Hi Richard.
Is that a typo  ?       "  I don't think you can go far by joining in the forum banter and discussion  "

Cheers
thecrest

There appears to be some demand for a good mentor. Hope a good mentor notices and uses the opportunity to genuinely help.
There are some bad actors out there in mentorland, tread carefully everyone, do your homework on people even more than deals.
Success to you all.
Cheers
thecrest

Hi Sebastian.
You've started your journey, and this Forum is rich with knowledge and good people willing to share it.
All the investors here know how to succeed, NHG nailed it too, read read read. If unsure of a strategy, work on motivational and general basics in the meantime with
books like Rich Dad Poor Dad, Think & Grow Rich. Read what…[Read more]

Hi Darryn.
Thank you for the additional information.
As a family group operating a motel, you have an excellent skill set which should impress any lender, and certainly has the makings of a successful group.
Lenders usually favour freehold over leasehold as better security, while leaseholds usually provide higher cash flow returns.
But if the…[Read more]

Hi Darryn.

Good finance question. " is it possible for me to get a loan for this with the equity i have in my house and with me renting this house out.  "

You really need the opinion of one of the finance brokers
(who I don't mind saying are kind enough to provide endless hours of help on this Forum
to many grateful newbies and investors)  and…[Read more]

Hi Steele Blade.
Parks. We've run 3 parks. Depends on how they're structured, like holiday only , or retirees relocatable park, or mixture of some permanents and casuals and tourists.
Usually more gardens & grounds work with a park, more outdoor work. Amenities block gets a workout, so too camp kitchens. Sleep with one eye open after a while. Shop…[Read more]

Depending what state you're in, ask TICA if you can subscribe to their database as a landlord.
BTW, my C2 likes your pic.
Cheers
thecrest
Cheers
thecrest

Hi Steele Blade.
Welcome to the Forum, members appreciate meeting new members and like to know a bit about you or your occupation or circumstances. People are always interesting. Then while you are receiving info and assistance, others can look to you for info and assistance when they know your occupation or area of expertise.

First, the usual…[Read more]

Newcastle Expressway from F3 to Branxton will have effects in the area so get on the right side of that situation. RTA estimates say 30,000 less cars daily on the New England Hwy through East Maitland and past Maitland as a result. Good for some, bad for others.
Cheers
thecrest 

Hi Kindren.
Very kind words thank you, but what's really warming is your success, congratulations on your purchase and we hope it increases. Sorry I don't recognise you from your Forum name or the details. Please PM me or give a hint, if you like.
Website looks fabulous, thank you for the link, makes you want to book in.
All the…[Read more]

Hi Purelle.
Shed or at least a carport for a car very important.
How's the heating ?
Aircon or evaporative cooler. ?
Good insect screens. 
HWS condition ?
Fences / pets ? Lots of rural tenants have dogs.
I'd fill in the pool.
Cheers
thecrest

Hi Royce.
Salary $137K and you're giving Dad $50 every 3 weeks, ?  well I spose it's the principal of the thing but I suggest you make it a coupla grand and start your journey on a better footing. 
If you're not sure where you're going and how to invest, Terry certainly has the expertise to make it as simple or as comprehensive as you need, but…[Read more]

Hi Tracee.
I'm a motelier with serviced apartments as well.
I pay all the expenses, including cleaning and finance costs.
If I could find someone to lend me 70% of the cost of each room or unit at 6%, who also pays the cleaning fees at double the true cost, pays me commission on the bookings, plus management fees, I'd be better off – it'd be…[Read more]

Hi Bacon.
Is the a/c working properly ?
Firstly, is it rated as big enough for the size of the apartment ? Are the filters and especially rotary fan blades clean and dust free ? It's amazing the difference in temp achievable when filters and rotary fan blades are cleaned, especially if they're partly clogged.
Cheers
thecrest

Hi Steve. Agree with Richard – talk to Jamie or Richard who have experience in loans and experience in securing loans from Banks, rather than trying to do it yourself. Banks love the inexperienced walking in alone.

Cheers
thecrest 

Providing prospective buyers with full financial information on a property is the agent's responsibility. If he hasn't got it, tell him to get it, it's an important expense.
cheers
thecrest

LeanneB wrote:
Hi the crest,
.  We have been told be a broker that the lease is given when an offer has been made on the property.  Is this the norm?
LeanneB

Hi LeanneB.
Not the norm, and not true. Suggest you deal with someone else.  The terms and conditions of the lease can affect the value of the leasehold so a copy of the lease should be…[Read more]

Good opportunity right now to assess how heavy weather affects motel properties for sale. Those unable to get flood insurance are at risk, according to the insurance companies.
If the motel is not covered for flood, then any interruption to business  or any other event attributable to flood is not covered. 
You wonder why some ppl ignore getting…[Read more]

Hi LeanneB.
Busy hwys go east/west, and go north/south. Where they intersect is a good start. The map will tell the story.
Some towns are destination towns if they have enough to offer, some are only through towns because they lack natural or man-made attractions. You can search for those figures from Visitor Information Centres in those…[Read more]

It's certainly comforting to know it takes at least 2 years. I'd definately want my broker to be as experienced as possible, grey hairs look good in this field, too much at stake. Nothing beats years of experience, so if you want in you've just gotta do the hard yards. Good luck.
Cheers
thecrest