[Fredslist] Client looking to purchase hotel/motel.

[Charles Schreiber]

I have a client that wants to purchase a hotel. He has a cash budget of $250K and a reserve budget of $50-100K. 
He is looking for a motel in the $500K-$1 million range. Any advice regarding location and valuation would be greatly appreciated. 


Charles F. Schreiber Vice President, Lending
Greater New York Development Co.(GNYDC) / 
 Long Island Development Corp. (LIDC) 
45 Seaman Avenue Bethpage, NY 11714
866 433-5432 516-433-5000, x1025
cschreiber at GNYDC.org 
www.lidc.org 
www.gnydc.org
Greater New York Development Co. a Division of Long Island Development Corp. is a regional economic development, not-for-profit corporation which makes long term, affordable loans to small businesses. GNYDC is not a bank, but it is the premier small business lender in the NY Metro Area. GNYDC also provides technical assistance for companies wishing to do business with federal, state and local government and large corporate entities. GNYDC's mission is to encourage economic stability and growth in Long Island, New York, New Jersey and Connecticut.


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