Author: SunnyBabe (85.214.115.---)
Date: 06-23-10 04:29
Well I guess it's true Michie B's closed, couldn't pay the rent because there was not enough business. that is a shame because on trip advisor Michie B's was getting good ratings. I think they are a young couple who moved here from the states.
They are not the first ones to be disappointed. Something is terribly wrong there and I don't think it's the local thing anymore. Why would you bring in a stateside
chef(s) when there are chefs everywhere in Puerto Rico looking for work.
A Culebra real estate broker says part of the problem is the management, a Mr. Busch. If it is true that he terminated the lease on the restaurant due to lack of payment, then that seems to me to be very shortsighted. If the problem is rentals then the answer is rentals, a rental percentage of 30% is highly exaggerated, it supposedly is less than 20%. By cutting off the Restaurant that would further impair the rentals I think. Plus wouldn't it also impair the sales or re-sales. The bank supposedly has 50 units they can't sell. I think they should have given anyone who was willing to stay a good deal till things got better.
Alberto I do feel sorry for you, I think the place is headed for trouble again, and I agree that's not good for anyone. By the way my real estate friend said the pool
bottom was described as slimy by a recent guest. My local business savvy friend said you property owners should sit down with the bank, you are all in the same position and bargain or barter away some of the unsold units for a professional management company to come in there and straighten it out, even on a temporary basis. He assumes no one is going to want to invest anymore at this point.
I think you need a Community Public Relations specialist, someone who can set up meetings with local businesses and put all the cards on the table, ask for their advice, they know Culebra rental patterns and profiles better than you. I'm in Calif now, email me if you like, I'll be back in S.C. in about two weeks and I'll give it some more thought.
Also continuing on this board isn't going to help anybody.