Comments by "" (@timogul) on "Louis Rossmann"
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It's got character though! Still as it's a restaurant, if I owned that property, if I wanted to do some business, I would ask myself "what is this place worth 'in good times?'" If it's $40,000 a month or whatever, ok, that's the baseline. I would tell a customer, "you lease out this space right now, and you pay me, I don't know, $25,000 a month, even $15,000 a month, something fairly small but better than nothing, but something they could afford to keep up with, but that is contingent on the lockdown levels. It would go up as the restrictions lift, but I would lay out how and when it would go up in advance, and I would say that I'd cap the price at maybe $35K for at least five years, some amount less than the going rate, some deal like that, to say "you invest in this deal now? It'll work out to a good deal for you for a few years at least." I bet they could make more money that way than just leaving it vacant.
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