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thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
June 12, 2010 - 1:18 pm
Watch the hotel managed accommodation carefully.
If you think about it logically, why would the hotel give you a big share of the profits ? Coz if they were doing so well, they'd get finance from the bank for say 8%, so if that's all the financing costs, then why would they give you heaps more than the bank for you to finance it instead ?
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
May 31, 2010 - 1:48 pm
Here's an update.
The Passive Commercial Investment part of the motel sold.
The leasehold looks like it's sold if the exchange takes place this week.
Woo hoo, now we can continue with our plan to buy bigger motel leaseholds and run them under management.
No thanks to snuff the tragic dragon who did a reverse of their LVR saying they now need 70% deposit for
a motel leasehold instead of 30%. NAB to the rescue, thanks NAB.
Anyone in motel investment need a hand, let me know.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
May 31, 2010 - 1:36 pm
Hi Jaffasoft
From what many brokers have told me, and for what it's worth, there are several ways of generating leads.
Listings hard-earned by visiting every motel in the state, this works better than anything, many kms, raises profile.
Can't sell or list motels unless you know the market and that's how you learn the market. The greats are great listeners.
Then, list them on a good website which ranks highly on search engines, and shows properties clearly, and is easy for potential buyers to navigate according to their preferences e.g. general area, leasehold or freehold, , price, with restaurant or not, ROI, number of residence bedrooms, etc. so that buyers can search effectively without becoming frustrated.
Other brokers bulk email flyers every week to their mailing list promoting buys of the week or just a selection of listings and links to the rest on their website.
The weekend newspapers are a flop, except a small pointer ad to the broker's website.
Hope your family's venture is a great success.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
May 23, 2010 - 10:39 am
How do we get a statesman who is a PATRIOT – fully dedicated to our country and Australians, who will put the short term and long term welfare of the nation ahead of his personal political future  ?
How can politicians demand total Patriotism from service personnel without giving the same themselves ?
Showing my naivety and idealism here, like expecting loyalty from a snake.
Usually i sign off with cheers but on this one . . . .
jeers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
May 22, 2010 - 12:24 pm
Hi Debski
Can you post an update of your progress here, let us know how you went looking for a motel ?
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
May 22, 2010 - 12:21 pm
Hi Sstrache
Have you made any progress on your leasehold motel search?
Hi Jaffasoft
Is your family hotel / motel broking business in Mooney Ponds up and running ?
cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
May 22, 2010 - 11:42 am
It's not getting easier. Govt's don't take long to transform from saviors to predators.
The questions as always –
Who would do a better job ?
And for how long ?
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
May 22, 2010 - 12:23 am
We've all got to contribute for the next 3 years to pay back the Govt debt so lunch is out guys,
pay more tax, no eating during the day, think thin, lean, austere, be negative,
shrink to fit the space under the boot you're under.
I've switched from a lunchbox to a matchbox.
Not.
BTW I've got an admin box too, it probably means watch this space
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
May 4, 2010 - 3:10 pm
Hi James,
welcome to the forum.
Looking for a second hand copy, not a new one, as per my opening post.
Thanks for the info anyway.
cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
April 28, 2010 - 3:06 pm
Hi Casmit
If the $200K leasehold provides typical leasehold returns of 30-35%, you'll have to be careful you buy one that doesn't need much spent on it for a few years while you save, income of 30-35% doesn't leave you too much to play with.
However, disposable income is high compared to most people's situation because there are perks like a free home onsite, no commute to work costs, personal living expenses indistinguishable from deductible business expenses, free use of guest extras like broadband, austar, free utilities, deductible vehicle is biz on call 24/7, cash, replace casual labour with your own ( avoid personal burnout ), do all laundry and repairs/maintenance yourself.
Unfortunately freeholds typically only return around 15% , half of what leaseholds do, and there probably won't be any on the market for around $200K.
I know a really good leasehold for sale for $365K, (mine), 30%, if your financial situation reaches that point, PM me.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
April 28, 2010 - 2:31 pm
It'll be a very long lineup at the " licence desk ".
And the market place will be deserted.
Stage will be empty.
The one leaving town will be full.
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
April 28, 2010 - 4:58 am
Would you please name some of these specialists ?
St George dried up in very poor style this week, so we need to make a move.
Any ideas would be appreciated.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
April 28, 2010 - 2:45 am
If it means cutting out future trailing commissions, it should mean a proportionate increase in immediate commissions and consultation fees.
Brokers have to live.
I bet all the Brokers would like to have reciprocal rights to " adjust "   pollies' income so as to " clean up their industry. "
Pollies are brazen hypocrites. Canberra and  Macquarie St should clean up it's own act first.
cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
April 26, 2010 - 1:37 am
Hey Jaffasoft
There's a good upbringing and education, hard work fresh air good values and knowing where the food really comes from.
That'd be a buzz running a guesthouse farm with city kids, very rewarding.
Knew a guy just past Dandenong in Vic who gave up slogging with the farming and turned his acres into a western style horse ranch for girls only, boys not allowed, just girls and horses, and they flocked to it, many kept their horses there full time, parents happy to keep writing the cheques, the parents were like " hey, did you say no boys ? OK how much do you want ?" western style, bunkhouse, ring the triangle for meals, trail rides, in house events, campfires, good horse fencing, big tack room, all totally horse and girl focussed, chockers every holidays. It saved the farm and their backs.
Good time for a new broker to enter the market, last year they starved. They market is going very well now.
We split our freehold motel into a lease, and as soon as we did, the first looker bought the landlord side of our lease, and the tenant part is being looked at closely right now, and should sell next week.
As you and your uncle probably know, the successful brokers have high ranking (Google ranking / SEO ) websites to attract buyer enquiry, live on the road to find the listings, with first class communications and fast callback times, good rapport with finance, and the good listeners win. Good luck to your uncle and family, we wish him well and with a god team around him and their runs on the board in hospitality they should do very well.
Our plan is now well under way to own 3 leaseholds run under management, ROI typically 20%. Good brokers make the searching, buying and selling possible, we value their services.
Don't remember Big Brother except the Qld rubbish, do remember Blue Heelers with a young heart throb blond guy cop called Ben, is that the one ? It was filmed at the beautiful old pub at Como, NSW, which unfortunately burnt down later.
When your uncle is operational, put his details on here and we'll give him our listing of our leasehold, if it's not yet sold.
Anyone wanting a good earning motel leasehold in Central western NSW call me, $365K with ROI 30% and free 3 brm home thrown in, genuine 8 years of figures, we're upscaling.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
April 25, 2010 - 12:27 pm
Great idea to get with someone who has good existing relationships with Council, my last experience with Council in this area didn't end well, with Council saying they had " no authority to approve any construction ex post facto" which I discovered in the dictionary as meaning "after the fact", so they refused to approve anything already built on principal. A good relationship may have moved the mountain.
good luck
cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
April 18, 2010 - 6:12 am
. . . . and when the Banker raises loan interest rates to 12% and you're still in positive territory . . . .
It's always good to know your Banker's IQ, depth of vision, and creative investment limitations.
cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
April 18, 2010 - 5:33 am
Asking a pacific islands based solicitor if you should become a client is like asking the barber if you need a shave, and you might get scalped either way. had 12 years in the south pacific, been there done that, lost everything, never again. well known as a graveyard of entrepreneurs and investors.
cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
April 18, 2010 - 5:17 am
Hi Sstrache
Questions.
Which part of the lease are you intending buying – the tenant or landlord ?
Are you going to operate the motel yourself, or under management ?
What price bracket ?
Location or town – Where ?
How old is the building ?
How many rooms ?
Star rating ?
With or without restaurant ?
What's the nett after rent, turnover, and rent ?
How many years remaining on the lease ?
Answers to your questions.
1. If you amortise the lease cost per year for the remaining years of the term, then it should be a cost attributable to each year, but tax deductablilty is a question for an accountant familiar with your particular circumstances.
Most new leases are 25 – 30 years, which if on-sold before they reach 23 years will still be regarded by most potential purchasers as more then enough and rather like a double life sentence and unfortunately more than most offenders get for 1st degree murder these days.
2. Finance beyond 50% is rare to my knowledge, and getting finance at all depends on the lender and on you satisfying them that you can competently operate such a business and service the loan. Suggest you talk to one of the finance brokers on this forum who have thousands of posts to their credit helping others with finance.
3. Haven't heard of commercial loan terms beyond 15 years with motels. Whether they provide you (interest only) IO or P&I loans depends on the lender, your circumstances and the property etc. At 50% LVR, which is onerous really, I personally don't feel like funnelling any more money back to them other than interest each month than I have to.
Happy to give you any help I can.
Cheers
thecrest (motelier)
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
April 18, 2010 - 3:32 am
There are also some very helpful financial advisors and finance brokers and other professionals on this Forum but particularly those with thousands of posts to their credit to show thay have been on this forum helping people for a long time, and I personally feel they deserve our business before others who may have something to contribute but to date have contributed nothing.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
April 18, 2010 - 3:27 am
You're already on track – you're using the Forum as it should be used – for doing your due diligence on a scheme before parting with funds.
Funny how the funds are up front and real money, and the promises are scheduled to be delivered later and haven't materialised yet, and $45K !!!!! Struth.
$45K is another house as you already know, suggest you keep learning fast, as you are doing now, and get your 'financial education" working for you, and don't go giving away houses.
Also suggest you have a chat with one of these finance brokers on this forum who have thousands of posts because they have been helping forumites here for years, because the ability to make serious money is not only determined by the quailty and profit on each deal but also determined by your ability to structure your investment vehicle (eg. trust, company, whatever) and to continue to finance more deals.
Good luck
cheers
thecrest

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