this looks like a hell of a deal
 

has anyone been here

http://cgi.ebay.com/FROGS-SEASONAL-W...QQcmdZViewItem

Re: this looks like a hell of a deal
 

Damn, that sounds like great deal. Why so cheap? Or is that the going rate on LOTO? :D

Re: this looks like a hell of a deal
 

I don't know about the timing of the sale. With gas possibly going to $4/gallon in the USA soon, I think even LOTO will see alot less boat traffic in the near future. :(
Need to have a look @ their "books" for the last 3 years.
Good luck,
Dean

Re: this looks like a hell of a deal
 

Need to have a look @ their "books" for the last 3 years.
Good luck,
Dean[/QUOTE]


ditto....but for that price you can't even get a 2/1 condo on the water here in miami :rolleyes:

mike

Re: this looks like a hell of a deal
 

I think they need some more pictures for a better description

Re: this looks like a hell of a deal
 

On Havasu that would be in the millions!
LOTO = Havasu Lite!

Re: this looks like a hell of a deal
 

it would be in the millions on lake george too

Re: this looks like a hell of a deal
 

BUT if it's such a great deal, why is it on ebay? I think that if the business books show decent profit for the last 2-3 years, and the property is in a good location, that it would have been snapped up in the local business real estate market. Just my .02.
Dean

Re: this looks like a hell of a deal
 

I've seen a number of places come and go down here at LOTO. Someone comes in falling in love with the lake and sees the busy summer business and all the boats and antes up for a place like that one. Then the reality sets in afte the first year when you realize you need to make the years worth of money in about 3 months. And 3 hectic months at that.

Re: this looks like a hell of a deal
 

Well, it does say seasonal. Nonetheless, If it's a fully-operational resteraunt, on the water, with what looks like docking for about a dozen and a half boats, the price is ridiculously low. If you run a decent resteraunt, that actually attracts people, there's no reason you shouldn't make that back in the first 3 months.

A place like that down here would be in the millions.

Re: this looks like a hell of a deal
 

Heck Nick, A two bedroom lean-to with no plumbing is worth a million down there.

I'm getting ready to auction off a three bedroom house up here hoping to get 70 grand.

Re: this looks like a hell of a deal
 

Not necessarily. A typical 3br/2ba/2-car on a deep water canal with bay access can be had for about 500K. The same place acrossed the street (not on the water) is about 1/2 that.
This place is about a 1/4-mile from me: Big 4/2/2 on the water:
http://www.realtor.com/Prop/1056742534?lnksrc=00045

Re: this looks like a hell of a deal
 

exactly :eek:

Re: this looks like a hell of a deal
 

Wow, that does look like a heck of a deal. Up here in Traverse City, a place like that on the water would go in the millions pretty easy, and then it would be a steal. I imagine that if its what it looks to be in the pictures the return would pay for itself within a year or two. It also says house included, which could possibly be made to a rental also.

Re: this looks like a hell of a deal
 

If I had a cool half mill we'd be neighbors. :D
I just remember those houses along pass a grille. Those were steep.

Re: this looks like a hell of a deal
 

Well, that's Pass-A-Grille for ya (and Tierre Verde, too)....that's big bucks, but that's right on the gulf with a view. It takes 10 minutes to get there from the bayside by boat. It's amazing what a few miles does. ;)

Re: this looks like a hell of a deal
 

Nick, We just got a re-assessment on our 2br/2b 1st floor condo in St Petes. It is on a deep water canal about 2/10 of a mile from the intercoastal and 2 miles from the inlet to open water(no, no wake zones yet). It has tripled in the 3 years we have owned it. It came in at just under $400k !! Im glad I bought when We did.

Re: this looks like a hell of a deal
 

It's got to be possible to make money on that, as CigDaze said. On Long Beach Island here in NJ, most of the businesses have that same short season (Memorial Day - Labor Day) to make their money for the year in....and the property they sit on costs them WAYYYY more than that.

Re: this looks like a hell of a deal
 

DOes anybody know:
Is it a good location on the lake or hard to get to?
How are the property taxes down there?
Easy to get a liquor license?

Re: this looks like a hell of a deal
 

The tiki bar here in solomons island maryland covers the entire years expenses including salaries/supplies/equipment, everything in opening night alone. Everything after tiki bar opening is pure profit.

Re: this looks like a hell of a deal
 

That's awesome, Bob. Your proximity to the IC is a nice feature. :cool:

Re: this looks like a hell of a deal
 

Having been involved in a similar business, yea you can make money, and yea its a chit ton of work and headaches. But the real problem is you get to work while everyone else is having fun, trust me that will wear on you. :drink:

WILL

Re: this looks like a hell of a deal
 

Location is not the best by water, but not terrible. If you've heard of the Horny Toad, its about 10 miles from there by water. Its on the Gravois Arm at the 8mm. That would make it 8 miles off the main channel which gets the most travel.

Property taxes are way cheap on residential at LOTO. I would think they are the same for commercial. I would guess somewhere around 3-4k/year.

Liquor license, I don't know. Can't be that hard as new places pop up all the time.

Re: this looks like a hell of a deal
 

That is an awful long commute from Lake George everyday Bret.

Re: this looks like a hell of a deal
 

Don't have to commute if you live there full time Robbie.

Re: this looks like a hell of a deal
 

Up the Gravious arm 8 miles, not a great location, impossible to get to by land, none of the docks meet Ameren UE encapsulated foam reuirements, last buyer with owner financing could not make it. There are so many bars on the water its not a popular bar for the masses, also highway 5 is being redirected in the near future will affect part of the land. only 1 dock there needs work, suppossed to be permits for the other 2 but I would be leary of a new dock permit, I know most of the bar owners at LOTO and none of them have any interest in it, try getting people to work it at LOTO, almost impossible, very difficult to get anyone to show up on time and work here, we need a better blue collar work force here, turnover is unbelievable, just my 2 cents and yes you have 4 months to make it then payments still keep going for the next 8 months

Re: this looks like a hell of a deal
 

hell on the chesapeake it would be in the millions.........

excuse the pun but something sounds fishy here