Bailey's Bed & Breakfast

I want to turn an 1810 Historic Farmhouse along the East River in Guilford Connecticut into a Bed & Breakfast. The history and charm of Guilford is lacking this experience. The 6 acre property has 2 barns, a pool and sits along the East River. Just across a little bridge you are on Guilford Land Trust Property with 3+ miles of trails. The house has 5 guest rooms and 5 bathrooms, three common areas and 2 porches. The Red Barn could be renovated for an event space and the field in front set up as a Farmers Market in the summer.  The property is listed on the Connecticut Historic Preservation registry and I would like to get it listed on the National Registry.  All renovations to the main house would keep the historic feel while adding modern comfort, like air conditioning. 

The property would be 1.5M and I am estimating renovations to be in the 400K range but would like a buffer for the unknown. Total project to get up and running to be safe would need 2.2M. Probably wouldn't need it all but better safe than sorry.  Funds until utilized would sit in a Schwab MM which current yield is 5.3%.  My ruff numbers suggest that based on a 50% occupancy for 340 days annually we could cover all expenses. Once the proprty has been purchased, there are numerous grants and tax advantages that are available.

Activities in the summer would include Kayaking on the river, hiking, beach days on either the local or state beach, swimming in the pool, strolling around the Guilford Green with its many shops, historic museums & restaurants. In the winter much of the same with outdoor firepit &  sleigh rides if there is snow  while surrounded by the charm of Christmas in Connecticut. 

There is a train station which allows New Yorkers to escape the city for a country weekend getaway.  Transportation will be provided for those that choose to take the train.  Homemade Breakfast every morning sourced from local products that will accommodate all dietary needs. Hot soup and home made bread will be available if people chose to stay on site for lunch.  

Marketing would be our website, Google Travel, Social Media Influencers, Travel Sights and Magazines & FaceBook. The Connecticut Shoreline is already a destination so all we need to do is promote the experience. As AI becomes more and more prevelant, I believe what people are going to seek out is nature and experience, and this property provides it all.

For the last 20+ years I have been providing individuals and families with financial security and confidence. The last 5 years I was VP at an Ultra High Net Worth Family office in Houston where I managed the complexities of 30 families. Having moved back to Connecticut I think the next 20 years would be much better spent providing people with an experience.