Hi Bobbs
PM worked fine. Sending material.
Formule1 owned by Accor do their homework. Their philosophy is choose a site which has the minimum level of traffic flow according to RTA & Council traffic counts, and must be near or next to food & fuel. In retail terms, they’re “category killers” and king of no frills, the vending machine of the…[Read more]

Hi Bobbs
Calling BANks conservative on motel lending right now is charitable and conservative in itself.
Just got right royally waltzed around by a BANk for over 3 months “building relationships” ,
oh yeah that’s a good one, then they shrink their LVR at the last minute so you don’t have time to use a competitor.

Appalling behaviour even for a…[Read more]

Hi Bobbs
As only one of the many Forum people, welcome to the Forum.

Glad you found some useful information. The Forum and others have helped me so repaying the cosmos works for me.

Information is our most precious commodity which we exchange here as freely as possible and if everyone contributes in some way then it helps others.
It sounds like…[Read more]

Here’s a link to an article written by a broker.
He says opinions vary, then gives his.
Rules of thumb must allow for various thumbs.

http://accomnews.com.au/management/150-motel-matters/844-splitting-up-a-lease-and-freehold

cheers
thecrest

Hi Jacko10
Thanks for the KPI info. Good phrase to have.

17 years is shorter than ideal, so cause for a lower offer.
30% cap rate for a leasehold is based on an absence of a range of negative factors which if present may detract from the desireability of the business and property, several of which factors are major or higher than normal…[Read more]

Can anyone tell me about Real Estate Investar as a search tool and is it worth the asking price?
I’ve seen it promoted and a small demo which was interesting but it was a sales pitch and I’m a sceptic.
Anyone out there using it or has used it ?
OR Nathan Birch’s “Deal Finder ” search tool ?
Any info appreciated.
Cheers
thecrest

Hi Teabag.

Sorry I don’t understand the term “KPI” .

Don’t do bonsai but admire them, it was a meaningful logo for us though (plant a tree, eat the fruit, not the tree).
Haven’t been to Como for years, but loved Blue Heelers.

There are a few other ways of motel investment and some typical returns are listed :
Tenant/Leasehold owner – operate…[Read more]

Sounds like it would make a good “car bra” and look better than those typical black mat type car bras.
If a complementary colour or signwriting was used on that car bra area, that would look good and minimise stone chips.
Guess you only get stone chips in rural areas though, where we spend a lot of time.

cheers
thecrest

Here’s someone who’d know – this guy helps people and deserves a plug. Anthony Daintith in Orange.

Home

cheers
thecrest

Does that stuff come off and does the paint survive the removal ?
thecrest

It’s usually a good policy not to pay the ferryman til you get to the other side.
Cheers
thecrest

Hi shellanddaniel.
What is the agent doing exactly?
If the house is “fully renovated” we assume the agent is trying to list it too cheaply.
Use another agent, and ensure the property is presented in it’s best state.
Let the agents know that if you move quickly, you can make more money on another opportunity and can share some of that
as extra…[Read more]

Hi All
Have any of the posters here got an update of their progress in this area of investment ?
Info shared is a blessing for all concerned and part of our education process,
always appreciated.
Cheers
thecrest

Re Finance for motels, I’d be very interested also if any brokers could shed some light on current lenders in this area.
Any info would be most appreciated.
NAB appears to be crying increased risk since last week’s economic shakeup. Any excuse.
Cheers
thecrest

Hi JJMB.
You’ve mentioned some good ways to get started already.
Talking to moteliers is prime networking and essential.
Searching this forum for postings about motels will help.
There is definately a lack of information and no advisors
except those selling you something.
I’ve spent a long time posting as much motel material as I could on this…[Read more]

Hi Jacko10.
Without knowing other details of the leasehold, on face value it is overpriced at ROI 24% ( Nett $170K is only 24% return on cost price of $720K ).
30% is more like the market rate, so price should be more like $570K, provided it is in good condition, minimal maintenance, reliable income etc. (remember school groups are low tariff but…[Read more]

I dealt with Elders Breust, cnr Edwards & Fitzhardinge Sts. Mary Fitzgerald was an excellent PM – then she moved over to sales, but should be able to introduce you to the right person.
Good luck
Cheers
thecrest

Have a go at the REA, nothing to lose, might get lucky. At least it brings the REA to the notice of the authorities.
You never know what else they might find.

Last time in tribunal, I defended my tenant daughter against a totally unscrupulous landlord and a worse REA.
Didn’t get a fair shake in Tribunal but reduced their claim from $3K to about…[Read more]

Hi Shellanddaniel.
Nice area Windradyne, had family living in Ribbon Gum Place. Moved into CBD, handy but noisy.
PM me a link to your property if you can. I visit Bathurst regularly.
Cheers
thecrest

Hi Henry
Suggest you look in the right hand column on this page, click on “1 on 1 Property Mentoring”.
Worked wonders for us.
Cheers
thecrest