Has anyone here done this?
A close friend and I recently came across someone who looking to sell their property that they use as a bed and breakfast. I know absolutely nothing about owning a business yet alone running a bed and breakfast but the owner has assured us they would stay involved to help the transition.
I don't know the exact numbers, but the property is very popular in its area and gets good business, they have great reviews online. I just came across this opportunity so I don't have these numbers or details yet.
I'm in my late 20s and engaged to be married in March. My fiance and I do well salary wise. She has student loans which I planned for us to pay off within a year (which was an aggressive budget), but if we went through with this B&B I could allow that to be paid over a slightly longer period of time to have more wiggle room for the mortgage.
Do you guys have any resources/literature worth reading before moving forward? Things to know before hand before purchasing? Things to keep in mind?
Feel free to berate me or tell me how dumb a decision this would be. Any insight is welcome.
A close friend and I recently came across someone who looking to sell their property that they use as a bed and breakfast. I know absolutely nothing about owning a business yet alone running a bed and breakfast but the owner has assured us they would stay involved to help the transition.
I don't know the exact numbers, but the property is very popular in its area and gets good business, they have great reviews online. I just came across this opportunity so I don't have these numbers or details yet.
I'm in my late 20s and engaged to be married in March. My fiance and I do well salary wise. She has student loans which I planned for us to pay off within a year (which was an aggressive budget), but if we went through with this B&B I could allow that to be paid over a slightly longer period of time to have more wiggle room for the mortgage.
Do you guys have any resources/literature worth reading before moving forward? Things to know before hand before purchasing? Things to keep in mind?
Feel free to berate me or tell me how dumb a decision this would be. Any insight is welcome.