[biggrin]Good morning to all,
This is only my 2nd meaasge after taking over the pub nearly 6 months ago and what a journey it has been!! From the basket case that it was we now do off site catering and are now considered the best place for miles around. We also settled on the place in qld last month which was a bonus pick up as we didnt expect to buy anything for a while. have got into a routine with all the ways of running a pub and have learnt to delegate thus my time is spent doing more productive things thus looking at the forum again. been some great topic’s too!! Have set new goals for us for the year and we hope to meet some of those in the coming months and have also set aside for myself to continue my search for other property. hey simon will call you one day to have a chat. Must go off to annoy the butcher and will be back soon.
ChefmanFantastic – still looking forward to a beer at my mate’s pub!
Simon Macks
Interest Free Home Loan Agent
[email protected]
0425 228 985Commercial Refinance to 95% LVR
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
That’s excellent Chefman,
Glad to hear it’s going well for you. We considered buying a pub last year in Western Victoria, but we chickened out at the last minute because it was such a change.
Where is your pub, might pop in for a meal one day….
Regards,
Del[biggrin]Hi Del,
It is in Donald halfway between Ballarat and Mildura and the beer is always cold and really a great little town. The change has done us the world of good. Where were you looking at in western vic? By the way our pub is called the shamrock and we are the middle pub. Hope to meet you some day.Regards Chefman
Looks like you’re not regretting the decision.
From the …. interested to know…file;In your appraisal/subsequent purchase/first few months/etc, are there are golden rules/commandments you could offer to someone condemplating buying a pub?
Stuff like .. anything you have since found out that someone interested in purchasing a ale house should look into BUT may not be something that would spring to mind in the excitment ….
Thanks in advance for any assistance..Welcome to the North Central Chefman, good for you, do you know that was my mother in law’s favorite pub…Mother’s Day luncheon roast with a live musician, [to listen to,…. not to eat as well,.. although I haven’t seen him in a while…].
We are over north of Birchip, more Mallee country and a little dustier. Have you given any thought to farm land investing? On and off it has been a pretty dry old 8 years around some of these parts, [some land in about an hours drive radius], is being sold for $350 an acre, others are getting $400 to $580 an acre. Owning farm land freehold means you are able to put this land up for lease, [or lease tender]. Owner pays rates, if you are able to do a bit of due diligence ensure you don’t get the blocks that need a lot of repair, [eg fencing], make sure you have a water supply [in a drought, isn’t that easy!!], but returns can be good, as in dollars per acre, [negotiable], the freehold owner still gets their lease money, despite what unfolds with the weather,some leases can be 5 year terms, [ though droughts don’t usually last forever..is it sounding a bit like investing in residential property?]. The funding of buying this land would be rural or something tricky like that], from our limited enquiries 60 to 70%, so its not like you can zip in and 95% LVR. There have been a lot of farmers have to sell up or lease out to farmers who have weathered times a bit better, I think there was a 5000 acre property bought at Litchfield, [not far from Donald], by some SuperFund recently, they are not the only ones we have heard of either, [SuperFunds buying farms that is..]. ..There was a 20 acre [irrigation with a crop on it], property, plus a rentable house sold over north of Swan Hill not long ago for $85,000, house to rent, land to lease and crop to sell, we missed out, not quick enough.
These small towns like Donald, Charlton, Boort, Birchip etc are all hanging in there despite tough times, a credit to their communities. Really nice country people like you say, some selective opportunities for IP’s and rental properties, using the old problem/solution=profit scenario. ….Good luck in the Shamrock Chefman, St Pat’s Day should be good! Is that bullocks head still hanging over the river? Regards, Pam and Red.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
