On Feb 8, 2010, at 9:26 PM, Tom Shannon wrote:
Thanks guys! I knew someone would crunch the numbers! LOL I'm waitin' for Jon
W. to chime in. Like Chris' idea. Salt Talks by the pool!
Ed I'm sure you still got your canoe!! You know your signature roof top item.
Tom Shannon
Magna, Utah
Yeah, I've heard from a number of you "off-list". And I thought you had more
faith in my sense of common sense. I ran the numbers through my head a few
times and came up with this - n - that, but don't hold your breath for Nancy
and me to make the first move.
Things that'd be vital: First of all, keep the long-term renters. You'll
need revenue year-round. If you've got worries about them staying honest, up
to date, and clean rooms -- change the rules to "Rent is due weekly and will
be collected by our resident manager visiting your rental unit each Friday."
That way your person is in each unit weekly -- reduces the nmber of meth lans
that'll be run.
Second, have some maximum for the number of long-term rentals -- be available
for overnighters during the no-racing season. And write the long-term rental
contracts such that they'll have to move out by 1 August.
Third -- unh, before you use that $16k++/room number -- add in money for
maintenance, taxes, utilities, and so on. Then it's time to come up with your
monthly outgo -- what'll it take to make the monthly payments? That's the big
number you'll have to hit, the "nut you'll have to crack", every month. Is
the number such that in August and September you can put bucks into the bank
account - so you'll have enough to make the monthly payments in February?
Unh, no thanks, but it's sure fun to dream, isn't it?
Jon Wennerberg
Tall guy with moustache
and a pair of 2 Club hats
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