Any resort buyers on here? Principals only please.
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[{"id": "j0spooy", "text": "I can\u2019t believe anyone would buy anything under a 5 cap. 10 years to profitability?", "replies": [{"id": "j0sqba3", "text": "Mostly for institutional majority of hotels are 50m+ theres still a decent amount of deals happening under a 5cap in ca n ny", "replies": [{"id": "j0sqtk8", "text": "I know it happens but it blows my mind. Logic would say that cap rates chase debt rates. Not hating but I would also bet against you finding any institutional on here. This is seemingly the anti-institution. I hope I\u2019m wrong. \n\nWhy not hire a broker?", "replies": [{"id": "j0src88", "text": "I work with a broker just spreading as i got alot in the pipeline. It doesnt hurt to try also have made a few great connections on here not institutional but you never know who someone else knows", "replies": [{"id": "j0sskhk", "text": "Good luck!", "replies": [], "depth": 5}, {"id": "j0st3if", "text": "Idk how great the connections you make here will be showing sub 5 cap product\u2026", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "j113b8k", "text": "5 caps are dead. Even in CA. Prime is at over 7 now so most people are smart enough to know not to buy a negative return", "replies": [], "depth": 2}], "depth": 1}, {"id": "j0ss7m6", "text": "Sub 5 cap for hospitality?\n\nI love the smell of EXTREME negative leverage in the morning\u2026", "replies": [], "depth": 1}, {"id": "j0t3q6l", "text": "Good luck lol", "replies": [], "depth": 1}, {"id": "j0t593r", "text": "I have a resort at a 10 cap, and a lender ready; $14m\nJust need a real qualified buyer with an actual down payment.\n\nEdit: N Georgia", "replies": [{"id": "j0t82o3", "text": "What market lobsters?", "replies": [{"id": "j0t85al", "text": "North Georgia", "replies": [{"id": "j0thud3", "text": "What type of RE is it? Can it be purchased with SBA?", "replies": [{"id": "j0thxgg", "text": "It's a resort. I don't think SBA is the way to go", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "j0u0rdj", "text": "Dm me the info please", "replies": [], "depth": 2}, {"id": "j0wd94h", "text": "Lender ask for LTV?", "replies": [], "depth": 2}], "depth": 1}, {"id": "j0tzaub", "text": "The resorts arnt sub 5 the resorts are in the Caribbeans.\n\nNow the hotels mainly in ny are sub 5 or barley over 5", "replies": [], "depth": 1}, {"id": "j0tzyzn", "text": "You got brochures/an IM. DM me will fire an email over", "replies": [], "depth": 1}, {"id": "j0u79oa", "text": "Hotels/resorts usually run 30-50% if you are operating them.  \n\nThis will be a difficult sale at 5, even if a quality operating company is running them well.", "replies": [], "depth": 1}, {"id": "j0uqasy", "text": "When brokers state a 5% cap, I generally find it's a real 2% cap when actual expenses are added they always seem to forget such as market vacancy / credit loss, maintenance / repairs adjusted for inflation, legal and accounting, management, etc\n\nRegardless, we're getting 4.6%+ with shortterm Treasuries, so a sub 5% cap in a declining market (asset values and ADRs) with debt yields even greater doesn't work. We make more sitting on our hands with shortterm bonds right now.\n\nHotels should be priced at pre 2020 numbers and adjusted down even more to offset higher rates.", "replies": [{"id": "j0urw20", "text": "No proformas these are based on actuals", "replies": [], "depth": 2}], "depth": 1}, {"id": "j0zvnci", "text": "I own multiple hotels and am looking for a resort right now. Need to place some cash now. \n\nHow do we link up on here?", "replies": [], "depth": 1}]