I put in a request to financing a hotel acquisition and the lender came back with an offer that says $4mm for 4 years 8% interesl only loan plus 50% ownership. Collateral: 1st and 3 points origination fee. Does anyone know if this is a good offer to accept or not?
Need a lot more information here. No way to tell what kind of value is there from what you wrote.
I can tell you the hotel offer was for $2,450,000 with renovation cost of approx. $500,000. I asked for $3,575,000 and that’s when the lender offered me the figures above. Is this enough info? If not, can you specify what type of info you need? Thank You.