Montreal, Quebec, Canada
Agent: Cliff Jacobs - Managing Principal Estate Agent
Agent Cellphone: 0844131071
Agent Office Number: 0617166951
Agent Email Address: email@example.com
Type: Bed and Breakfast
Yield: Not Disclosed
Charming Victorian house probably converted by the Church to a seminary in the late 1800s, after which was probably used as a rooming house until I transformed it into a b&b in 2000.
I have made many renovations so the building is in good condition. The layout of the building is almost perfect for those operations. The terrace on second floor is the masterpiece of this operation: 400 s.f of sunny outdoor terrace for breakfast. Marvelous! The building itself is worth about 1M$CAD.
My main 3 concerns when I purchased it were: location, location and location. I am 200 feet from bus terminal, 100 feet from subway entrance, 1000 feet to highway and 2000 to bridge. The Latin quarter, the village, the plateau and the old city are all less then 10 minutes walks. My objective is to fill up the place, for that matter my prices are some of the lowest in town for a 2-star establishment. As a matter of fact it is one of the most frequently-reserved b&bs on line in the entire province of Quebec. My clientèle is wide and repeated: lots of Europeans (35%), lots of Americans (35%), lots of gays (25%), lots of family (25%). There is room for an active operator to raise price. Sales around 235000$/yr. Cost of operating before salary and financing is around 60000$/yr Finding financing is always difficult when it come time to finance hotel/b&b, more difficult if you are not a resident. Ideally all cash deal would be good, as you can recover you down payment in less then 10 years. As a accountant and tax adviser, I will help you finding financing and will also train you for one month to keep the successfully business going and going and going.
(Wording by Owner).