I found a pool house for sale a while back. It's literally what it sounds like. A small building with a pool, so essentially it's just a pool. I want to buy it up and convert it to a community pool so everyone can take advantage of it in the summer season. Thing is, idk of it would be wise at the moment to get it because of covid.
Do you think it would be a good idea to buy? Or should I pass?
Something like this would require more then just buying the property and bringing it up to code. You would need to hire staff, install security measures, and have a constant hand in your back pocket for insurance, electricity, and other maintenance bills. I don't think it is a good investment myself.
You would need to check into the rules and regulations of something like this. I think it could be a great idea to invest in something like this but the upkeep and management will eat into profits.
Is it s seasonal thing in your area or year round? I know some people will swim indoors all year but a lot of people don't bother in the winter months.
It sounds a little risky but if you have a good plan and know what you are doing, it could really pay off.
Personally, I'm staying away from big investments for right now until thee country is back to normal. I can't afford to lose a lot of money.
In this market, I would pass.
It is very iffy to go into a business that is season. Plus, the general cost of running such a place can be pretty costly from electricity to general pool care. I have a small built in pool myself and I spend around $1500 every summer to maintain it and for the electricity to feel it filtered. That is $500 a month.