Sometimes in business, and life, you just get lucky!
The owner of the resort my Fund is buying into in Italy reached out this week. He informed me that his neighbor of many years heard about the pending purchase by the American. He offered to sell his bed & breakfast next door to the hotel at a ridiculously low price.
The owner was shocked because he said he had been trying to buy it from his neighbor for over five years to no avail.
Below is the current state of the property (not great obviously) but renderings of what we can turn it into within a year.
Adding this to our purchase would greatly increase our hotel room count from 15 to as many as 28 rooms without impacting our purchase price too significantly.
What do you think sports fans? Should I grab it? This feels like Hawaii all over again!
