Hi Pumkin.
Are u still interested in a hotel motel in the Bathurst area ? I'll be doorknocking hospitality properties mainly motels in Bathurst and Orange soon so I could keep an eye out for you.
I don't deal in hotels because I don't have any expertise in that area of business but I'm in the information flow when I'm prospecting if that's any…[Read more]

Ask some of the truck rental companies near your goods if they have any "ferry drivers" they use to reposition vehicles from one way rentals.
Freckle has it too.
Lift back trucks are great.
Cheers
thecrest

What are the ongoing costs monthly or annually to have a SMSF please ? and are most basic accountants competent to manage one or is it better with a specialist ?
If with a specialist, I'd want my accountant subbing the specialist so to speak and keep my trusted accountant in the loop. What do you think ?
Cheers
thecrest
 

We've done 6 bathrooms in our motel during the last 12 months.
Full strip and jackhammer out the floor. No plumbing changes. 
Remove all walling and flooring and cornice. 
Waterproof seal, tiles to the cornice, wall mounted 900 vanity ceramic top, fixed pane glass shower, lights, big tiles, painted ceiling and cornice, skip & removal, brm carpets…[Read more]

The tenant has breached your "outside" condition and your PM has overlooked the breach and wants to condone it.
If you want to agree with the PM, instruct the PM to get it in writing and signed by the tenant and cover yourself for additional damage, esp to carpets and doors etc.
There's a big difference in what damage is allowable as "fair wear n…[Read more]

Hi Whitehousemax.
As just a member of this Forum, I suggest you please explain but observe the Forum guidelines in doing so. 
Cheers
thecrest

Ho Corey.
3 yr term.
Cheers
thecrest

2013 Calendar year was a mixed bag for regional moteliers with political unrest and coal prices the culprits.
Hoping the next 12 months will be better for them all while some just cruised right through without any changes, depending on
the strength of their location and their market. RBA has helped, another cut would be great but the consensus…[Read more]

Hi Paul n Marn
How's the motel purchase going and can u post a bit for us as an update ?
Hope you're doing very well.
Cheers
thecrest

CBA IO loan $750K against motel lease 5.7%  –  is that competitive ?
Cheers
thecrest

Fools gold, sorry.
good luck
cheers
thecrest

Discuss rent levels of your property with your PM.  Compare it to other properties and ensure its rent is at the level of market rent for that property with a meter, whatever that is.
A tenant may argue that the rent level without a water meter was already a bit high and likely inflated a bit to cover water (illegal but arguable) but they accepted…[Read more]

In say a block of say 16 units for example where it's 4 levels or 4 on each floor, if you're merging 2 on the ground floor,, are the engineering issues major where you'd be opening out a dividing wall perhaps to create a larger flow through lounge room for max view  ? Assuming the wall is structural – is this a def no-no or can it be done without…[Read more]

Several banks have told me over the last 2-3 years that a residential property or equity  in one can be used as security for a commercial loan, in particular a loan to buy a motel freehold or leasehold, and in doing so would only attract residential % rate.
Is that still the case in the current experience of the Forum's finance brokers ?
Would the…[Read more]

Hi David.
Have you assessed what's on offer with your local competitors and how you could improve your accommodation offering to increase the rent and occupancy ?
Suggestions .
Convert to furnished serviced apartments with external signage and rent online..
Furnished student accommodation.
Refurb and go upmarket.
Might be a simple answer to…[Read more]

You either need a bigger margin or the tenants pay their own utilities – they're more frugal when they pay their own utilities.
Check with Dept Fair Trading or RE licencing body in your state on what kind of RE licence you need, some are quite easy.
Cheers
thecrest

So which one is tax deductible ?

smartcube wrote:
 . . . .this is not for an investment.this is for my living.

Spoil yourself, get carpet throughout and tiles in wet areas like bathrooms n kitchen.
cheers
thecrest

Hi BomberRoui.
The REA needs to be able to show the buyer where the property boundaries are for the property he is selling.
Pretty basic stuff for a REA, especially if it requires the expense of moving fences or moving anything else and involves neighbours.
Subdivision would require a survey. Request a copy.
If no-one can show you where the…[Read more]

Qlds007 wrote:
. . . . this year my partner and I are trying to make 100 equity millionaires. . . .

Hi Richard.
Would you pls PM me about this.
Cheers
thecrest