Sounds like you might be better off in a unit property trust or something like it.
Better to go alone, maybe some reno flips, if you want to grow personally and financially.
Cheers
thecrest

Sounds a bit like a motel operated by separated partners living offsite or something. Very confusing.
Cheers
thecrest

Hi jphoth.
Would you mind posting an update here later n let us know how your sale is progressing ?
cheers
thecrest

I don’t think you can keep the info out of LPI such as a “last dealing” info request which cost me about $15 last time I bought one online.
It provided the sale price.
Cheers
thecrest

Great post, excellent idea and very useful.
cheers
thecrest

Hi JPHoth
Valuation between $3-$5K.
Legals $3-5K.
Lots depends on how smooth the banks move.
Stock at value incl all liquor, food, room amenities, equipment maybe.
Allow for settlement adjustments for all utilities, subscriptions, ads, rates.
Some slow payers like wotif only settle 16th every month, expect loose ends.
We’re still sorting out loose…[Read more]

Welcome to capitalism. When some company makes enough money, there is a job for an employee.
Work hard, build reserves, you’ll get there.
Good luck
cheers
thecrest

Hi Bumskins.
Glad you mentioned that so I had to re-read the first few posts from John.
The rents have been increased to more than cover the costs of utilities, so the landlord makes a profit there,
and because the utilities bills tax deductible for the landlord, he makes a profit there too.
Nice thinking, I like that.
Cheers
thecrest

Hi & welcome to the forum.
Saving for a deposit is the litmus test for investors.
It tests motivation, patience, determination, money skills, discipline, goal setting, . . . . .
It’s not easy so many fail.
It requires you to adopt the principle of delayed gratification – save now enjoy later.
Sounds like you’ve reached a fork in the road.
I wish…[Read more]

Here is how these problems start. REA did not handle the tenant complaint problem either themselves, did not report it to the owners or to the BC. PM is poor communicator so is not professional.
It also appears the owner heard about the problem once, but they don’t say when or from whom. So they knew about it.

Quote from Andy Donnelly :

. . .…[Read more]

If the tenant reported the complaint to the original property manager, then the PM has a duty to attend to the problem somehow on your behalf.
Did the PM fail in their duty to do that ?
Did the original PM advise you of the problem ?
Did you fail to attend to the problem when the original PM reported it to you? (like referring it to the BC)

Sorry…[Read more]

Good one Freckle, gas bagging. can’t wait for peak hour.
lol
cheers
thecrest

Hi Xavier01.
Your skills would add much to a “low tech” motel – one that has been operating without a good website or strong internet presence.
Perfectionism is a hard slave driver but pays big dividends in hospitality, especially in areas of bookings details, repairs and maintenance, and room condition and presentation.
Attention to detail…[Read more]

Hi xavier1.
Welcome to the forum from me as just one of the many members here.
It might help others to help you if you could list some of your priorities or wish list such as :
Restaurant or not?
Price bracket
residence size required
star rating
holiday or business type motel
are you a couple in this venture
relevant skills

just some outline…[Read more]

Perhaps I didn’t make it simple enough, sorry folks.
The reason I chose to use a hypothetical example and said the magic words “all other things being equal”, was to create an example in which we could isolate only one single aspect of a property and examine its effect on valuation.
So I was only looking at the topic – the effect of the solar…[Read more]

Are you saying that if a valuer were considering 2 investment properties which were side by side and identical in every way except one property returned $75 more rental per week because of reduced utilities costs, then the valuer would place the same value on both ?

cheers
thecrest

Hi Kristin.
You could increase traffic on your website with obvious benefits by making it a rich source of links to information which would appeal to your clients, rather than “writing books”.
Cheers
thecrest

I guess landscaping which is lasting and still making a substantial difference to the appearance and amenity of the place and is still there “in the long run”, will add value. Certainly established trees are more impressive and functional than seedlings.
Cheers
thecrest

Serviettes are as good as anything else, just get that great idea written down fast.
Ideas are priceless.
Cheers
thecrest

Steve McKnight got started with investing in Ballarat and may still own a number of properties there and be monitoring their progress, so perhaps he can comment on the current investment climate in Ballarat ??
Cheers
thecrest