Topic: How and Where to sell a Motel for Bitcoin (Read 196 times)

So far, I've only received two private not-very-serious inquiries to my ad posted under /marketplace/goods.    I'm reluctant to post it on reddit (using my main reddit handle) for fear of exposing my real-world identity.  I'm pretty active over there in the political subreddits.

Seriously, is there a place where rich crypto people hang out? lol... Maybe a secret telegram group I don't know about?    It has become apparent to me this forum is probably not the rich Crypto people clubhouse.. lol... Elon Musk, where are you when I need you??? 

Thank you! The motel is currently vacant/non-operating. I'm not sure if bizbuysell is the right site for it (I think only operating businesses are featured?), but I'll look into it. Thanks so much for the lead!!

Actually, Zillow is one of the first sites I thought of (see my original post).  Sadly, I don't think they accept commercial properties. Like others have said, Loopnet is probably the only site the motel should be listed. 

https://www.bizbuysell.com/motels-for-sale is a good site that could help you to sell your motel. When listing there don't forget to indicate that BTC is accepted. The other option is to put  "for Sale" banner right  at the  frontage of Route 66. BtW, you can sell for $ and buy BTC after selling. If I were you, I would use motel to earn BTC rather to sell it.

Someone might take this kind of offer here if the right person sees this post. this is how the Pizza story starts and now you have this kind of offer. someone who earns lots of cash in this massive bull run might want your offer. so better luck for you hope you find some good buyer soon.

If this is real then am really missing out on this Crypto. You mean giving out your motel in exchange for bitcoin is investing in bitcoin really worth it? Or could this be an over hyped and overrated investment.

If I follow this suite will I make it, because I'm still naive and new to the system. Is there any guidelines I should follow before or probably a link I can get information on how to read and understand how to go about investing in coin

Zillow is the one that I've first thought of but as you've said, they're for residential but isn't that possible if you're going to list it on the new construction? Other than the marketplace of the forum, I can't think of other place you can post this sale.
How about in reddit? on: https://www.reddit.com/r/Bitcoin/

Thanks for the feedback.   yeah, bitcoin-realestate.com is actually the first site I listed the property on. The listing was active for about 1 to 2 months, and during that period, I had only received maybe 3 emails from scammers.    (same message with slightly different wording from different email addresses).  It'd appear that bitcoin-realestate.com has little to no traffic. That's why I decided to come here and ask though.     Thanks for bringing it to my attention nonetheless.  Regards~ 

Did you take a look at the https://bitcoin-realestate.com/?

I did not use that website and only found it with Google. I did not find scam accusation on this one but you must check its history more.

When you find one to trade your motel for bitcoin, you have to pay attention on the details of deal. Wait for more than 6 or 12 confirmations of the bitcoin payment transaction before you release your real estate.

The less confirmation of that payment transaction, the higher risk you have to take. Never release your real estate for unconfirmed, waiting payment transaction.

LOL.. Thanks for sharing your experience!  5% commission sounds a lot but I guess you are right. When it comes to big transaction like this, it is better to stay on the safe side.

BTW, leasing out the "motel business" is a great idea! I honestly haven't thought of that. Thank you so much for sharing your thoughts with me. 

I've never listed any properties myself on loopnet, but I've used it to find properties.  Loopnet is great for vacant land or buildings, but not so much for an operational business.



Well, the first time I did this I was a total noob, and I had no idea what I was getting into.  The reason we pay real-estate agents and brokers the big bucks is because they save us from having to do our own due diligence, and can protect us from losing money.  I will say that this type of an approach is less risky for the seller than the buyer, usually.

One option that you might want to keep open is to sell the "Motel Business" while retaining ownership of the property itself.  That way, someone else is running the business while you get passive income from the lease.  Also, you may have an easier time convincing a tenant to pay you in bitcoin by putting it in the lease agreement.  

Thank you so much for the valuable feedback and thank you for telling me about Real-Estate Attorney! I didn't even know I could do that! Like I said, my knowledge is very limited. I really appreciate your feedback!  

I've got a question for you if you don't mind my asking.  Did you manage to sell the building on Loopnet on your own? Or did you contract a real-estate broker or firm to do that for you?  Would you advise a total noob to sell a property that's worth about $750,000 on loopnet on my own without any assistance?

I am thinking of following your advice at this point - find the buyer myself and contract an attorney to draft the final sale contract.

Thanks again!

Loopnet is by far the most popular commercial real-estate website in the US, I've used them before and been pleased.  If you insist on a crypto sale it's likely to take you a while to find a buyer.  If you're in a hurry to sell the property you probably shouldn't put those kind of conditions on the sale.

As for brokers or real-estate agents, they're helpful finding buyers, title and escrow companies.  If you already have a title/escrow company you want to work with, and find the buyer yourself you can contract a Real-Estate Attorney to draft up the contracts.  Usually a real-estate sale contract drafted by a lawyer will cost you about $10k.  Depending on the price of the property that may be less than the commission fees charged by brokers and real-estate agents.

Very good point! Thank you sir for the valuable feedback!  Yes I thought about the traditional route and here's the problem -- most people in the market for this kind of properties (small-to-medium size hospitality properties) are usually small-business people with not a lot of cash in hand, and they would usually need to borrow directly from the sellers (seller financing). Personally I prefer an all-cash deal as I don't have the intention of lending any money.

When it comes to commercial real estate, mortgage is a totally different beast (I only learned it recently). Mortgage is difficult to be obtained especially for business with no proven track record. Well, I know the motel is in a good location with decent amount of traffic (Route 66). However, since the motel had been closed down for construction/renovation purpose for the past 3 years, I don't really have anything to show off.  That's kinda why I decided to turn to the Crypto crowd who are probably awash in cash.  I hope that makes sense.

Thank you so much for your reply!  Very happy to hear from a fellow crypto enthusiast! 

Per your suggestion, I've listed the motel on /marketplace/goods section for 15 BTC. Really curious if someone will respond to my ad.. lol.. Fingers crossed. 

Truth is I've spent the past 3 years in New Mexico, visiting all the local attractions and national parks almost on a daily basis (national parks remain open even during the pandemics, thank God!), and I desperately need a change of scenery. lol..

That's why I probably won't consider running the place on my own (or hiring a manager..etc) cuz I'm ready to move on with my life and do something else.  Truth be told, travel has always been my biggest passion, and I really thought owning a hotel/motel would make me happy.  Let's just say things did not turn out the way I envisioned. Being a motel owner wasn't as fun as I imagined it would be.. lol

When I got my motel, I thought I would be so happy swimming in my own pool every day and have people work for me and cook for me.  Nope!  I guess I get bored very easily and can't really stay at one place for a very long time. Now I'm done with high desert and ready to move on to something else, maybe the beach. 

Anyways, thanks for the input! really appreciate it!    If you can think of any place else where I can list my property for Crypto, please let me know.


PS: I think I might get a real estate agent involved at some point to help facilitate the transaction (and help with paperwork). My knowledge is definitely limited in this area. Thanks for the suggestion though!

It might make sense for you but it narrows down a lot of potential buyers, not only do you have to find a buyer who wants to pay with crypto but you have to find one that has this amount now in crypto is willing to let go of it. Buying through a mortgage dealer would make more sense to anyone including somebody who has coins because if he is that heavily invested in crypto as he obviously expects the coin prices to go up.

My personal opinion is that waiting for a client that first your criteria is going to be a long wait and it seems like time is not something you're willing to spend around. You should reconsider those costs which I don't think are that high compared to the possibility of never finding a client.
What could be the reason those websites either close down or are a ghost town now? Because they have offers but no actual clients.

All the sales for crypto I've seen to date have been through a real estate brokerage agency or realtor so you might try this route.

That being said, loopnet might be an option, there are people selling commercial estate and they do allow you to mention you want bitcoin
https://www.loopnet.com/Listing/427-S-Main-St-Cedar-City-UT/21189801/

Wow, what an interesting asset.
If I were you I would definitely hire some lawyer or agent to help with the legal stuff and administration required when selling real estates. (unless you are experienced in this field).

For start you can try listing on this forum just to check if there is any interest. Put it in marketplace\goods section
I'm pretty sure lot of local users can afford such deal and If anyone gets interested you can negotiate exact details how to proceed further.

BTW As you said running a motel is not your call. Have you considered hiring a deputy to take care of the annoying part? Could be much less hassle.

Thanks everyone for your feedback and support! The property will be listed by an agent; and as per agreement, I'm no longer allowed to advertised the property myself.

Really appreciate all your comments and for pointing out all the potential pitfalls!

Thanks again!!