Asheville Homes and LAND!- The Keep In Touch Blog

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Life in Corporate HQ or Promises of Romance & Prosperity in a B&B? Ask Your REALTOR® (Part 2)

  As  REALTOR ® who loves the mountain landscapes , historic homes now converted to successful  Inns and prosperous B&Bs nestled in Asheville, N.C., and  nearby in picturesque villages have a special appeal for me.

As the former owner of a "green renovation" B&B Homestay,  I can recommend the B&B business--but only to my clients  who  enter it with eyes wide open, even if the building is green-built and new.

 Whether investing in a new or restored building, or possibly one you will restore due diligence  is essential.

It is also essential to know for sure that this business is for you.I can tell you for surethat it is not for everyone. But if you are attracted to it, the rewards can be immense. What owners of B& Bs tell me they like best about it varies.

 

Some owners say they enjoy meeting and conversing with their guests. Others appreciate the business as a pleasant way of life in the country or in a sustainable neighborhood. Every now and then, restoring an historic building while incorporating eco-friendly green elements into the design motivates the potential B&B owners, and we do have wonderful, historic buildings in the Greater Asheville area just waiting for your loving touch.  

Many real estate clients here in Asheville (a hot bed for fabulous, restored B& Bs) say that playing apart in sustainable building and  enjoying a "very nice" income at the same time,
with independence from the daily grind            
of a life lived within a tall building
under the supervision of others is worth every bit of laundry and early awakening to fix breakfast they could possibly encounter.

Come to think of it, when I compare the two photos I picked for this post, I can see their point.

When I talk with B &B investor clients, the concept of "sustainable" always seems to arise. And there is a consensus that great satisfaction arises from "growing" and creating an eco-friendly investment.

In this business, more than many perhaps, one's style, the personality of the B&B itself, unique hospitality, standards of excellence, and creative marketing plans really count. In a study by The Professional Association of International Innkeepers research showed that "most B&B inns needed at least five to six rooms to reach the break-even point before debt service, and at least six to seven guest rooms to reach the break-even point after debt service." The study also revealed "that average B&B owners devoted more than 74 hours a week to the daily running of a five to ten room inn."

One of my clients who was very adept at creative marketing ran a 4 bedroom establishment, organized her  staff from the college kids and grandparents in the area, worked less than 40 hours a week, and made a fine living in the process. Her accountant warned her that a four bedroom B&B completely free of debt with no hourly wage taken out might generate a profit with 20 percent occupancy. But she did much better than this.

Needless to say, there are the financial facts of monthly overhead and debt payment, and the annual occupancy rate to take into account.Other variables will include number of rooms, seasonal highs and lows, start-up and improvement costs, advertising and PR expenses, your own income level, and your own profit goals. But if you are up for the challenge, we are ready to find the perfect GREEN B&B opportunity for you right here in the amazing, tourist-oriented, Greater Asheville, North Carolina area!

 

 

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Asheville NC Real Estate Journal for RESOPURCES & REFERRALS -Mountain Homes and Land Legacies- Asheville 1031 Realty© 2014.  Designations: NAR GREEN®, EcoBroker®, Eco Certified ®Real Estate Consultant, ePRO®. Unauthorized reproduction of any information including photos and graphics on this site is a violation of existing copyright laws.  All rights reserved.

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Comments

The B&B business is labor intensive IF you are not willing to share the load. THIS place is perfect for a team to operate.
Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) almost 12 years ago
THIS B&B is located about 15 minues from downtown Asheville.
Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) almost 12 years ago
Is this property for sale?
Posted by Thomas Patrick almost 12 years ago

Would a couple have to live on the premises here? And is there a separate living quarters for the proprietors?

Posted by john thomas over 11 years ago
Thomas. YES, this property is for sale. It is located just about 15 minutes from downtown Asheville.
Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) over 11 years ago
John. A couple would not have to live on the premises, although there is a separate building that could afford privacy should you choose to live on the premises.
Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) over 11 years ago

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