Unfortunately I have ZERO money to buy a building and start my hotel. How do I get the cash to get my dream up and running. Loans have ridiculous interest rates if they are for huge amounts like the kind of money I need to start my hotel. Is there any way of getting money to buy my first hotel building without huge rates or are there grants out there to help me out??
Thanks
Flakyfresh
2007-06-15 12:44:09 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
if you have good credit score these guys can probally help you it might take some time because they do have to ask alot of questions but its a online and they email you and you talk to just one person my uncle got his pizza shop with these guys and they do up to like a million dollars again depends on your c score so you might wana email this guy and talk to him JRIOS.A75385@mynlc.com i think he as a website too... http://www.rioshomeloans.com/ try both emails and good luck!!!
2007-06-15 20:57:40 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Almost sure that you must find many financial solution at= loandirectory.info-
RE I wanna start my own Hotel chain but...?
Unfortunately I have ZERO money to buy a building and start my hotel. How do I get the cash to get my dream up and running. Loans have ridiculous interest rates if they are for huge amounts like the kind of money I need to start my hotel. Is there any way of getting money to buy my first hotel building without huge rates or are there grants out there to help me out??
Thanks
Flakyfresh
2014-08-19 18:12:11 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Look up info on Small Business Administration or SBA
Most local Banks have Info on these loans to cover business
start up costs including buying real estate for business .
interest rates will be lower on this kind of loan.
Find a hotel That is running but needs better management.
Talk to them about letting you helping manage and owner financing it. You can negotiate your own interest rate.
Look for a partner for a down payment.
2007-06-15 13:48:23 · answer #3 · answered by Kevin M 1 · 0⤊ 1⤋
First get a pastime operating in some lodges. paintings each pastime the individuals do. Then get a pastime operating in a eating position. fairly are conscious of it. Then after about 2 many years of doing both pass in for your self. you've gotten to purchase a small motel first and turn it for a small motel. good success, it gained't ensue over evening.
2016-10-18 22:08:44 · answer #4 · answered by Anonymous · 0⤊ 0⤋
just wondering, what made u decide to go into the hotel business? given that you have no access to capital, it seems like a poor choice of vocation. it's great to have a dream but it's also a good idea to be realistic. sounds to me like you have scarcely any clue what you're getting into. those who can lend out money to entrepreneurs want someone who really knows everything about their chosen field and has a good business plan. if I were lending money I don't think I would write a big check to you.
2007-06-16 04:23:01 · answer #5 · answered by njyogibear 7 · 1⤊ 1⤋
u may get 100% loan try
2007-06-17 15:15:28 · answer #6 · answered by Anonymous · 0⤊ 0⤋