Hi Jose,

I have jumped into PI buy buying Three Serviced hotel apartments one after the other. I have found it a good stepping stone with little to no worry. The second unit was a 20 year old building, at first I was worried but for the last 4 months it has been unbelievable! the other two I have to wait until the a year has passed so I can sell them (capital gains tax) But I am eager to invest in the second hotel again. It sounds good when you say you own three hotels! Especially if they are on Mayfair!!!

Now the worry. A couple of weeks ago I got a bill from the Darwin Power and Water company, now with these you only pay Rates & Corporate Body Fees, well now I got a water bill as I had 1 unit in this complex. The bill was for $41,000.00 [dead2]. What the & I currumba ?? I found that the owner/corporate body manager had not paid since 2002!!! So as I and others owned units in the hotel, we were responsible for the bill. But apparently if we can prove in a court of law that we have been paying the BC we can be cleared (??). But he has since coughed up most of the money. A bit scary.

But saying that the bank still wants to give me more money. But as well the NAB (can I mention them??) will not lend me any more for hotel units, I can not work it out as they can see that they are making money! Maybe they don’t like that!

Hope this helps.[cap]