DF and MZ were looking to purchase a 131 key Homewood Suites hotel in Eatontown NJ. The hotel was close to Jersey Shore beaches, business parks and shops and was a great hotel option for beachgoers and tourists. Amenities included hotel breakfasts, in-suite kitchens, a fitness center, and an outdoor pool for summer enjoyment

— It needed a lot of time

To buy the hotel - DF and MZ needed to:

• Do a full due diligence analysis to identify any potential risks that the property would have
• Remodel the underwriting put together for the deal so it would give a more accurate picture of the risks vs reward
• Organize details of the hotel’s transfer of ownership
• Work on the PIP (property improvement plan) work  - which was renovation and upgrade work required by Hilton at the change of hotel ownership

DF and MZ were no newbies to real estate and could have done the work themselves.

They were already handling many other deals. And with all it’s moving parts, focusing on this hotel would distract them from their existing workload.

They needed someone they trusted to take the reins of the hotel so they could manage their other deals at the same time.

— Crunched the info and numbers and took over the oversight.

This project hit all our strong points! Due Diligence, Underwriting and Management

We worked it out pre, during and post closing like this:

Pre-Closing:

• Due Diligence: We took a good look at the market and historical financials
• Underwriting: We reviewed and modified the client provided UW model

During Closing:

• We organized the transfer of ownership from the old owners to our clients
• We helped figure out the dynamics between our clients and the old hotel management company

Post Closing:

• Asset Management: We took over the oversight of the PIP work - managing all the property renovations to make sure that everything required was done correctly and in the most cost efficient manner
• We oversaw all hotel financial decisions and occupancy levels to ensure maximum operational efficiency

— A successful hotel that they were confident in.

With all the due diligence and underwriting done - they knew it was a good investment.

And then they had team VisionRE to run the kinks for them on a day to day basis so they didn’t have to take their attention from their other properties.

All in all — Facts + Oversight + Time saved