Lone Star Saloon Bar & Guesthouse FOR SALE in Phnom Penh, Cambodia: $69,000

Yes... we are absolutely interested in your $50,000 bar for sale with 3 stools and no customers.
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Re: Lone Star Saloon Bar & Guesthouse FOR SALE in Phnom Penh, Cambodia: $69,000

Post by angkorjohn » Fri Oct 12, 2018 8:00 am

While I agree it's a nice place, good food and Ronnie did a good job, my only question is IIRC Gregg stuck it up for $60k a couple of years back, so assuming he got that how is it worth an extra $9k when you have two years less on your lease to make the money back?

Anyway good luck to the seller, I hope the new owner keeps it ticking along.
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Re: Lone Star Saloon Bar & Guesthouse FOR SALE in Phnom Penh, Cambodia: $69,000

Post by logos » Fri Oct 12, 2018 11:12 am

Cam nivaq's point was legit.
My reply to it was in no way trolling. I even went to great lengths to emphasize that scenario did not look likely in this case.
Maybe FLB should focus on proper business practices that include due diligence rather than trying to take some sort of moral high ground based on zero successful experience.

If you can't take legitimate questions, you've got no place modding business related posts.
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Re: Lone Star Saloon Bar & Guesthouse FOR SALE in Phnom Penh, Cambodia: $69,000

Post by General Mackevili » Fri Oct 12, 2018 11:58 am

Well, we've been trying to be a bit more active in not letting each and every topic about anything and everything FOR SALE turn into total shit with 'too expensive, what a rip-off, etc,' which just gets tedious. You could probably offer a free Villa on the beach, and someone would come along and cry about which channels you could or couldn't get on the 80-inch TV. That said, I think a couple of fair comments also got deleted, so those have been restored.
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Re: Lone Star Saloon Bar & Guesthouse FOR SALE in Phnom Penh, Cambodia: $69,000

Post by Brody » Fri Oct 12, 2018 12:02 pm

General Mackevili wrote:
Fri Oct 12, 2018 11:58 am
That said, I think a couple of fair comments also got deleted, so those have been restored.
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Re: Lone Star Saloon Bar & Guesthouse FOR SALE in Phnom Penh, Cambodia: $69,000

Post by clutchcargo » Fri Oct 12, 2018 1:15 pm

Cam Nivag wrote:
Fri Oct 12, 2018 2:17 am
What happens if someone pays $69,000 for the place expecting to enjoy a $900 per month rent for seven years and the landlord says "Your rent's too low. I just doubled it. Pay or get out."

Or "I just sold the building. Get out."
I think the landlord here has a pretty good track record and presumably would honor whatever is in the lease agreement.

However in general, and this being KOW, are lease agreements here worth the paper they are written on and are they enforceable? What recourse do you have? Do you go to the police? Is there some sort of small claims court?
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Re: Lone Star Saloon Bar & Guesthouse FOR SALE in Phnom Penh, Cambodia: $69,000

Post by IraHayes » Fri Oct 12, 2018 1:39 pm

I bet a lot of the property owners in SHV were " decent guys" too. Till some Chinese guy offered them a huge wad. Does anyone think the landlords in PP are more honourable? Therefor even negotiating a new lease at the point of sale would be irrelevant. But hey... How do you make a small fortune in Cambodia?.... Arrive at the airport with a large fortune and buy a business.
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Re: Lone Star Saloon Bar & Guesthouse FOR SALE in Phnom Penh, Cambodia: $69,000

Post by beaker » Fri Oct 12, 2018 1:51 pm

Building owners are under no obligation to continue the terms of a lease with new owners or to even give them a lease at all.
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Re: Lone Star Saloon Bar & Guesthouse FOR SALE in Phnom Penh, Cambodia: $69,000

Post by Cam Nivag » Fri Oct 12, 2018 3:25 pm

frank lee bent wrote:
Fri Oct 12, 2018 6:36 am
No, I am going to ban people for offensively pointing out- in a smart ass way- what should be obvious points of normal purchase due diligence requirements that apply to any commercial transaction- presumably purely to show their egocentric and superior acumen.
your feigned concern for potential buyers is absurdly transparent.
as far as special friends go- have you any? word around town would suggest not.
You go first, captain obvious.
unlike other places, trolling is not allowed here, or at least has warnable limits.
if you cannot respect that- toodle-oo
I would suggest that you didn't really delete posts here because the observations were "obvious," you deleted them because they didn't praise this buying opportunity and presented another viewpoint.

If CEO were in the business of deleting "obvious" advice, there wouldn't currently be a six page thread warning folks not to fall in love with and do business with hookers.
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Re: Lone Star Saloon Bar & Guesthouse FOR SALE in Phnom Penh, Cambodia: $69,000

Post by explorer » Fri Oct 12, 2018 3:42 pm

beaker wrote:
Fri Oct 12, 2018 1:51 pm
Building owners are under no obligation to continue the terms of a lease with new owners or to even give them a lease at all.
I believe that is the law in Australia and the UK also.

If somebody has a legal contract, and they sell the business, that contract is not binding with the new owner.

So the correct thing to do is, negotiate a reasonable deal with the person selling the business, and make a new contract with the property owner.

If there are any legal experts here, share your knowledge.

Many of us know, most Cambodians will break a legal contract, if they see an opportunity to make more money, and there is little you can do about it.

Because of that lack of certainty, my advice is, dont pay too much. Many people have lost money.
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Re: Lone Star Saloon Bar & Guesthouse FOR SALE in Phnom Penh, Cambodia: $69,000

Post by Cam Nivag » Fri Oct 12, 2018 3:57 pm

That surprises me because UK, Australian and American law all have similar origins and in the USA a leasehold interest can be transferred to a new buyer of the business absent lease terms that give a landlord the right to approve a buyer.
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