Well, the unlikely has happened. In the middle of a deep recession, the property has a possible buyer. I expect to know some time late September as to the results of the current negotiations.
What that means for me is that everything is on pause.
Sorry for delaying this report. I know many are interested in what I have cooking here.
First thing of note, I went and visited the property, and learned firsthand that the B&B will need considerably more work than I initially expected. This discouraged me, and I had to take a step back and reevaluate: I didn't have a way to pay for it yet. Chandeliers, fixtures, wall patches, some carpet, paint, etc. all in addition to furniture. So I wouldn't be opening in October. Lesson learned.
Then further, after visiting and rethinking it, I came to a realization that I needed to follow more closely my initial plan of agriculture and horticulture. That, I could do for very little money.
Then inspiration hit. I could use the cabin on the property as a halfway house B&B- use the mix n match furniture I've got and have it up and running in no time! But it was not to be: he said the cabin is being occupied by someone already committed to. Scratch that.
So this brought on a new thought pattern. Why is nothing working out the way I had assumed it would? I had felt so strongly that it would. I pondered, and I thought. As I stewed and waited, the inspiration eventually came to a head; I'm not in control. My plan originally wasn't to start a B&B. (Why am I even doing it?) I wanted to do this and this other first, but then even that was contingent to controlling the land, when it came to it.
So the plan fundamentally came to itself.
First gain control of the land. Focus on this primarily.
Once you own the land, this will empower you with the freedom to do the other things.
So then, as I awaited confirmation that everything was going forward, the unthinkable occurred, and this brings us to where we are today with everything regarding this particular property on the brink of collapse.
Yet despite the direness of this, I'm confident that no matter what happens, a guiding hand has brought me to where I stand. The fact is, even before I learned of the potential buyer, I had a notion that something would happen that would delay things until late in the month. So when I got the email, it was no surprise.
This stuff is mad crazy. Not for the faint of heart, or the pessimist.
Besides, despite my feelings, I still have a back door. I was planning a trip to pick up furniture and help some friends drive stuff to CA. If I wanted, I could go back and stay.
But I don't plan to.
Either way, I haven't closed any doors.
So when everything comes down, and I have this place secured, my focus for the next 6 months to three years will be trying to find ways to pay off the mortgage so that I can own the property free and clear. Once this is addressed I will be able to pursue the plans laid out in the business plan without hitch or restraint.
I will let you all know as soon as I get the word we're moving forward.
Thursday, September 3, 2009
latest developments
Posted by
thirdofeight
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6:08 PM
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Good luck. Thoughts, prayers and well wishes are with you. Let me know what we can do to help.
ReplyDeleteThanks. That's what I need.
ReplyDeleteAny news? I know that if this place doesn't work out - you will figure out how to make things work and get something rolling. I firmly believe in never giving up if it is something that you truly believe in.
ReplyDeleteLet me know if I can help in any way!
Nope. Not from the dude. I'm not worried. I know things are going to work out, and I'm not just saying it to be optimistic. Thanks for your helpful encouragement. How your new place?
ReplyDelete