Good afternoon BiggerPockets,I have found a property in North Carolina that I am wanting to turn into a wedding venue.

We've been in PM for over 25 yrs but we are very small and transitioning out of it and into other venues. 

Do you own homework if you're interested to pursue this venue.

The plot is around 26000 sf, beachfront, great tourist locationThe build quality is high, and it survived the tsunami of 2004 intactThe place is fully staffed with a manager who's been there for 19 years, with no intention of leavingThe place is one of the few in the area thats holds groups (the whole complex is rented out to groups of 12-23)It is currently earning 100k eur per annum with only 50% occupancy (the owner is old and does minimum to market - old website, airbnb, booking.com, homeaway, tripadvisor)The average occupancy of the area is 74% so there is a lot of room for revenue growthThe rates haven't been raised for 3 years and it is due for a 5% rental increaseThe reviews are stellar on all sites, with many repeat clientsThe venue is ideal for weddings, reunions, parties, bdays, etc, and the staff handle everything, including an onsite chefWhen you stay there it's like having your own resort on the beach to yourselfOwner will act as consultant for up to 1 year for freeSo, he wants to sell to my husband and I, as his manager and he really like us and know we would keep the staff and concept the same.

What venue?    

Remember you don't have to own a property to control it.Good LuckPaulSouthern CaliforniaInvestor Clubs(be sure to check club website for changes to date/time/venue) Investclub for Women (Orange County) (Iris Veneracion and Bobi Alexander) Day: Third Wednesday of every month Time: 6:30 networking & 7:00 meeting Location: South Coast Cultural Center (9 Truman, Irvine, CA 92620) Cost: $25 per person Website: womeninvestclub.com OC Investors Club (Deborah & Misha) Day: Fourth Friday of each month Time: 11:30am Location: J.T.

We need to find a restaurant or local venue that is close central to us all! 

One can find nice cash flow in many parts of CA OR and WA.. just need to look at smaller venues. your not going to find what happens in the mid west were houses are routinely bought for 5 to 15k and put 10k into them and then West coast marketing companys partner with mid west TK guys and your price gets inflated..

Just checked it out, looks like it will be an incredible venue and great time. 

I think STR's work well for 'destination points' or theme-based venues.