[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

September 25, 2010 - 12:51 pm

Drove the Nerriga road to Braidwood about 4 months ago, looked like lots more to do yet, some of it still 4WD territory then.
East Nowra – checkout the road to Springs Resort Club/Golf/Motel , you're not kidding about the low socioeconomic factor there, and I'd want a river at least as wide as the Shoalhaven between any IP of mine and the gaol, and all the family friends & associates who move there for easier visitation, there goes the neighbourhood. Be very careful and choosy in Nowra. Sorry folks, not my fave town.
cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

September 19, 2010 - 2:42 pm

Hi Paul
Have you checked out the RESULTS program on this website ? see right hand side ad for it "One on One Mentoring".
It was great, and for the money, you get 12 months mentoring, seminars, heaps of help, I got a lot out of it.
My mentor was Brendan.
Use this forum as you are doing, and do your due diligence on a course.
If you make it a rule that you don't buy real estate from those training  you, then you know you are only buying training, mentoring,  motivation and networking opportunities.
Cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

September 19, 2010 - 2:24 pm

You shared motivation on the previous goal, reaching Oz. .   
Can you help him find another goal to share with you ?
He may want to lead, not follow, depends on the culture.
Ask him to list his goals or preferences in order.

Damien may be right too, about him liking numbers, and your own talents may harmonise without being identical, complementary  talents, which adds more talent to the team.

Good luck
cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

September 18, 2010 - 2:45 am

Thank you for that Auguries, and yes it's going well for us.
There are some great opportunities out there for the finding. We're in search mode for leaseholds to operate under management.
As you know, Passive income motel opportunities can be found by buying the Landlord side of an existing motel lease with a tenant in place who operates the motel and pays rent.
Or, you can also buy a freehold, needs to be earning around 16% ROI to split, employ short term management who know the plan, create a lease and sell it, that way you can write the lease yourself and to a large extent you can dictate the terms of the lease in your favour.
For example, clauses like  :
25 years only, so you can sell some more years when it hits about 19 or 20, when lessees want to enhance it for on-selling. 
Rent increases, how and when.
Periodic Maintenance, painting inside n out every 5 years, maintain star rating or equivalent, refurbish date.
Tenant owns all the replacement refurbish items like tiles, furniture, carpet, bathroom and other fittings hence tenant pays to replace.
Probably telling you what you already know.

The market is quiet right now, very few buyers, great time to be one.

Hope you find something suitable.
Cheers
thecrest
 

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

September 18, 2010 - 2:24 am

View it as a buyer would – 
If the renew option belongs to the tenant, you can only offer a buyer a definate 3 years, what appears to be the likelihood of the tenant staying longer ? Can you sign a longer initial period to make it more attractive? e.g. 5x3x3 with long periods of notice required to renew or allow to lapse?  e.g.6 months ?
Tenants are usually at their most motivated and optimistic level when starting out, best time to capitalise on it.
To speculate on the market with a flip, you need to really know the market, what's on offer, what's being rejected, what's selling for how much with what conditions attached , what's hot n what's not, what the buyers want. Plenty homework.
Hope it's a gold brick for you. 
Good luck 
Cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

September 17, 2010 - 5:06 am

Hi Allan
If you use residential property equity for a deposit, the interest rate can usually be negotiated at res rates pro rata.
If you have some funds in term deposit, they can be tagged(locked in, secutitized)  by the lender, left there to reduce cash deposit.
You could negotiate a deal where your initial principal repayments for the first 12 months are high.
You could show extra loan servicibility if you move into the motel residence and rent out your PPOR, if you own it, plus factor in the lower costs of living at the motel residence, many personal outgoings  or needs happen to be provided by the motel and are expenses attributable to the business – utilities like gas/elec/water, rates, broadband, phone, car, Austar.
Might be advantageous to use a finance broker, they already have expertise in structuring loans and applications, and already have relationships with lenders and more clout than you.
There are a few on this forum who have thousands of posts to their credit and have helped lots of people here for a long time.
good luck.
Cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

September 12, 2010 - 1:35 am

Sounds like you've got it Keily.
Somewhat like anything else in commercial property,(and residential too)  stability depends on the quality of the tenant.
However, the quality of the tenant depends on the qualities of the property, and it's ability to attract a quality tenant.
Chicken and the egg thing, depends where you start, meaning if you buy a tenanted property or a vacant one.
My strategy is to buy an operating quality motel leasehold . 
I become the tenant, and  I employ a manager to operate the business.
ROI is 20% under management.
LVR is 70%, ideally, finance permitting.
Investment motels where you're the landlord, ROI is around 9%. (it's gonna be tight for these investors if the interest rates rise).

Reason I post this info is so someone else who's wondering how to move forward may find it useful.

Hope you're all doing well, whatever your investment path.

Any comments or questions most welcome, I just love this country and it's opportunities for wealth creation.
Try not to make the wheels fall off it all, Ms Gillard.

Cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

September 10, 2010 - 1:31 pm

Just ask these salesmen on the way in if they take deposit cheques from women ? 
Then ignore them.
cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

September 10, 2010 - 1:21 pm

Been a PM in NSW.  Kept a few tradies in work, so they were always willing to do a bit extra here and there for some of the properties I managed, which is acting in the property owner's interests, which is what the PMs are meant to be doing by law at all times. Kick-backs would increase costs for property owners and would not be in their interests.
Part of my job was to avoid any unpleasant liability for the licensee, cover his butt and mine at all times. 
There were no kick backs on my watch.
Cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

August 20, 2010 - 3:05 pm

Quality and quantity should be considerations, in growing Australia.

( It's doubtful Gillard or Wingnut have plans past next week at this stage.)
Neither of them would have more than 3 shirts ironed at the moment.

It'd be good to hear the Govt's big plan, assuming they have one, rather than just Dick Smith's, although I applaud his effort in getting the spotlight on the subject, irrespective of his motives whatever they might be.

Immigration should consider compatibility.
It'd be nice to have less problems, not more.

Regional Australia needs more employment opportunities, before more population, because it already has youth drain and talent drain toward the big smoke, due to lack of employment opportunities in rural areas.  
Some towns are so accommodating towards big business relocating there because they want more jobs, it's amazing more companies don't  relocate. They get Council honeymoon deals and fast track on land, rates, water, sewerage, DA's, roads, whatever it takes, plus lower staff turnover and absenteeism, almost singular culture and language workforce, lower cost housing, short easy commuting, country lifestyle, lower crime rate etc.

Anyway, growth can be achieved, but quality must be maintained along with quantity and timing.  

Sounds like a lot to expect of a Govt.

cheers
thecrest 

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

August 19, 2010 - 2:26 pm

There's nothing like a good idea . . . . 

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

August 18, 2010 - 12:21 pm

Many have benefited from his books, created turning points for themselves, created better attitudes and mindsets, don't care if he is poor or rich. The man has had a huge positive effect on so many people, including me.

Not sure I like the comment about low socio economic classes, but there are certainly plenty of appreciative people who aspired to better economic circumstances and needed Kiyosaki's readable material to help them on that journey.

His material helped me a lot, it confirmed many things I believed, but weren't game to "bank" on. With the knowledge and inspiration from him (and a few others),  I was able to achieve financial success. 

Knowledge is the key, and overrides socio-economic factors.

Many have profited  from his books , and many more will. Considering that any one good financial idea is certainly worth
more than the mere cover price of any one of his books, everyone who buys one already makes a profit right there.

Cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

August 18, 2010 - 11:58 am

Good one Banker, we need all the strategies we can get.
cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

August 18, 2010 - 11:53 am

I just love Wagga, still looking for a motel there, pls let me know if you hear of one for sale.
You picked a great place to live Jacqui.
cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

August 17, 2010 - 8:40 am

Someone sent me this yesterday, helps with perspective on the number  " one billion ".
Can't vouch for its mathematical accuracy, but it's interesting. 
Conspiracy of the Rich, yes read it, don't have the knowledge or time to check his claims, but
I agree we're an ant heap being mined by the powers that be.
I've seen first hand the weapon of illiteracy wielded by Govts to control the masses, nasty. An example is providing primary education in the local language, then come high school switch to all English, few slip through. Maintains a dumbed down population and large unskilled workforce. 
Definately education and availability of information is the key, whether it's financial or political.
No wonder Govts fear the internet.  

Quote by: Ross Greenwood of Money News. 

What is a Billion?

How many zeros in a billion???

This is too true to be funny…

The next time you hear a politician use the word 'billion' in a casual manner, think about whether you want the 'politicians' spending YOUR tax money.

A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of it's releases.

A.  A billion seconds ago it was 1959.

B.  A billion minutes ago Jesus was alive.

C.  A billion hours ago our ancestors were living in the Stone Age.

D.  A billion days ago no-one walked on the earth on two feet.

E. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it.

Ouch

We note Gillard still splurges on election campaign ads, but won't commit funds for regional medical services like Gulgong, NSW, for instance.
It's OK for Gillard –  if she gets sick while sucking up for votes in that area, she'll chopper out at taxpayers' expense to the best medical facilities in Australia. It's mind over matter with pollies, they don't mind and we don't matter. 

Cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

August 16, 2010 - 6:55 am

Have you got a New York Lawyer/Tax Specialist you could send the book to ?

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

August 9, 2010 - 10:39 am

Update :
We have finally sold our motel, took about 2 years.
Split it into a leasehold and sold off the 2 parts of the lease, landlord and tenant.
Like owning a building and a restaurant business in it. You can create a lease and sell the building off to an investor who just wants to own a tenanted building, collect rent and not operate a restaurant. Then you can sell the restaurant business to someone who wants to own & operate a restaurant and pay rent, but doesn't want to own property.

Now we're continuing on track to buy 3  motel leaseholds min $600K to operate under management.
Target areas limited to towns with conventional reasons for growth and  located mid western NSW from Dubbo to Wagga.
Not interested in towns sustained by mining, or anything else which might peter out.
Excellent buying right now as the buyers have dried up.
Commercial interest rates are relatively low, could be better, and unlikely to rise for a while.

Our 2 year plan has come to fruition and the next 5 year phase is starting.
We had great help from RESULTS RP4,  (it was worth the money and thank you Brendan) and heaps of info from good people on this forum. 

Thanks to all. 

Cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

July 14, 2010 - 12:53 pm

Hi Melbproperty
We did the RESULTS program as a couple.
Our mentor was Brendan, he was excellent.
It was a success and delivered for us on it's promises.
If you want a mentor, go ask them, assess it, get names of existing
members and past ones. Ask them all, find others amongst members who
have similar goals, network with all those with similar goals.
You will know after that if it's a mentor program for you.
When you know what to do, take action.
Good luck
Cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

June 12, 2010 - 1:40 pm

If some dog digs a hole, or rain makes a hole, or soil subsides or settles, whatever the natural cause, the tenant must be to some degree responsible for looking where they walk.
The REA may have felt this settlement price was "in your best interest", but handling these matters takes insurance company expertise to draft indemnities and get them signed. 
Wouldn't be without public liability insurance, work with your insurer.
Cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW

[thecrestParticipant@thecrestJoin Date: 2004Post Count: 992]

June 12, 2010 - 1:30 pm

Suggest you stipulate which tradesmen can be used if you know any in your property's area that keep it real.
Otherwise use the REA's tradies but switch if they're overpricing work. You can also insist on quotes before work, unless it's in the urgent category, but the word "reasonable" still applies to costs.
cheers
thecrest

thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me

selling motels in NSW