Wednesday, January 19, 2011

Funding for the three R's

Which is in this case, the Russian River Resort, known as the Triple R. The Triple R has long been the anchor for LGBT events in the Russian River "resort" town of Guerneville, especially after Fife's ("Fifi's") changed management and began rejecting the community which made them successful. Ever since my relocation to the Bay Area as a baby gay, I have always loved the trips up to The River and the Triple R has always been the place to pool party (again, Fife's notwithstanding), and has served as a social support center to the rest of the vacation and B&B community around town. During the season, Guerneville can look like a town-wide sunny sidewalk cocktail party, and typically patrons are walking to or from, or at least dropping in at, the Triple R.

little guy working itPoor upkeep and financial issues have made for tough times for the Russian River Resort—so much so that the bank has chained and locked the doors and the Triple R is now up for sale.

Personally, I'd love to look at the appraisal for the property. I think with the proper management, renovation, marketing, and passion, the $1.25 million list price could be a bargain. But I'd need to know more about the market study and the expected NOI. It was enough for me to consider buying and running the place. That could be a lot of fun hard work. But I am a City boy. Here I stay.

No comments: