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Handle everything on my behalf, act in my best interests at all times and keep me informed to the agreed level, reply fast to my calls & emails. Way simple for a professional.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Jam.
These remind me of the linings in some old caravans and old mobile homes, and they’re usually about 3 ml thick.
I’d remove them and replace with gyprock asap.
Love the old wide real timber boards.
That house really has great character.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Zem.
Ideally, I think you need comments from ppl who actually use the software daily.For what it’s worth, I tried a couple of programs like Investment Detective I think it was called, looked OK for me small scale, and a few different small scale spreadsheets but never really setup everything and operated with it so not a good test.
I saw a demo of Somersoft PMS which looked very comprehensive, could be worth a look.Ask your bank too. Good luck.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi David.
Hunter region is so strong, we doorknocked it seeking investment in the hospitality area, Muswellbrook, Singleton, Scone, and planned to enlarge that using extra villas, units or houses. The info which the hospitality sector so kindly shared with us painted a clear picture of a very strong investment area totally dependent on mining. We’re still seeking in the area.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Pumkin.
You said hotel/motel in Bathurst.
Not sure if you’re seeking a hotel motel combo like the Panorama City Hotel Motel in Bathurst, or
you’re saying you don’t mind if it’s a hotel or a motel in Bathurst.I’m familiar with motel brokers but not hotel brokers.
Can you clarify what you’re seeking and the price bracket please ?
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Whoah Terry, that’s a very big card to play, wish I’d known about that one years ago.
Thanks
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Layabout.
Suggest a relatively young motel, besides more depreciation benefits, they are less hassle than the older ones, which are more likely to have larger maintenance or repair events which may become grey area issues between landlord & tenant, which you can do without during the first couple of years of the learning process.The inland town locations tend to provide higher ROI scenarios than seasonal coastal locations, and with country towns it tends to be further to the next town than in coastal areas, which helps guests decide to stay.
Enjoy the search and happy to help if you need it.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi All.
Different ways to get removed from TICA.Firstly you need to know the details of why you’re listed, and by whom.
If you still owe money, I suggest you negotiate with the REA who listed your name to remove your name if you pay the amount listed, or a lesser amount you can negotiate.
If you believe you don’t deserve to be listed there, request the REA remove the listing explaining why. If they won’t, request a Tribunal hearing and orders to have your name removed.
If you believe TICA is acting improperly, you can discuss it with the Office of the Privacy Commissioner.
I used TICA extensively as a PM.
It’s a very useful tool for PMs, and protects landlords and PMs if used properly.
Of course no-one likes being listed on it, so it has deterrent value as well.
Nobody wants a mute watchdog with no teeth, except maybe burglars.It enabled me as a PM to protect investors from bad tenants – like house trashers, big rent arrears, skippers, etc. and when an application showed a debt listing, then previous out-of-pocket landlords knew where to find skippers.
Also, when well vetted tenants went bad as a very small percentage do, I could protect the REA Licencee and prove to investors that I did all possible to vet their tenants thoroughly before allowing them possession of the property.One tenant who admitted to being a skipper, and had skipped on my predecessor PM about 3 years previously, rang me to negotiate name removal because it was causing so much inconvenience for them when making tenancy applications. We settled on 75% and I had to investigate to find the person who was the owner of the house during that rental default period because that was 3 owners ago, the property had been sold twice since the rent default, but the funds belonged to whoever owned the property at the time of the rent default.
TICA worked well for me as a PM.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
I used Mortgage Watchdog.
It found errors, luckily I only had small ones but that’s not the point, they could’ve been large mistakes and gone either way.
Why can’t a billion dollar bank with massive computing power get it right, when a low cost program outshines them ??
Maybe the Banks should ditch the flawed software, and buy and instal Mortgage Watchdog.Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Layabout.
Welcome to the forum from me as one of the many forum members.
Several questions would help clarify what you’re seeking .What price bracket are you thinking of ?
Coastal or inland ?
Are you seeking a :
Freehold operated under management, or
Leasehold operated under management, or
Passive investment Freehold leased out to a tenant ?Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
You don’t mention if the lease agreement requires the tenant to pay water by the meter or not.
Either way, it’s not the tenant’s cost unless the tenant caused the leak by negligence or had knowledge of a leak and did not report it.
This means that if the tenant is supposed to pay water by meter, the tenant is being charged water by some guesswork method other than strictly by the meter.
Unfortunately as far as the tenant is concerned, the water consumption amount on the meter reading is now officially not what the tenant used. Not a good position to argue in a Tribunal so good to gain some written agreement quickly with the tenant and as painful as it is, I’d pay it before someone gets in their ear to contest it.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Very important to report the issue immediately to whichever Govt authority issues the Real Estate Licences for REAs to operate in your state.
In NSW for instance, Dept Fair Trading issues licences and swoops on REAs to do audits on activities and trust accounts which hold rent. Severe penalties apply for not operating trust accounts properly which includes withholding rent.
Set the Govt dogs loose on them.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Milman.
$159,000 (Rent)
$15,900 + (10% GST)
= $174,900
and claim the GST amount $15,900 on your BAS if you’re eligible.
Better talk to your accountant on that issue of GST.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Milman.
Welcome to the Forum from me as just one of the Forumites.
The point of a confidentiality agreement is that you give assurances that you will be will be privvy to confidential information and you will be responsible and considerate with that information. As a potential buyer, it is necessary for you to be supplied with all the financials of the business for sale. These are usually emailed.
Other information you may request is :
Last 3 AAA Star rating inspection reports.
BAS statements last 3 years.
Profit & Loss statements last 3 years.
Lease document.
Type of resv system software.
Occupancy and sales reports last 3 years.
Maintenance reports – issues, repairs completed and pending.
Pest report.
History of Correspondence with landlord. Any issues with landlord ?
Vendor’s bank contact.
Vendor’s Valuation when purchased or more recent.
Check TripAdvisor reviews.
If member of chain, request vendor’s approval for a history dump of sales and commissions.
Same for a history dump of utilities, like gas, water, elec.There are various levels of scrutiny and naturally costs increase with more due diligence.
Try to look at as many P & Ls for different motels as you can, so you can understand what is normal.
Normal meaning benchmarks like cost of utilities like electricity relative to occupancy.
ABS stats show average occupancy and $ for a region or town and are worth graphing.
Lots of due diligence to do so you can reach the point where you buy with confidence because you have done your homework.Hopefully time is on your side.
It would help if you outlined your requirements like :
number of family members
Bedrooms required
Pets
Pool?
Region
Price bracket
Reno / trades skill level
Admin skill level
Customer skill level.
Private message me with some of that if you’re not comfy posting it all here, but more info per post helps the forum.Happy to assist.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Request the PM to ask the tenants if there is anything they need installed in the property for which they would pay more rent.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Sounds like you might be better off in a unit property trust or something like it.
Better to go alone, maybe some reno flips, if you want to grow personally and financially.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Sounds a bit like a motel operated by separated partners living offsite or something. Very confusing.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi jphoth.
Would you mind posting an update here later n let us know how your sale is progressing ?
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
I don’t think you can keep the info out of LPI such as a “last dealing” info request which cost me about $15 last time I bought one online.
It provided the sale price.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Great post, excellent idea and very useful.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
