Hi CarpeIt helps to be sceptical. The owner seeking to sell on leaseback wants to get money out, while enhancing the deal by being a tenant, but for how long? Why get out ? Tenancy pays, vacancy doesn't. Sometimes owners become sellers when they get a whiff of someone folding or wanting to leave. Landlords have more info , goss, intel, etc on…[Read more]

Hi DebskiBanks usually want 50% deposit for leaseholds, using cash or equity, reduced interest rates if using residential equity as security.CV/Resume showing ability to operate such a business is of interest to lenders especially in the current lending climate.The line blurs between personal outgoings and business in a motel so ATO deems an…[Read more]

What's the name and location of your company or organisation or self  ?Legitimacy and transparency always go together.Cheersthecrest

In NSW , landlords need a water meter for each tenant in order to charge for water.Some old flats and multiple occupancy premises have a shared meter for a number of tenants, which doesn't allow tha landlord to charge for water, at least not legally anyway, and without a meter, charges can't be enforced by Tribunal.. Need to get those meters…[Read more]

Welcome to the Forum which you joined 14 days ago, and welcome to your  first posting.Why don't you introduce yourself first, before just slapping something unsigned and anonymous on the "notice board", and howza bout you  tell us a little bit about you, and take it from there. ?  Otherwise it just looks to me like a suckers game of collecting for…[Read more]

Looks like a managed serviced apartment due to conference facility & restaurant etc. or perhaps a converted motel.Ad doesn't address the obvious questions about nett rent after management expenses, availability of income records, who manages, age, parking, .  Needs split aircon system in lounge and kitchen. Overall blurb Too brief. Presents OK…[Read more]

My suggestion is invite the local Catholic priest to "clear" the premises, conduct a service, bless the place, etc etc, they have various rites and ceremonies outlined in their service books, including exorcisms  – certainly any sensitives would find being in the house very distressing whether they knew its history or not. After all, it's the be…[Read more]

Problems present opportunities.It might mean you can buy either of the units cheap from a desperate seller.You can guess what those tenants are like at paying rent.If they are renters and the threatening type, complain strongly to the agent. If a tenant threatens a landlord, the Residential Tenancies Act in NSW takes it seriously and makes…[Read more]

I'm just a dummy around Council matters, but I reckon from a logical point of view, if you don't own the property then the DA is worthless, isn't it ? So unless you own the property, it's a moot point.Cheersthecrest

Hi JoshBrokers typically charge 3% to sell a freehold and 6% to sell a leasehold, negotiable as the commssion gets too big.Hi aofWhat are you going to do with the building ?If you are buying an existing operating motel as a going concern you pay no GST.Much due diligence required before buying a building for conversion into an accommodation…[Read more]

Hi DimitriBeen there. From someone who lost his shirt and clawed it back, congratulations on reaching the turning point of asking for help or advice.I would examine the who or what behaviour got you to this level of debt, and remove or change the behaviour otherwise you will bring that with you into your comeback phase and be doomed again.You…[Read more]

Passive motel investment returns currently around 9%, tenants pay all outgoings on 25-30 yr leases.Don't understand why anyone would buy commercial at anything less.cheersthecrest

Interview the target group at some location where they clump, and get it from the horse's mouth, or get the stats from someone like famous gun demographer Bernard Salt of KPMG.We are constsntly told of the large group of baby boomers hitting retirement and what they will want and need.With such a large well financed group and deteriorating…[Read more]

IMHO – Fair comments Marketwatch – not about property so it's off topic and way past any possible constructive or beneficial spinoff for forum members.I'm happy to request Admin to close this thread.cheersthecrest

Last time I spoke with an insurance company handling landlord insurance and tenant defaults, they required the landlord / PM to secure a Tribunal judgement and money order against the tenant. That is then handed over to the insurance company as a claim, the landlord doesn't have to do anything more, and the insurance company is in a position…[Read more]

Pyramid schemes are illegal in Australia. No high profile company could get away with operating a pyramid scheme in Australia for long these days, so work it out yourself. Recruiting methods used on us as a couple lacked up front integrity, honesty and transparency.However, the motivational material proved useful and the journey into and out of th…[Read more]

Don't know where the property is located. Tenancy laws vary between states of Australia and the recourse options will vary accordingly.Self management is a gamble, moreso at a distance. Contact the database TICA based in Concord, NSW, ask options. Used it extensively myself . Very good people. They had to fall into line with the recently t…[Read more]

Attn Moderator / Admin / AnyoneCan someone tell me what this Dubai post is all about ? My geography is not so good, is Dubai anywhere near Nigeria ?Cheersthecrest

Hi HelenAs just one of the mob here, welcome and hope the forum is great for you also.Just found out myself last month what a Town Planner does when not working inside a Council. I needed to find out how to change the title of a property from Strata to Torrens, and if it was possible in this case, then how to get plans drawn, estimate costs, get…[Read more]

You might price it several ways – render or  plaster. Render is tougher. According to one renderer I spoke to a few weeks ago who does a lot of heritage work, best to render with the gray stuff, then wait 2 weeks then add colour coat.  S'pose it depends if you're going to live in it or it's an investment property.Cheersthecrest