How to Build $7.5m in Net Worth by Buying a B&B

So. And so, so you've got a business that's generating 250 to 300,000 of what we call SDE. Well, actually, no, that would actually be EBITDA because you're, you're accounted for you operator salary and you're paying down a piece of real estate that is worth, we don't know what percentage of the seven and a half million, but that, that real piece of real estate I feel like is probably worth five…

I think that's a safe assumption. Yeah. I mean that's a wide range. 5 to 7. Admittedly so. But, but. So over 10 years of doing this, you've got 250 to $300,000 of cash flow that you can put toward retirement, whatever you know, save.

I'm no real estate investor, so there is a way to think about this from a real estate perspective. So I don't want to act like it's, it's, it's an amazing real estate acquisition. I can't really tell, but from where you were and what you were trying to escape to, what you, what you're, how you're spending the next 10 years, it seems like really a dream.

You will build real wealth here doing, being the captain of your own ship and earning great income. Not yet, but if you can hit those numbers, you'll be earning a great, just, just pure year to year income.

Yep. That, that's the goal. That's the hope, and that's what makes the, the long days worth it. And, and all of the sacrifices that, that are there.

That's. We're willing to go on that ride. Mm. Mm. Can I ask how old you are? I turned 40 this year.

Okay. So you, you spend your 40s doing this. So by the time you're 50, you may have a piece of real estate worth, with inflation and probably Growth in the real estate appreciation. That could be a 6, 7, 8 million dollar property then, and a business.

Wonderful. Good for you, Christine. Thank you. And it's just such a cool business. Right. It's different and unique, but fun and.

And there every day is different. And I know that's the same with a lot of people in business, but there truly is no, no two days alike. It's actually in. In small business land, yes, there are.

There's often chaos and unforeseen problems, but also a monotony to it, especially once the transition.

They're. An entrepreneur is on the other side of the transition and they're a year or two into the business. It can actually be quite repetitive. I'm sure there's an aspect of that for you as well, but because you're having such personal dealings with all the guests, it probably feels less repetitive, maybe less monotonous than other small businesses. Absolutely.