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Old 05-24-2007, 09:27 AM   #51
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Wow! Congrats on the deal of a lifetime! Best of luck!
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Old 05-24-2007, 09:27 AM   #52
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congrats!!!!
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Old 05-24-2007, 09:39 AM   #53
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I remember that building being a private mens club back 20 + years ago.
Can't quite remember the name it was though, thinking the Carlton
club or something.
That sounds right. I remember the name "Carlton Club" too.

That's a prime site nowadays. The after-work business crowd alone could be substantial. All those office types cooped up all day in the Trizac tower, TD center, Richardson bldg etc have to go hydrate somewhere. :D

A fine score for sure.

Good luck with it SD.
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Old 05-24-2007, 09:42 AM   #54
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What city is that, I was always under the impression that you lived out in the middle of nowhere (which is where i'd love to be).
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Old 05-24-2007, 09:46 AM   #55
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That looks fucking sweet. Congrats to you, Scott! xoxo
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Old 05-24-2007, 09:48 AM   #56
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That is awesome
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Old 05-24-2007, 09:56 AM   #57
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sweet deal congrats
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Old 05-24-2007, 10:05 AM   #58
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best part is the guys who renovated the bar have a 2 year lease. if the bar works - and last two weekends it's been lined up around the corner filled to capasity, they're fucked in 2 years LOL i can either TAKE the bar or put their rent though the roof.

although I'll probally be fair to be honest, I'm not about destroying someone else if they made something but it gives me a LOT of leaverage with the tenent so they'll play by MY rules and not the reverse.

mooooooohahahahahahahahahahahahahahahahaha
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Old 05-24-2007, 10:08 AM   #59
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wtf for a building like that in a big city around here the prize would be (a guess) about ?5 million or something if it aint alot more!

the commerical apprasial company I used said if I can rent out the offices I plan to put in to 70-80% capisity the value goes to 1.5 mill almost immediatly. basically after reno i double my money.
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Old 05-24-2007, 10:12 AM   #60
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$550K

bar put in $400K in reno before they opened LOL

bankrupsy sale
Lol..... Nice catch!!

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Old 05-24-2007, 10:27 AM   #61
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What's the average life-span of a bar / club in Winnepeg, 5 - 6 years?
my business plan only hopes the bar makes it 6 months. i can do it even if the bar goes under tomorrow but 6 months would be nice - anything after that is a bonus. bars don't add much to an appriasal, too unstable but multiple small office rents with a shared receptionist are VERY stable as you'll never loose ALL your clients - stability means VALUE. if i remove the bar and put offices down there too the value would goto well over 2 million
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Old 05-24-2007, 10:28 AM   #62
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you are the coolest
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Old 05-24-2007, 10:28 AM   #63
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$400k in rent per year, and the bar didn't bother to pay $550k to buy the building? Sounds like a stripped down version of the story...
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Old 05-24-2007, 10:32 AM   #64
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$400k in rent per year, and the bar didn't bother to pay $550k to buy the building? Sounds like a stripped down version of the story...
3 late 20's kids and they ran out of money. already leaveraged to the MAX with the reno. they were CRYING they couldn't buy the bar - crying.

banks won't touch bars here with a 10 foot pole. I ran into the same problem getting financing. most bars go under in less than a year.

my business plan only hopes the bar makes it 6 months - anything after that is a bonus

had to use private financing.
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Last edited by SleazyDream; 05-24-2007 at 10:34 AM..
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Old 05-24-2007, 10:37 AM   #65
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$400k in rent per year, and the bar didn't bother to pay $550k to buy the building? Sounds like a stripped down version of the story...

you read it wrong.

$400K in RENO done.

bar pays $7600 rent a month or just over $90K a year rent
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Old 05-24-2007, 10:39 AM   #66
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Congrats Sleazy, best wishes making the most with the new property.
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Old 05-24-2007, 10:43 AM   #67
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congratulations and goodluck SLeazy!!!
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Old 05-24-2007, 10:50 AM   #68
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very awesome , Good Job
Cheers to you
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Old 05-24-2007, 11:05 AM   #69
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Sleazy... did you actually type "great location" and "Winnipeg" in the same sentence?

LMAO!!!

(congrats though)
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Old 05-24-2007, 11:06 AM   #70
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Nice building - congrats
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Old 05-24-2007, 11:13 AM   #71
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Holy fucking shit, Real estate gold mine. Dude who is your real estate agent? I want him or her working for me.
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Old 05-24-2007, 11:28 AM   #72
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Sleazy... did you actually type "great location" and "Winnipeg" in the same sentence?

LMAO!!!

(congrats though)
this from a man who lives in a city in north america that doesn't speak english
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Old 05-24-2007, 11:49 AM   #73
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very nice and they comfortable to hang out too.
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Old 05-24-2007, 11:49 AM   #74
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Old 05-24-2007, 11:55 AM   #75
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Congrats Sleazy, now you can buy EVERYONE a lapdance
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Old 05-24-2007, 11:58 AM   #76
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best part is the guys who renovated the bar have a 2 year lease. if the bar works - and last two weekends it's been lined up around the corner filled to capasity, they're fucked in 2 years LOL i can either TAKE the bar or put their rent though the roof.

although I'll probally be fair to be honest, I'm not about destroying someone else if they made something but it gives me a LOT of leaverage with the tenent so they'll play by MY rules and not the reverse.

mooooooohahahahahahahahahahahahahahahahaha
Dude I can see it now... Chez Frenchy, where you eat like a healthy King ;-)

Seriously bro congradulations you sounded stoke on the phone yesterday
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Old 05-24-2007, 12:09 PM   #77
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Excellent purchase Scott! What a bargain you found.

Congrats man.
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Old 05-24-2007, 12:17 PM   #78
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Very exciting!! Congrats Scott that looks like a HELL OF A DEAL

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Old 05-24-2007, 01:09 PM   #79
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you read it wrong.

$400K in RENO done.

bar pays $7600 rent a month or just over $90K a year rent
Nice cash flow
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Old 05-24-2007, 01:12 PM   #80
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Congrats glad the deal went thru for you.
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Old 05-24-2007, 02:20 PM   #81
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Wow, congratulations, Scott! That looks like quite a steal!
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Old 05-24-2007, 02:26 PM   #82
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Congratulations Scott, sounds like a really really good finantial operation, plus there is something about owning a bar or a club Can't wait to see it!
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Old 05-24-2007, 02:32 PM   #83
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Wow! That's fantastic Sleazy congrats!
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Old 05-24-2007, 07:00 PM   #84
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Congrats Sleazy, now you can buy EVERYONE a lapdance

been there before.......
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Old 05-24-2007, 07:10 PM   #85
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Congrats! What a great move.
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Old 05-24-2007, 07:14 PM   #86
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Can I get in free if I visit?..congrats on the investment
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Old 05-24-2007, 07:17 PM   #87
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wow, very nice
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Old 05-24-2007, 07:19 PM   #88
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No matter how you slice it, $23/sq ft. is a steal.
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Old 05-24-2007, 07:20 PM   #89
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Kickass!
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Old 05-24-2007, 07:22 PM   #90
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congrats and best of luck
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Old 05-24-2007, 09:23 PM   #91
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congrats for a nice looking Bar!!goodluck to you man...
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Old 05-24-2007, 09:35 PM   #92
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congrats! wish i could go there
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Old 05-25-2007, 11:00 AM   #93
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congrats Scott!! I'm so glad you went for it! We'll have to have a drink there when we come up for the festival!!
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Old 05-25-2007, 11:29 AM   #94
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Bad Ass!!!!
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Old 05-25-2007, 12:06 PM   #95
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Most Excellent Investment!

A huge commercial building for less than a house.... Sweet
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Old 05-25-2007, 12:59 PM   #96
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WOW!

Congrats!!
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Old 05-25-2007, 01:17 PM   #97
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been there before.......
Right, but endless supply now free of charge

Im sure it can be worked into the lease ... You are leasing the club out right?
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Old 05-25-2007, 03:38 PM   #98
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That sounds right. I remember the name "Carlton Club" too.

That's a prime site nowadays. The after-work business crowd alone could be substantial. All those office types cooped up all day in the Trizac tower, TD center, Richardson bldg etc have to go hydrate somewhere. :D

A fine score for sure.

Good luck with it SD.
Wasn't the Carlton Club on Fort St?

Congrats on finding a great deal Scott
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Old 05-25-2007, 10:44 PM   #99
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putting in my office and space to rent other offices out in the 2nd level. Right downtown and one street over from portage and main. great location.

Some of our customers are your neighbors. I think we can deliver the fastest symmetric Internet connection in the city to your new office. We'll talk ...
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Old 05-25-2007, 10:45 PM   #100
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101 great buys :-/
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