My step mom is from Honduras, and she and my father have been interested in buying this hotel on the beach for a few years. We went down to Honduras for a vacation last week and the owner had dropped the price of the hotel from $250k to $150k. The hotel is RIGHT on the beach. It has 8 rooms on the second floor, and a restaurant on the ground floor. Multiple sources of revenue. The beach does need a little work in the form of trash everywhere, but that's easy enough to clean up. The hotel itself needs to be modernized, and it's going to take some work, but I think it's doable, and I feel like just the land alone may be worth the $150k because it's right on the beach, maybe 2 acres of land. The owner said we could "rent" the property from him for 2 years with the option to buy, so that we can verify that the hotel I'll make enough money to sustain itself as the changes we want to make to it. If after 2 years we decide that the hotel is a bust, we are not obligated to purchase it. We will be consulting a lawyer to make sure we don't kneecap ourselves, but the current owner is the son of the previous owner and he just wants to retire, he doesn't want to be a hotel manager, so he is selling the property. My reservation is that I was going to go for a second bachelor's degree in software engineering in Florida, where I currently live. The thing is, I could pursue my degree online, while taking care of the hotel down south.
Any advice or similar experience is welcome and appreciated.
Submitted January 08, 2017 at 11:33AM by LightOfTheSeven_ http://ift.tt/2iWI6zW
