The journey of faith continues! In my last update, which was a while ago, I mentioned that we were paying the payments and moving toward purchase that way. After that began, the owners informed us that the bank was calling the loan and we would need to purchase the motel in the next few months. I met with the owners and concluded that this took them by surprise as well. We immediately began our search for someone to loan us the amount. We found out quickly that our financial situation is not conducive for that kind of loan (about $300,000). The interesting thing is that we can prove a sufficient income stream right now for payments and expenses from the renters, but that was not enough. We are back to needing about $120,000 for a down payment in order to secure a loan or needing another pathway yet to be made known.
Please pray as we seek the Lord for His Will in all of this. Right now with the units we are renting, we have an income stream sufficient to pay the payments, utilities, taxes, etc. We just need a pathway to purchase it.
Recently the Lord used the truth in a little book The Red Sea Rules by Robert Morgan to encourage my heart. The Lord led His children into a situation with the Red Sea before them, the mountains on either side and the Egyptians behind them. It was a situation out of which only the Lord could lead them. We are looking to the Lord to be glorified as He leads us in this situation.
For more information on this journey, including the original video and our updates along the way, please click here. Otherwise, you can donate toward this project through the panel below or on our donate page.[fundraiser_panel id=”4556″ style=”wdf-mmhq” show_title=”yes”]