Hello, doing an intro
Hello, doing an intro Oct 5, 2018 6:55 PM
I have posted some, but never officially introduced myself.
I have about 15 total years of being a landlord, although I work in IT.
She and I had spend a few years studying about opening a B&B. Went to official conferences and all. But the major problem is, that is an all-consuming role, where you often feel trapped, and can never leave. Waiting around for several early hours in the morning catering to 15 different gluten-vegan-religious- other dietary preferences. And anyway, the VR industry is rapidly killing them off.
I have also consumed tons of VR marketing-tech-opportunity and other things.
March this year, I thought I was buying a couple of town homes in 3-unit building. And it turns out to have been the mansion of one of the most important men (albeit relatively unknown) in American history. SO, I am going to play this up in the two units.
In a week, closing on a 6 unit building (5 apartments) that will also be VRs.
My ultimate goal, is that these 7 VRs are a piece of a destination spa, with tours, wellness, acting workshops, and several other things.
I am in a small tourist town that gets perhaps 300-400,000 annual visitors
I am all consumed with a lot of basic rehab and furnishing and appliances and all the other things. While trying to do my job and having over a dozen disabilities. The townhomes were essentially low end apartments, almost every square inch needed some kind of treatment.
Being nebulous here about specifics, but you get some of the idea.
The real problem is, I loaded up two of my rental properties elsewhere with debt, to get these properties. And of course, they won't really be getting people until perhaps late Nov - early December. No repeats, no referrals, totally dependent on OTAs and winter is worst time of year in the North to get clients. I just want to hold on to May until the VR market starts heating up.
Based on my projections, these 7 VRs should gross perhaps $170-$200,000 annually - once everything up and running. Of course, mortgages, insurance, chargebacks, property taxes, OTA fees, cleaning, furnishings, maintenance, technology fees, credit card fees, utilities, damage, etc.