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Mick
Participant
@motelmingle
Join Date: 2010
Post Count: 7
July 24, 2013 - 10:27 am
Yes totally agree with Qlds007 and Terryw.
The problem I see here is that motel leaseholds are a business and not bricks and mortar therefore can not be borrowed against with a SMSF. However if you decided to go the other way and purchase a motel freehold, the rules change as you actually have bricks and mortar to borrow against.
Check with the ATO and i am sure they will point you in the right direction.
Cheers
Mick | Motel Mingle
http://motelmingle.com.au/
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Mick
Participant
@motelmingle
Join Date: 2010
Post Count: 7
September 1, 2011 - 4:28 am
Hi JJMB,
I am a Motel Leasehold owner and happy to answer any questions you may have. I was very raw when I purchased my leasehold, and learn t very quickly by asking other motel owners. You will find other owners are happy to talk to you as they also gain new insights to the way others run their motels.
If you need any experience and willing to travel to Far East Gippsland, we may be able to work something out for you.
You can get alot of info from "thecrest" just click on his posts and read the comments. I am sure you will benefit. He has been a great help to me in the past.
cheers and good luck.
Earlstongardens.
Mick | Motel Mingle
http://motelmingle.com.au/
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Finding Answers! Sharing Ideas! Solving Problems!
Mick
Participant
@motelmingle
Join Date: 2010
Post Count: 7
August 23, 2011 - 12:56 am
Totally agree with both Kaylah and Scott No Mates comments. Paying extra attention to Scott No Mates comment of "Is it an open or exclusive agency agreement (ie can you sell it yourself or is the agent still entitled to their commission? "
If you have not signed any exclusives and you are willing to advertise and sell the land yourself, a great new site is http://www.sellnoagents.com.au
The listings are totally free and excellent exposure is on offer for people who wish to advertise their own real estate or property for sale. I have listed my motel leasehold for sale on this site and the inquiry level has definitely increased. I believe the sale will come from this site first before any of the 6 business brokers I have also listed with.
Time will tell and wish you luck with your sale.
Mick | Motel Mingle
http://motelmingle.com.au/
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Finding Answers! Sharing Ideas! Solving Problems!
Mick
Participant
@motelmingle
Join Date: 2010
Post Count: 7
August 16, 2011 - 5:14 am
Although it is a very new site, sellnoagents.com.au is a site offering advertising for owners to sell both their real estate and businesses. It's a nice looking site and will be a great place to pick up some bargains when it gets going.
No cost to the advertiser and no commissions on the sale means very good bargaining opportunities……
Mick | Motel Mingle
http://motelmingle.com.au/
Email Me
Finding Answers! Sharing Ideas! Solving Problems!
Mick
Participant
@motelmingle
Join Date: 2010
Post Count: 7
November 12, 2010 - 4:44 am
Hi Crest,
We currently have a leasehold in country Victoria and are contemplating selling the leasehold or running it under management.
Just wondering if you could steer us in the right direction as far as paying the managers, such as contracts of numeration and duties.
regards,
Earlstongardens.
Mick | Motel Mingle
http://motelmingle.com.au/
Email Me
Finding Answers! Sharing Ideas! Solving Problems!