Pete: How much will i make if i sell my motel?
I bought the motel a year ago for $ 1.5M and with $ 270K down payment. And currently i am paying $ 9,700 loan payment every month. If i sell my motel today for $ 1.7M, how much money will i make?
Answers and Views:
Answer by ☼AstrologerJuliAnne☼
Depends on the commission you would need to pay the broker, if you have to make any repairs to the property for the new owner, and any points that you might give the buyer. Wouldn’t you essentially being making a $ 200k profit barring any of the things stated above since you are pricing it $ 200k over what you paid?
Depends on how much interest you will be paying by the time it is actually sold. Also, you have to subtract commissions toward a Realtor or legal fees for an attorney, other advertising fees, etc.
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