Looking for financing info for B+B

[Alibi Ike]

You want to buy a business and make money but have no money to buy one? Because you want to? Dont think any bank will find "wanting to" as good collateral..

You want to buy a business and make money but have no money to buy one? Because you want to? Dont think any bank will find "wanting to" as good collateral.

Jeez, Debbie Downer....
He didn't say anything about buying a business..he said "there are plenty of rehabbed homes available to convert to a b+B or inn."
No money but a passion to do this? Has a good job right now? People start businesses (especially B&B's) with very little money all the time...we did. It was our drive and our passion to open a B&B that made us a success. It was our previous professions that allowed us to borrow the money to get started.
Nothing is really impossible if you want it bad enough.
.

Unless the designer is just lurking, he hasn't even been back since the first post. We're all wasting our time.

 

[birdwatcher]

have not really put my two cents, but i don't see this person since they posted-whats up with that?
I agree with everyone else- do your homework as to where the B & B is and how much tourism you have in that town and for how long-will you except business travelers-these could be your bread and butter in the off season. Running an inn is a 24/7 job and having a newborn is a 24/7 job so its gonna be tough doing both plus one of you should keep your dayjob...just a thought it takes alot of determination and work-but anything is possible if you want that dream-just remember that once you start have a "out" if it does not work out.
Good luck

 

[EmptyNest]

You want to buy a business and make money but have no money to buy one? Because you want to? Dont think any bank will find "wanting to" as good collateral..

You want to buy a business and make money but have no money to buy one? Because you want to? Dont think any bank will find "wanting to" as good collateral.

Jeez, Debbie Downer....
He didn't say anything about buying a business..he said "there are plenty of rehabbed homes available to convert to a b+B or inn."
No money but a passion to do this? Has a good job right now? People start businesses (especially B&B's) with very little money all the time...we did. It was our drive and our passion to open a B&B that made us a success. It was our previous professions that allowed us to borrow the money to get started.
Nothing is really impossible if you want it bad enough.
.

Unless the designer is just lurking, he hasn't even been back since the first post. We're all wasting our time.
.

We probably scared the DESIGNER away!

 

[JBloggs]

You want to buy a business and make money but have no money to buy one? Because you want to? Dont think any bank will find "wanting to" as good collateral..

You want to buy a business and make money but have no money to buy one? Because you want to? Dont think any bank will find "wanting to" as good collateral.

Jeez, Debbie Downer....
He didn't say anything about buying a business..he said "there are plenty of rehabbed homes available to convert to a b+B or inn."
No money but a passion to do this? Has a good job right now? People start businesses (especially B&B's) with very little money all the time...we did. It was our drive and our passion to open a B&B that made us a success. It was our previous professions that allowed us to borrow the money to get started.
Nothing is really impossible if you want it bad enough.
.

Listen I am entitled to my opinion, reply to the poster, not to me. For some reason people think this forum has to be goodness and light all the time and no one can speak reality to anyone, reality is truth. You can and should have dreams, he asked of a way to finance this dream, I said MY REPLY to that question. MY ANSWER and I stand by it.
Of course knowing that if I didn't rose color it up, someone would get ticked off. The dude has not even been back. People come on here with the same question all the time, I WANT to run an inn but I have no money to do it.

 

[EmptyNest]

You want to buy a business and make money but have no money to buy one? Because you want to? Dont think any bank will find "wanting to" as good collateral..

You want to buy a business and make money but have no money to buy one? Because you want to? Dont think any bank will find "wanting to" as good collateral.

Jeez, Debbie Downer....
He didn't say anything about buying a business..he said "there are plenty of rehabbed homes available to convert to a b+B or inn."
No money but a passion to do this? Has a good job right now? People start businesses (especially B&B's) with very little money all the time...we did. It was our drive and our passion to open a B&B that made us a success. It was our previous professions that allowed us to borrow the money to get started.
Nothing is really impossible if you want it bad enough.
.

Listen I am entitled to my opinion, reply to the poster, not to me. For some reason people think this forum has to be goodness and light all the time and no one can speak reality to anyone, reality is truth. You can and should have dreams, he asked of a way to finance this dream, I said MY REPLY to that question. MY ANSWER and I stand by it.
Of course knowing that if I didn't rose color it up, someone would get ticked off. The dude has not even been back. People come on here with the same question all the time, I WANT to run an inn but I have no money to do it.
.

Hey I told him the same thing with the very first post! There is no reason to put on the rose colored glasses...they have to know it like it is. They have no money...they get no B & B...that's it.

 

[wendydk]

I'm sorry JB...I didn't mean to get your hackles up.
I was simply telling him that it CAN be done with little money, and how. I know this to be a fact, because we did it ourselves.
I'm REALLY glad someone encouraged Jamie and Gary as aspirings.

 

[JBloggs]

No worries W, hackles re-activated into standby mode.
'spose I have this for sale thing in the back of my mind from those who call us and say "We love your inn, we want to buy it, but have no money" not sure if you had that scenario happen, but it has here about 3 times thus far.

 

[Samster]

Welcome, Designer.

Swirt said it best. I just have one thing to add. If you think you can rehab an old house with no money, you need to talk to someone who has renovated an historical house. It took us twice as long and almost twice as much money as we thought it would. Bankers are unlikely to lend you money for that without a solid plan of how you can repay them. Just sayin'.....

 

[gillumhouse]

You want to buy a business and make money but have no money to buy one? Because you want to? Dont think any bank will find "wanting to" as good collateral..

You want to buy a business and make money but have no money to buy one? Because you want to? Dont think any bank will find "wanting to" as good collateral.

Jeez, Debbie Downer....
He didn't say anything about buying a business..he said "there are plenty of rehabbed homes available to convert to a b+B or inn."
No money but a passion to do this? Has a good job right now? People start businesses (especially B&B's) with very little money all the time...we did. It was our drive and our passion to open a B&B that made us a success. It was our previous professions that allowed us to borrow the money to get started.
Nothing is really impossible if you want it bad enough.
.

Just got around to this one. He said in Cleveland area. If he means Cleveland, Ohio there may be lots of old houses but trust me, they will need lots of work to make ready for a B & B. Old houses did NOT have lots of bathrooms and we all know the story of bathrooms. since mine finally got done AFTER Katrina I KNOW how much a bathroom costs - and he said nothing about being a handyman!
I opened my B & B with little money - ONLY because we paid cash for the house, there were the two of us with no expensive tastes, and we were used to living "on the cheap". My inheritance from my Mom disappeared very quickly into nicer furnishings (and DH toys) and linens. I am happy you were able to do it, but I am still trying to. We were doing OK until I had to borrow money and by that time the business was already established. I used my own money to start-up.
I join the Debbie Downer Club here. Too many think it can be done on nothing and it is THIER failures that make it difficult for those who have done the planning. The failures make the stats that hurt.