Forum Replies Created
This is a good post thank you David, Jamie, Richard and all.
Certainly most of those with negative gearing would like to change it to positive to enjoy that passive income and increase it.
I suggest for the benefit of others equally new to investing or looking to improve their negative gearing position, that you post as much material on here as possible before going offline, or do both.
Good luck with a great outcome David.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi NHG and lpool05.
You're most welcome, hey hope Tom Ryan enjoyed his stay Been in Fiji at the Best Western annual conference so was a bit out of touch last 10 days. I'll check with my motel managers in Wagga when I'm down there next week to make sure they applied the discount as I emailed instructions to discount the rate for any visiting forum members.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Is the economic collapse of the USSR forgotten already ?
For some it's the elephant in the room.
Capitalism works, the need to exchange time and effort for money drives people to go to work.
Centrelink doesn't seem to drive many people to work.
The capital seeks the labour, the labour seeks the capital. Old story.
Anyone who thinks the exchange is unfair, stay home.
Socialism suits those who just want a free ride, and was used very effectively in the past by political parties to exploit and incite the unsuspecting working masses to revolution, and the outcome, which was eventually a failure, was just a different group of fat cat all powerful chiefs but in drab outfits. Talk about exploitation !!
cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
NHG wrote:Use to live there and worked on the capital projects in the area. Have a flood map showing lidar analysis of the entire area on a cd somewhere which isn’t readily available to the public. If I can find it and figure out how to upload it I will..Hi NH.
Pls email it to me as well because I have a motel in Wagga and would very much appreciate the info to know more about our existing investment as well as future purchases.
BTW – Any forum members visiting and staying in Wagga will receive a special discount if they need accommodation at our motel called Best Western Ambassador Motor Inn.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Either you control who occupies your property with a process of
tenancy application / decline or accept /
lease /
or someone else will control who occupies it.
There is only trouble ahead for you by the sound of it.
It's bad policy to have somene in your property who is not legally responsible for damage, and that person is the illegal occupant.
My suggestion is to write to the tenant, outline the breach, demand the illegals vacate immediately otherwise you will evict the lessee.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
This is my opinion and how I see it, been here before as a PM and inherited a similar problem from a previous PM and had to pay the new property owner immediately to fix it, and the REA was out of pocket until the money sent to the wrong person was retrieved.
Provided your PM was advised of the date of settlement, 2 July, presumably by your solicitor or conveyancer, then any rent sum paid to the PM on or after 2 July is due to you and now is overdue. Also money already paid to the PM before 2 July to pay for any rental period after 2 July should have been adjusted at settlement by your PM & solicitor. It is irrelevant that the PM has paid money to some incorrect person after settlement, that's the PM's problem and you don't have to wait until they retrieve that money from wherever they sent it because it's not your money and it does not alter the fact that the rent due to you from the PM remains unpaid to you and that is actionable by Dept Fair Trading or Consumer Affairs in whatever state. You may find that authorities may overlook errors but not unnecessary delays.
An audit of the trust account should show they do not have the funds to pay all their obligations unless the REA puts in his own money to make up the shortfall – as he should because it's his agency's error.
Those handling trust accounts are fully accountable at all times for their actions and must pay their obligations promptly.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
To my knowledge, in NSW, if the utility company decided to advance credit to the tenant, and you are not a guarantor, then the tenant default is the utility company's debt to pursue with the tenant, not with the property or property owner.
You were not given any opportunity to approve the tenant's level of credit or debt, or to check their credit worthiness before allowing them to run up a debt with the utility company, that was done by the utility company, nothing to do with you.
Don't be bluffed into paying.
You can always ask the utility company which document or agreement signed by you would they be relying on to argue that the debt is yours e.g. supply contract.
Def agree with TerryW to obtain written demand from Ombudsman quoting the act under which you are required by law to comply. Then you can check with the Privacy Commissioner before providing tenant details. CYA at all times.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Ask council about experienced planners who you could discuss your ideas with. Those who are in good standing with council and who are sympathetic and well versed in the local requirements. Consider how you would market these units, also advertising and website costs, wotif, key pickup and return, payment, cleaning, maintenance.
Consider what is lacking in the market, and aim for a point of difference, e.g. continental breakfast in stock, vouchers for pizza delivery or fruit delivery, free wi-fi for laptops and ipads/tablets. Big screens, stereos and DVD players are a given.
I rent 6 x 2 brm apartments through my motel booking office in regional NSW, very happy with the return thank you.
Good luck.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi All.
Update on our motel leasehold purchase of December 2011.
6 months figures are in and above projections.
P & L’s provided by vendor have been exceeded, so we’re very happy with the purchase.
Now to realising the upside potential and increasing nett.
Hope all those searching or purchasing are going well.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Danni.
Sounds more like you’re trying to figure out how you can setup a business in this area.
If that’s the case, be direct.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Jase.
PM me if you like, I have some suggestions relating to investment in motels. Also might help if you add an email address to your details.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Richard.
That’s interesting about NT Govt – howzabout NSW Govt doing anything to help, or is that a really dumb question to ask about this greedy oppressive NSW mob ?
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Wannagetthere.
Obviously there are a number of ways and means of “getting there”, ranging from possible to certain, but I suggest you put the main one into action because it’s guaranteed to work – save for a deposit. The proven method obviously is to cut expenses, increase income, build reserves, increase education in real estate, educate yourself exhaustively on a geographical area you will target. Aim for say 3 years, document all your efforts ready to impress a lender, and it will become a certainty. I guess you could ask yourself if it would’ve been worth it if you’d put a plan into action 3 years ago and own a property now – so where would you like to be 3 years from now ? Where you are now, or owning your first property?
Wish I’d started very young. The above info from me is very hypocritical, because I didn’t do it until my forties, it’s what I know now.
Just get started, use this forum and all the help from the finance and real estate investing experts here who’ve been so very helpful to me, and the results will be yours.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Ziv. What a different world that is.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
That’s a tragic and sad situation with no winners. It’s just a total loss all round. Great sympathies for the families involved. Taking a gun to a property dispute is not recommended. Such a useless thing to do. The gun debate continues in the US. No-one seems to have the magic answer and the issue does not look like being resolved anytime soon.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
I’ve asked the administrator before for a “like” button, must be a technical issue.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi JacM.
Put it right here so we can all see what St George did pls.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Ask the ATO how to repair a split HWS ? They gotta be kidding.
If the cost of repair exceeds the cost of replacement, what then ? Spend more and claim?, If we made decisions like that nationally then they’d wonder why businesses were going bust and not paying tax and people out of jobs. Mostly, unless it’s just an element replacement, HWS’s are not repairable.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
If you ask the bank if it’s a binding agreement, what do they say ?
possibly one of those situations where you could win a battle and lose the war.
Banks have so much discretionary power, you could expect them to use some later.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Put a number limit per room and specify what type, and they must stay there when the tenant vacates.
A vacated property with picture hooks looks OK.
Better to allow the tenants to make themselves at home right?
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
