Jon, you could always make it a condo complex ;-)
Ed
-----Original Message-----
From: Jon Wennerberg [mailto:jonwennerberg@nancyandjon.org]
Sent: Tuesday, February 9, 2010 06:41 AM
To: 'Tom Shannon'
Cc: land-speed@autox.team.net
Subject: Re: [Land-speed] Bonneville Inn For Sale in Wendover
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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