahead in time for a moment. You have put your property on the market and you now have an offer. The buyer is going to apply for a mortgage. Let me suggest to you how what you are doing today, or not doing, can
Someday You Will Sell, Help Your Lender Say Yes Read More »
by Doug Carleton of Business Lenders, LLC Seller financing is often used in the bed and breakfast industry as a way to facilitate sales. It may be the first mortgage, or, it may be a second mortgage in conjunction with a first mortgage provided by a traditional lender. Let’s take a look at some of
Financial: Seller Financing, The Good, the Bad, and the Ugly Read More »
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