Probably a long shot, but P̶B̶B̶ IBB seems to always turn up someone that's done just about anything...
I'm looking at a property that, in my current opinion, would make an amazing wedding venue...among other things. It's a tad (a lot) out of my comfortable price range, but there are several features of it that could turn in to revenue generators, but the wedding thing is the most obvious.
Rambling thoughts inbound...
I'm not really sure how to approach the feasibility of the idea or the $$ potential. I wouldn't be able to dedicate much time to it and in no way would expect it to replace my day job, but I would hope it would be enough to help cover the excess mortgage that I'd be taking on. My thought would be to team up with a planner to handle the details....basically I supply the property/building and you do the rest. Or possibly just rent it out as the empty space the party or their planner takes it from there.
I feel like there's going to be a huge demand in the next year or so for all the weddings that have been delayed for the 'rona. I'm not really sure what kind of demand will remain after that, but I think it could be enough to pay the bills. I think I'd really only need like 4-6 events a year to cover the "extra" cost on the mortgage.
Things I'm trying to figure out:
-Zoning (it's very rural, so I don't think there'd be an issue here.)
-Insurance - the property/building is actually a separate parcel from the residence. Could potentially work that in my favor to insure it. There would also likely eventually be other commercial ventures on the property that I'd have to work through.
-Scheduling/planning/etc. - I'd likely sub all this out to a 3rd party of some sort. I think there are websites that specifically serve this purpose.
I'm mostly rambling...but hoping there's someone around that does something similar and has some insight.
I'm looking at a property that, in my current opinion, would make an amazing wedding venue...among other things. It's a tad (a lot) out of my comfortable price range, but there are several features of it that could turn in to revenue generators, but the wedding thing is the most obvious.
Rambling thoughts inbound...
I'm not really sure how to approach the feasibility of the idea or the $$ potential. I wouldn't be able to dedicate much time to it and in no way would expect it to replace my day job, but I would hope it would be enough to help cover the excess mortgage that I'd be taking on. My thought would be to team up with a planner to handle the details....basically I supply the property/building and you do the rest. Or possibly just rent it out as the empty space the party or their planner takes it from there.
I feel like there's going to be a huge demand in the next year or so for all the weddings that have been delayed for the 'rona. I'm not really sure what kind of demand will remain after that, but I think it could be enough to pay the bills. I think I'd really only need like 4-6 events a year to cover the "extra" cost on the mortgage.
Things I'm trying to figure out:
-Zoning (it's very rural, so I don't think there'd be an issue here.)
-Insurance - the property/building is actually a separate parcel from the residence. Could potentially work that in my favor to insure it. There would also likely eventually be other commercial ventures on the property that I'd have to work through.
-Scheduling/planning/etc. - I'd likely sub all this out to a 3rd party of some sort. I think there are websites that specifically serve this purpose.
I'm mostly rambling...but hoping there's someone around that does something similar and has some insight.