Okay, let's go to school!
If the place is for sale for 1.5 mil....that equates to about $8800 per month payment (assuming you can finance that much...hey with the government small [??] loan program up and coming, maybe Mrs Jack has a shot at it??)
Now that means that all 16 rooms must make $550 per month clear of other expenses, such as wages, taxes, utilities, repairs, cleaning supplies, linen services, etc.
Not sure what the nightly rate is but let's assume that it is $75 low season and $90 high season...(those dummies from Illinoisy think that rate is cheap....don't yah know...and if there is such a thing as high season anyway...) so for the sake of pipe dreaming let's take an average of $82.50 per nite.
Now if you have occupancy of 75% average per year (hang with me here...) then the income would come out to about $1,850 per room per year.
Now let's further assume that associated costs of running the place not counting...adminstrative costs (hey, you bought this and thought you would pay yourself a wage...hah!) is about the same as the principle and interest of $550.
That would mean you need about $1100 per month per room per year to cover the nut.
Therefore you should clear about $750 per month income for you and the guy who now must plow snow for a REAL living, cut wood, string electrical wires, install satellite dishes, and digs and installs an occasional septic field and who will make the rest of the money you will need to live on.
Note I did NOT count income from the restraunt, since as you all know, you will be drinking the profits from that establishment as you cry in your vodka....
Now that we have cleared that issue up, remember that the whole point of going up there is to breath the fresh air and to get closer to that snowmobile trail...so.....drum roll please....someone actually needs to get ON that snowmobile trail once or twice a year.
So logically just tell your husband that your family really only need one snowmobile because he won't have time or energy to ride himself so's you might as well save one years wages from the sleep-easy, and only buy ONE snowmobile so YOU can ride while he is tending to work.
Okay...there will be a short break before we go to quiz...any questions....put em in the suggestion box and we will review them in a few....YEARS~ aka, stuff em...we really don't care about your suggestions but don't want to make is SOUND like we don't care about them so write them down and put them in the box.
