searching for the dream B&B

2 replies [Last post]
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Joined:
01/11/2020

We are in the market for our dream B&B for over a year. Looked at several properties - we loved some of them and some just wouldn't work. The ones we really liked had drawbacks - like one was a really nice upscale 5 room B&B in a superb tourist location with supporting numbers - but seller was only licensed for 3 rooms !! This was a NO NO for us, just too risky

Locations we are looking at: Southeast, Rockies or West Coast. We are pretty much open to where we want to move to. Needs to be Financially Viable ( no Lifestyle Inn ), decent owners quarters ( not just a room ), up to around 10 rooms and up to about 1.5M. Would prefer an upscale B&B

May be somebody knows of an Inn for sale or wants to sell his Inn - shoot me an email at info@sunnycapehomes.com

 

Thank you

Volker and Barbara

 

JimBoone's picture
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Joined:
12/18/2014

Just an old guy's comments:

>>>Financially Viable ( no Lifestyle Inn )

That's a broad area, where do we draw the line? I chose the business because I wanted the "lifestyle", but yes, I expected to make money. From my view it is sometimes not making money, but using all the income to service debt. We purchased the less expensive "dump" and over time created our version of "upscale".

>>>decent owners quarters ( not just a room )

I agree, I would quickly tire of living that life, our building was a small roadside motel, we absorbed several guest rooms into the small apartment to create the living quarters I wanted. I think one of our forum members created an in from a group of former commercial buildings, I think there is one not too distant from me that was created from an old mill, let the mind wander and consider the unusual.

>>>up to around 10 rooms and up to about 1.5M. Would prefer an upscale B&B

This comment may be more to your insurance post, you price range as well as insurance quote seems a good bit higher than mine, one may follow the other. Did the insurance quote also include workers comp if you were planning on staff?

Good fortune with your plans, we've been at this a long time now and I still love the business. Jim

 

__________________

Jim & Maxine

 

Offline
Joined:
01/11/2020

upps - posted this in the wrong forum, may be somebody can move it to "Buying or Selling a BB" ? Thank you

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