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im gonna hold you to your word
- General Mackevili
- The General
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PSD-Kiwi wrote:Wouldn't be a bad deal if you could negotiate a longer term lease (at least 5 years) at the current rental price with the landlord prior to finalizing the sale.
Yeah, $8K isn't bad, but with that 1-year lease, ouch. A very good idea, PSD. Is that common practice?jayblues wrote:the bar looks nice. 8 grand is not a bad price considering it looks clean and set up well.
A good barman could flip it into a popular spot.
I kind of assume the owner wouldn't sell it if he were able to do that, hence the $8K that "looks" like a good deal, until you think about the lease, and then it's not a deal at all.
I kind of assume every bar that is at the end of lease that can't be extended "looks" like a good deal.
Haha, OK, that would be hard to accomplish.
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there is certainly a vacuum in the market left by outback for a certain demographic a cut above GSM
Arrive at the airport with a large fortune and buy a bar.
- The Pun-isher
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Invest in dwarf wrestling?
That's what would happen. The length of the current lease is irrelevant. Extremely few landlords will agree to go through the hassle of changing the names of the tenants on an existing lease, especially one with only a year and and a bit remaining.PSD-Kiwi wrote:Wouldn't be a bad deal if you could negotiate a longer term lease (at least 5 years) at the current rental price with the landlord prior to finalizing the sale.
The potential new owner will sit down with the landlord and negotiate a new three or five year lease, with a slightly raised rent. This is before agreeing on a sale with the current business owner.
This current business owner has already indicated he will include the price of the rent deposit in the sale price, which is a good deal
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I agree that the bars on that street have a hard time as well but the bars you mentioned you have mixed up with 174 General, not 172. This one is near to Shanghai.General Mackevili wrote: ↑Tue Jul 11, 2017 11:34 amLoL, it does sound cheap, until you do the math for the one-year lease. I think once there's only 2 years left on a lease, it should normally just be given away. 5 years would be my minimum on a "cheap" buy, personally.AlonzoPartriz wrote:It seems fairly cheap. Have you never fancied being a pimp General?General Mackevili wrote: ↑Tue Jul 11, 2017 11:05 amLambo Land Bar. Serving all spirits with fruit PUNCH.
And, while you can definitely say it's in a "good" location, bars on that street are hexed.
Rehabb, El Capitan, now it's Mang's, in a very short time.
That nightclub has changed about 100 times, etc. (I can't remember the name.)
So while it's just half a block off 51, it's still OFF 51.
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