Hi BonnieAvoid the one stop shop where you buy a property, finance, and whatever else all in the same place.Talk to Richard who has the runs on the board in this Forum and has helped so many.Lay out all the jig saw pieces until it makes sense, then run your decisions and ideas past more people before making a decision.Good luckcheersthecrest

Dear Angel. Your tribute to Tim is also a special gift to us all, thank you for sharing it and for the wake up call reminding us of our true wealth. The strength you have shown through your investment journey you have shared with us, will help you through this sad time. May the time pass quickly. With deepest sympathy.thecrest

Terry's sooo right, better to stick to democracies where you understand the language and actually have rights and justice.We lost our shirt in the idyllic South Pacific and discovered why so many places are aptly described as a graveyard of entrepreneurs. Australia is a fantastic land of opportunity  – the grass is very green on this side of the f…[Read more]

Hi ALSKThere is provision in the Residential Tenancies Act for a person who has been living in premises for some period of time to ask a Tribunal for an order that his tenancy be recognised.Since you have been living there with the landlord's / REA's knowledge, they have been dealing with you already and accepting your rent money.In simple…[Read more]

Legend.Cheers    thecrest

How are you supposed to make money out of it ?cheersthecrest

Hi ShellHPersonal opinion and suggestions.Positives.Ad says next to parkland, BIRs, split system air con gas heatingNegativesphoto shows a window rattler, not a split, rattlers are not popularvery bareno internal shotsunemotional ad (could say "ready to add your own touches" , or  " add your own garden " no mention of kitchen or bathroom f…[Read more]

Hi KateSuggestions  for your first property and considering the high return, you deal with an agent. Shop around Orange, cut the best deal you can find and over $500 pw rent  suggest you try to restrict commission to 6%  and 50% of first week's rent since they're making enough for very little effort since you already have a tenant  for them and…[Read more]

Hi JackI don't think the house prices in Bathurst reflect the high returns possible from mining guests, yet.The market in Bathurst caters to others mainly , but mining people don't have time to spend searching, they need it now and every week.  Cheersthecrest

Suggestion.If I was renting to the mining market, it'd be like this :Fully furnished3-4 brms 2-3 bathroomshuge gas HWS system(s)Gas ducted heatingR/C split system air con to every bedroom & common rooms like loungeBBQ & deckTurn lawn into parkingHi Speed wi-fiBig flat screenBeer fridge in the garageThe mining guests are mostly guys, want comfort…[Read more]

Thanks Angel, you're very kind, inspirational and energising.Cheersthecrest

High praise to some people here from me :Nathan for starting and fuelling this excellent postAngel for explaining her journey and success, inspirational, (I'm going to chisel SWIM into stone and give it to my kids)Richard for his journey and insightJake for the absolute gem about eagles & turkeys – just being here amongst this esteemed lot is…[Read more]

Hi PatrickUni fills lots of rental properties especially early in the year. Near the uni is popular.Bathurst weather is extreme winter & summer. Most popular rentals are those with gas heating & roof mounted evap coolers as the cheapest most effective, then R/C aircon.Insulation very important.Windradyne is popular for tenants, see Ribbon Gum…[Read more]

Does anyone have the figures on this  ?  : What is the state average annual appreciation rate for houses and units in NSW over the last 50 year period ? The purpose is to have some average to use to crunch an investment scenario I'm working on.Any assistance appreciated.Cheersthecrest

Hi MalScott & Anthony have nailed it.Assuming you are talking about buying one unit, not the motel.Why would a motel sell off popular units ?If the motel is managing them for you, think about how or why this would be more profitable for them if you funded it instead.Exit strategy depends on desireability of the property which depends on CG & nett…[Read more]

Hi JakeI worked out $300 p.w. rent x 50 weeks = $15,000 rent income p.a. ,  allowing 2 weeks for costs of tenant in/out.$15,000p.a.  return on the property cost of $200,000 = 7.5% gross rent return on investment.It's 7.8% if you use a 52 week year.Is that what you mean ?Cheersthecrest

Hi NathanYes, welcome to the democratic side, no castles here, and there is hospitality.You mention $300 rent return on $200K = 7.5% gross rent return.What is the degree of difficulty or ease in finding these deals ?City, fringe or country ?Are you referring to a reno, facelift, weekend cleanup rental or what ?Some details along these lines may…[Read more]

The reverse cycle splits sound good, covering all seasons.Tenants won't line up to pay a good rent in a cold area for a poorly heated house. You might consider what a month or two of IP vacancy is worth plus tenant turnover plus your own comfort in the meantime.Cheersthecrest

I suggest you ask those who professionally value motels that excellent question.Hopefully their method of valuation should not differ too much from yours as a buyer.e.g. leasehold – period remaining, lessee's lease conditions, nett profit, condition of goods n chattels, current and future security of business.freehold – land value, nett profit, c…[Read more]

Hi ZaulPreserve that energy drive n enthusiasm, and use it to build a plan and some capital.You have opportunity, need to build on that.Good luck, go for it.Cheersthecrest