THIS MONTH’S FEATURED REAL ESTATE ARTICLE
Buying and Selling Inns and Bed & Breakfast
Hasn’t everyone thought of running a countryside inn or a bed & breakfast? How you would transform a historic building with your own chic style, visit with interesting guests, and serve elegant breakfasts? I wondered if this was ever more than a fleeting daydream and whether it could make economic sense. I decided to investigate how much it costs to buy a small inn or bed & breakfast and what it takes to make it a profitable venture. And then how to go about selling […]
JULIET MOORE’S INTERVIEW
What should a buyer look for in terms of return on investment? Is there any kind of multiplier that you aware of – like x times revenue, x times some measure of income?
While a prescribed return on a business, calculated on a desirable CAP Rate based on the Net Operating Income,is optimal – in my opinion, the short answer is that it is really not realistic with regards to the hospitalitybusiness. One needs to buy a restaurant or an inn because you want to run it […]
45 Years in Real Estate
There are many real estate offices that dot our region. But have you ever thought about what it takes to not just start, but to also run a real estate firm? This month we caught up with David Bain of Bain Real Estate, based out of Kent and Sharon, CT.
When did you start your real estate career?
When I was in graduate school in New York City I looked all over the Tri-state area for land in the country. Finally I found a beautiful piece of land […]
Real estate in the Town of Sharon, Connecticut
Unchanging Sharon, the long view. Real estate in the Town of Sharon, Connecticut
Main Street published our first and only to date article about the Sharon, CT, real estate market exactly six years ago in 2013 just as home prices everywhere were making an unsteady recovery. We look way back to 2003 to see what had happened and where we are now. (You can check for yourself by going online to the August 2013 issue at www.mainstreetmag.com and select “past issues”).
Sharon’s historic Green runs through the […]
