Recent content by Hulkster

  1. Hulkster

    End of an Era

    Thanks for the memories and best of luck with the new forum. Maybe Dazz will be Dazzarus and rise from the dead. I miss the tough love.
  2. Hulkster

    Rewarding good tenants

    I've spent ten out of the last 15 years renting in Sydney and Melbourne and have decided that inspections during tenancy are a myth. I think LL's get lucky rather than have good PM's based on my experiences.
  3. Hulkster

    Rewarding good tenants

    Who knew that so many somersoftians first IP was an ivory castle :rolleyes:
  4. Hulkster

    Rewarding good tenants

    Some posters in this thread seem to have difficulty differentiating between a reward and fulfilling your contractual obligations. Landlord receives rent, tenant receives right to occupy. This is not a reward on either side.
  5. Hulkster

    What happens to borrowed equity if property prices crash

    Not sure to be honest - most of what I saw concerned the pub type of hotel rather than the accommodation type. They were a lender of interest as they did 70% LVR on pubs, then apparently decided they were over-represented in that industry.
  6. Hulkster

    What happens to borrowed equity if property prices crash

    Bankwest shafted a large percentage of their hotel owning commercial customers a few years ago this way. Order a valuation on the security with instructions it be a fire sale valuation. Valuations came back far below previous valuations Margin calls placed on those whose LVR is now out of...
  7. Hulkster

    Bundaberg Council and new rules re backpackers and itinerant workers.

    http://www.bundaberg.qld.gov.au/files/LL8%20%28Rental%20Accommodation%20Other%20Than%20Shared%20Facility%20Accommodation%29%202011.pdf Says its 2011 Law so hardly a new introduction. Perhaps enforcement is new.
  8. Hulkster

    Make Offer on Business Opportunity

    This. You are trying to hard to force this to work. The opportunity of a lifetime comes around about once a month. If the guy is in a hole financially it is because of this business. Chances are you will be the next person in a hole financially because of this business.
  9. Hulkster

    Make Offer on Business Opportunity

    Things that jump out are => depreciation => rent from personal premises => lack of licence fees - No music played? No food on site? No council place of assembly required? => check insurance coverage to make sure it includes public liability, business interruption, building and contents...
  10. Hulkster

    Make Offer on Business Opportunity

    Whats the split on equipment/stock and goodwill? Ask for copies of bank statements to prove income My main experience is in hospitality businesses where most of the time, value was 3x net profit. In your case this would be $30k. I'd be very concerned about this one - hope you have a tonne of...
  11. Hulkster

    Have you ever paid over asking price?

    Once from memory. House in Tas was advertised for $94k around when things where booming down there. Rented for $180pw. At open agent told us best offer was $94k, full asking price. We offered $94,100 and got it. Sold it 2 years later for $185k
  12. Hulkster

    Broken hill your thoughts?

    Walk In Walk Out - no extra to pay for stock etc
  13. Hulkster

    How do I find the owner? Bad real estate

    Top thread, would read again
  14. Hulkster

    Tasmania

    Not quite. Circa 240k workforce with 27k government employees so roughly 10% of the total workforce is employed by government 61% workforce participation rate and 6.5% unemployment.
  15. Hulkster

    Toxic attitudes

    Sounds a lot like the 2015 edition of Somersoft ;)
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