want to buy an inn

[TheBeachHouse]

We moved from the west coast to this town about 20 years ago. We saw an inn for sale and inquired about buying it. We had very little savings available for the down payment. Owner wasn't interested in helping out (can't blame him.)
So we got jobs and bought a small house and lived there for 17 years.
One day, we were on a walk and saw an inn in this town for sale. Did some math, including the equity in our small house, and decided it was doable.
We had to sell our house and take out a giant mortgage to do it, but we are happy where we are. All it took was 17 years of patience and the opportunity.
My advice is to get a job, whether at an inn, hotel or an unrelated industry and save your money. Watch for opportunity and be ready when it comes!
Best of luck!!!.

The problem with this is that they've been working and saving. They've also been working with the innkeepers. They have jobs. But they gave away all their money. Now they have to start over. From zero.
Probably the best answer on here was from Aussie - she gave them a place to get money. The rest of us told them to get jobs. Which they already have.
.

Sorry, I don't mean to sound dense and unhelpful.
I did see that they used their savings to help family.
To: OP - you are good people. Is there a way to remind family that you need the money back? Difficult spot to be in.
On second thought - "get a job in the industry" isn't really a bad piece of advice. You get to do what you want, learn what you need to know and earn. The truth is, everyone can't be the owner. Someone needs to be the support staff. It's close to what you want while working toward what you want.

 

[Morticia]

We moved from the west coast to this town about 20 years ago. We saw an inn for sale and inquired about buying it. We had very little savings available for the down payment. Owner wasn't interested in helping out (can't blame him.)
So we got jobs and bought a small house and lived there for 17 years.
One day, we were on a walk and saw an inn in this town for sale. Did some math, including the equity in our small house, and decided it was doable.
We had to sell our house and take out a giant mortgage to do it, but we are happy where we are. All it took was 17 years of patience and the opportunity.
My advice is to get a job, whether at an inn, hotel or an unrelated industry and save your money. Watch for opportunity and be ready when it comes!
Best of luck!!!.

The problem with this is that they've been working and saving. They've also been working with the innkeepers. They have jobs. But they gave away all their money. Now they have to start over. From zero.
Probably the best answer on here was from Aussie - she gave them a place to get money. The rest of us told them to get jobs. Which they already have.
.

Sorry, I don't mean to sound dense and unhelpful.
I did see that they used their savings to help family.
To: OP - you are good people. Is there a way to remind family that you need the money back? Difficult spot to be in.
On second thought - "get a job in the industry" isn't really a bad piece of advice. You get to do what you want, learn what you need to know and earn. The truth is, everyone can't be the owner. Someone needs to be the support staff. It's close to what you want while working toward what you want.
.

Sorry, I don't mean to sound dense and unhelpful.

That's not where I was going with my comment. Sorry it came across like that. More like what noho said - we share so much about how we did things but all they wanted from us was a name and a phone number of someone with money.
Like the college kid last week who wanted the name and phone number of someone in their specific area who would give them a job in may.

 

[TheBeachHouse]

We moved from the west coast to this town about 20 years ago. We saw an inn for sale and inquired about buying it. We had very little savings available for the down payment. Owner wasn't interested in helping out (can't blame him.)
So we got jobs and bought a small house and lived there for 17 years.
One day, we were on a walk and saw an inn in this town for sale. Did some math, including the equity in our small house, and decided it was doable.
We had to sell our house and take out a giant mortgage to do it, but we are happy where we are. All it took was 17 years of patience and the opportunity.
My advice is to get a job, whether at an inn, hotel or an unrelated industry and save your money. Watch for opportunity and be ready when it comes!
Best of luck!!!.

The problem with this is that they've been working and saving. They've also been working with the innkeepers. They have jobs. But they gave away all their money. Now they have to start over. From zero.
Probably the best answer on here was from Aussie - she gave them a place to get money. The rest of us told them to get jobs. Which they already have.
.

Sorry, I don't mean to sound dense and unhelpful.
I did see that they used their savings to help family.
To: OP - you are good people. Is there a way to remind family that you need the money back? Difficult spot to be in.
On second thought - "get a job in the industry" isn't really a bad piece of advice. You get to do what you want, learn what you need to know and earn. The truth is, everyone can't be the owner. Someone needs to be the support staff. It's close to what you want while working toward what you want.
.

Sorry, I don't mean to sound dense and unhelpful.

That's not where I was going with my comment. Sorry it came across like that. More like what noho said - we share so much about how we did things but all they wanted from us was a name and a phone number of someone with money.
Like the college kid last week who wanted the name and phone number of someone in their specific area who would give them a job in may.
.

My apology was more to the OP after you pointed out how we tend to go off topic.
I still think our stories are valuable. But I see how they may be frustrating to OP in this particular instance.

 

[TheBeachHouse]

Hello, allow us to introduce ourselves.....Shayne & Toryn we WANT TO PURCHASE this amazing Inn, however we have no money down.....yeah i know how the hell are we going to get this inn, well we are looking for advise.....i have an amazing business plan, but NO schedule C. The Inn was bought by an older couple that were going to retire and run it , it has beautiful living quarters ....it sets on 13.5 acres JUST beautiful. Toryn and I have been working with the now owners since May of last year, they rent out rooms now and then, so to the banks it's a start up. so of course they want 10 to 20% down. I have so many people that have weddings and parties coming up and it's all passing us by because we don't have the down payment. because we helped a family member save there house.
Please Give us some help here I have been in the industry off and on my whole life , it runs in my veins....There has to bea way to buy this great property!!??
Thank you

Here's an idea. A bit of a gigantic risk, but you asked. Can you get deposits from the many people who want to have weddings and parties there and use the money as the down payment? You'll have to be able to hit the ground running big time, but you asked for ideas!

 

[ChefDRG]

Have you contacted Rick Newman?
RICHARD K. NEWMAN
COMMERCIAL CAPITAL NETWORK
800 MAIN STREET
STROUDSBURG, PA 18360
Office: 570-481-6129
Mobile: 570-213-1903
WWW.Innfinancing.com.

I'm fairly new and don't post often but I just wanted to jump on to say that I spoke with Rick for about an hour today and had a very positive outcome. It may worth speaking to him, TS4Ever_! Good luck!
PS. I'm on my third try with this captcha. It's making me feel like an incompetent loser lol

 

[ChefDRG]

Please Give us some help here I have been in the industry off and on my whole life , it runs in my veins....There has to bea way to buy this great property!!??
Thank you
[/quote]
I don't have advice about financing--I'm just getting started on that, myself--but I wanted to say WELCOME! This is a pretty great forum and there's a ton of information here for us.
I would also like to share a story I read today while researching an inn. I read that the owners had put an offer in on a place that they really loved. Their offer was rejected. They were pretty broken hearted but eventually ended up buying another inn in a different state. A major hurricane blew through and leveled the inn that they didn't get, along with the surrounding town. The innkeeper stayed with the house and perished in the storm. Sometimes there are paths not meant for us. I'm a firm believer in paying attention to that kind of thing. I have had my heart set on at least three inns since I started looking. And the universe has made it clear that they were not for me. I've waited 25 years for my chance, so it is with retrained patience that I search for where I'm meant to be. I know you'll find where you're meant to be, too. And I'm rooting for ya!

 

[EmptyNest]

We moved from the west coast to this town about 20 years ago. We saw an inn for sale and inquired about buying it. We had very little savings available for the down payment. Owner wasn't interested in helping out (can't blame him.)
So we got jobs and bought a small house and lived there for 17 years.
One day, we were on a walk and saw an inn in this town for sale. Did some math, including the equity in our small house, and decided it was doable.
We had to sell our house and take out a giant mortgage to do it, but we are happy where we are. All it took was 17 years of patience and the opportunity.
My advice is to get a job, whether at an inn, hotel or an unrelated industry and save your money. Watch for opportunity and be ready when it comes!
Best of luck!!!.

The problem with this is that they've been working and saving. They've also been working with the innkeepers. They have jobs. But they gave away all their money. Now they have to start over. From zero.
Probably the best answer on here was from Aussie - she gave them a place to get money. The rest of us told them to get jobs. Which they already have.
.

One of the first things he says on his site" the buyer must have adequate capital" he isn't going to give them money. He justs works through the process. There are no magic bullets.
iam sure they are done with us and what we have to say

 

[TS4ever14_]

THANK YOU ALL, Good, bad and in different!
​ I am overwhelmed and full of gratitude for all of you taking time to give idea's and resources.......... I KNOW i will be in business soon, and will continue to keep all of you POSTED of our success
Sincerely,
Shayne & Toryn

 

[TS4ever14_]

Please Give us some help here I have been in the industry off and on my whole life , it runs in my veins....There has to bea way to buy this great property!!??
Thank you

I don't have advice about financing--I'm just getting started on that, myself--but I wanted to say WELCOME! This is a pretty great forum and there's a ton of information here for us.
I would also like to share a story I read today while researching an inn. I read that the owners had put an offer in on a place that they really loved. Their offer was rejected. They were pretty broken hearted but eventually ended up buying another inn in a different state. A major hurricane blew through and leveled the inn that they didn't get, along with the surrounding town. The innkeeper stayed with the house and perished in the storm. Sometimes there are paths not meant for us. I'm a firm believer in paying attention to that kind of thing. I have had my heart set on at least three inns since I started looking. And the universe has made it clear that they were not for me. I've waited 25 years for my chance, so it is with retrained patience that I search for where I'm meant to be. I know you'll find where you're meant to be, too. And I'm rooting for ya!.

[/QUOTE]
Thank you, Love the story.....

 

[TS4ever14_]

Have you contacted Rick Newman?
RICHARD K. NEWMAN
COMMERCIAL CAPITAL NETWORK
800 MAIN STREET
STROUDSBURG, PA 18360
Office: 570-481-6129
Mobile: 570-213-1903
WWW.Innfinancing.com.

Thank you Aussie Innkeeper!

 

[TS4ever14_]

Hello, allow us to introduce ourselves.....Shayne & Toryn we WANT TO PURCHASE this amazing Inn, however we have no money down.....yeah i know how the hell are we going to get this inn, well we are looking for advise.....i have an amazing business plan, but NO schedule C. The Inn was bought by an older couple that were going to retire and run it , it has beautiful living quarters ....it sets on 13.5 acres JUST beautiful. Toryn and I have been working with the now owners since May of last year, they rent out rooms now and then, so to the banks it's a start up. so of course they want 10 to 20% down. I have so many people that have weddings and parties coming up and it's all passing us by because we don't have the down payment. because we helped a family member save there house.
Please Give us some help here I have been in the industry off and on my whole life , it runs in my veins....There has to bea way to buy this great property!!??
Thank you

Here's an idea. A bit of a gigantic risk, but you asked. Can you get deposits from the many people who want to have weddings and parties there and use the money as the down payment? You'll have to be able to hit the ground running big time, but you asked for ideas! .

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you

 

[TS4ever14_]

We moved from the west coast to this town about 20 years ago. We saw an inn for sale and inquired about buying it. We had very little savings available for the down payment. Owner wasn't interested in helping out (can't blame him.)
So we got jobs and bought a small house and lived there for 17 years.
One day, we were on a walk and saw an inn in this town for sale. Did some math, including the equity in our small house, and decided it was doable.
We had to sell our house and take out a giant mortgage to do it, but we are happy where we are. All it took was 17 years of patience and the opportunity.
My advice is to get a job, whether at an inn, hotel or an unrelated industry and save your money. Watch for opportunity and be ready when it comes!
Best of luck!!!.

The problem with this is that they've been working and saving. They've also been working with the innkeepers. They have jobs. But they gave away all their money. Now they have to start over. From zero.
Probably the best answer on here was from Aussie - she gave them a place to get money. The rest of us told them to get jobs. Which they already have.
.

Thank you Morticia,
I believe i have an investor aboard......negotiating process now! YIKES

 

[JimBoone]

We moved from the west coast to this town about 20 years ago. We saw an inn for sale and inquired about buying it. We had very little savings available for the down payment. Owner wasn't interested in helping out (can't blame him.)
So we got jobs and bought a small house and lived there for 17 years.
One day, we were on a walk and saw an inn in this town for sale. Did some math, including the equity in our small house, and decided it was doable.
We had to sell our house and take out a giant mortgage to do it, but we are happy where we are. All it took was 17 years of patience and the opportunity.
My advice is to get a job, whether at an inn, hotel or an unrelated industry and save your money. Watch for opportunity and be ready when it comes!
Best of luck!!!.

The problem with this is that they've been working and saving. They've also been working with the innkeepers. They have jobs. But they gave away all their money. Now they have to start over. From zero.
Probably the best answer on here was from Aussie - she gave them a place to get money. The rest of us told them to get jobs. Which they already have.
.

Sorry, I don't mean to sound dense and unhelpful.
I did see that they used their savings to help family.
To: OP - you are good people. Is there a way to remind family that you need the money back? Difficult spot to be in.
On second thought - "get a job in the industry" isn't really a bad piece of advice. You get to do what you want, learn what you need to know and earn. The truth is, everyone can't be the owner. Someone needs to be the support staff. It's close to what you want while working toward what you want.
.

Sorry, I don't mean to sound dense and unhelpful.

That's not where I was going with my comment. Sorry it came across like that. More like what noho said - we share so much about how we did things but all they wanted from us was a name and a phone number of someone with money.
Like the college kid last week who wanted the name and phone number of someone in their specific area who would give them a job in may.
.

More like what noho said - we share so much about how we did things but all they wanted from us was a name and a phone number of someone with money

I guess we'd all like the name and number of that generous person with lots of money and few rules, please share

 

[TheBeachHouse]

Hello, allow us to introduce ourselves.....Shayne & Toryn we WANT TO PURCHASE this amazing Inn, however we have no money down.....yeah i know how the hell are we going to get this inn, well we are looking for advise.....i have an amazing business plan, but NO schedule C. The Inn was bought by an older couple that were going to retire and run it , it has beautiful living quarters ....it sets on 13.5 acres JUST beautiful. Toryn and I have been working with the now owners since May of last year, they rent out rooms now and then, so to the banks it's a start up. so of course they want 10 to 20% down. I have so many people that have weddings and parties coming up and it's all passing us by because we don't have the down payment. because we helped a family member save there house.
Please Give us some help here I have been in the industry off and on my whole life , it runs in my veins....There has to bea way to buy this great property!!??
Thank you

Here's an idea. A bit of a gigantic risk, but you asked. Can you get deposits from the many people who want to have weddings and parties there and use the money as the down payment? You'll have to be able to hit the ground running big time, but you asked for ideas! .

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you
.

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you

Find a way to indemnify them.

 

[Morticia]

We moved from the west coast to this town about 20 years ago. We saw an inn for sale and inquired about buying it. We had very little savings available for the down payment. Owner wasn't interested in helping out (can't blame him.)
So we got jobs and bought a small house and lived there for 17 years.
One day, we were on a walk and saw an inn in this town for sale. Did some math, including the equity in our small house, and decided it was doable.
We had to sell our house and take out a giant mortgage to do it, but we are happy where we are. All it took was 17 years of patience and the opportunity.
My advice is to get a job, whether at an inn, hotel or an unrelated industry and save your money. Watch for opportunity and be ready when it comes!
Best of luck!!!.

The problem with this is that they've been working and saving. They've also been working with the innkeepers. They have jobs. But they gave away all their money. Now they have to start over. From zero.
Probably the best answer on here was from Aussie - she gave them a place to get money. The rest of us told them to get jobs. Which they already have.
.

Sorry, I don't mean to sound dense and unhelpful.
I did see that they used their savings to help family.
To: OP - you are good people. Is there a way to remind family that you need the money back? Difficult spot to be in.
On second thought - "get a job in the industry" isn't really a bad piece of advice. You get to do what you want, learn what you need to know and earn. The truth is, everyone can't be the owner. Someone needs to be the support staff. It's close to what you want while working toward what you want.
.

Sorry, I don't mean to sound dense and unhelpful.

That's not where I was going with my comment. Sorry it came across like that. More like what noho said - we share so much about how we did things but all they wanted from us was a name and a phone number of someone with money.
Like the college kid last week who wanted the name and phone number of someone in their specific area who would give them a job in may.
.

More like what noho said - we share so much about how we did things but all they wanted from us was a name and a phone number of someone with money

I guess we'd all like the name and number of that generous person with lots of money and few rules, please share
.

More like what noho said - we share so much about how we did things but all they wanted from us was a name and a phone number of someone with money

I guess we'd all like the name and number of that generous person with lots of money and few rules, please share

I can give you the number of the people who called yesterday with a $50,000 line of credit...

 

[NoHoBar]

Hello, allow us to introduce ourselves.....Shayne & Toryn we WANT TO PURCHASE this amazing Inn, however we have no money down.....yeah i know how the hell are we going to get this inn, well we are looking for advise.....i have an amazing business plan, but NO schedule C. The Inn was bought by an older couple that were going to retire and run it , it has beautiful living quarters ....it sets on 13.5 acres JUST beautiful. Toryn and I have been working with the now owners since May of last year, they rent out rooms now and then, so to the banks it's a start up. so of course they want 10 to 20% down. I have so many people that have weddings and parties coming up and it's all passing us by because we don't have the down payment. because we helped a family member save there house.
Please Give us some help here I have been in the industry off and on my whole life , it runs in my veins....There has to bea way to buy this great property!!??
Thank you

Here's an idea. A bit of a gigantic risk, but you asked. Can you get deposits from the many people who want to have weddings and parties there and use the money as the down payment? You'll have to be able to hit the ground running big time, but you asked for ideas! .

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you
.

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you

Find a way to indemnify them.
.

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you

Find a way to indemnify them.

I am sure there is something illegal about that.

 

[TheBeachHouse]

Hello, allow us to introduce ourselves.....Shayne & Toryn we WANT TO PURCHASE this amazing Inn, however we have no money down.....yeah i know how the hell are we going to get this inn, well we are looking for advise.....i have an amazing business plan, but NO schedule C. The Inn was bought by an older couple that were going to retire and run it , it has beautiful living quarters ....it sets on 13.5 acres JUST beautiful. Toryn and I have been working with the now owners since May of last year, they rent out rooms now and then, so to the banks it's a start up. so of course they want 10 to 20% down. I have so many people that have weddings and parties coming up and it's all passing us by because we don't have the down payment. because we helped a family member save there house.
Please Give us some help here I have been in the industry off and on my whole life , it runs in my veins....There has to bea way to buy this great property!!??
Thank you

Here's an idea. A bit of a gigantic risk, but you asked. Can you get deposits from the many people who want to have weddings and parties there and use the money as the down payment? You'll have to be able to hit the ground running big time, but you asked for ideas! .

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you
.

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you

Find a way to indemnify them.
.

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you

Find a way to indemnify them.

I am sure there is something illegal about that.
.

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you

Find a way to indemnify them.

I am sure there is something illegal about that.

about what?
Instead of putting up road blocks, see an attorney and find a way to get some money up front. Obviously, there will have to be contracts, indemnities, transfer promises, reimbursement protocol.
OP is asking for 'creative financing.' It's an idea.

 

[TheBeachHouse]

Hello, allow us to introduce ourselves.....Shayne & Toryn we WANT TO PURCHASE this amazing Inn, however we have no money down.....yeah i know how the hell are we going to get this inn, well we are looking for advise.....i have an amazing business plan, but NO schedule C. The Inn was bought by an older couple that were going to retire and run it , it has beautiful living quarters ....it sets on 13.5 acres JUST beautiful. Toryn and I have been working with the now owners since May of last year, they rent out rooms now and then, so to the banks it's a start up. so of course they want 10 to 20% down. I have so many people that have weddings and parties coming up and it's all passing us by because we don't have the down payment. because we helped a family member save there house.
Please Give us some help here I have been in the industry off and on my whole life , it runs in my veins....There has to bea way to buy this great property!!??
Thank you

Here's an idea. A bit of a gigantic risk, but you asked. Can you get deposits from the many people who want to have weddings and parties there and use the money as the down payment? You'll have to be able to hit the ground running big time, but you asked for ideas! .

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you
.

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you

Find a way to indemnify them.
.

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you

Find a way to indemnify them.

I am sure there is something illegal about that.
.

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you

Find a way to indemnify them.

I am sure there is something illegal about that.

about what?
Instead of putting up road blocks, see an attorney and find a way to get some money up front. Obviously, there will have to be contracts, indemnities, transfer promises, reimbursement protocol.
OP is asking for 'creative financing.' It's an idea.
.

I am not an attorney and I'm not a realtor. But I was just thinking.
Could this not be part of the Purchase and Sale agreement? there are often contingencies on P&S, one of the most frequent is the ability to get financing.
If you have a P&S in place with clearly laid out contingencies, can you not sell time and space in your future inn based on the contact in place?
Like I said before, it would be very risky, and you NEED a real estate attorney, but it is a thought.

 

[OnTheShore]

Hello, allow us to introduce ourselves.....Shayne & Toryn we WANT TO PURCHASE this amazing Inn, however we have no money down.....yeah i know how the hell are we going to get this inn, well we are looking for advise.....i have an amazing business plan, but NO schedule C. The Inn was bought by an older couple that were going to retire and run it , it has beautiful living quarters ....it sets on 13.5 acres JUST beautiful. Toryn and I have been working with the now owners since May of last year, they rent out rooms now and then, so to the banks it's a start up. so of course they want 10 to 20% down. I have so many people that have weddings and parties coming up and it's all passing us by because we don't have the down payment. because we helped a family member save there house.
Please Give us some help here I have been in the industry off and on my whole life , it runs in my veins....There has to bea way to buy this great property!!??
Thank you

Here's an idea. A bit of a gigantic risk, but you asked. Can you get deposits from the many people who want to have weddings and parties there and use the money as the down payment? You'll have to be able to hit the ground running big time, but you asked for ideas! .

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you
.

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you

Find a way to indemnify them.
.

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you

Find a way to indemnify them.

I am sure there is something illegal about that.
.

Hi Beach House,
I did think about taking the deposits, BUT the now owners don't want to be held responsible for the deposits.....
Thank you

Find a way to indemnify them.

I am sure there is something illegal about that.

about what?
Instead of putting up road blocks, see an attorney and find a way to get some money up front. Obviously, there will have to be contracts, indemnities, transfer promises, reimbursement protocol.
OP is asking for 'creative financing.' It's an idea.
.

I am not an attorney and I'm not a realtor. But I was just thinking.
Could this not be part of the Purchase and Sale agreement? there are often contingencies on P&S, one of the most frequent is the ability to get financing.
If you have a P&S in place with clearly laid out contingencies, can you not sell time and space in your future inn based on the contact in place?
Like I said before, it would be very risky, and you NEED a real estate attorney, but it is a thought.
.

It would be complicated and risky, but I don't think it is necessarily illegal, although likely impossible to pull off -- there are at least three parties (T&S, the sellers, and the wedding couples) and at least two contracts (the purchase and sale agreeemnt, and the wedding contracts) with inter-dependent contingencies....
T&S would have to line up (in advance) a sufficient number of wedding couples willing to put down sufficient deposits to hold their wedding at an inn that the T&S do not yet own, so that T&S can amass a sufficient amount of cash to make a down-payment in purchasing the inn, the contingency being that if the purchase of the inn falls through, the couples get their money back (plus some? they are going to have reschedule their weddings and find another venue..... I am assuming that the present owners have no interest in hosting these weddings).
Simultaneously, T&S will have to convince the present owners to sell, and a financier to finance their purchase, based on having the contracts (with substantial deposits) in hand from the wedding couples, the contingency being that if the weddings don't materialize, the financing disappears and the sale falls though.
As long as the wedding couples understand and agree to the terms..... why not?

 

[Copperhead]

We moved from the west coast to this town about 20 years ago. We saw an inn for sale and inquired about buying it. We had very little savings available for the down payment. Owner wasn't interested in helping out (can't blame him.)
So we got jobs and bought a small house and lived there for 17 years.
One day, we were on a walk and saw an inn in this town for sale. Did some math, including the equity in our small house, and decided it was doable.
We had to sell our house and take out a giant mortgage to do it, but we are happy where we are. All it took was 17 years of patience and the opportunity.
My advice is to get a job, whether at an inn, hotel or an unrelated industry and save your money. Watch for opportunity and be ready when it comes!
Best of luck!!!.

The problem with this is that they've been working and saving. They've also been working with the innkeepers. They have jobs. But they gave away all their money. Now they have to start over. From zero.
Probably the best answer on here was from Aussie - she gave them a place to get money. The rest of us told them to get jobs. Which they already have.
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Thank you Morticia,
I believe i have an investor aboard......negotiating process now! YIKES
.

Thank you Morticia,
I believe i have an investor aboard......negotiating process now! YIKES

Fingers crossed for you. Please report back when you can! Dreams can come true.