Cognitivelion
PARKED
- Joined
- Jan 6, 2016
- Messages
- 5
Rep Bank
$40
$40
I was thinking if I were to pay off a peice of land with a double wide and have no debt how 90%of my income would become applicable.
I've stayed in a inn a couple times at 35-45$/night
The simple math seems like even if they only have 5people/day=175x30days=5250$ a month.
In reality they receive far more guests per day.
Assuming you make 6000$/Monthx 12 months=72,000year.
It seems worth while.
Where I lack understanding is the cost of opening an inn, motel or apartments. I've tried to do research it seems like 75,000-100,000$would be enough for something economic. Seems like a tangible goal having your return withim the 1st year.
I am not fond of debt,and would probably secure the investment over a period of 5 years.
Cost of land?
Cost of project?
Unforseen costs?
Additional advice and requirements?
22 years old and live in Texas, so I've got time.
Sent from my SM-G530T using Tapatalk
I've stayed in a inn a couple times at 35-45$/night
The simple math seems like even if they only have 5people/day=175x30days=5250$ a month.
In reality they receive far more guests per day.
Assuming you make 6000$/Monthx 12 months=72,000year.
It seems worth while.
Where I lack understanding is the cost of opening an inn, motel or apartments. I've tried to do research it seems like 75,000-100,000$would be enough for something economic. Seems like a tangible goal having your return withim the 1st year.
I am not fond of debt,and would probably secure the investment over a period of 5 years.
Cost of land?
Cost of project?
Unforseen costs?
Additional advice and requirements?
22 years old and live in Texas, so I've got time.
Sent from my SM-G530T using Tapatalk
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