Field of Dreams Inn - Business Opportunity.
Field of Dreams Inn - Puerto Plata Business Opportunity.
Alberto Noesi my friend and owner of the Field of Dreams Inn called me this morning to see if I was interested in taking the hotel over again. Since Randall who was managing the hotel for him has left for Jarabacoa and a more lucrative job he needs someone to take over. At 68 I’m too old because it is a 24/7 job.
His offer was to rent the hotel at $5,000.00us per month on a two year lease. Then the $120,000.00us could then be applied as 16% down payment towards the purchase price of $750,000,00us. Good mortgage terms on the balance. I estimate the hotel replacement cost of close to a million.
I know from when I ran the place (myself plus 7 employees) he’s way over what the hotel needs at 22 employees. I needed 4.5 rooms of the 12 (40% occupancy) a night to make all my expenses, mortgage, utilities and wages. My estimate is you’ll need 7 rooms of the 20 which includes the 6 suites (35% occupancy) to meet rent, utilities and wages. You have to be a hands on, live in manager.
Anyone interested just contact me at [drhotel@gmail.com]
William (DominicanBilly) Lane
Cell #1-829-432-4503
Re: Field of Dreams Inn - Business Opportunity.
Quote:
Originally Posted by
DominicanBilly
At 68 I’m too old because it is a 24/7 job.
Naw, you are not too old.
Re: Field of Dreams Inn - Business Opportunity.
Billy, you should do it!! It is YOUR baby after all!
:wink:
Re: Field of Dreams Inn - Business Opportunity.
Quote:
Originally Posted by
gdogg
Billy, you should do it!
Butt out! He is already occupied several hours a day as my personal chef (meat-free gourmet meals) and chauffeur. I don't want to lose him.
3 hours a day watching the Cooking Channel and searching the internet for meat-free meal gourmet meals he can make from ingredients he can buy locally. (I refuse to repeat the same recipe within three months).
1 hour a day cooking.
1 hour a day serving, entertaining me with stories of the old days while I am eating, then washing up.
Half-hour a day (on average) taking me shopping.
One hour a day (on average) driving me round clubs.
So that's 5 and a half hours a day serving my needs plus several more maintaining the condos (half of which spent fighting the Electricity Company).
Where can he fit in 24/7 running Field of Dreams? Don't be so selfish!
Re: Field of Dreams Inn - Business Opportunity.
I've had a couple worried clients of the Field of Dreams contact me as to "is my reservation still good"? Yes! Nothing really has changed, Randall left but he was only here for a short time and the new man in charge of reservations speaks English.
Rest assured it is business as usual in the hotel. The good will and clients I lost during the "Cristals" miss-management will not happen again. As any real estate agent will tell you, trying to sell a closed business is much tougher than one that is open and doing business.
Re: Field of Dreams Inn - Business Opportunity.
something along these lines have interest for me however my concerns are in the case of a lease purchase like you describe, how trustworthy are deals like this in the dr, to be able to exercise the purchase,,,
i have been told, once the lease is done the only thing you can count is to pay your rent...but all other agreements in writing or not are hard to exercise..
so if someone leases, spends time and money,,,,what stops all of a sudden the agreed terms on price at the start are not ignored, and you get the option to pay more for the time, effort and money you now have put into this business...
in the past, i have purchased outright at the start to at lease get what i agreed on.
Re: Field of Dreams Inn - Business Opportunity.
Quote:
Originally Posted by
donquixote
something along these lines have interest for me however my concerns are in the case of a lease purchase like you describe, how trustworthy are deals like this in the dr, to be able to exercise the purchase,,,
i have been told, once the lease is done the only thing you can count is to pay your rent...but all other agreements in writing or not are hard to exercise..
so if someone leases, spends time and money,,,,what stops all of a sudden the agreed terms on price at the start are not ignored, and you get the option to pay more for the time, effort and money you now have put into this business...
in the past, i have purchased outright at the start to at lease get what i agreed on.
I am sure if you or anyone else has the purchase price the terms and conditions will not stand in the way and a deal could be worked out. I think what Billy was outlining was only one suggested scheme for those who couldn't come up with the required capital straight away.
But anyone who is genuinely interested should contact Billy direct.
Re: Field of Dreams Inn - Business Opportunity.
Quote:
Originally Posted by
donquixote
something along these lines have interest for me however my concerns are in the case of a lease purchase like you describe, how trustworthy are deals like this in the dr, to be able to exercise the purchase,,,
i have been told, once the lease is done the only thing you can count is to pay your rent...but all other agreements in writing or not are hard to exercise..
so if someone leases, spends time and money,,,,what stops all of a sudden the agreed terms on price at the start are not ignored, and you get the option to pay more for the time, effort and money you now have put into this business...
in the past, i have purchased outright at the start to at lease get what i agreed on.
If you do the figures you will see that Alberto is giving someone the opportunity to see if he can made a go of the business before committing to the purchase price. Make the mortgage over a 10 year period and the payments come out to over $9,000.00us per month so why wouldn't the seller want to consummate the sale? Any way those who know Alberto know he is as honest as they come!
