Let me introduce you to Whispering Firs Retreat. This property is located in downtown Grayson, Georgia which is about 30 miles northeast of Atlanta. The downtown area is being revitalize with small mom and pop restaurants, boutiques and a variety of shops all within a couple of block walking distance. The house was built in 1897 and originally named by the owner as ‘Whispering Firs’ . With this property still boasting a bit over an acre of land, with many trees, it connects directly to the city park which has beautiful walkways, majestic trees, and has regular concert, outdoor movies and events for the community. You can also see the pavilion from our driveway !
The plan is to restore and renovate the house and land to the illusion of the original time it was built, but with some well disguised modern conveniences. I believe this would make an excellent Boutique Hotel and would only require some minor, but expensive modifications. Over the last few months I have talked with contractors, gotten estimates and have set out a lot of the basic ground work for the making this a reality. The great news is that the house is in very sound condition !!! However, it has been unoccupied for about a year and was most recently used for office space. So while most of the rooms have a lot of the old charm, fireplaces in a lot of them, original woodwork and hardwood floor, etc. there are only 3 half bath in it. There are 5 rooms that would be made into guest rooms with one of those, on the main floor, as a handicap accessible one. Major expenses will be to the basic electric and plumbing upgrades, as well as new windows. The previous owners had recently put in a new heating and air conditioning unit, had a new roof put on and restored the front porch.
Since there are no other hotel, motels, B&Bs or overnight lodging facilities in Grayson and only a handful within a 5 mile radius, I believe this is a good grand floor opportunity to help embrace the history, community and make this a destination spot for a variety of groups and individuals alike. Even if most people are hesitant to invest right now, I believe this is a wonderful opportunity to embrace this unique venture, as we have had several booking that have been expressed, as soon as we are open. In our initial year, I am also looking forward to several different income revenue streams, such as classes, book signings, engraved bricks sales, etc, that can start almost immediately. This will help with offsetting expenses until we have the ability to rent overnight stay rooms.
The projection is to net approximately $150,000 to $180, 000 per year with this property. So your investment of $150,000 would give you 15% of the equity in the business or if you would prefer more, I would be accommodating up to 30% with a percentage for each $10,000 above that.
I look forward to hearing from you and answering any questions you may have.
Sincerely,
Julie Needham
[email protected]816-820-2406