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Redwarrior
 Post subject: Re: Hotel Castillo
PostPosted: Sat Mar 08, 2014 7:14 pm 
Just Learning The Gulch!
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Joined: Mon Jun 18, 2012 9:45 pm
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Rac wrote:
My thoughts......... If it flies, fucks or floats (or has anything to do with any of these things)

RENT, DON'T BUY :!: :!: :!: :!: :!:


+1
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GoodDayJohn
 Post subject: Re: Hotel Castillo
PostPosted: Tue Mar 18, 2014 12:01 pm 
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MuffinMuncher wrote:
Asking price of $1.4M seems high, but admittedly I know little about the actual land value there.
...
The profit margin on a $500K hotel (before paying the owner) might be $100K if there is no rent and payroll is under control. Even at 5x Cash Flow that's a $500K valuation on the business itself.

Therefore, the value of the land and property would have to be $1.35M. Thoughts?

I don't understand your math. 1.4M less 500K equals 900K. How do you come up with 1.35M?
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Jawanker
 Post subject: Re: Hotel Castillo
PostPosted: Tue Mar 18, 2014 7:00 pm 
PHD From Del Rey University!
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Redwarrior wrote:
Rac wrote:
My thoughts......... If it flies, fucks or floats (or has anything to do with any of these things)

RENT, DON'T BUY :!: :!: :!: :!: :!:


+1

Especially the phux part.

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Myrivers
 Post subject: Re: Hotel Castillo
PostPosted: Wed Mar 19, 2014 2:47 am 
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Joined: Wed Dec 29, 2004 4:36 pm
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Location: CANADA Eh!
I've stayed there many times. Always friendly, clean and comfortable. Yes its not the high end hotels but works for me. Been for sale for awhile now.

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MuffinMuncher
 Post subject: Re: Hotel Castillo
PostPosted: Wed Mar 19, 2014 9:58 am 
Not a Newbie I just don't post much!
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Joined: Thu Sep 10, 2009 11:10 am
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GoodDayJohn wrote:
I don't understand your math. 1.4M less 500K equals 900K. How do you come up with 1.35M?


I corrected my math - admittedly was doing it without a calculator or spreadsheet, missed a zero. LOL

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