ergoudan replied to the topic Motel Purchase, Advice Please in the forum Commercial Property 5 years ago
Thanks for your advice. I ended up buying a cheap motel in 2016 and sold it in early 2021. Paid a little over $400,000 for a FHGC and the capitalization rate had been about 40-50% (net a little over $200,000 pa).
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ergoudan replied to the topic Bad Credit – Loan Advice in the forum Finance 10 years ago
You can always refinance once your bad record is wiped out :).
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ergoudan‘s profile was updated 10 years ago
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Chen started the topic Motel Purchase, Advice Please in the forum Commercial Property 10 years ago
My banker has not been able to figure out how much I may be able to afford for me, so I am raising the question here, as many motel experts are on this forum. I have little idea about the banks’ LVR for freehold and leasehold motels. It seems that for freehold the LVR is up to 70% but is also depending on whether the sale is on split contract or…[Read more]
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ergoudan became a registered member 10 years, 4 months ago
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