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can you buy the whole block and re-develop at a later date as private rentals?
Hotel rooms are not a property investment they are a business joint venture (with everything that that entails).
i knew a guy/a mate through a mate that is? who bought the old out back pubs in NSW he got them for about 200<300k as the bush was suffering and these beutiful old pubs strugeled to make a doller , this is what he did,
ha purchased the building, and applies for a hiserical society grant and got them painted up real nice, the grant was 150k and paid some locals 50k to do the work, he then took the pokie licence and sold it to some city pub for 1mil and then sold the bottem sections as a drive by bottel shop and bistro for another 400k and the other half to a sydney couple ready to dream and run a bed and breaky for another 250k not bad eh!
As you have posted in this forum, where the questions can be asked.Hi, I have a tonne of motel deals I get constantly and am enquiring whether anyone would be interested in rooms with 10% return in major mining town emerald queensland? looking for buyers at 125k each
Is the 10% guaranteed? What are the long term prospects of the mining industry in the area?10% return in major mining town emerald queensland? looking for buyers at 125k each
pm me if your interested
Is the 10% guaranteed? What are the long term prospects of the mining industry in the area?
James W
For $1.5mill that must be a small motel. As you can't get flood insurance, how far did this motel go under water during the flooding of Emerald this year?
Kinga