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Looking for down payment and cash reserves for lucrative inn
Posted by: Summer Walden on 8/4/2010 11:13:04 AM
Funding Needed:
$250k - $500k 		Category:
Hospitality & Tourism 		Website :
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Location :
Daytona Beach, Florida, USA 		Viewed : 245 times
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Description:
Looking to purchase a bed and breakfast in the historic area of Daytona Beach. It is one of five bed and breakfasts in the area and has 14 rentable rooms, a conference room, banquet hall, and restaurant. As you can see, the revenue opportunities are highly lucrative since the inn is both a place of lodging and an events location. It is currently bank owned, and the bank will finance. The asking price is 779,000. I am looking for 20% down and cash reserves of 100,000. My goal is to open and/or lease the restaurant within a year of the purchase date. Inn is directly across the street from Halifax Harbor Marina. Great views. Remodeled in 2007. Several interested buyers so time is of the essence. Thank you for your consideration.

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