mona
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- Joined
- Mar 19, 2013
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I'm curious if lease purchase options are common in this industry?
I've always dreamt of having a B&B and am now beginning to plan on making this a reality. However, the fear I have is that I'll buy a property, the business will be unsustainable, and then I'll be unable to sell the house. I know that owning your own business requires risk- which I'm more than willing to take, but the commitment to a huge mortgage seems like its just too much. So I've been thinking of alternatives such as lease/purchase options, which would allow me a year or two to actually operate the business and determine whether a particular B&B is a viable, sustainable business option for me. By no means am I trying to get rich. I'm really not even interested in profit at all- I just would need to know that it could pay for itself. I'm 27 years old and single, so there's no pension or spouse's income that I could rely on.
Has anyone had success in buying a B&B by first leasing? Is this something seller's are open to and willing to consider? More importantly, are YOU open to this? I'd pretty much relocate anywhere to follow this dream
Thanks for any info!
-M
I've always dreamt of having a B&B and am now beginning to plan on making this a reality. However, the fear I have is that I'll buy a property, the business will be unsustainable, and then I'll be unable to sell the house. I know that owning your own business requires risk- which I'm more than willing to take, but the commitment to a huge mortgage seems like its just too much. So I've been thinking of alternatives such as lease/purchase options, which would allow me a year or two to actually operate the business and determine whether a particular B&B is a viable, sustainable business option for me. By no means am I trying to get rich. I'm really not even interested in profit at all- I just would need to know that it could pay for itself. I'm 27 years old and single, so there's no pension or spouse's income that I could rely on.
Has anyone had success in buying a B&B by first leasing? Is this something seller's are open to and willing to consider? More importantly, are YOU open to this? I'd pretty much relocate anywhere to follow this dream
Thanks for any info!
-M