Forum Replies Created
Hi Ross n Jacqui.
Suggestions.
Tailor the motel to suit your existing capabilities, unless you want to re-invent yourselves an awful lot.
You should be aiming for a rock solid performer, position position position, a very forgiving business for newcomers.
The banks will only lend to a newcomer if he has big collateral and seeks a solid performer.
If you’re not a great handyman, buy a later model which is in better condition, requiring less maintenance.
If you have no restaurant experience, avoid buying one. They require an extra 40 hrs per week, staff drama, less profit than accomm.
Ideally then the motel should be located one or 2 blocks from evening food, e.g. restaurants, cafes, club (the best ).
Look at heaps of P & L’s of motels for sale until you understand them. Set benchmarks so you can compare apples to apples.
ABS provides free occupancy and yield stats on locations, ring them and ask.Most motel brokers don’t care what you get saddled with, they only make money when a motel changes hands.
If you like an area, doorknock all the motels and talk to owners & operators.
There is little or no capital gain on a coastal leasehold unless you increase the nett profit which could take a while for a newcomer.
So it’s ROI, cashflow, free home, meet people.
If you have time to look and wait, consider freehold for better investment security for a newcomer.
Most vendors and motel brokers just want a transaction, so you must educate yourself to a safe level before you buy.
Feel free to PM me your email address and we can do more by email.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Kindren
Hope your target is lucrative for you.
My Opinion. Goulburn is a great motel town. It even provides well for motels of lower star ratings.
One motel has just been knocked out of commission by being converted into a half way house.
Recent sales should provide plenty of info for a valuer.
Lilac City is for sale. Also Goulburn Motor Inn. Trappers just sold.
Business comes from many different sources in Goulburn, like Police Academy, tradies, Wakefield car racetrack, reps, tourists, hume hwy traffic never stops. Provide quality and value for money and a motel business will grow there. Must be effective on the net though.
Being a town of weather extremes, effective efficient heating & cooling and insulation are essential. Distance to food is important coz you can freeze on the street in 100 metres (speaking from bitter experience). There are 2 good motel opportunities there, so PM me if you like.Lithgow motels should make good money, thrive on the coal & power stations. Council website includes an excellent S.W.O.T. analysis even specialising in hospitality & tourism too, worth reading. Zig Zag & Bowen dominate, both excellent. One near prison always busy, needs reno. Lose a chef though, could be waiting a while to find a replacement in Lithgow. Also a town of weather extremes. Tradies bookout most everything Mon-Fri. Weekends sparse. Expect it to go up and down hitched to the fortunes of the power & coal industry. Opportunity exists to buy or renovate nearby properties for extra overflow accomm. ” Proposed ” superhighway won’t affect a good motel there unless it’s mostly dependent on passing trade, none are.
Both the above towns have some tired motels and some great ones.
PM me a lease or the listing with specifics if you want more info.
All the above is opinion only.Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi No.8.
Exposed wolves in sheep clothing appreciated always.
What kind of help do you want ?thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Something else occurred to me, a few motel broker ads mention motel on the market due to poor health.
Now that sounds like there’s someone who could use some help and provide some hands on experience.
Win win.
Cheers
thecrestothecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Good on you Earlstongardens, that’s a very good offer for JJMB, you’re a good example of a helpful motelier, great way to get experience.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Some councils estimate the parking spaces required as one space per patient per doctor or dentist, plus a spare few. Parking contributions to council for spaces you don’t have may be required. Def a job for a good local town planner who is well regarded by local council.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Irresponsible, not appreciated
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Bobbs
There are 2 considerations here, maintaining the star rating, and/or meeting the annual brand quality inspection requirements.Star Rating – Most leases state that the tenant must maintain the star rating at the tenant’s expense.
Brand – The lease will show who is responsible for replacing or maintaining those items which are not up to brand standard. Usually the business is considered to be the tenant’s business so the tenant decides what brand to use, but some leases insist on maintaining a particular brand or prevent changing a brand without mutual consent of the tenant and landlord.
Because the tenant is usually the one who pays for refurbishment of interiors and visible fittings, then usually the tenant pays.
But a “refurbishment” may require resurfacing the carpark or driveway, replacing the fence, rendering, new signage, new gardens, guttering or tiles, etc which are bigger capital items and may be the landlord’s expense, again depending on what the lease says.
That document is king, almost.Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hmmm, you’ve just joined, placed 3 posts all ads all the same, not helping anyone except yourself. Not really how the Forum works as I understand it. Genuine forum contributors who join to share n help others while getting help for themselves is closer to the Forum purpose I believe.
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Angel by name, Angel by nature, thank you for the inspiration and hope you have given by posting your story, which endures and stays with me and helps through hard times. Wishing you success too but also comfort and peace of mind now and in the days to come.
Regards
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Opinion only.
First, it must be established whether this damage is fair wear n tear, irrespective of the condition report.
What wear n tear is fair is completely relative.
In that regard it would be reasonable to expect that a kitchen floor could take some water without swelling.
So a tenant should be able to mop it at least every day for instance, and it should be able to take some spills.
It’d be difficult to establish how long water had sat there and arguable that it’s unlikely someone would leave a high traffic area such as their kitchen floor wet for an extended period.
A tenant’s advocate would argue there was a problem with floor sealing under normal usage conditions, not necessarily tenant abuse.
Sorry, if it went to a hearing, can’t see a result in the landlord’s favour likely in this case, even if it’s unfair.The situation would be different if it was a lounge room floor.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Bernard Salt of KPMG created some excellent graphs of top towns n growth rates, administrator or someone on here may have them, they were also overheads during Salt’s amazing presentation at the 2010?3 day Mega Conference.
This includes some of Salt’s information :
http://www.retireonproperty.com/whyproperty/property-investing-demographics.htmlCheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Don’t cave in yet if truth is on your side. There will be an appeal process available.
This is a free country and your lifestyle should not be on trial.
Would Clancy of the Overflow be ineligible because he’s away a lot droving ?
What about seasonal workers who traditionally do the northern sugarcane season then south for the fruit picking? Are they ineligible for the FHOG too?
What about guys on oil rigs, 2 weeks on 2 weeks off ?
If your case is genuine, your utility bills and all sorts of other documents will back it up.
don’t quit too early.
Good luck
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
That’s probably a good description of deja vu – 2 threads on the same topic – except it’s in your head.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
To my limited knowledge, very limited, there are some situations with govt depts where they can deem, and the burden of proof is on the citizen, ATO i believe can act in this manner under certain circumstances.
So, if Vic SRO can grant money, and if it has the power to take it back, you need to understand the FHOG system under which they are operating, and who bears the burden of proof.
Good luck
Cheers
thecrest.thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Everything is in your favour, time, income, attitude, family support, family $ support, willingness to learn.
And thanks for the larger type font, shows great compassion and consideration for us older people, but you might like to scale it down a bit for the majority.Our oldest citizens type generation didn’t used to make their money work hard, because financial education was not as widespread as it is today. Then the attitude was just keep paying off the home loan over 25 years and try to save as well, heaven knows how they did that.
But it meant they had lazy equity, as they paid off their home, which was doing nothing. You can see the comparison.There are safe limits to how much debt you take on, and you need expert help to formulate financial plans to find out where that limit is for your own unique circumstances.
Prudent Planning – That’s what the difference is between punters and investors.Good luck, exciting times ahead for you, surround yourself with a strong team like family, accountant, financial planner, finance broker, solicitor, learn like mad, plan carefully and only trust those in your inner circle.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Helluva Mum, helluva head start.
Nice problem to have.
Ryan’s on the money – Get full details on your Mum’s plan n work with her and learn fast as Xdrew suggests..
This forum’s a good start.
You’re pulling the real monopoly board outa the box now. Exciting times have started.
BTW – how old are you and what’s your income ? (so ppl here can assist you further.)Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Bobbs
PM worked fine. Sending material.
Formule1 owned by Accor do their homework. Their philosophy is choose a site which has the minimum level of traffic flow according to RTA & Council traffic counts, and must be near or next to food & fuel. In retail terms, they’re “category killers” and king of no frills, the vending machine of the accommodation industry. Not a fan, but at least they filter out the lowest paying guests in your geographical area so you don’t have them hassling you for a $59 room. Good area where you are. Years ago we operated the Banksia Motel at Bass Hill, wish we owned it.Hope your project is a great success, sounds amazing, it’s way out of my league so I’d love to talk to you about it sometime.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Bobbs
Calling BANks conservative on motel lending right now is charitable and conservative in itself.
Just got right royally waltzed around by a BANk for over 3 months “building relationships” ,
oh yeah that’s a good one, then they shrink their LVR at the last minute so you don’t have time to use a competitor.Appalling behaviour even for a BANk, so unprofessional.
Where’s your motel site ?
To access PM,
left click on “thecrest” in blue header, then left click on “view public profile” ,
then left click on “contact” tab,
then enter subject & message,
then left click on “send email”.Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Bobbs
As only one of the many Forum people, welcome to the Forum.Glad you found some useful information. The Forum and others have helped me so repaying the cosmos works for me.
Information is our most precious commodity which we exchange here as freely as possible and if everyone contributes in some way then it helps others.
It sounds like you have embarked on an amazing journey and any information you’d care to share here would be welcome as you’d know from looking around..I’ll see what I can find in a lease for you. Pls advise email address by posting here or PM.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
