One of my clients recently said "Y
One aspect of my job that I really enjoy is educating buyers and sellers. One of the most important things I can do is educate them on the financing side of things. And it's been challenging in our market over the past few years with commercial lodging properties. Buyers need to understand what they'll have to pay and sellers need to understand what their business is worth. Notice I'm only talking about the business, not the real estate or land and building.
A bed and breakfast/lodging property is a hybrid - clearly it's a home or a dwelling of sorts, it has land, and it has a business it operates within the real estate. But when we talk in terms of financing a business, we are talking business value and not real estate value.
So, let's do the math...