So I'm currently staying in backpackers with some friends and it's absolutely packed due to the season
And in a drunken state I've done a few calculations On excel
Has anybody actually bought a property and converted into a backpackers?
The way I see it building one from scratch would be too expensive so my guess would be to buy a old house that has a good layout so that you can a few rooms and alterations to get the best possible use of space
Based on 60% occupancy throughout the year the returns seem very good
Obviously the cost would be far higher then a standard build Eg insurances, security keys, larger kitchens, fit out, licenses etc
Just brainstorming at this stage
If its a viable model then I'm sure it can be replicated around the country and possibly overseas
And in a drunken state I've done a few calculations On excel
Has anybody actually bought a property and converted into a backpackers?
The way I see it building one from scratch would be too expensive so my guess would be to buy a old house that has a good layout so that you can a few rooms and alterations to get the best possible use of space
Based on 60% occupancy throughout the year the returns seem very good
Obviously the cost would be far higher then a standard build Eg insurances, security keys, larger kitchens, fit out, licenses etc
Just brainstorming at this stage
If its a viable model then I'm sure it can be replicated around the country and possibly overseas