Hi Mattsta.
What motel ?
And did u look at MQ’s website – they sell hotels as well don’t they ?
Are u really searching for a hotel ?
cheers
thecrest

I’ve found valuers to be very helpful and knowledgeable, and their val forms an important part of my DD.
Suggestions.
Interview a few valuers before selecting one.
Ensure they are familiar with the locality and upbeat about it.
Provide them with all the favourable comparative info you can find and ensure you get agreement from the bank and valuer to be provided with a copy of the valuation same time the bank gets their copy, provided you’re the one paying for the valuation.
Appeal to the bank and valuer with supporting docs if you feel the val is incorrect.
Cheers
thecrest

If you had 3-5 offers placed awaiting outcomes on properties which you were willing to buy if your terms were met, then you are a genuine buyer, they are genuine offers, and you are entitled to make those offers. The strike rate might only be around 20% anyway, depending on market conditions, vendor whims, and your terms.
REAs would ideally like you to be desperately dependent on the outcome of only one offer, but who wants to be in that position.?

Nevermind whining agents, they don’t mind playing 5 bidders on one property, they just don’t like the shoe on the other foot because it favours the astute buyer – so go for it.
Just don’t make an offer you’re not prepared to back up.

Good luck.
Cheers
thecrest

Good luck Johann.
One of the business brokers told me once that he sells the benefits of the location in terms of local lifestyle and local amenities, social life, medical facilities, golf course, transport, infrastructure etc, as hard as he sells the actual business itself, because if the potential buyer doesn’t like the area, they won’t want to live there and are unlikely to buy.
Seems reasonable.
Cheers
thecrest

Try Manenti Quinlan Brokers – Ray Larkin.
There are many other brokers as well.
Hope your search is proving fruitful.
Cheers
thecrest

Excellent result so far.
Usually in this situation, you need to mitigate any losses by doing whatever is necessary to re-let the property as quickly as possible.
The insurance company requires this, as well as any court decision, to enable you to make a claim.
Under the abandoned goods act (in NSW), if valid in your state, you can dispose of any goods at your sole discretion if the debt exceeds their value and or if the value is below some level like $1K or whatever is the limit in WA if that’s where you are. A chamber magistrate at the local courthouse can tell you that situation.
Going well.
Cheers
thecrest

Hi Johann.
When we were actively seeking a business,
we found many of the businesses for sale provided poorly presented P & L’s.
The ones we looked harder at provided the following :

Clear comparative information which made it easy to compare the last 3 years in any category of sales or expenses,
Good reasons for selling which did not reflect adversely on the desirability of the business,
Genuine upside potential with clearly defined opportunities and explanations why the vendor had not already done it themselves,
Figures guaranteed by the accountant and vendor,
Due diligence cost refunded if figures incorrect,
Access from accountant to accountant,
Enough photos to tempt us to visit, more if required,
Offer of refund of overnight accommodation for visiting purchaser who settles,

Other incentives could be :
You pay extra $5K or $10K commission to a broker who sells within time and price guidelines then the brokers will prefer to showcase your business before another,
Additional training or handover time for a buyer,
Local accommodation for the first month while buyer finds somewhere to live,
Experienced staff willing to stay on as casual for 3 months until converted to full time,

It all reeks of an honest deal with a motivated vendor.
Just some suggestions FWIW.
Good luck
Cheers
thecrest

Hi Johann
You already have the recipe for success, the youthand time to apply it, and now you are merely seeking or choosing the correct suitable vehicle.
Since you keep getting up one more time than you go down, and learning the depth and location of the potholes by personal experience, you will always finish in the up position. As you strengthen and consolidate your business interests, you will avoid the potholes and experience only slight undulations as all experienced and successful business owners do.
And there are plenty of mentors here, that’s what we’re doing now.
You’re inspirational.
Enjoy your unavoidable and inevitable success.
Cheers
thecrest

Hi Mattsta.
Here’s a hotel for sale, might be a bargain too as a mortgagee sale.
Good luck.
Cheers
thecrest

http://www.realcommercial.com.au/property-hotel%2Fleisure-nsw-finley-500339803?rsf=emailalert-propdetails

The owner already empowers the PM by signing the managing agency agreement, and then hopefully leaves the PM to do the job.
The owner has alreday done what they should to start.
Ongoing, the owner should approve R & M to be done without delay.
Cheers
thecrest