Hey Guys,

 

Guesthouse for sale, located on Soi Yamato about 30 meters from Second Road and next to Wonderful Bar (I think that is the name of the place.)

 

The ground floor is split with one side being used as a bar and the other being used as massage shop.

 

14 Rooms - some with a/c and some with just a fan. I am not sure of the exact mix.

 

Price Baht 700,000 (o.n.o)

Standard 3+3 year lease.

Key money is 100,000 baht per 3 year lease.

Refundable Deposit = 210,000 baht

Monthly Rent = 70,000/month

Contact person: Miss Gai 0854349749

If you have more questions or wish to see the place, please contact Miss Gai at the number given.

 

FatherMojo

 

Here are a few pictures.

 

 

 

 

 

 

 

 

 

 

Fathermojo

 

Add it to the classifieds section - link at the top of the forum in the toolbar

just a quick calculation with a 50% occupacy, the rooms would need to be 322 baht to break even on the rent.

just a quick calculation with a 50% occupacy, the rooms would need to be 322 baht to break even on the rent.

 

 

You need to factor in the buying cost of 700k divided by 36 months thats another 19k a month so you rent is 90k a month !!!!

it means you are paying 6400 a month per room!!!!

 

Good luck to the landlord,,,,,,,,,,,,,,,, he wil do well the person who buys the lease will lose

You need to factor in the buying cost of 700k divided by 36 months thats another 19k a month so you rent is 90k a month !!!!

it means you are paying 6400 a month per room!!!!

 

Good luck to the landlord,,,,,,,,,,,,,,,, he wil do well the person who buys the lease will lose

 

 

Yeah, that is correct, but you would also have to throw in another 20k or so for staff, utilities and the one off charges for various licenses.

 

However, I will say that based on the list prices of other guest houses I have seen, this price is not too bad. If the ground floor were changed into a restaurant/bar/pub/cafe type place and the rooms were redone along with keeping the cost of the total refurbishment down... Maybe the place could be sold off to another.

 

FatherMojo

I often think about a business in Patts, but I think that might interefere with the true purpose of being there. Too many headaches I think in anyrthing that deals with people directly.

I guess something like this at the right price would be ok, fairly passive, but good people are hard to find.

JMHO

Liam

You would be looking at about 350,000Baht in renovations and upgrades right off the bat to modernize things there. New appliances all around, probably same with furniture and fixtures. New paint for sure as well. Merging the bottom unit into a single area for a bar persay, more of a beer bar then a hostess bar with some food, that would bring the total in renovations and the sort in the area of 700,000Baht. On top of the 700,000Baht, on top of the 100,000Baht per year. So grand total on the six years would be 2 million Baht roughly. That of course wouldn't include licenses or staff costs.

 

Similar types of units with the same setup and 6-9 rooms, but everything already up to date, and the rooms are much larger i'm sure then this place. Maybe update the furniture, and you've got a place closer to WS for about 2-2.5 million baht on a 6 year renewable lease good up to 15 years.

 

Long term rentals, ie weekly and monthly only would be the only way to go to really make money with the place is what I'm seeing. We all see the ups and downs with the bars, so your also talking about having another 1 million Baht in additional funds to weather the storms. It would either be hit or miss with this place. Wouldn't be worth fixing it up and turning the place into a moneymaker if you have no guarantee of some long term leasage past the 6 years. First year you would be lucky to make the payments without digging into your 1 million reserve.

The numbers dont stack up in my view , too small a margin to much aggro the landlord sits back and sips his coffee..

 

hhehhe same same me

refundable deposit dont make me laugh its early