How to Build $7.5m in Net Worth by Buying a B&B

I had not really put together pro formas based on any actual accounting that the business was bringing in at the time. So it was just mostly to explore whether or not the arrangement would be feasible. And then we finally found an operable lending package that left it so that the Margins would support the success of the business that came through.

As we were talking to banks going through the SBA route and so finally we got pre approved. I think that was the end of July in 2024. You know that one of the most common levers to pull in a target acquisition is technology updating the systems of a business that may still be running off a spreadsheet or even pen and paper. But tech is complicated with tons of solutions out there.

His team at Inzo regularly works with searchers and their acquisitions, offering a complimentary IT audit of the target company. Nick takes a personal interest in all their searcher clients, drawing from his own experience in the search phase. Enzo dates back to 1989.

So this is a company that has managed the tech for hundreds of small businesses over decades. And one last thing, no long term contracts with Enzo. A big differentiator.

Check out inzotechnologies.com I N Z O or email Nick directly@nicknzotechnologies.com and don't forget to tell them you're a searcher. So tell us about the building and business in, in that order. So, so give us a, give us a picture of this building, how big, how many units, bedrooms, et cetera, where the value of the real estate, the value of the location, all, all of that real estate first,…

Sure. So the value of the real estate.

I've seen different numbers and different interpretations of what exactly it is valued at. I know the appraisal for both the commercial and the real estate came in just above 7.5. The real estate.

It's a tough question that I never really got a straight answer on throughout this entire, this entire purpose because, you know, even when I was working with agents to send around comps, the structure of the building being set up for a bed and breakfast, you can't really compare it to the comps of, you know, the, the Embassy Row mansion that has, you know, comparable square footage just by the…

Yeah. And so, but give us a sense of square footage. How many night, how many rooms are available for, for guests. It's that sort of stuff as well.

Sure. So there's 10 guest rooms, which that does not include the innkeeper's apartment that I is a two bedroom innkeeper apartment. All of the guest rooms have their own en suite bathrooms. And then we have an outdoor area with a pool.

And the first floor is all common area space, which includes a large dining room, a parlor, a study, and this lovely room that I'm sitting in which we refer to as the solarium. And this total square footage of the property, I believe it's 10,000 square feet. What more would you say to try to give people a sense of the size and how kind of the vibe.