How does my family buy a florida hotel for a good price?

Mr. Joe: How does my family buy a florida hotel for a good price?
My family is interested in buying around a 12 unit vacant hotel to own and run for ourselves. Are there any recommendations for going about this. Is there a certain area where deals are the best for buying and flipping a hotel that would make money?

Answers and Views:

Answer by Iffy
Yes hire a real Estate Broker and give him/her your specifications

Answer by Spock (rhp)
for your family’s sake, i hope that someone with a lot of experience is in charge of this project.

all commercial real estate is bargained over. bargaining power and ability to produce income are extremely complex subjects, which can’t be begun to discuss here. Serious real estate investors spend years learning what to look for, how to spot a deal, and how to bargain for a deal that’ll work out well. If they’re going to operate the property as a business, they invest their time learning how that particular business is done.

just jumping in is how you lose money. That’s ok if the point is to learn to do things right before you invest serious money, but is otherwise foolish and wastes time and capital.

Answer by Mary P
Flipping property has pretty much been out of the news for the last few years. Mortgage requirements “Ain’t what they used to be”.