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I mean, that's cool. It'd be interesting if the article mentioned how much they made from selling their home. They could have sold their house underwater and ar
by bane 11y ago
I mean, that's cool. It'd be interesting if the article mentioned how much they made from selling their home. They could have sold their house underwater and are still servicing their old mortgage too. We don't know from the article what the story is.
Suppose they made money and have a million in the bank, how long can they ride on that before they have to pack it in and move back to a place where they can get jobs? What about their kid's future expenses, how are those sorted out?
The article mentions a couple things about their B&B:
- 3 rooms
- they get overflow from other B&Bs, not their own business.
- they only operate during the summer
So that puts an upper limit to what they can earn from that.
Going rate for Milford, ON B&B is about $200/night.
That's about $600/day. That's $54k/year before costs assuming full occupancy 7 days per week during the in-season.
- zdw 11y agoThe music camp alone is $900 to attend, with 50 students, and probably fills. That's 45K gross for a 5 day gig - I'd imagine they make 1/3 to 1/5 of that in rent: https://oldschoolbluegrasscamp.wordpress.com/register/ https://oldschoolbluegrasscamp.wordpress.com/register/ I couldn't find a time when their AirBNB sites weren't booked, but they probably command a premium given the size and amenities and tolerance for animals/kids. The math on a lot of this appears to be a lot of "slow and steady"