Wednesday, January 19, 2005
Several weeks ago, we mentioned a location we were investigating that was catty-cornered from a university. We have not been able to make contact with the owners, even after sending a certified letter to their last known address. The building is 1 year in arrears for taxes, unfortunately, it will not be sold for back taxes until it is 3 years in arrears. Because it will be at least 2 more years before we can do anything on it in reference to the taxes, we decided to search for the mortgage holder, to see if it was in default and if we could assume the loan, but have had no luck so far.
While we will still pursue avenues for that location, we aren't going to count on it.
We found 3 other locations that look good. Traffic counts range from 17,436 a day to 21,184. The size ranges from 2500 square feet to 3600 square feet, and prices from $950.00 to $1,400.00 a month. If we are approved for leasing the equipment, it's possible we could be open in a few short weeks.
I know. We've said it before.
And we meant it then, too.
With my tax refund, we need to only finance up another $10,000.00 to get the bare bones of the Cracked Cauldron open. ($20,000.00 would be nice.)
Quite a difference from the $180,000.00 we were seeking just six months ago, eh?
Things haven't gone as smoothly as we hoped for, but conversely, things haven't gone as negatively as we'd planned for, either.