Deleted
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Post by Deleted on Dec 10, 2017 12:55:10 GMT 7
Just got a message about a bar in Jomtien for sale. It's down on soi welcome called the Lucky Inn.
Neat little bar , guesthouse above , the current owners have parted ways , farang and a Thai. Their business was doing well.
500k , walk in walk out.
Would be a good little place but not for me and the kids.
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Post by Deleted on Dec 10, 2017 12:56:49 GMT 7
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smokie36
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Post by smokie36 on Dec 10, 2017 13:01:40 GMT 7
Yes so what do you get for 500k Baht?
Lease length and monthly rent?
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Post by Deleted on Dec 10, 2017 13:08:12 GMT 7
Yes so what do you get for 500k Baht? Lease length and monthly rent? Tbh I'd offer half , 250k. I think he'd take it. Monthly rent is 24k baht which isn't bad I suppose considering there's also at least 6 rooms above to rent out. |
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smokie36
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Post by smokie36 on Dec 10, 2017 13:11:59 GMT 7
Yes so what do you get for 500k Baht? Lease length and monthly rent? Tbh I'd offer half , 250k. I think he'd take it. Monthly rent is 24k baht which isn't bad I suppose considering there's also at least 6 rooms above to rent out. Running a bar and becoming a full time alkie is not for me. I'll pass thanks. |
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Post by Deleted on Dec 10, 2017 13:12:13 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
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oldie
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Post by oldie on Dec 10, 2017 16:15:03 GMT 7
They do pop up occasionally and look great until you read the fine print.
Saw one in Udon for b300000 WIWO
Only $10k for a furnished bar, what could possibly go wrong?
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Post by Deleted on Dec 11, 2017 5:25:15 GMT 7
Pass - you'd make more money working two months of the year in Oz at your job, Hippity, and take 10 months off.
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Post by Deleted on Dec 11, 2017 5:46:58 GMT 7
No way I'd buy it. Its down to 300k this morning  . Money lenders want their cash! |
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Post by rgs2001uk on Dec 11, 2017 20:57:09 GMT 7
No way I'd buy it. Its down to 300k this morning . Money lenders want their cash!If it was doing so well, why would the money lenders be wanting cash, let me guess, gambling debts? Was the guy actually running a business or a generous welfare scheme? |
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Post by rgs2001uk on Dec 11, 2017 21:00:41 GMT 7
Pass - you'd make more money working two months of the year in Oz at your job, Hippity, and take 10 months off. You are actually not so far from the truth. Guy I know does, 1 month on, 5 months off, paid 1.000 quid per day to watch concrete being poured. My nephew is paid A$ 4,000 per week (yes the taxman rapes him), working in some mine in the ass end of nowhere about 7 hours out of Adelaide. |
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Post by Deleted on Dec 12, 2017 13:19:16 GMT 7
No way I'd buy it. Its down to 300k this morning . Money lenders want their cash!If it was doing so well, why would the money lenders be wanting cash, let me guess, gambling debts? Was the guy actually running a business or a generous welfare scheme? The bar actually did quite well while her English husband was running it. It's only a small bar but stayed open till the early hours. It was just something for the husband to do in retirement, until he split from his wife. She turned it to shit and he wasn't bailing her out anymore. Good. Let her sink. Including the rooms above for rent at 500b a night its a low season of 60k a week high season double that. Great little soi , alot of tourists funnel down the soi from the huge hotel at the top. Still it's a devils lifestyle. Side note....my wife and I sat in the restaurant across from that bar. Next door is a place that sells seafood fresh off the boats that dock in Na Jomtien. My wife overheard the boss on her phone say the place is turning over 30k a night. Just food and drinks. I'd believe that cause it was packed for 5pm until about 1am. Every night. Their clientele was Russian tourists. Continuous flow of tourists and every table was full. Fresh seafood restaurants beat any bar hands down and theres no politics involved. |
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Post by rgs2001uk on Dec 12, 2017 20:35:43 GMT 7
^^^^ a lot of truth in what you say.
Something to do in retirement, take up fishing or golf.
I know two guys who own guesthouses, both are about 70, both are working about 10 hours per day, one is lucky if he gets one morning off a fortnight to play golf.
The other funnily enough is in Jomtien, he spends most of his days upstairs living in fear of the knock at the door for working illegally, no work permit.
Correct about those seafood places.
You are correct about them running it into the ground, one place I used to frequent drove the customers away, they hired an ex mia farang ex bargirl, she abused the customers and called them cheap charlies coz they wouldnt ring the bell and buy overpriced drinks.
The farang owner was well p**sed off but could do nothing, it was his wifes sister causing the problems, some of the faceache comments were unbelievable.
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Post by rgs2001uk on Dec 13, 2017 20:41:35 GMT 7
Not mentioned, another headache for you business owners, staff retention.
Its a bit hard to hold onto staff, when you are paying them 12k baht per month, and some farang comes along and offers them 25-30k baht per month.
Tip, as told to me by another business owner, hire the fat, old and ugly, no one will whisk them away.
Bar I use in Pattaya is packed out every day, doubt if there is a girl under the age of 40, they offer hassle free service, aint pestering customers for lady drinks or bar fines, they are well tipped by the appreciative customers.
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rott
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Post by rott on Dec 19, 2017 13:28:08 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. |
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