This is a difficult post to write.
After 4 months of intense discussion, excitement, frustration and hope, the motel we have been attempting to enter into a Lease To Own agreement with has fallen through. While I will undoubtedly go into more depth when I reach the motel in the stories, ideally after I've had some time to separate myself from the emotion, the short story is that he wanted more money than we had to give, and we started to have some real doubts about the stability of the property, both the buildings themselves, and the owner.
It was an incredibly difficult decision to make, but we reached a point where we could see that more time discussing it would only be delaying the inevitable, and make ending it harder for us. This motel was the only one we contacted, out of 20 that was willing to consider a deal with the amount of money we had to offer.
Of course, we're nothing if not persistent, and we are determined to run a motel. It's our dream, and we are confident that we could excel at it in ways never imagined. Between our artistic ability, dedication and friendliness, all we need is a chance. There is one other property we are looking into. It's smaller, and less than half the price of the other, and after a lot of reflection, we've decided that not only are the buildings in better shape, but we like the area well enough to try for it. The problem is that the owners aren't interested in a Lease To Own, or other owner oriented plans, essentially, they want to get the money and forget about the property.
Throughout this entire process, Lindsay and I have been explicit in wishing to do this ourselves, relying on help only in a moral support capacity, but we have come to the conclusion that we need help if we're to achieve our dreams. We are currently looking into lenders, SBA, Government-assisted loans, hard money people and every other conventional methods we can, but we have come to the conclusion that if we are to find the 20% we need to secure a loan, we are going to have to ask people for assistance.
If any of you, my friends and family, know of any angels out there willing to invest in our future, at a good interest rate, please fire us off an email at email@example.com. We are hoping to find one single investor for the property, but we are willing to take on multiple investors to reach the amount we need, if we can find them.
Kristopher & Lindsay