Quote:
Originally Posted by Lakenutforlife
As a full time resident for several years, I had the pleasure of enjoying my frequent visits to Sam & Rosie's Cafe for morning coffee and treats or the occasional breakfast. The attractive family and local atmosphere they created was unicque and can never be duplicated by the Mug. The sad thing is that they had to go through several variances and town exceptions to even receive town approvals to run their business as a full fledge restaurant was not allowed in that location with Town zoning. Furthermore, they invested a lot of money into the location to improve the original inside decor and structure. Of course the greedy landlord has seen their success and is now demanding more rent even during the continued times of a recession and struggling economy both local, state and national. May he suffer for his greed and action to demand an unaffordable increase that Rosie could not continue her lease and business. Furthermore, the Mug has never had good ratings since there arrival in Center Harbor. Their Meredith location is of a totally different atmosphere and clientelle than the needs and customers Sam & Rosie attracted to their business in Center Harbor. The Mug may steal their location but they will never be able to steal Rosie's success in that location and the memories created for so many patrons. I hope the Mug fails big time in that location as they certainly deserve failure along with the landlord. Hopefully the Flooring place decides to relocate to create more empty space. Apparently, he is so out of touch with the current times. You have a great family Sam & Rosie and I hope you are able to continue your venture in a new location soon. I really hate to see you move to join the overabundance of restaurants in Meredith however there is very limited breakfast selection besides George's. Quite frankly, the Zach's Pizza location seems like a "drive by" location and too much hassle to stop with all the traffic on Route 25 in Meredith. Best wishes to all of you for the holidays and New Year.
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Although your post is meant to be one of compassion and sympathy, it is quite the opposite. "I hope The Mug fails big time, along with the landlord, as they deserve failure"????!!!! REALLY?
I am sure I will be villified for this post, but whatever...
The landlord did not buy the property to be warm and fuzzy...to be a do gooder...to spread love and cheer...guess what? he bought it TO MAKE MONEY. He may indeed have gambled, mortaged his and his family's future, to take a shot at the good life, bought some commercial real estate, and needs it to turn max profit. Possibly he owns several properties, at at one time his arraigment with S and R was satisfactory...but maybe now some are vacant, and he needs to max out where he can. There are a million scenarios.
Perhaps S and R could have offered to buy the property. And therefore assume the risks.
This post is near and dear to me...we own 3 rental properties, and 1 has been vacant over a year...I am carrying it as best I can, but am well behind.
I had a chance to more than double my income, with a new tenant (hint: Donut Company) on the best of the 3 properties when their lease matured. More than double it! Which would have helped me with the property that is vacant (mortgage, heat, electricy, insurace...you'd be surprised what it cost to insure a vacant building, not an easy thing to do) . Anyway, under immense pressure, socially and morally, I agreed to renew the current tenant, with a modest 10 percent increase, and give them 3, instead of 2, years. With the other tenant, $$$ would have never been an issue.
Guess what...the renewed tenant has not paid me in 3 months (Oct Nov Dec), with a 4rth now due. I approach it with a smile, and a "please...do something for me." He replies with a stack of bills, and saying he just does not know where the customers have gone. And, of course, I reply with "What's with the 2011 Ford Explorer he is driving". So, I continue to grind away at my 45/50 hour per week job, to pay everything as best I can.
lakenutforlife...buy some properties, and then post opinions like the one you did. IT'S GOOD FUN!
Wrote this post Saturday...now it is Sunday morning...in the interest of full disclosure, I need to add something. I wanted to make my point yesterday, and think I did...but I should add that the tenant in the prime retail space has indeed often run 30/60/90 days out, and always makes good. Always. It is just that, knowing that I passed on a much better deal, I was hoping that I no longer would have to finance his business for him, during rocky times of year. I mean, it's not like I get something extra during the "fat" months.
Anyway...felt bad, portraying the guy as a stiff. He can be slow, but always squares up.