GRP Capital is pleased to announce the purchase of a La Quinta Inn & Suites in Southwest Florida from a large corporate seller. GRP Capital continues to help other qualified buyers who are purchasing La Quinta’s across the nation!
Krishan Patel , GRP Capital Managing Director, was pleased to close this loan. He stated, “This corporate seller has been in the news for their sales of multiple hotel properties. They have a very particular way of doing business. We were able to work closely with their representatives. As a result, our clients took possession of their hotel. They complimented us on the smooth and speedy closing. We are ready to assist other clients who see these assets on the market and are ready to add them to their portfolio.”
Tips for Purchasing Property from a Large Corporate Seller:
• Do your due diligence: Research the property, its profitability and its market share. Try to ascertain why the corporation is putting the property on the market. If you can, utilize published corporate documents. Try to determine if there are any significant issues that brought these properties to the cutting board.
• Be Organized and Focused: Prepare yourself for the sale, even before you extend an offer. Your personal and business financials should be in good order. File your taxes or request an extension. Demonstrate with appropriate documents how you will pay for the property with bank statements that show you have the funding on hand. Sometimes, large corporate sellers have a strict timeframe to closing, so any delays on your part could be costly.
• Gather Your Professional Team: GRP Capital will help you by finding the right lender match. Of course, we will work directly with them and the corporate seller. At the same time, you’ll need to have strong support from your attorney, your accountant as well as trusted insurance and title professionals.
Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we research the best choices for their funding sources. Our experience allows our clients to find funding that is project-appropriate and will allow for sufficient cash flow. If you are considering becoming a first-time (or second or third time!) buyer, we can assist you.
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