Did not see that coming...

[undersea]

are you renegotiating the price? we did after the inspection.
she just wanted out so she agreed..

Funny, i thought we were done. I canceled deal.
3 days later, selling broker called. Going to bring in contractors to give estimates.
Not optimistic
.

Sellers must be desperate. Hasn't the place been on the market for a long time? You might be the first to have made any offer at all. Sounds like you could have some significant bargaining power to re-negotiate, assuming you still have any interest in the property and it can be fixed up...
.

Bank owned. 185,000 was the price, but inspector found 80,000 in major issues.
So, reality is that 15 acre lot (forested, hilly, rocky) is a beauty. But also seems to be where the value is.
Cannot see them making that magnitude of fixes.
.

Bank owned. 185,000 was the price, but inspector found 80,000 in major issues. So, reality is that 15 acre lot (forested, hilly, rocky) is a beauty. But also seems to be where the value is. Cannot see them making that magnitude of fixes.

They won't make the fixes, but they might come down in price so that your mortgage can cover the fixes. That is what we did. Seller paid for the fixes in a reduced price but we lived through the construction.
In the end it was worth it.
.

the "stream" through the crawlspace and the mold throughout estimated 25-30K are nonnegotiable. I get no value fixing either of these. They already said that the mold had been addressed (wrong!)
The deck problems and the bad roof I already knew about, and I think the price generally reflected these two.
The cracked support under the one side of the building and the trees that screwed up the foundation on one side ($10K for both), I would like to see them pay most of.
The oil boiler being bad, I not mind so much. Was already planning getting the hyperefficient (Mitsubishi) ductless heat pumps. If I can get them to credit half the $12K estimate (or whatever), I am actually ahead...
The unbalanced fuse box/circuit breaker I would like them to remedy.
I am currently arranging a bunch of contractors to give estimates.
I am not optimistic, but on the other hand, they may not have much choice. They have the inspection report, and trying to hide any of this stuff is probably illegal in Pennsylvania (even though it is a commercial house).

 

[EmptyNest]

are you renegotiating the price? we did after the inspection.
she just wanted out so she agreed..

Funny, i thought we were done. I canceled deal.
3 days later, selling broker called. Going to bring in contractors to give estimates.
Not optimistic
.

Sellers must be desperate. Hasn't the place been on the market for a long time? You might be the first to have made any offer at all. Sounds like you could have some significant bargaining power to re-negotiate, assuming you still have any interest in the property and it can be fixed up...
.

Bank owned. 185,000 was the price, but inspector found 80,000 in major issues.
So, reality is that 15 acre lot (forested, hilly, rocky) is a beauty. But also seems to be where the value is.
Cannot see them making that magnitude of fixes.
.

Bank owned. 185,000 was the price, but inspector found 80,000 in major issues. So, reality is that 15 acre lot (forested, hilly, rocky) is a beauty. But also seems to be where the value is. Cannot see them making that magnitude of fixes.

They won't make the fixes, but they might come down in price so that your mortgage can cover the fixes. That is what we did. Seller paid for the fixes in a reduced price but we lived through the construction.
In the end it was worth it.
.

the "stream" through the crawlspace and the mold throughout estimated 25-30K are nonnegotiable. I get no value fixing either of these. They already said that the mold had been addressed (wrong!)
The deck problems and the bad roof I already knew about, and I think the price generally reflected these two.
The cracked support under the one side of the building and the trees that screwed up the foundation on one side ($10K for both), I would like to see them pay most of.
The oil boiler being bad, I not mind so much. Was already planning getting the hyperefficient (Mitsubishi) ductless heat pumps. If I can get them to credit half the $12K estimate (or whatever), I am actually ahead...
The unbalanced fuse box/circuit breaker I would like them to remedy.
I am currently arranging a bunch of contractors to give estimates.
I am not optimistic, but on the other hand, they may not have much choice. They have the inspection report, and trying to hide any of this stuff is probably illegal in Pennsylvania (even though it is a commercial house).
.

I still think you are asking for BIG TROUBLE. Surely you can find a better property than this. A turnkey one that would get you going quickly. Lord knows what else you will discover in this money trap. I think it is foolish to take on this many really big problems. I can't see them fixing for you.. and if they by some chance would...I would still be leary of their fixes. If the bank owns it...they aren't going to want to mess around with this. WALK AWAY!

 

[user 26]

ugh ... I agree with Empty Nest ... there are so many other properties out there. I'd walk away.

 

[OnTheShore]

As they say in real estate, "Location, location, location!"
Set aside all the issues with the building for the moment.
Is the property itself worth pursuing? Does it have a great view? Any features on the property that would attract guests? Is it located in proximity to other things in the area that would attract guests? Is it appropriately zoned for whatever business you might want to develop? What are the neighboring properties like? Is there already significant competition for the businesses that you envision?
Only if the property meets whatever criteria you choose for the "location" aspect would it be worth going any further (and even then, maybe not...)
Now to the building -- you have to consider the worse-case scenario -- is there enough value in the property and location such that it could potentially be feasible to scrape the existing building (after salvaging any worthwhile materials) and starting over with new construction to your own specification, purpose-designed to meet the needs of the business(es) you envision? If yes, then negotiate your best deal and buy the property.
If no, then you really need to look very seriously at whether rehabilitation of the existing building is feasible. First, does the existing structure have any historical or sentimental values that might make the effort worthwhile? Another consideration might be, how much of this kind of work can you do yourself, vs. how much would you have to hire out to contractors? Do you even have the time to be pursuing such a project? Keep in mind not only the work that needs to be done to make the structure safe and sound, but also the renovations you need to accomplish to meet the needs of the business(es) you envision. At this point, you might think again about scraping it and starting over... but only if there is significant value in the land itself.

 

[undersea]

As they say in real estate, "Location, location, location!"
Set aside all the issues with the building for the moment.
Is the property itself worth pursuing? Does it have a great view? Any features on the property that would attract guests? Is it located in proximity to other things in the area that would attract guests? Is it appropriately zoned for whatever business you might want to develop? What are the neighboring properties like? Is there already significant competition for the businesses that you envision?
Only if the property meets whatever criteria you choose for the "location" aspect would it be worth going any further (and even then, maybe not...)
Now to the building -- you have to consider the worse-case scenario -- is there enough value in the property and location such that it could potentially be feasible to scrape the existing building (after salvaging any worthwhile materials) and starting over with new construction to your own specification, purpose-designed to meet the needs of the business(es) you envision? If yes, then negotiate your best deal and buy the property.
If no, then you really need to look very seriously at whether rehabilitation of the existing building is feasible. First, does the existing structure have any historical or sentimental values that might make the effort worthwhile? Another consideration might be, how much of this kind of work can you do yourself, vs. how much would you have to hire out to contractors? Do you even have the time to be pursuing such a project? Keep in mind not only the work that needs to be done to make the structure safe and sound, but also the renovations you need to accomplish to meet the needs of the business(es) you envision. At this point, you might think again about scraping it and starting over... but only if there is significant value in the land itself..

The place is unbelievably perfect. Zoned commercial, 15+ beautiful acres, good price, near major tourist attractions, nice home if corrected, drivable to work, and many buttons pushed.
There is actually little on the market that satisfies what we trying to do

 

[happykeeper]

As they say in real estate, "Location, location, location!"
Set aside all the issues with the building for the moment.
Is the property itself worth pursuing? Does it have a great view? Any features on the property that would attract guests? Is it located in proximity to other things in the area that would attract guests? Is it appropriately zoned for whatever business you might want to develop? What are the neighboring properties like? Is there already significant competition for the businesses that you envision?
Only if the property meets whatever criteria you choose for the "location" aspect would it be worth going any further (and even then, maybe not...)
Now to the building -- you have to consider the worse-case scenario -- is there enough value in the property and location such that it could potentially be feasible to scrape the existing building (after salvaging any worthwhile materials) and starting over with new construction to your own specification, purpose-designed to meet the needs of the business(es) you envision? If yes, then negotiate your best deal and buy the property.
If no, then you really need to look very seriously at whether rehabilitation of the existing building is feasible. First, does the existing structure have any historical or sentimental values that might make the effort worthwhile? Another consideration might be, how much of this kind of work can you do yourself, vs. how much would you have to hire out to contractors? Do you even have the time to be pursuing such a project? Keep in mind not only the work that needs to be done to make the structure safe and sound, but also the renovations you need to accomplish to meet the needs of the business(es) you envision. At this point, you might think again about scraping it and starting over... but only if there is significant value in the land itself..

The place is unbelievably perfect. Zoned commercial, 15+ beautiful acres, good price, near major tourist attractions, nice home if corrected, drivable to work, and many buttons pushed.
There is actually little on the market that satisfies what we trying to do
.

I got a little bump on the skin when I saw the "drive to work" value. You obviously have a lot more drive to work than we do and we are pretty hard workers now and then.

 

[EmptyNest]

As they say in real estate, "Location, location, location!"
Set aside all the issues with the building for the moment.
Is the property itself worth pursuing? Does it have a great view? Any features on the property that would attract guests? Is it located in proximity to other things in the area that would attract guests? Is it appropriately zoned for whatever business you might want to develop? What are the neighboring properties like? Is there already significant competition for the businesses that you envision?
Only if the property meets whatever criteria you choose for the "location" aspect would it be worth going any further (and even then, maybe not...)
Now to the building -- you have to consider the worse-case scenario -- is there enough value in the property and location such that it could potentially be feasible to scrape the existing building (after salvaging any worthwhile materials) and starting over with new construction to your own specification, purpose-designed to meet the needs of the business(es) you envision? If yes, then negotiate your best deal and buy the property.
If no, then you really need to look very seriously at whether rehabilitation of the existing building is feasible. First, does the existing structure have any historical or sentimental values that might make the effort worthwhile? Another consideration might be, how much of this kind of work can you do yourself, vs. how much would you have to hire out to contractors? Do you even have the time to be pursuing such a project? Keep in mind not only the work that needs to be done to make the structure safe and sound, but also the renovations you need to accomplish to meet the needs of the business(es) you envision. At this point, you might think again about scraping it and starting over... but only if there is significant value in the land itself..

The place is unbelievably perfect. Zoned commercial, 15+ beautiful acres, good price, near major tourist attractions, nice home if corrected, drivable to work, and many buttons pushed.
There is actually little on the market that satisfies what we trying to do
.

Well maybe then just buy it, tear the place down and start over. Sounds more doable to me. The place is far from perfect.

 

[undersea]

As they say in real estate, "Location, location, location!"
Set aside all the issues with the building for the moment.
Is the property itself worth pursuing? Does it have a great view? Any features on the property that would attract guests? Is it located in proximity to other things in the area that would attract guests? Is it appropriately zoned for whatever business you might want to develop? What are the neighboring properties like? Is there already significant competition for the businesses that you envision?
Only if the property meets whatever criteria you choose for the "location" aspect would it be worth going any further (and even then, maybe not...)
Now to the building -- you have to consider the worse-case scenario -- is there enough value in the property and location such that it could potentially be feasible to scrape the existing building (after salvaging any worthwhile materials) and starting over with new construction to your own specification, purpose-designed to meet the needs of the business(es) you envision? If yes, then negotiate your best deal and buy the property.
If no, then you really need to look very seriously at whether rehabilitation of the existing building is feasible. First, does the existing structure have any historical or sentimental values that might make the effort worthwhile? Another consideration might be, how much of this kind of work can you do yourself, vs. how much would you have to hire out to contractors? Do you even have the time to be pursuing such a project? Keep in mind not only the work that needs to be done to make the structure safe and sound, but also the renovations you need to accomplish to meet the needs of the business(es) you envision. At this point, you might think again about scraping it and starting over... but only if there is significant value in the land itself..

The place is unbelievably perfect. Zoned commercial, 15+ beautiful acres, good price, near major tourist attractions, nice home if corrected, drivable to work, and many buttons pushed.
There is actually little on the market that satisfies what we trying to do
.

I got a little bump on the skin when I saw the "drive to work" value. You obviously have a lot more drive to work than we do and we are pretty hard workers now and then.

.

I get a decent salary and benefits - job is OK but not enthralling. Positive thing is we don't have to worry about living expenses. She is the very social one. I will help evenings and weekends. We plan to hire cleaning or other assistance once we have enough guests to make it worthwhile. (no point hiring someone to clean one room!)
Both very looking much forward to this.
We looked at another place last night. 3300SF, commercial, 10 years old, former modular model home/used autos, 1.5 acres, country-ish. Currently under $200K. Family living in nice 3br/2ba above. The downstairs was office area, but has some potential that may be useful for a few of the things we want to do (God willing and the creek don't rise

 

[happykeeper]

As they say in real estate, "Location, location, location!"
Set aside all the issues with the building for the moment.
Is the property itself worth pursuing? Does it have a great view? Any features on the property that would attract guests? Is it located in proximity to other things in the area that would attract guests? Is it appropriately zoned for whatever business you might want to develop? What are the neighboring properties like? Is there already significant competition for the businesses that you envision?
Only if the property meets whatever criteria you choose for the "location" aspect would it be worth going any further (and even then, maybe not...)
Now to the building -- you have to consider the worse-case scenario -- is there enough value in the property and location such that it could potentially be feasible to scrape the existing building (after salvaging any worthwhile materials) and starting over with new construction to your own specification, purpose-designed to meet the needs of the business(es) you envision? If yes, then negotiate your best deal and buy the property.
If no, then you really need to look very seriously at whether rehabilitation of the existing building is feasible. First, does the existing structure have any historical or sentimental values that might make the effort worthwhile? Another consideration might be, how much of this kind of work can you do yourself, vs. how much would you have to hire out to contractors? Do you even have the time to be pursuing such a project? Keep in mind not only the work that needs to be done to make the structure safe and sound, but also the renovations you need to accomplish to meet the needs of the business(es) you envision. At this point, you might think again about scraping it and starting over... but only if there is significant value in the land itself..

The place is unbelievably perfect. Zoned commercial, 15+ beautiful acres, good price, near major tourist attractions, nice home if corrected, drivable to work, and many buttons pushed.
There is actually little on the market that satisfies what we trying to do
.

I got a little bump on the skin when I saw the "drive to work" value. You obviously have a lot more drive to work than we do and we are pretty hard workers now and then.

.

I get a decent salary and benefits - job is OK but not enthralling. Positive thing is we don't have to worry about living expenses. She is the very social one. I will help evenings and weekends. We plan to hire cleaning or other assistance once we have enough guests to make it worthwhile. (no point hiring someone to clean one room!)
Both very looking much forward to this.
We looked at another place last night. 3300SF, commercial, 10 years old, former modular model home/used autos, 1.5 acres, country-ish. Currently under $200K. Family living in nice 3br/2ba above. The downstairs was office area, but has some potential that may be useful for a few of the things we want to do (God willing and the creek don't rise
.

Mostly it was because we are full time innkeepers and I often wonder how others can find the time to grow a successful business while half their focus is elsewhere. Mind you, I am NOT a multi-tasker, so my wonderment may simply be that I don't have that skill.

 

[undersea]

As they say in real estate, "Location, location, location!"
Set aside all the issues with the building for the moment.
Is the property itself worth pursuing? Does it have a great view? Any features on the property that would attract guests? Is it located in proximity to other things in the area that would attract guests? Is it appropriately zoned for whatever business you might want to develop? What are the neighboring properties like? Is there already significant competition for the businesses that you envision?
Only if the property meets whatever criteria you choose for the "location" aspect would it be worth going any further (and even then, maybe not...)
Now to the building -- you have to consider the worse-case scenario -- is there enough value in the property and location such that it could potentially be feasible to scrape the existing building (after salvaging any worthwhile materials) and starting over with new construction to your own specification, purpose-designed to meet the needs of the business(es) you envision? If yes, then negotiate your best deal and buy the property.
If no, then you really need to look very seriously at whether rehabilitation of the existing building is feasible. First, does the existing structure have any historical or sentimental values that might make the effort worthwhile? Another consideration might be, how much of this kind of work can you do yourself, vs. how much would you have to hire out to contractors? Do you even have the time to be pursuing such a project? Keep in mind not only the work that needs to be done to make the structure safe and sound, but also the renovations you need to accomplish to meet the needs of the business(es) you envision. At this point, you might think again about scraping it and starting over... but only if there is significant value in the land itself..

The place is unbelievably perfect. Zoned commercial, 15+ beautiful acres, good price, near major tourist attractions, nice home if corrected, drivable to work, and many buttons pushed.
There is actually little on the market that satisfies what we trying to do
.

I got a little bump on the skin when I saw the "drive to work" value. You obviously have a lot more drive to work than we do and we are pretty hard workers now and then.

.

I get a decent salary and benefits - job is OK but not enthralling. Positive thing is we don't have to worry about living expenses. She is the very social one. I will help evenings and weekends. We plan to hire cleaning or other assistance once we have enough guests to make it worthwhile. (no point hiring someone to clean one room!)
Both very looking much forward to this.
We looked at another place last night. 3300SF, commercial, 10 years old, former modular model home/used autos, 1.5 acres, country-ish. Currently under $200K. Family living in nice 3br/2ba above. The downstairs was office area, but has some potential that may be useful for a few of the things we want to do (God willing and the creek don't rise
.

Mostly it was because we are full time innkeepers and I often wonder how others can find the time to grow a successful business while half their focus is elsewhere. Mind you, I am NOT a multi-tasker, so my wonderment may simply be that I don't have that skill.
.

I suppose it depends partly on their business processes. Some seem to answer every phone call, not feeling they have to get to 100% online booking. I plan to let all calls go to voicemail, to eliminate robo or sales calls, tell the caller that booking on the website represents a discount, and screen any messages in case I don't want to respond (late night, PITA types, tour seekers, etc.)
It also depends on number of rooms, other service (concierge? wedding?), price points (budget vs. "full service"), building maintenance, etc.
It is my intent to focus on the more personable and interesting stuff and hire out things like mowing, cleaning, and other stuff. Dealing with an 80 year old building is a totally different situation than a 10 year old building.
But until one goes from aspiring to actual innkeeper, it remains somewhat theory.
As an owner of about 10 apt units, I have a part time property manager, specialists for repairs, use lawyer for evictions, but I like to handle the new tenant screening myself.

 

[JBloggs]

As they say in real estate, "Location, location, location!"
Set aside all the issues with the building for the moment.
Is the property itself worth pursuing? Does it have a great view? Any features on the property that would attract guests? Is it located in proximity to other things in the area that would attract guests? Is it appropriately zoned for whatever business you might want to develop? What are the neighboring properties like? Is there already significant competition for the businesses that you envision?
Only if the property meets whatever criteria you choose for the "location" aspect would it be worth going any further (and even then, maybe not...)
Now to the building -- you have to consider the worse-case scenario -- is there enough value in the property and location such that it could potentially be feasible to scrape the existing building (after salvaging any worthwhile materials) and starting over with new construction to your own specification, purpose-designed to meet the needs of the business(es) you envision? If yes, then negotiate your best deal and buy the property.
If no, then you really need to look very seriously at whether rehabilitation of the existing building is feasible. First, does the existing structure have any historical or sentimental values that might make the effort worthwhile? Another consideration might be, how much of this kind of work can you do yourself, vs. how much would you have to hire out to contractors? Do you even have the time to be pursuing such a project? Keep in mind not only the work that needs to be done to make the structure safe and sound, but also the renovations you need to accomplish to meet the needs of the business(es) you envision. At this point, you might think again about scraping it and starting over... but only if there is significant value in the land itself..

The place is unbelievably perfect. Zoned commercial, 15+ beautiful acres, good price, near major tourist attractions, nice home if corrected, drivable to work, and many buttons pushed.
There is actually little on the market that satisfies what we trying to do
.

I got a little bump on the skin when I saw the "drive to work" value. You obviously have a lot more drive to work than we do and we are pretty hard workers now and then.

.

I get a decent salary and benefits - job is OK but not enthralling. Positive thing is we don't have to worry about living expenses. She is the very social one. I will help evenings and weekends. We plan to hire cleaning or other assistance once we have enough guests to make it worthwhile. (no point hiring someone to clean one room!)
Both very looking much forward to this.
We looked at another place last night. 3300SF, commercial, 10 years old, former modular model home/used autos, 1.5 acres, country-ish. Currently under $200K. Family living in nice 3br/2ba above. The downstairs was office area, but has some potential that may be useful for a few of the things we want to do (God willing and the creek don't rise
.

Mostly it was because we are full time innkeepers and I often wonder how others can find the time to grow a successful business while half their focus is elsewhere. Mind you, I am NOT a multi-tasker, so my wonderment may simply be that I don't have that skill.
.

I suppose it depends partly on their business processes. Some seem to answer every phone call, not feeling they have to get to 100% online booking. I plan to let all calls go to voicemail, to eliminate robo or sales calls, tell the caller that booking on the website represents a discount, and screen any messages in case I don't want to respond (late night, PITA types, tour seekers, etc.)
It also depends on number of rooms, other service (concierge? wedding?), price points (budget vs. "full service"), building maintenance, etc.
It is my intent to focus on the more personable and interesting stuff and hire out things like mowing, cleaning, and other stuff. Dealing with an 80 year old building is a totally different situation than a 10 year old building.
But until one goes from aspiring to actual innkeeper, it remains somewhat theory.
As an owner of about 10 apt units, I have a part time property manager, specialists for repairs, use lawyer for evictions, but I like to handle the new tenant screening myself.
.

I suppose it depends partly on their business processes. Some seem to answer every phone call, not feeling they have to get to 100% online booking. I plan to let all calls go to voicemail, to eliminate robo or sales calls, tell the caller that booking on the website represents a discount, and screen any messages in case I don't want to respond (late night, PITA types, tour seekers, etc.)

AGREE 100%. Yes, 100%.
I have been running around like crazy today. I had two last minute cancellations for college grad weekend. One is a grandparent of a student who we have come to know over the last 4 years and she is ill, very ill, or would be here. Their only grandchild. and so I am not charging them the cancellation fee. and now I have lost business and so I am taking calls to rebook those rooms and every call has been a waste of my time, ALL DAY. Not one, every last one of them. Sponsor the home tour at the lake? What? That makes no sense whatsover, why would I sponsor a home tour at a lake, that I am not involved in? or in?
and on and on...
I have the message on - book it online, save $10 right now. So they will have to do it, I can't spend every minute of the day today I still have milk in my car to bring in...yes I was here answering the phone and two more messages are blinking.

 

[JBloggs]

As they say in real estate, "Location, location, location!"
Set aside all the issues with the building for the moment.
Is the property itself worth pursuing? Does it have a great view? Any features on the property that would attract guests? Is it located in proximity to other things in the area that would attract guests? Is it appropriately zoned for whatever business you might want to develop? What are the neighboring properties like? Is there already significant competition for the businesses that you envision?
Only if the property meets whatever criteria you choose for the "location" aspect would it be worth going any further (and even then, maybe not...)
Now to the building -- you have to consider the worse-case scenario -- is there enough value in the property and location such that it could potentially be feasible to scrape the existing building (after salvaging any worthwhile materials) and starting over with new construction to your own specification, purpose-designed to meet the needs of the business(es) you envision? If yes, then negotiate your best deal and buy the property.
If no, then you really need to look very seriously at whether rehabilitation of the existing building is feasible. First, does the existing structure have any historical or sentimental values that might make the effort worthwhile? Another consideration might be, how much of this kind of work can you do yourself, vs. how much would you have to hire out to contractors? Do you even have the time to be pursuing such a project? Keep in mind not only the work that needs to be done to make the structure safe and sound, but also the renovations you need to accomplish to meet the needs of the business(es) you envision. At this point, you might think again about scraping it and starting over... but only if there is significant value in the land itself..

The place is unbelievably perfect. Zoned commercial, 15+ beautiful acres, good price, near major tourist attractions, nice home if corrected, drivable to work, and many buttons pushed.
There is actually little on the market that satisfies what we trying to do
.

I got a little bump on the skin when I saw the "drive to work" value. You obviously have a lot more drive to work than we do and we are pretty hard workers now and then.

.

I get a decent salary and benefits - job is OK but not enthralling. Positive thing is we don't have to worry about living expenses. She is the very social one. I will help evenings and weekends. We plan to hire cleaning or other assistance once we have enough guests to make it worthwhile. (no point hiring someone to clean one room!)
Both very looking much forward to this.
We looked at another place last night. 3300SF, commercial, 10 years old, former modular model home/used autos, 1.5 acres, country-ish. Currently under $200K. Family living in nice 3br/2ba above. The downstairs was office area, but has some potential that may be useful for a few of the things we want to do (God willing and the creek don't rise
.

Mostly it was because we are full time innkeepers and I often wonder how others can find the time to grow a successful business while half their focus is elsewhere. Mind you, I am NOT a multi-tasker, so my wonderment may simply be that I don't have that skill.
.

I suppose it depends partly on their business processes. Some seem to answer every phone call, not feeling they have to get to 100% online booking. I plan to let all calls go to voicemail, to eliminate robo or sales calls, tell the caller that booking on the website represents a discount, and screen any messages in case I don't want to respond (late night, PITA types, tour seekers, etc.)
It also depends on number of rooms, other service (concierge? wedding?), price points (budget vs. "full service"), building maintenance, etc.
It is my intent to focus on the more personable and interesting stuff and hire out things like mowing, cleaning, and other stuff. Dealing with an 80 year old building is a totally different situation than a 10 year old building.
But until one goes from aspiring to actual innkeeper, it remains somewhat theory.
As an owner of about 10 apt units, I have a part time property manager, specialists for repairs, use lawyer for evictions, but I like to handle the new tenant screening myself.
.

I suppose it depends partly on their business processes. Some seem to answer every phone call, not feeling they have to get to 100% online booking. I plan to let all calls go to voicemail, to eliminate robo or sales calls, tell the caller that booking on the website represents a discount, and screen any messages in case I don't want to respond (late night, PITA types, tour seekers, etc.)

AGREE 100%. Yes, 100%.
I have been running around like crazy today. I had two last minute cancellations for college grad weekend. One is a grandparent of a student who we have come to know over the last 4 years and she is ill, very ill, or would be here. Their only grandchild. and so I am not charging them the cancellation fee. and now I have lost business and so I am taking calls to rebook those rooms and every call has been a waste of my time, ALL DAY. Not one, every last one of them. Sponsor the home tour at the lake? What? That makes no sense whatsover, why would I sponsor a home tour at a lake, that I am not involved in? or in?
and on and on...
I have the message on - book it online, save $10 right now. So they will have to do it, I can't spend every minute of the day today I still have milk in my car to bring in...yes I was here answering the phone and two more messages are blinking.
Update: listened- community day for all the county this one and that one businesses...who the heck is this?
In other news in my hunger I opened a can of Hormel chili and my dog suddenly appeared and my cat. I was hungry, and they backed me into a corner and I began to wonder "Is this what dog food tastes like?"

 

[happykeeper]

As they say in real estate, "Location, location, location!"
Set aside all the issues with the building for the moment.
Is the property itself worth pursuing? Does it have a great view? Any features on the property that would attract guests? Is it located in proximity to other things in the area that would attract guests? Is it appropriately zoned for whatever business you might want to develop? What are the neighboring properties like? Is there already significant competition for the businesses that you envision?
Only if the property meets whatever criteria you choose for the "location" aspect would it be worth going any further (and even then, maybe not...)
Now to the building -- you have to consider the worse-case scenario -- is there enough value in the property and location such that it could potentially be feasible to scrape the existing building (after salvaging any worthwhile materials) and starting over with new construction to your own specification, purpose-designed to meet the needs of the business(es) you envision? If yes, then negotiate your best deal and buy the property.
If no, then you really need to look very seriously at whether rehabilitation of the existing building is feasible. First, does the existing structure have any historical or sentimental values that might make the effort worthwhile? Another consideration might be, how much of this kind of work can you do yourself, vs. how much would you have to hire out to contractors? Do you even have the time to be pursuing such a project? Keep in mind not only the work that needs to be done to make the structure safe and sound, but also the renovations you need to accomplish to meet the needs of the business(es) you envision. At this point, you might think again about scraping it and starting over... but only if there is significant value in the land itself..

The place is unbelievably perfect. Zoned commercial, 15+ beautiful acres, good price, near major tourist attractions, nice home if corrected, drivable to work, and many buttons pushed.
There is actually little on the market that satisfies what we trying to do
.

I got a little bump on the skin when I saw the "drive to work" value. You obviously have a lot more drive to work than we do and we are pretty hard workers now and then.

.

I get a decent salary and benefits - job is OK but not enthralling. Positive thing is we don't have to worry about living expenses. She is the very social one. I will help evenings and weekends. We plan to hire cleaning or other assistance once we have enough guests to make it worthwhile. (no point hiring someone to clean one room!)
Both very looking much forward to this.
We looked at another place last night. 3300SF, commercial, 10 years old, former modular model home/used autos, 1.5 acres, country-ish. Currently under $200K. Family living in nice 3br/2ba above. The downstairs was office area, but has some potential that may be useful for a few of the things we want to do (God willing and the creek don't rise
.

Mostly it was because we are full time innkeepers and I often wonder how others can find the time to grow a successful business while half their focus is elsewhere. Mind you, I am NOT a multi-tasker, so my wonderment may simply be that I don't have that skill.
.

I suppose it depends partly on their business processes. Some seem to answer every phone call, not feeling they have to get to 100% online booking. I plan to let all calls go to voicemail, to eliminate robo or sales calls, tell the caller that booking on the website represents a discount, and screen any messages in case I don't want to respond (late night, PITA types, tour seekers, etc.)
It also depends on number of rooms, other service (concierge? wedding?), price points (budget vs. "full service"), building maintenance, etc.
It is my intent to focus on the more personable and interesting stuff and hire out things like mowing, cleaning, and other stuff. Dealing with an 80 year old building is a totally different situation than a 10 year old building.
But until one goes from aspiring to actual innkeeper, it remains somewhat theory.
As an owner of about 10 apt units, I have a part time property manager, specialists for repairs, use lawyer for evictions, but I like to handle the new tenant screening myself.
.

It does depend on many things, but the idea that full time innkeeping revolves around doing a bunch of stuff you don't need to do is a bit pollyannish. That's not to say that you can't automate a lot of what you do. We certainly have. Others here have it down to a science (think arks) and at the end of the day, we still find that we have to work at staying balanced.

 

[undersea]

As they say in real estate, "Location, location, location!"
Set aside all the issues with the building for the moment.
Is the property itself worth pursuing? Does it have a great view? Any features on the property that would attract guests? Is it located in proximity to other things in the area that would attract guests? Is it appropriately zoned for whatever business you might want to develop? What are the neighboring properties like? Is there already significant competition for the businesses that you envision?
Only if the property meets whatever criteria you choose for the "location" aspect would it be worth going any further (and even then, maybe not...)
Now to the building -- you have to consider the worse-case scenario -- is there enough value in the property and location such that it could potentially be feasible to scrape the existing building (after salvaging any worthwhile materials) and starting over with new construction to your own specification, purpose-designed to meet the needs of the business(es) you envision? If yes, then negotiate your best deal and buy the property.
If no, then you really need to look very seriously at whether rehabilitation of the existing building is feasible. First, does the existing structure have any historical or sentimental values that might make the effort worthwhile? Another consideration might be, how much of this kind of work can you do yourself, vs. how much would you have to hire out to contractors? Do you even have the time to be pursuing such a project? Keep in mind not only the work that needs to be done to make the structure safe and sound, but also the renovations you need to accomplish to meet the needs of the business(es) you envision. At this point, you might think again about scraping it and starting over... but only if there is significant value in the land itself..

The place is unbelievably perfect. Zoned commercial, 15+ beautiful acres, good price, near major tourist attractions, nice home if corrected, drivable to work, and many buttons pushed.
There is actually little on the market that satisfies what we trying to do
.

I got a little bump on the skin when I saw the "drive to work" value. You obviously have a lot more drive to work than we do and we are pretty hard workers now and then.

.

I get a decent salary and benefits - job is OK but not enthralling. Positive thing is we don't have to worry about living expenses. She is the very social one. I will help evenings and weekends. We plan to hire cleaning or other assistance once we have enough guests to make it worthwhile. (no point hiring someone to clean one room!)
Both very looking much forward to this.
We looked at another place last night. 3300SF, commercial, 10 years old, former modular model home/used autos, 1.5 acres, country-ish. Currently under $200K. Family living in nice 3br/2ba above. The downstairs was office area, but has some potential that may be useful for a few of the things we want to do (God willing and the creek don't rise
.

Mostly it was because we are full time innkeepers and I often wonder how others can find the time to grow a successful business while half their focus is elsewhere. Mind you, I am NOT a multi-tasker, so my wonderment may simply be that I don't have that skill.
.

I suppose it depends partly on their business processes. Some seem to answer every phone call, not feeling they have to get to 100% online booking. I plan to let all calls go to voicemail, to eliminate robo or sales calls, tell the caller that booking on the website represents a discount, and screen any messages in case I don't want to respond (late night, PITA types, tour seekers, etc.)
It also depends on number of rooms, other service (concierge? wedding?), price points (budget vs. "full service"), building maintenance, etc.
It is my intent to focus on the more personable and interesting stuff and hire out things like mowing, cleaning, and other stuff. Dealing with an 80 year old building is a totally different situation than a 10 year old building.
But until one goes from aspiring to actual innkeeper, it remains somewhat theory.
As an owner of about 10 apt units, I have a part time property manager, specialists for repairs, use lawyer for evictions, but I like to handle the new tenant screening myself.
.

I suppose it depends partly on their business processes. Some seem to answer every phone call, not feeling they have to get to 100% online booking. I plan to let all calls go to voicemail, to eliminate robo or sales calls, tell the caller that booking on the website represents a discount, and screen any messages in case I don't want to respond (late night, PITA types, tour seekers, etc.)

AGREE 100%. Yes, 100%.
I have been running around like crazy today. I had two last minute cancellations for college grad weekend. One is a grandparent of a student who we have come to know over the last 4 years and she is ill, very ill, or would be here. Their only grandchild. and so I am not charging them the cancellation fee. and now I have lost business and so I am taking calls to rebook those rooms and every call has been a waste of my time, ALL DAY. Not one, every last one of them. Sponsor the home tour at the lake? What? That makes no sense whatsover, why would I sponsor a home tour at a lake, that I am not involved in? or in?
and on and on...
I have the message on - book it online, save $10 right now. So they will have to do it, I can't spend every minute of the day today I still have milk in my car to bring in...yes I was here answering the phone and two more messages are blinking.
.

"not charging them the cancellation fee"
I used to be more like this, but I always wind up eating it everytime I don't get a security deposit. It is not my fault your car/back/wife/job/whatever problem caused you to change your plan. That is what a deposit is for. I had other good prospects that would have taken it.

 

[undersea]

As they say in real estate, "Location, location, location!"
Set aside all the issues with the building for the moment.
Is the property itself worth pursuing? Does it have a great view? Any features on the property that would attract guests? Is it located in proximity to other things in the area that would attract guests? Is it appropriately zoned for whatever business you might want to develop? What are the neighboring properties like? Is there already significant competition for the businesses that you envision?
Only if the property meets whatever criteria you choose for the "location" aspect would it be worth going any further (and even then, maybe not...)
Now to the building -- you have to consider the worse-case scenario -- is there enough value in the property and location such that it could potentially be feasible to scrape the existing building (after salvaging any worthwhile materials) and starting over with new construction to your own specification, purpose-designed to meet the needs of the business(es) you envision? If yes, then negotiate your best deal and buy the property.
If no, then you really need to look very seriously at whether rehabilitation of the existing building is feasible. First, does the existing structure have any historical or sentimental values that might make the effort worthwhile? Another consideration might be, how much of this kind of work can you do yourself, vs. how much would you have to hire out to contractors? Do you even have the time to be pursuing such a project? Keep in mind not only the work that needs to be done to make the structure safe and sound, but also the renovations you need to accomplish to meet the needs of the business(es) you envision. At this point, you might think again about scraping it and starting over... but only if there is significant value in the land itself..

The place is unbelievably perfect. Zoned commercial, 15+ beautiful acres, good price, near major tourist attractions, nice home if corrected, drivable to work, and many buttons pushed.
There is actually little on the market that satisfies what we trying to do
.

I got a little bump on the skin when I saw the "drive to work" value. You obviously have a lot more drive to work than we do and we are pretty hard workers now and then.

.

I get a decent salary and benefits - job is OK but not enthralling. Positive thing is we don't have to worry about living expenses. She is the very social one. I will help evenings and weekends. We plan to hire cleaning or other assistance once we have enough guests to make it worthwhile. (no point hiring someone to clean one room!)
Both very looking much forward to this.
We looked at another place last night. 3300SF, commercial, 10 years old, former modular model home/used autos, 1.5 acres, country-ish. Currently under $200K. Family living in nice 3br/2ba above. The downstairs was office area, but has some potential that may be useful for a few of the things we want to do (God willing and the creek don't rise
.

Mostly it was because we are full time innkeepers and I often wonder how others can find the time to grow a successful business while half their focus is elsewhere. Mind you, I am NOT a multi-tasker, so my wonderment may simply be that I don't have that skill.
.

I suppose it depends partly on their business processes. Some seem to answer every phone call, not feeling they have to get to 100% online booking. I plan to let all calls go to voicemail, to eliminate robo or sales calls, tell the caller that booking on the website represents a discount, and screen any messages in case I don't want to respond (late night, PITA types, tour seekers, etc.)
It also depends on number of rooms, other service (concierge? wedding?), price points (budget vs. "full service"), building maintenance, etc.
It is my intent to focus on the more personable and interesting stuff and hire out things like mowing, cleaning, and other stuff. Dealing with an 80 year old building is a totally different situation than a 10 year old building.
But until one goes from aspiring to actual innkeeper, it remains somewhat theory.
As an owner of about 10 apt units, I have a part time property manager, specialists for repairs, use lawyer for evictions, but I like to handle the new tenant screening myself.
.

I suppose it depends partly on their business processes. Some seem to answer every phone call, not feeling they have to get to 100% online booking. I plan to let all calls go to voicemail, to eliminate robo or sales calls, tell the caller that booking on the website represents a discount, and screen any messages in case I don't want to respond (late night, PITA types, tour seekers, etc.)

AGREE 100%. Yes, 100%.
I have been running around like crazy today. I had two last minute cancellations for college grad weekend. One is a grandparent of a student who we have come to know over the last 4 years and she is ill, very ill, or would be here. Their only grandchild. and so I am not charging them the cancellation fee. and now I have lost business and so I am taking calls to rebook those rooms and every call has been a waste of my time, ALL DAY. Not one, every last one of them. Sponsor the home tour at the lake? What? That makes no sense whatsover, why would I sponsor a home tour at a lake, that I am not involved in? or in?
and on and on...
I have the message on - book it online, save $10 right now. So they will have to do it, I can't spend every minute of the day today I still have milk in my car to bring in...yes I was here answering the phone and two more messages are blinking.
Update: listened- community day for all the county this one and that one businesses...who the heck is this?
In other news in my hunger I opened a can of Hormel chili and my dog suddenly appeared and my cat. I was hungry, and they backed me into a corner and I began to wonder "Is this what dog food tastes like?"

.

As a landlord (for people who stay a year, not a day), some tenant prospects will keep me on the phone for a half hour, sometimes I think they are lonely. And of course, you get 30 calls.
Where is it? Is that near XYZ? No? Oh, you are too far a drive for me. Do you accept Section 8? HUD? No, I don't have dogs (until they move in of course).
Funny, I used to live in that town. Is that the same mayor as in 1976?
Can I just sign a contract now?
You want a deposit? What for? I am dependable.
I need to move in today (never never never rent to someone in a hurry. You might not like the reason, or the tenant).
Can I just rent the apartment for 2 weeks? (somehow, they do just as much damage as a longterm tenant. Or they only have enough money for shortterm, and then I have to evict).
Do I have a job? Well, I have been working at McDonalds for 2 weeks now...
Can you work with me on the security? (these people wind up wanting to work with me on the rent later...)
Can you hold the room for a week? Here is a $20. I will definitely take it! (these people seem to call later and found something else).
I make $600 a month on disability. Is that enough for a $450 monthly rent? (do these people eat or have any other expenses?)
About your room for rent. Can my family of 5 move in?
I am moving out because I sued my last landlord... (like, I want you here???)
I am willing to lose some business, because our time and peace of mind has value. It is not like a lost booking was free!

 

[user 26]

As they say in real estate, "Location, location, location!"
Set aside all the issues with the building for the moment.
Is the property itself worth pursuing? Does it have a great view? Any features on the property that would attract guests? Is it located in proximity to other things in the area that would attract guests? Is it appropriately zoned for whatever business you might want to develop? What are the neighboring properties like? Is there already significant competition for the businesses that you envision?
Only if the property meets whatever criteria you choose for the "location" aspect would it be worth going any further (and even then, maybe not...)
Now to the building -- you have to consider the worse-case scenario -- is there enough value in the property and location such that it could potentially be feasible to scrape the existing building (after salvaging any worthwhile materials) and starting over with new construction to your own specification, purpose-designed to meet the needs of the business(es) you envision? If yes, then negotiate your best deal and buy the property.
If no, then you really need to look very seriously at whether rehabilitation of the existing building is feasible. First, does the existing structure have any historical or sentimental values that might make the effort worthwhile? Another consideration might be, how much of this kind of work can you do yourself, vs. how much would you have to hire out to contractors? Do you even have the time to be pursuing such a project? Keep in mind not only the work that needs to be done to make the structure safe and sound, but also the renovations you need to accomplish to meet the needs of the business(es) you envision. At this point, you might think again about scraping it and starting over... but only if there is significant value in the land itself..

The place is unbelievably perfect. Zoned commercial, 15+ beautiful acres, good price, near major tourist attractions, nice home if corrected, drivable to work, and many buttons pushed.
There is actually little on the market that satisfies what we trying to do
.

I got a little bump on the skin when I saw the "drive to work" value. You obviously have a lot more drive to work than we do and we are pretty hard workers now and then.

.

I get a decent salary and benefits - job is OK but not enthralling. Positive thing is we don't have to worry about living expenses. She is the very social one. I will help evenings and weekends. We plan to hire cleaning or other assistance once we have enough guests to make it worthwhile. (no point hiring someone to clean one room!)
Both very looking much forward to this.
We looked at another place last night. 3300SF, commercial, 10 years old, former modular model home/used autos, 1.5 acres, country-ish. Currently under $200K. Family living in nice 3br/2ba above. The downstairs was office area, but has some potential that may be useful for a few of the things we want to do (God willing and the creek don't rise
.

Mostly it was because we are full time innkeepers and I often wonder how others can find the time to grow a successful business while half their focus is elsewhere. Mind you, I am NOT a multi-tasker, so my wonderment may simply be that I don't have that skill.
.

I suppose it depends partly on their business processes. Some seem to answer every phone call, not feeling they have to get to 100% online booking. I plan to let all calls go to voicemail, to eliminate robo or sales calls, tell the caller that booking on the website represents a discount, and screen any messages in case I don't want to respond (late night, PITA types, tour seekers, etc.)
It also depends on number of rooms, other service (concierge? wedding?), price points (budget vs. "full service"), building maintenance, etc.
It is my intent to focus on the more personable and interesting stuff and hire out things like mowing, cleaning, and other stuff. Dealing with an 80 year old building is a totally different situation than a 10 year old building.
But until one goes from aspiring to actual innkeeper, it remains somewhat theory.
As an owner of about 10 apt units, I have a part time property manager, specialists for repairs, use lawyer for evictions, but I like to handle the new tenant screening myself.
.

I suppose it depends partly on their business processes. Some seem to answer every phone call, not feeling they have to get to 100% online booking. I plan to let all calls go to voicemail, to eliminate robo or sales calls, tell the caller that booking on the website represents a discount, and screen any messages in case I don't want to respond (late night, PITA types, tour seekers, etc.)

AGREE 100%. Yes, 100%.
I have been running around like crazy today. I had two last minute cancellations for college grad weekend. One is a grandparent of a student who we have come to know over the last 4 years and she is ill, very ill, or would be here. Their only grandchild. and so I am not charging them the cancellation fee. and now I have lost business and so I am taking calls to rebook those rooms and every call has been a waste of my time, ALL DAY. Not one, every last one of them. Sponsor the home tour at the lake? What? That makes no sense whatsover, why would I sponsor a home tour at a lake, that I am not involved in? or in?
and on and on...
I have the message on - book it online, save $10 right now. So they will have to do it, I can't spend every minute of the day today I still have milk in my car to bring in...yes I was here answering the phone and two more messages are blinking.
.

"not charging them the cancellation fee"
I used to be more like this, but I always wind up eating it everytime I don't get a security deposit. It is not my fault your car/back/wife/job/whatever problem caused you to change your plan. That is what a deposit is for. I had other good prospects that would have taken it.
.

Really, undersea?
A guest you have come to know over years of staying with you is a booster - often sending other guests your way. They are already sold on your business. When a repeat guest tells you someone is very ill and they have to cancel, it seems heartless to charge a cancellation fee. Owners make exceptions. If she can't fill that spot, yes she will lose income. But those guests may come another time. I've never heard of a bad tenant asking to come back again ... and I do have friends and family that own and rent out condos, vacation homes and multi-family houses. And my uncle owns a trailer park on a lake in New Hampshire. Some folks even leave their trailers behind ... go figure. All different situations.
I believe kindness creates good karma.

"not charging them the cancellation fee"
I used to be more like this, but I always wind up eating it everytime I don't get a security deposit. It is not my fault your car/back/wife/job/whatever problem caused you to change your plan. That is what a deposit is for. I had other good prospects that would have taken it.

 

[Morticia]

As they say in real estate, "Location, location, location!"
Set aside all the issues with the building for the moment.
Is the property itself worth pursuing? Does it have a great view? Any features on the property that would attract guests? Is it located in proximity to other things in the area that would attract guests? Is it appropriately zoned for whatever business you might want to develop? What are the neighboring properties like? Is there already significant competition for the businesses that you envision?
Only if the property meets whatever criteria you choose for the "location" aspect would it be worth going any further (and even then, maybe not...)
Now to the building -- you have to consider the worse-case scenario -- is there enough value in the property and location such that it could potentially be feasible to scrape the existing building (after salvaging any worthwhile materials) and starting over with new construction to your own specification, purpose-designed to meet the needs of the business(es) you envision? If yes, then negotiate your best deal and buy the property.
If no, then you really need to look very seriously at whether rehabilitation of the existing building is feasible. First, does the existing structure have any historical or sentimental values that might make the effort worthwhile? Another consideration might be, how much of this kind of work can you do yourself, vs. how much would you have to hire out to contractors? Do you even have the time to be pursuing such a project? Keep in mind not only the work that needs to be done to make the structure safe and sound, but also the renovations you need to accomplish to meet the needs of the business(es) you envision. At this point, you might think again about scraping it and starting over... but only if there is significant value in the land itself..

The place is unbelievably perfect. Zoned commercial, 15+ beautiful acres, good price, near major tourist attractions, nice home if corrected, drivable to work, and many buttons pushed.
There is actually little on the market that satisfies what we trying to do
.

I got a little bump on the skin when I saw the "drive to work" value. You obviously have a lot more drive to work than we do and we are pretty hard workers now and then.

.

I get a decent salary and benefits - job is OK but not enthralling. Positive thing is we don't have to worry about living expenses. She is the very social one. I will help evenings and weekends. We plan to hire cleaning or other assistance once we have enough guests to make it worthwhile. (no point hiring someone to clean one room!)
Both very looking much forward to this.
We looked at another place last night. 3300SF, commercial, 10 years old, former modular model home/used autos, 1.5 acres, country-ish. Currently under $200K. Family living in nice 3br/2ba above. The downstairs was office area, but has some potential that may be useful for a few of the things we want to do (God willing and the creek don't rise
.

Mostly it was because we are full time innkeepers and I often wonder how others can find the time to grow a successful business while half their focus is elsewhere. Mind you, I am NOT a multi-tasker, so my wonderment may simply be that I don't have that skill.
.

I suppose it depends partly on their business processes. Some seem to answer every phone call, not feeling they have to get to 100% online booking. I plan to let all calls go to voicemail, to eliminate robo or sales calls, tell the caller that booking on the website represents a discount, and screen any messages in case I don't want to respond (late night, PITA types, tour seekers, etc.)
It also depends on number of rooms, other service (concierge? wedding?), price points (budget vs. "full service"), building maintenance, etc.
It is my intent to focus on the more personable and interesting stuff and hire out things like mowing, cleaning, and other stuff. Dealing with an 80 year old building is a totally different situation than a 10 year old building.
But until one goes from aspiring to actual innkeeper, it remains somewhat theory.
As an owner of about 10 apt units, I have a part time property manager, specialists for repairs, use lawyer for evictions, but I like to handle the new tenant screening myself.
.

We've got 7 rooms and about 50% online bookings. So, yes, I spend a lot of time on the phone offering the first insight into the guest's stay.
A warm greeting, some help selecting a room etc.
Absolutely hire out the crap jobs but don't hire out the people parts of the business.
Does everyone who speaks with me make a rez? No. I've got about a 50% conversion rate but only if they already planned to book here and just didn't want to do the work themselves. (Essentially I couldn't sell ice cubes in the Sahara.) But I'm the voice of the business. Guest say, "I spoke to you!" It makes it seem more personable.
I'm a rabid user of caller id. If it's a city state combo it goes to voice mail. Real name? I answer it.

 

[TheBeachHouse]

We do the two jobs thing. It can work. He runs the inn and I work in an office in the city. I love my weekends and he does appreciate when I'm there to help with breakfast. But he runs the books and reservations and hires cleaning help.
I have another job.