Some first time questions

[Jersey]

Hello all,

I stated in my first post in the intro. section that I am thinking of opening a Hostel in europe. The real estate in Europe is nothing like here in the USA. I wanted to know if most hostels rent or own their buildings ? Also how do you come up with a ratio for paying this. It seems the bigger the building the higher the rent or mortgage.

A four room hostel with one common room and room for myself which costs 500,000 euro could possibly bring in 900 euro total if booked all beds 15 days out of the month. This is based off a 2,306 euro a month mortgage.. I just wanted to see if anyone had the same problem or tips on opening a hostel in a major european city.

All the best,

Nick