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Updated over 3 years ago,
Post Covid tourism???!
I'm having difficulty with a purchase and determing if it makes sense. The thing that worries me is what covid has done to our tourism the past two years. Below I'd the breakdown, but I'm still waiting on the financials from the seller. My main question from the group, I'm in the black hills in south dakota and tourism is up 10%... is this sustainable after covid???
sold in 2021 for 350k and owners didn't take care of it. Re sold in 2018 for 330k. I'm able to get for 750k, not on market... multiple cabins in a prime area, but there is competition in the area.im worried if tourism dies down, what my rates would drop down to. Hard to predict due to Covid and what's post covid gonna look like.
2011-2018 they grossed 80k
2020 grossed 160k
2021 estimated 200k