Hi People,
I know there was one thread a long time ago on this but I was wondering if there might be some updated ideas. I've got this rural place for sale near Forster, NSW for 330K It's a bit of a difficult property to move. I've been trying to sell for about a year. I've got someone has offered me a swap for a hotel they own in a small regional town in NSW (2000 people). It's currently leased to someone who is running it for $28K pa. There's 10 rooms. One is 3 bedroom. The rest look like single rooms. 11.5% + outgoings is not a bad return. I'm wondering what development potential there is for this. The block is 1300sqm. I was thinking the rooms could either be rented out permanently or possibly strata titled. I don't know how regional councils feel about this.
Cheers, Lee.
I know there was one thread a long time ago on this but I was wondering if there might be some updated ideas. I've got this rural place for sale near Forster, NSW for 330K It's a bit of a difficult property to move. I've been trying to sell for about a year. I've got someone has offered me a swap for a hotel they own in a small regional town in NSW (2000 people). It's currently leased to someone who is running it for $28K pa. There's 10 rooms. One is 3 bedroom. The rest look like single rooms. 11.5% + outgoings is not a bad return. I'm wondering what development potential there is for this. The block is 1300sqm. I was thinking the rooms could either be rented out permanently or possibly strata titled. I don't know how regional councils feel about this.
Cheers, Lee.
