Hmm, condos, at, say $25K apiece? Annual association dues of $1K could
cover a resident manager for those who wanted to rent out their units, and
possibly cover commons maintenance as well. Each unit covers their own
utilities and taxes.
Benn
----- Original Message -----
From: "Jon Wennerberg" <jonwennerberg@nancyandjon.org>
To: "Tom Shannon" <saltfevr@q.com>
Cc: <land-speed@autox.team.net>
Sent: Tuesday, February 09, 2010 5:41 AM
Subject: Re: [Land-speed] Bonneville Inn For Sale in Wendover
> On Feb 8, 2010, at 9:26 PM, Tom Shannon wrote:
>
> Thanks guys! I knew someone would crunch the numbers! LOL I'm waitin' for
> Jon
> W. to chime in. Like Chris' idea. Salt Talks by the pool!
>
> Ed I'm sure you still got your canoe!! You know your signature roof top
> item.
>
> Tom Shannon
> Magna, Utah
>
>
>
> Yeah, I've heard from a number of you "off-list". And I thought you had
> more
> faith in my sense of common sense. I ran the numbers through my head a
> few
> times and came up with this - n - that, but don't hold your breath for
> Nancy
> and me to make the first move.
>
> Things that'd be vital: First of all, keep the long-term renters. You'll
> need revenue year-round. If you've got worries about them staying honest,
> up
> to date, and clean rooms -- change the rules to "Rent is due weekly and
> will
> be collected by our resident manager visiting your rental unit each
> Friday."
> That way your person is in each unit weekly -- reduces the nmber of meth
> lans
> that'll be run.
>
> Second, have some maximum for the number of long-term rentals -- be
> available
> for overnighters during the no-racing season. And write the long-term
> rental
> contracts such that they'll have to move out by 1 August.
>
> Third -- unh, before you use that $16k++/room number -- add in money for
> maintenance, taxes, utilities, and so on. Then it's time to come up with
> your
> monthly outgo -- what'll it take to make the monthly payments? That's the
> big
> number you'll have to hit, the "nut you'll have to crack", every month.
> Is
> the number such that in August and September you can put bucks into the
> bank
> account - so you'll have enough to make the monthly payments in February?
>
> Unh, no thanks, but it's sure fun to dream, isn't it?
>
> Jon Wennerberg
> Tall guy with moustache
> and a pair of 2 Club hats
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