Updated about 10 years ago on .
Bed & Breakfast Investment
Hello BP Member, putting this out hoping to get some feed back. I have been in dealing with a property that is a B&B, 3 story house with a carriage house. the house is zoned in an area that it could be a 2 family. my thoughts were to rent out the 3rd floor, keep the 1st and 2nd as the B&B and rent the carriage house to contractors. the B&B hasn't operated in the past 2 years, so i would have to start from the ground up. I have my PM / Realtor on board to live there and run it. i would buy and own the house ( including putting down the down payment ), and WE would own the business to do all the renting.
My question is, are there any investors that have bought into a B&B ?
How do you run/ manage them ?
what have you found to be the typical expense per room/ night ?
do you pay the innkeepers salary plus a living space ?
any advice on how to split profits in this situation ?
what advice can you share with me on what to look for or how to promote it ? any advice or thoughts about it will be hopefull