BikiniBound's Diary
- Thread starter bikinibound
- Start date
Omega
Moderator
Be picking these people's brains now so that you know whether you qualify or not and what criteria they use to make such decisions. Use these contacts and get so that you are all ready to go. You could even practice putting together a business plan for one of these properties that are current "possibles" if only they were still on the market. Effective report writing is often a formulaic cut and paste activity. Come up with a report and hone it. It will be good practice. It is then fairly simple and quick to follow the format and cut and paste it for the new contents.
Good luck for the new low any day.
Good luck for the new low any day.
LOL. I could just picture the nerdy yet pompous bookstore employees, actually envious that you're about to go eat a nice dinner while they're stuck in there working 
.
That IS tough about the parents bringing in the junk. I like Omega's idea of limiting the housemates (H's or whomever) to things we dont get a taste for. A brilliant idea..I only wish my H would go along with it. Yup, pretzels covered in mustard, which I find revolting, or ..I cant think of any other snacks I'm not so keen on..THEY"RE ALL GOOD!
Hoping to hear about a new low soon. Glad you got back there yesterday!
Luv, C
.That IS tough about the parents bringing in the junk. I like Omega's idea of limiting the housemates (H's or whomever) to things we dont get a taste for. A brilliant idea..I only wish my H would go along with it. Yup, pretzels covered in mustard, which I find revolting, or ..I cant think of any other snacks I'm not so keen on..THEY"RE ALL GOOD!
Hoping to hear about a new low soon. Glad you got back there yesterday!
Luv, C
bikinibound
New member
I wrote a business plan for the potential b&b we nearly bought in Tasmania in 2001, so I have already got some experience under my belt re that. Today is Martin Luther King Jr day, so all the banks are closed. I will get in touch with my lender this week (I'll be talking to her anyway about the sale I have going) and have her run our credit for one thing. If it's not improved enough, I can forget about buying anything for now.
Omega
Moderator
In the UK credit checks are run via 3 organisations experian, equifax and I think it is call credit. You can contact them and for a minimal cost find out exactly what they have on file and if you disagree get it changed.
If you encounter a problem I would find out who fails you (everything is so globalised these days - I would not be surprised if it were the same companies there and here). It never pays to let these things rest or accept a rejection as being the final answer.
If you encounter a problem I would find out who fails you (everything is so globalised these days - I would not be surprised if it were the same companies there and here). It never pays to let these things rest or accept a rejection as being the final answer.
bikinibound
New member
As a realtor, I am well versed in how the credit system runs, not to worry. Here it's equifax, transunion and experian.
But it doesn't matter b/c I just got an email back from the biggest inn broker in Michigan, and he said that a b&b in our price range wouldn't cashflow, and that he doesn't recommend anyone buy one unless they have a minimum of $100K to put down. So there goes my dream. For now, at least.
So on to plan B--whatever that is.
Omega
Moderator
That's bad luck.
Can you trust their judgement? Is it worth seeking a second opinion?
A currently running one would surely have a track record and you could go through the books. Is he saying that if it was running successfully the goodwill would raise it into a higher price range?
Is this just in Michigan - or would the situation be different in another location? How tied are you to Michigan - or would you move away to fulfill your dreams?
Can you trust their judgement? Is it worth seeking a second opinion?
A currently running one would surely have a track record and you could go through the books. Is he saying that if it was running successfully the goodwill would raise it into a higher price range?
Is this just in Michigan - or would the situation be different in another location? How tied are you to Michigan - or would you move away to fulfill your dreams?
bikinibound
New member
I certainly trust his judgement. He's been in the business for nearly 20yrs and it's in his interest for us to buy one, as he'd get paid for it. The trouble is that you really need a large inn in order to make a decent profit. Most people who buy b&b's are empty nesters and retirees who have $100K-200K in cash from the sale of their homes, and also recieve a monthly pension. They are in a much better position than we are. If we moved out of Michigan to a different state, we'd just encounter higher prices. Vermont is a great b&b mecca, but the cost of them is astronomical. So are Charleston and Savannah. Michigan is actually one of the best places, imo b/c housing prices are very reasonable comparatively, and we do get a lot of tourism due to the Great Lakes.
bikinibound
New member
LOL. I could just picture the nerdy yet pompous bookstore employees, actually envious that you're about to go eat a nice dinner while they're stuck in there working
That IS tough about the parents bringing in the junk. I like Omega's idea of limiting the housemates (H's or whomever) to things we dont get a taste for. A brilliant idea..I only wish my H would go along with it. Yup, pretzels covered in mustard, which I find revolting, or ..I cant think of any other snacks I'm not so keen on..THEY"RE ALL GOOD!
Hoping to hear about a new low soon. Glad you got back there yesterday!
Luv, C
Ha! I never thought of it that way..lol. Somehow, I missed this post earlier.
Yeah, one good thing is that they usually eat it up quickly so the tempatation passes soon. My parents can eat a half gallon of ice cream in one day easily.
Happychubette
Banned
Hi there Bikinibound. I admire your exercise and weight tracking. You're really coming along.
bikinibound
New member
Exercise this week:
1/21—45 min exercise bike, 15.32 miles, weight: 223
Monday's food: 1,715 calories, 31g fiber.
I don't know why I'm listing my fiber still, since the bonus is over. I should be listing my Fri-Thursday exercise. So far I've got 165 minutes and I need 300 to get all my points.
I was planning on working out for an hour at the gym today, but it was snowing again (it's supposed to snow everyday for the next week), and the roads were bad. Plus my car was covered in snow. So I got on my bike instead. Thank God I bought that thing back in 2002. I only paid about $120 for it, and I've certainly gotten a lot of use out of it--especially lately.
Well, another good day calorie wise, so maybe I'll hit that new low tomorrow. *prays to the weight loss gods* We need a praying emoticon. A beggin one would work, too.
So I'm still not giving up completely on the b&b. Here's why: Just a few months ago and 8-room inn sold in Ludington (a beautiful old Victorian) for around $400K. I know what the average room rate is, and I can estimate the occupancy rates. I would say that place should cash flow pretty easily if you have a couple running it w/out any employees. And that price is in the realm of affordability for us, I believe. The trouble is, those opportunities are rare. Soo...we'll see. I guess if it's meant to be it will happen.
I talked to H about us going back to Korea to teach again for a few years. That way we could 1. save up money for a b&b, and 2. get out of my parents' house. Well, H never likes my ideas at first. He has to warm up to them. It took him awhile to warm up to the b&b thing, too. That is an area where we're very different. I'm very spontaneous, and he isn't. I'll wake up some days and say, "Let's take a day trip to such and such place." Or let's do --- today." H's immediate response is almost always negative. He needs time to warm up to my whacky ideas. It really gets on my nerves sometimes. I wish once in a while he'd just say, "That sounds like a great idea. Let's do it." Anyway, tonight when I mentioned the Korea thing, he actually responded in a way that made it within the realm of possibility. He didn't poo-poo it compelely like he normally does when I bring up going back there (which I do about twice a year since we came back from there...lol).
1/21—45 min exercise bike, 15.32 miles, weight: 223
Monday's food: 1,715 calories, 31g fiber.
I don't know why I'm listing my fiber still, since the bonus is over.
I should be listing my Fri-Thursday exercise. So far I've got 165 minutes and I need 300 to get all my points.I was planning on working out for an hour at the gym today, but it was snowing again (it's supposed to snow everyday for the next week), and the roads were bad. Plus my car was covered in snow. So I got on my bike instead. Thank God I bought that thing back in 2002. I only paid about $120 for it, and I've certainly gotten a lot of use out of it--especially lately.
Well, another good day calorie wise, so maybe I'll hit that new low tomorrow. *prays to the weight loss gods* We need a praying emoticon.
A beggin one would work, too.So I'm still not giving up completely on the b&b. Here's why: Just a few months ago and 8-room inn sold in Ludington (a beautiful old Victorian) for around $400K. I know what the average room rate is, and I can estimate the occupancy rates. I would say that place should cash flow pretty easily if you have a couple running it w/out any employees. And that price is in the realm of affordability for us, I believe. The trouble is, those opportunities are rare. Soo...we'll see. I guess if it's meant to be it will happen.
I talked to H about us going back to Korea to teach again for a few years. That way we could 1. save up money for a b&b, and 2. get out of my parents' house.
Well, H never likes my ideas at first. He has to warm up to them. It took him awhile to warm up to the b&b thing, too. That is an area where we're very different. I'm very spontaneous, and he isn't. I'll wake up some days and say, "Let's take a day trip to such and such place." Or let's do --- today." H's immediate response is almost always negative. He needs time to warm up to my whacky ideas. It really gets on my nerves sometimes. I wish once in a while he'd just say, "That sounds like a great idea. Let's do it." Anyway, tonight when I mentioned the Korea thing, he actually responded in a way that made it within the realm of possibility. He didn't poo-poo it compelely like he normally does when I bring up going back there (which I do about twice a year since we came back from there...lol).
Omega
Moderator
That sounds like a great price. I just put it into a currency converter and it says £206,000. I imagine that opportunities like that are very rare - but you are in the business that you should be able to spot one if it comes along. If you were out of the country teaching and saving money you could miss out.
It may be worth holding back on going off to teach until the money is settled and you have checked whether anything similar is likely to come up. You could even do the normal sort of tricks that estate agents seem to do to try and create an opportunity (stick leaflets through similar properties, find out if anyone has died or is going into old peoples homes etc).
Getting out from your parents house is a huge thing. You have tried living with your parents and it has done no favours to either your relationship with your husband or your weight loss efforts (you have fought more of an uphill battle than should have been necessary).
Would going back to Korea to teach for a few years cause problems to your plans to start a family? I hate to mention the fact that as you get older you will become less fertile. Please keep an eye on this as I know that you have said that you will feel that you missed out if you do not have kids. Many people do not realise that they will have any problems having kids until they have been trying for a while with no success.
Only you and your hubby can make such decisions - but I would hate for you to not consider all possible consequences.
Curvie Girlie
New member
Eww! Hahahaha!
Yay with the bike riding, I need to get into that more, too!
I'm ignorant to business, can't respond intelligently, but I'm glad you're forming ideas and plans!!
niapage
New member
Hey there busy bee!! Wow snowing there to eh...I am sick of -2 and snow it's not enough snow to close schools but enough to make roads and sidewalks slick.You are doing so great and I think the challange has pushed us all,I have done ATLEAST 1 hour of exersices per night for the last 3 days,not sure if I can claim more times "AS" exersiceing so I figured atleast an hour is well deserved ,lol just ask my body it is sore.Keep up the gr8 work,**huggs**Tammy
bikinibound
New member
I might miss out on that one, but another would come along, and I'd be in a much better position to buy it.
Something similar will always come up. It's just a matter of timing. Ludington has about 10 b&b's, and they tend to turn over every 5yrs on average. 4 of them have changed owners within the past 2yrs. The tricks you've mentioned don't really need to be done with a b&b, as I'm only interested in one that is already established--not a house that has the potential to be one.
Actually, living with my parents has been pretty good for the most part. My parents are very easy to get along with, and they have been very dependant upon us to help them. They will be sad to see us go. Sure, there are times when I want to pull my hair out, but most of the time it's ok. It certainly could be a lot worse.
I'd just have the babies over there. I am already scared to death that I've waited too long to conceive. Some woman don't have trouble conceiving in their 40s, yet some have trouble in their 20s. It's a crap shoot that I've gambled with, and don't want to put off much longer. I already know a great Korean female OB/GYN over there who I'd have be my doctor.
I couldn't get to sleep last night b/c I was so consumed with figuring out plan B...lol. Finally, in the wee hours of the morning, I think I figured it out. When H gets that money, it will put us in a great position to buy a house that needs some minor repairs, fix it up nicely, and then sell it for a profit. We tried to do this back in 2003 and it was a disaster. However, we learned a lot from the experience, and would also be in a MUCH better financial position than we were then. I have already done some research today, and found a great house that looks like it would work well. We could live in the house until it sold, and then find a new one. If we spent 2-4yrs doing this, we'd have more than enough money needed to buy a B&B, and H wouldn't have to quit his job, it would boost my real estate business, we could have babies, and could stay in the area so I'm near my parents and Gran.
And then I got an email directing me where to register for the Foreign Service Exam. I have signed up to take it on March 6th. I cannot back out now, as I'll be charged $50 if I don't show up.
bikinibound
New member
Bah, Scalentino's a prick. No new low today--still 223.
Hopefully tomorrow. I've been so busy today that I haven't had time to pig out. 
bikinibound
New member
bikinibound
New member
H and I talked about it today, and we both agreed that we don't mind going back to Korea so much as we don't want to teach again.
He likes the idea of fixing up and flipping a house. But if we did go back to Korea, don't worry--their telecommunications system is very good, and high speed internet is readily available in all but the tiniest of hamlets. Their population density is so high that it isn't hard to cover most areas. Also, anywhere there's a university, there will be internet--even if it's in the middle of nowhere. I think Korea is far more advanced than most Americans think. It is not a 3rd world country by any means.