End Game Consultant
Will you own your hospitality property forever? Sell or pass to family, is the common solution. When we first purchased our sporting lodge in the early ’90s, we were certain we would own the property forever. At the tender age of 25, I could never envision not owning the recently purchased property that we put so much thoughts and energy into. Grown children, our age and the love of our little cabin in Montana changed our life.
As a NH real estate broker (one of the many hats I wore during ownership of our sporting lodge), I sold a few properties to guests but mainly used my broker’s license to manage rental property. I figured I’ll be the broker in the sale of the lodge, after all, I am excellent at marketing. And while I was successful in this endeavor, this was not a walk in the park.
Hospitality Property Sale Preparation
Preparing a property for sale is not as simple as vacuuming the floors before a buyer visits. Preparing the staff, maintaining or increasing the marketing effort and finishing projects on the property are a few important steps. Choosing a seasoned commercial real estate broker to handle the transaction is the most important you will make. Research the potential broker’s sale records and reputation. We have many tips to share.