Anybody own youth hostels? How do you get started?
Why are the rents so low in such expensive city centers?
You know can get a bed at one in Manhattan for like $20 per night
Why is the hostel only $20? There is something weird about the prices
Is the government partly involved with hostels making the prices lower as incentives for more travelers?
Any books about how to invest in youth hostels?
Hi,
You can get a bed for $20 per night, not a bedroom! Generally speaking the hostel may have 12 or 15 beds in a room sharing one bath with one or two other rooms! $20 times 15 is $300 per night for one room (15 Beds) times 30 days equals $9,000 per month for that room!
Multiply that by 3, 4, 5 or more rooms (45 to 75 beds) is $27k to $45k per month.
Most of the existing hostels have owned their real estate (Building) for 20 or 30 years, they bought it when it’s value was significantly cheaper!
Yea, have millions of dollars and the ability to build bunk beds!
GR
Better yet, build a private jail/prison.
$20/night is about $600/month.
That’s not really “cheap,” especially for what you’re getting.
Or why not build a homeless shelter?
Gold,
I just used NYC as an example. Still, $20 is the base rate, around much of the world, for youth hostels. The rates go up up up during special events. During NYE for example, a $20 bed in NYC can go up to $200. Probably all hostels move their rates up for those events.
Red,
Smart thinking. Jails are huge money makers. You could even use inmates as free workers.
Yes, build a jail.
I definitely see that happening.
Yes, jails and homeless shelters for Americans.
Those are great investment ideas, with the Social Security Crisis just around the corner.
This is also good option for real estate investors.
Yostels?