All Forum Posts by: Emma T.

If Emma is real, all of the capital will be lost within a year. No business experience, opening one of the most risky businesses possible. The money should be placed in a secure, non-risky mutual fund until Emma has some education and two solid years of working for the type of business she thinks she wants to enter. Chen needs to get laid. *sigh. No offense. LoL...TGIF.

Emma T., glad to see you are real :-)

I inherited about that same amount of money at about the same age you are, and not a single thing I did with it was smart. Every single decision I made was a bad one, with the exception of buying a condo to live in (wish I still had it). Since it was immediately outside of Washington DC, I unknowingly had chosen a winner. But that was just luck.

My point is, I blew almost all the money, and managed to hang onto about 40,000, which eventually starting me in real estate investing many years later when I smartened up. (I even bought race horses, can you imagine? talk about stupid!)

Paying all cash for a pub (bed and breakfast) that you
1. Don't know how to run
2. Don't know how to renovate
3. Don't have the funds to do more repairs if it needs it
4. Don't have the capital to stick it out while it's slow sometimes
5. and possibly don't know what it's really worth

is a disaster waiting to happen. At the very least, take Joel Owens' advice and offer half price. Who knows? then, if you ignore everyone and buy it anyway, at least you'll have some money to tide you over while you fix it up, figure out how to run it, etc.

It's burning a hole in your pocket and you're at a whole new chapter in your life. I get it. Just take it slow, and educate yourself some more on what you are doing, if you can force yourself.

Good luck!

Then I like Joel's suggestion to go in at half asking and find out how motivated they really are.

Have you looked into getting financing rather than paying all cash? Share some risk with a bank?

Welcome back Emma! So happy to hear you respond.

Don't worry about the renovations too much - you are too young to be stressing about small stuff like this, especially at this age, and they are always easy to do. You have plenty of time to think about the renovations AFTER you purchase the property.

Just be sure to hire someone who looks tall and strong. Having a burly chest with rippling sinews is a huge plus and increases the likelihood that he will get the job done, and done right. When you interview the people you're going to hire to renovate, pay attention to his body language, and see if any gleaming rivulets of sweat begin to drizzle down the bountiful cheeks on his face. If the there is no gleaming in the rivulets, then proceed to interview the next man.

I'm glad to hear that you have a very strong emotional attachment to this property. It's actually a huge advantage because it will allow you to make important financial decisions such as this more comfortably and in a more timely manner. Emotions = profit!

Don't let anything get in the way of how you love this property or the sentimental value that you have placed upon it. Any time your broker starts to show you silly numbers, or worse yet, paperwork with crazy jargon written on it, just shuffle it underneath their briefcase, look at them in the eyes, and say "Am I hiring you to give me homework, or am I hiring you to help me land this great bargain?".

Hope this helps.

How come no one is giving her credit for coming up with such a clever advertising ploy? People come on here shilling their crap, and it always gets immediately taken down because the moderators are awesome. Yet, she managed to evade moderator detection and perhaps even stirred up some interest in this pub. Kudos, Emma T.

Okay, have to say it.

Does anyone else think this looks like scam?:

Brand new to BP poster, foreign, 'cute girl' avatar and draws attention to herself in the title post as being a 'girl that needs your help'?

Call me cynical. But really? A 28 year old woman inherits a 200k pounds and her first instinct is to seek out a foreign real estate investing board for advice and tell everyone she has 200k pounds?

My suspicion could be over heightened because I just watched that Samuel J. Jackson movie "The Samaritan" and some dude from Nigeria wants to connect with me through Bigger Pockets.

I agree with Joel...there are so many horror stories out there about people who inherit some money and pursue a dream, only to lose the money shortly after because they were not well equipped to manage what they got into. For anyone to give you any kind of solid advice we would need much more information about the venture, the makret, etc.

Another thing that worries me is you say you would like to spend "all" the money to buy and renovate the property...do you have any expirence in renovating properties? How do you know how much the renovation will cost? Do you have connections to contractors and people who can actually complete the renovations?

What you are talking about doing is a type of project that takes a lot of expertise, and you stand to lose a lot of money if you make a mistake. I am not saying this is not a good deal, but you should be very careful before you get in over your head.