ATTN Investors: Keene could use a "Porc Manor", can you help?

[Russell Kanning]

prices are going down

I still think a great place for a porc manor is the old catholic church and rectory in Marlborough.

[Eli]

Are they for sale?  Is there a listing?

[dalebert]

I still think a great place for a porc manor is the old catholic church and rectory in Marlborough.

The numbers didn't work for just renting out rooms. One has to make it work by making money with the church building somehow. Unfortunately, there's not enough parking (like almost no parking) for that to be very practical. Even with the price dropping from 600k to 450k, it was still too high. There is also substantial expensive work that needs to be done that has to be considered, as in things like roofing.

[Friday]

I still think a great place for a porc manor is the old catholic church and rectory in Marlborough.

The numbers didn't work for just renting out rooms. One has to make it work by making money with the church building somehow. Unfortunately, there's not enough parking (like almost no parking) for that to be very practical. Even with the price dropping from 600k to 450k, it was still too high. There is also substantial expensive work that needs to be done that has to be considered, as in things like roofing.

If this is the place, the price is now down to $325K!

[FTL_Ian]

Sounds like they might take an offer.

Be warned though - Marlborough is a town that puts American flags on its roadsigns.  It's certainly not as cosmopolitan as Keene.

[David]

It doesn't even have to be very big.  Nothing like Porc Central.  The guy I rent from now, rents out 2 rooms in his house. 
To help with the project start up, if the rent is reasonable, (I pay 110 a week now) and in town, (keene of course), I would be willing to move to your place just to help with initial start up costs.    
Something to keep in mind if anyone is serious about this. 

[Kat Kanning]

If this is the place, the price is now down to $325K!

That's the place.

[FTL_Ian]

It doesn't even have to be very big.  Nothing like Porc Central.  The guy I rent from now, rents out 2 rooms in his house. 
To help with the project start up, if the rent is reasonable, (I pay 110 a week now) and in town, (keene of course), I would be willing to move to your place just to help with initial start up costs.    
Something to keep in mind if anyone is serious about this. 

It's good of you to offer that as it could make the difference for a buyer.  Multis frequently come partially rented, so having you move in would make topping off a multi quite convenient.

[dalebert]

If this is the place, the price is now down to $325K!

Holy crap...

I have entertained notions of making the church into a party. Goth would be perfect but I don't think there's much demand for that in Keene, unfortunately. However, there are a lot of college students and not much to do on weekend nights. So here's a thought I had. No parking and not walking distance from Keene, right? Well, how about a party bus? Imagine a van with a route between the church and some convenient spot near the college dorms. It's a great way to prevent drunk driving. It's also great advertising because the van could have logos painted or magnetized all over it as it drives around. It would probably become infamous. It should be marketed to people in town as a way to keep all the rowdy young kids from roaming downtown Keene on the weekends.

I love the idea but I'd be more than a little nervous about taking on such a task on my own. Also, I can only qualify for loans on commercial property. If it's possible to cover the mortgage ($325) and expenses with just the boarding house, that would buy us time to start making something happen with the church. It could be a party place on the weekends at night and there might be some potential to actually rent it out for events at other times. Again though, serious parking issues... I would estimate the place also needs between $50k and $100k in repairs. I'd definitely walk a qualified builder through before making an offer.

BTW, there's an antique pipe organ in that place that kind of blew my mind.

[Kat Kanning]

Ya, Kira was jonesin' to play that thing.

[Russell Kanning]

when it was $600,000 ... we offered them something like $1,500/month for 50 years .... and the realtor basically laughed at us. Now he lost the listing a year ago and it is $325,000. They have been paying to heat the place for 2 years since our offer. The place is owned the catholic church, so it isn't like they are carring a mortgage. I don't know why they wouldn't take alternate financing.

There was nothing really wrong with the place 2 years ago. It will need work over time, since the place is 100 years old. We were going to call it the Marlborough Chapel.

[Russell Kanning]

Be warned though - Marlborough is a town that puts American flags on its roadsigns.  It's certainly not as cosmopolitan as Keene.

and Keene isn't Americana all the way?

[Russell Kanning]

It doesn't even have to be very big.  Nothing like Porc Central. 

the bigger the better
the price per room rented out goes down with size .... plus many people are not ready to take on a bigger project

[maulotaur]

I have entertained notions of making the church into a party. Goth would be perfect but I don't think there's much demand for that in

After actually going there and looking, I would probably have to agree with that statement now.

-Paul