Hello All,
I'm interested in purchasing a motel complex. It is location perfect (on main roads, near major attractions, parks and water), location can't go wrong. The motel was built in the 50s or so and has great land to add new amenities if need be. My issues sits with the fact that the listing agency states that the land has more value than the structure as well as the fact that upon research I see that the motel has a 1 star rating from patrons all of which reporting poor service, poor rooms (they seem to have been barely updated and I do mean BARELY) and suspicious owners. My question is should I bother in looking into this motel after prior reputations and reports about both the owners and the complex? Is it possible to reinvent the place and indicate that it is not a 1 star place? I does not to get a lot of patrons but I have no idea if its because of the reports or because people just don't want to go there. I've driven by before and visually its not eye catching!!
It is listed as $699,000. I have yet to go see it -- as a considering buyer and INSIDE.
What do you all think? Worth it or not? I'd like to hear your information without the factor of money.
Thanks Everyone!!
[Apologizes if this type of thread exist prior to submission.]
I'm interested in purchasing a motel complex. It is location perfect (on main roads, near major attractions, parks and water), location can't go wrong. The motel was built in the 50s or so and has great land to add new amenities if need be. My issues sits with the fact that the listing agency states that the land has more value than the structure as well as the fact that upon research I see that the motel has a 1 star rating from patrons all of which reporting poor service, poor rooms (they seem to have been barely updated and I do mean BARELY) and suspicious owners. My question is should I bother in looking into this motel after prior reputations and reports about both the owners and the complex? Is it possible to reinvent the place and indicate that it is not a 1 star place? I does not to get a lot of patrons but I have no idea if its because of the reports or because people just don't want to go there. I've driven by before and visually its not eye catching!!
It is listed as $699,000. I have yet to go see it -- as a considering buyer and INSIDE.
What do you all think? Worth it or not? I'd like to hear your information without the factor of money.
Thanks Everyone!!
[Apologizes if this type of thread exist prior to submission.]
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