Deleted
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Post by Deleted on Dec 19, 2017 14:14:18 GMT 7
The key money is all stock , furniture , pool table etc etc. Key money is usually priced too high but I'm sure these things are negotiable 24k rent plus key money? Is this a one-off payment, or annual or what? And how much is it. What is the occupancy rate for the rooms? Do they offer a discounted mothly rent? Nothing is ever simple is it. 24k plus monthly rent plus 300k key money. The rooms I've never seen but its something like 4 rooms per floor plus the top floor is living quarters for staff etc. No idea of the condition of those. I'm guessing 500b a night room prices. Typical of those jomtien guesthouses. It's a good little bar. |
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Post by rgs2001uk on Dec 19, 2017 22:05:53 GMT 7
Dont doubt its a good little bar, however the numbers dont add up.
Lets assume he has 10 rooms upstairs.
10x365x500 = 1,825,000 = 150,000 baht per month.
Knock off the 25,000 baht per month rent, knock off, lets say 10 staff at 10,000 baht per month, that alone = 125,0000 per month.
Thats assuming his rooms are rented out every night every day of the year, which I doubt.
Sorry not for me, dare say some farang mug will be along shortly to buy into the dream, personally I can get a better return in REITs.
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Post by Deleted on Dec 20, 2017 12:09:38 GMT 7
Dont doubt its a good little bar, however the numbers dont add up. Lets assume he has 10 rooms upstairs. 10x365x500 = 1,825,000 = 150,000 baht per month. Knock off the 25,000 baht per month rent, knock off, lets say 10 staff at 10,000 baht per month, that alone = 125,0000 per month. Thats assuming his rooms are rented out every night every day of the year, which I doubt. Sorry not for me, dare say some farang mug will be along shortly to buy into the dream, personally I can get a better return in REITs. The booze part alone is 60k a week profit high season. The staff is his wife who cleans the rooms , the bargirls only get staff drinks etc. The rooms apparently in high season are full. Looked empty when I was there. It makes a wage but it's nothing special. Best part of the place is the location. Nicest soi I've ever seen in that part of town. |
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oldie
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Post by oldie on Dec 20, 2017 14:15:38 GMT 7
Go you halves Hip.
Not as a money spinner but something to do.
We can drink Kilkenny from the tap, play pool and cook you famous roast pork in air-con comfort with the blinds open and the pikeys can stand outside staring in with their tongues hanging out.
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Post by Deleted on Dec 20, 2017 15:13:08 GMT 7
Go you halves Hip. Not as a money spinner but something to do. We can drink Kilkenny from the tap, play pool and cook you famous roast pork in air-con comfort with the blinds open and the pikeys can stand outside staring in with their tongues hanging out. Mate I'd possibly say yes if I wasn't married with 2 kids and mortgages. There's a better deal next door to that place. 13 million baht , huge restaurant downstairs, 12 condos above. 50 metres from the beach. But for that price you own the building. (Or the wife does at least) |
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Post by Deleted on Dec 20, 2017 15:15:39 GMT 7
Its this place here but the pic doesn't get the whole building. 12 rooms plus the top floor with ocean views is the owners place.  |
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Post by Deleted on Dec 20, 2017 15:17:31 GMT 7
Some rich kid bought the place and renovated it with the intent to open a seafood place.
After all renovations he decided it wasn't for him.
He's still rich I'd assume!
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Post by Deleted on Dec 20, 2017 15:20:24 GMT 7
And next door is the Lucky Inn bar for sale.
If I win lotto , you all get free holidays on me.
(Beer included)
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Post by rgs2001uk on Dec 20, 2017 21:17:49 GMT 7
Go you halves Hip. Not as a money spinner but something to do. We can drink Kilkenny from the tap, play pool and cook you famous roast pork in air-con comfort with the blinds open and the pikeys can stand outside staring in with their tongues hanging out. Mate I'd possibly say yes if I wasn't married with 2 kids and mortgages. There's a better deal next door to that place. 13 million baht , huge restaurant downstairs, 12 condos above. 50 metres from the beach. But for that price you own the building. (Or the wife does at least) Years ago I used to use the place on Walking Street, Roo bar, or Jane bar, cant remember the name, great place and good bunch of owners, they told me they basically made no money, but drank and ate for free. Same same, one of my favourite places, the ANZAC on PattayaLand, again great bunch of owners and a great laugh, Sadly closed in 1999, they were presented with two options, a massive rent increase or buy the place. They did the numbers and said they didnt add up. From what I remember for a doublewide 5 storey shophouse they were quoted 23 million baht to buy it, this was almost 20 years ago. The owners told me they could get a better return on their money by buying rental properties in Australia, which I can well believe. |
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Post by Deleted on Dec 21, 2017 10:35:14 GMT 7
Mate I'd possibly say yes if I wasn't married with 2 kids and mortgages. There's a better deal next door to that place. 13 million baht , huge restaurant downstairs, 12 condos above. 50 metres from the beach. But for that price you own the building. (Or the wife does at least) Years ago I used to use the place on Walking Street, Roo bar, or Jane bar, cant remember the name, great place and good bunch of owners, they told me they basically made no money, but drank and ate for free. Same same, one of my favourite places, the ANZAC on PattayaLand, again great bunch of owners and a great laugh, Sadly closed in 1999, they were presented with two options, a massive rent increase or buy the place. They did the numbers and said they didnt add up. From what I remember for a doublewide 5 storey shophouse they were quoted 23 million baht to buy it, this was almost 20 years ago. The owners told me they could get a better return on their money by buying rental properties in Australia, which I can well believe. Not to forget what the bib expect on the side. |
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