What am I missing here @Collin Hays?
There valuing it at a 13 P/E..... That's crazy.
Like.... Not expensive, just crazy.
I can buy a recently renovate 20room motel around the area at a 4 P/E @50% occupancy.
To put this in terms I can buy McDonalds, 0 tenants 0 toilets, at a ~26 P/E today. And I think we'd all agree McDonalds is about 100X "safer" on the certainty of forward revenues and what not than any leased properties. I mean, McDonalds is as close to a "sure thing" in business sense that anything comes, right.
In my head, PREMIUM for the most premo property, location etc etc is about a 7 P/E.
Because you got a lot of inputs, capex to consider, risk factors galore.
By my math that would be $404,852
So who's the nutty one, me or them??????
And this is grabbing a falling knife, as revenues clearly show, so I'd have to get over that hurdle to figure out where bottom is, why it's falling, what if anything I can do to stop that, where, at what expense......
Just seems bonkers to me.
