[JaneLMember@janelJoin Date: 2011Post Count: 8]

July 22, 2011 - 4:15 am

Thanks all for your help. I have learned heaps.
Cheers,
JaneL

[JaneLMember@janelJoin Date: 2011Post Count: 8]

July 22, 2011 - 4:12 am

I spoke to a local agent who gave me a figure for land-only, then commented that I knew more about the local property market than he . I added the replacement cost of the buildings, used a formula to calculate the business value as a going concern and then rounded up to take account of the other included assets. The final figure was less than I hoped for, but reasonable and felt accurate.
Thanks everyone for your help.
Cheers,
Jane

[JaneLMember@janelJoin Date: 2011Post Count: 8]

July 16, 2011 - 12:27 pm

Thanks Otto. Would a smaller block, say 200ac with house (our home title) that’s worth less or the same as the loan be more viable?

[JaneLMember@janelJoin Date: 2011Post Count: 8]

July 16, 2011 - 12:11 pm

Thanks for those references Scott. Am looking!

[JaneLMember@janelJoin Date: 2011Post Count: 8]

July 16, 2011 - 12:06 pm

colinnewland wrote:

Asking a silly question? Why do you want to rid yourself of a cash generator?
Are you looking to retire or to move onto other projects?

It’s a very relevant question, Colin. And the answer is: downsizing to other projects. An unexpected but desired opportunity presented itself recently that is both a downsize and perfect for our long term goals. And as much as I love our lifestyle (a 20hr week each for two people), I frankly find it a bit boring and I want more challenge. This new opportunity will give us the challenge and return we want.

Quote:

If you need cash for additional projects, why not borrow against the equity you have built up to 'x'ly your IP projects?
Failing that, if you still want to sell up and get out, why not borrow, use the equity while you wait for a buyer…it sounds like this will be a narrow market and will take some time to sell?

Love to. But what sort of loan could we get? We can’t make more than $1000pm in repayments until we sell our main property .We need $500k to buy into the opportunity we have found. How can we make this happen with equity without being forced into a firesale in 1-3yrs time if we don’t sell for our desired amount? Is there a low-stress work-around for bridging loans and the like?

Regards,
Jane

[JaneLMember@janelJoin Date: 2011Post Count: 8]

July 16, 2011 - 7:21 am

Thanks all for your input, I really appreciate it. We’ve never sold anything like this before.

We want to value it for sale. We would like to include the going business concern. We’ve got bookings, a good online presence and we attract media attention. We’ve been operating for 2 years with one venue, 18months with the other. A new owner would be able to make money from day one. There is much room and demand for another one if not two venues.

Regarding valuers and agents. We are in a rural area. We know some of the local agents personally and think they are too dumb, for want of a kinder word, to appreciate what we think are the property’s values. They know how to sell paddocks that have been supered for decades, not a mix of lifestyle, organic and tourism with a mind-tripping landscape. Ours property falls definitely into the ‘eco’ category and they wouldn’t have a clue. There’s nothing in the region like we have.

Considering the above, should we employ a city/coastal agent who better understands our potential market (city/coastal folk looking for a lifestyle business) or should we employ a local agent who knows the locale but won’t really understand our property or our potential market?

Many thanks,
Jane