Would there be interest in my property?

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Jmills

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Hi all! And thank you for the welcome into the forum.
To cut to it, I have a property that was formerly a bed and breakfast on 21ac, built in '99 Commercial, kitchen, 6/7ba (each bed has its own bath), 2 covered porches with fans, well manicured lawn, walking trail to the spring, stocked fishing pond, perennials, blackberry and fruit trees. The list goes on. Amazing place.
Everyone I have met in 3 surrounding towns has been in "Bessy's old place."
There isn't much here in the way of city life, but we are right between 2 good floating rivers and the only industry besides cows and forest products is hospitality.
I bought it as a single family home 5 years ago and the wife and all of the kids and I have lived there ever since. Love it.
I am considering either leasing the property to someone to set back up a B&B, or setting up the business and hiring the innkeeper. I dont really want to sell it. My current finances can handle owning this property, even in the worst case scenario.
I believe there would still be a great opportunity for the person who took it over (I have had at least 2 ppl every summer show up to see if it was a B&B still). And you can feed the locals in the off season, as there are not other restaurants near by.
Is this something people would be interested in? Am I just crazy thinking this could work?
 

Morticia

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It sounds lovely. Where will you live? How will you rebuild the business? What will you do if the person you hire walks of the job when the house is full? Can you get insurance on the property as a B&B? Can you get the proper licensing back again? What does the town/state require for a business to operate?

All things to think about.
 

Jmills

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It sounds lovely. Where will you live? How will you rebuild the business? What will you do if the person you hire walks of the job when the house is full? Can you get insurance on the property as a B&B? Can you get the proper licensing back again? What does the town/state require for a business to operate?

All things to think about.
Mortician,
Thanks for your reply! I currently own rental properties and am planning to purchase a main property that has 2 other rental properties with it as well.
Basically, in a perfect world what I'd like is a person who is trying to build the business back from the ground up. Personally I would rather lease the property to someone willing to do that.
As far as insurance, and licensing, I believe those would not be an issue as it was licensed and insured for the 15yrs prior to my purchase. There are no town requirements. There would be a health and occupancy inspection required by the state.
Our area is high traffic for river floaters. As far as someone walking off the job... adapt and overcome. What else can you do?
All great questions!
 

gillumhouse

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WHERE is important. At least the State. A person would want at least an idea of where, climate, is it a place I would want to be? Not speaking as a person interested in this - I will leave West Virginia only when I reach room temp.
 

Jmills

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WHERE is important. At least the State. A person would want at least an idea of where, climate, is it a place I would want to be? Not speaking as a person interested in this - I will leave West Virginia only when I reach room temp.
In the Ozark Mountains, Ozark County, MO.
WV is pretty by the way. I dont blame you 1 bit. 😁
 

gillumhouse

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Been there - nice area also.
 

Morticia

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@Jmills You might check with your state B&B association to see if they have a classified section on their website. Advertise there for the person you want. I know we occasionally get folks on here looking for what you’re offering so you might want to change the title of your post to ‘looking for an innkeeper’ or something like that. Make it easy to find this post later on.
 

Tamelon

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I think this is a really great opportunity for an aspiring innkeeper/couple as well as for a restauranteur. Now is the time to clarify your goals for the house, then work to get the right, savvy and trustworthy partners to make it happen. Many innkeepers are exiting the business (in my town, three out of five of us although not me) and looking for new opportunities. You could offer a lease or salary, but definitely offer incentive bonuses or partnership.
 
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