Potential Bed and Breakfast | Ways to evaluate the deal!

[Siddharth Patel]

First Post! Avid listener, and finally found a good opportunity to buy a Bed and Breakfast in my city of New Orleans. It has the potential space to serve as a event venue, STR, and bed and breakfast. I am looking for guidance and tips on what metrics to evaluate when offering and negotiating a purchase.

New Orleans is very saturated with hotels, and STRs. Summer is also tough to rent out. So I am going with a 75% occupancy to accommodate. 

[Siddharth Patel]

Quote from @Andrew Syrios:

If it's a bed and breakfast, you'll need someone to run it, not just your typical AirBNB. Do you plan to manage it yourself or look for an operator?

 I have a property manager onsite. They have been with the property for 3 years. I am looking to keep them on, so long as they are open to changing processes, and marketing. The property has under produced based on the P/L of the last three years