Buying A Motel Direct
đź’ˇ : Check the occupancy reports for the last 12 months to see seasonal trends before making an offer.
Jack and Sarah Miller decided to trade their high-speed corporate lives for a 14-room roadside motel in the Catskills. They were tired of the 9-to-5 grind and wanted a business they could run together while living on-site. buying a motel
: Be prepared for a "24/7" lifestyle where your home and work life are fully integrated. đź’ˇ : Check the occupancy reports for the
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. : Be prepared for a "24/7" lifestyle where
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.
: Understand if you are buying the land and building (freehold) or just the right to run the business (leasehold).
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
