Forum Replies Created
Can you ask your valuer which bank panels he’s approved with ?
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Wagga is an excellent city for the motel industry.
Now we’re a part of it and on track.
Anyone need help with their motel search welcome to PM me.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Thank you Paullie we have recovered and then some, thanks to the motel industry, family n friends, the Forum and forumites and all their combined info and help by posting, PropertyInvesting.com mentoring program, and a lot of hard work, and the democratic system and abundant opportunities Australia has to offer.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
We didn’t know how bad it was, and accurate information was difficult to get.
There was no forum at that time.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Glad we took 18 months to find the right motel, worth the wait and due diligence.
It’s a member of a major chain, and woohoo the annual conference this year is in Fiji. (tax deductible).
Looking forward to that, Bula Vinaka.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
The South Pacific is beautiful and enticing, however it is a graveyard of expatriate entrepreneurs.
We lost everything there ourselves due to corrupt officials, so speaking from bitter experience.
Coconut Govts change the rules anytime they like, forget democracy there, and well placed officials
can take anything they like one way or another, or win by attrition.
The systems there are setup to maintain financial control of locals and even moreso expatriates.
Play politics if you dare, but influential locals can extinguish your visa with a phone call.Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
We installed and used evaporative in a very large flat roofed 2 storey home equivalent in size to 2x 3 brm residences. It required external ducting on the flat roof because there was no internal roof space. Air access from the 2nd floor rooms to the ground floor rooms was provided by the stairwell, which acted as a very efficient air duct. The system was very economical to run and worked well even during a week of 45c days in Cowra, NSW. Used it for 9 years. Now using another one in Wagga Wagga NSW, also excellent. Heating by gas and RC Split systems.
Evaporative work well in low humidity areas like western NSW, adding about 20% humidity inside compared with outside, easy to read info on those wireless home weather stations, but evap is no good on the coast where humidity is already higher, creates damp and mould.
Cheers
good luck.
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Thr1lled.
If you’d like the blank lease, PM me your emai addressl & I’ll send it to you.
Don’t think I can send a big attachment through the Forum private message system.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Thr1lled.
Our motel is on track, going very well, thanks.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Thr1llied.
Very glad to hear someone is benefiting from the posts.
Any cashflow that cannot be substantiated, cannot be sold.
Valuers will disregard it.
Any large difference in income between one year and the next, especially an increase approaching sale time, is cause for suspicion, and must be proven if accepted into the sale price equation.
As you already know, if a seller says they have already enjoyed tax free cash, then they have already been “paid” that amount, and
can’t reasonably expect to benefit from it again by selling it as part of the business income.Items to look for with a sudden increase in income :
Proportionate increases in variable costs – those items which increase with occupancy such as laundry, electricity, gas, water, cleaner wages, room consumables like soap n shampoo.
Also if the claimed increase in occupancy was also enjoyed by the town or region, it would show up in Australian Bureau of Statistics information on that particular town or region.It’s wise to engage your accountant and solicitor early in the process, to ensure free flow of information from the vendor’s accountant and solicitor to yours. Your accountant should carefully analyse the P & Ls. After you have looked at a number of motel P & Ls, there emerges a pattern, and anything which is outside that pattern raises questions. Ensure offers and contracts contain escape clauses like subject to valuation, or subject to finance on terms acceptable to the purchaser, or subject to your solicitor finding all documents acceptable, subject to inspections like building & pest.
Ensure there are no outstanding or onerous pending local council demands.
Ensure there are no outstanding or onerous impending demands from the landlord, no ongoing conflicts between landlord and tenant.
Coz you don’t want to buy into a well-shaken hornets’ nest.Re assessing a motel. We paid a valuer $4500 to do an official valuation on the motel which the bank demanded, 75 pages worth arrived, best due diligence I’ve ever seen and spent last when we were sure we were going ahead subject to valuation. If you need the contact we’re happy to supply it, but don’t know if they operate in Victoria or have affiliates. They were actually a recommendation from a valuer we knew who was slightly out of area. Worth every cent. Valuers base their final figure on a number of factors, and it includes the condition of the property, age, P & Ls, competition, local economy, state of the national economy, SWOT analysis, comparable sales of other properties, capitalisation rate relative to the aforementioned factors among others, and other factors. A good valuation is quite comprehensive.
PM me contact details if you would like a chat.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Forwardthinking3.
Hope you’re still in Wagga and enjoying success.
As I mentioned, we were seeking a motel leasehold in Wagga and
we have now purchased the Best Western Ambassador in Wagga so pls give us a call.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Rossansjacqui.
Is there an update to your motel search ?
What have you found so far ?
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
I guess it means that if you fix loans on a rate, and that rate will work for your investment scenario into the future,
then your strategy is successful, and it doesn’t matter where interest rates go for you.However, changes in interest rates affect the economy in various ways and those changes in the economy may
in turn affect an investment, so if you have debt, it’s not easy to be completely insulated.cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
I guess it depends on how poor.
If the management is of a level poor enough to be actionable by Dept of Fair Trading, then the licencee would surely prefer a mutually agreed early termination of the managing agency agreement to a DFT complaint.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
If you haven’t been to a seminar of this type, there is much to learn, provided you don’t have to spend too much on travel or accommodation to be there. In most cases, there has to be a certain amount of included “benefit” for the attendee, and it amounts to the necessity to provide a certain amount of bait on the hook. Without providing some market updates and other market or investment information, presenters don’t gain credibility and attendees feel duped.
There is also the opportunity to mix with other like minded investors, do some networking, and get out of your comfort zone for a while.Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
All kinds of creative deals short or long term are possible especially if you doorknock an area and discuss options and vendors needs to find win-win opportunities, it’s amazing how much vendor finance is available.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
My apologies, I meant to say ask the issuer of the EU (ASIC) for the correct method of requesting a refund.
Hope for Vet80’s sake, and any others wanting a refund, that it’s not a Titanic situation.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Vet80.
Well placed link speedygonzales.
The speedygonzales Gold Coast article makes me think you would be joining a long queue for a refund.
Now there is another company involved, it looks more complicated.
Dept Fair Trading should be able to suggest the correct method of requesting a refund which complies with
their EU order.
Good luck
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Alrox.
As a matter of interest, what price bracket leaseholds are you looking at ?thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
” . . . . Enforceable Undertaking . . . .” OMG sounds like an embalmer with a court order. Groan, sorry Terry & everyone, it just got to me, that one.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
