Hi MI.
In your plan, is someone going to live-in and run it and on what payment basis ?
Cleaners? Maintenance ?
Cheers
thecrest

Painted our 6 x 2 brm villas recently at our motel in Wagga. Doing painting all day created very peaceful days of de-stressing , plenty music, time to think, and very rewarding financially and otherwise. Throwaway roller sleeves reduces cleanup time, plenty of small plastic disposable handheld tubs, a damp or wet rag always ready for minor spills n drips, and good lighting for ceilings essential. Appreciate the info on spraying, might try that next time.
Cheers
thecrest

Hi QM.
What kind of businesses are in the strata plan ?
How many? Who manages it? Who controls it ? What state of Australia ?
This was posted a few months ago QM, are you still interested or has this opportunity ceased for you ?
I’ve had experience owning a commercial property in a strata plan which I’d be happy to add here if you were interested.
Cheers
thecrest

• This reply was modified 10 years, 4 months ago by  thecrest.

On a negative note and from someone who lost everything in a corrupt paradise, me.
In corruption rife areas, you need protection, like an umbrella group, and it helps to have well connected legal representation in country. Do you have an exit strategy ? Remember, there is no democracy or natural justice in corruption rife areas, talk to the Australian Embassy there, as well as other expatriates already living there with established businesses, just to get an accurate outline of the entry startup biz system warts n all, and ongoing biz survival system. In a corruption system, there are always predators and justice between antagonists is a matter of who has the more powerful friends or connections and who paid whom more money. Many tropical paradises are graveyards of starry-eyed entrepreneurs’ dreams and business plans and capital. Some are successful.
Cheers
thecrest

Hi Paul.
Where’s the motel ? We travel a lot and would prefer to stay with a Forum member’s motel if pos.
Cheers
thecrest

Hi Paul.
Thanks for the awesome details of what your day is like, sounds like ours. Where’s the motel ?
What’s the resv system ?
At the moment we’re the relief managers at our own place, giving our managers some time off.
It’s quiet in Wagga this time of year, and so cold. Thrilled for your success, well done.
Cheers
thecrest

Would they get 50% of bathrooms as well ? would they have equal access to everything else ? Garage? Storage?
Good luck
Cheers
thecrest

Did your solicitor advise to do a presettlement inspection ?
What does your solicitor have to say about the goods in question ?
Looks like the receivers have cleared you for disposal of the goods.
But in my experience the abandoned goods legislation is rubbery.
Good luck.
Cheers
thecrest

Search the Forum posts, I remember someone mentioning a few weeks ago they bought off the plan in Gladstone, and now is time to settle and they have to settle and it’s a purchase at a loss, because values have fallen after coal market declined. I noticed receivers were recently selling Rusty”s Motel in Gladstone, now rebranded as an Econolodge by Choice Hotels (budget category), so looks like someone bought it. Might be worth talking to.
Good luck
Cheers
thecrest

Sounds like your PM has been doing an ok job except for paying monthly instead of fortnightly.Just insist. Most landlords and most agent’s software pay fortnightly to get the interest benefit for the property owner.
I’d be suspicious if the tenant wants to deal with you direct instead of the PM. Might see you as vulnerable which you are if you don’t know how the laws work, and they’re complicated.
I agree with others that you’re better off with the PM.
Cheers
thecrest