A little bit about myself, 30 years in property development, land aquisition, company law, property purchase using various options and finance structures. Since 2009, I have accumulated some 25,000 acres in the USA, purchased distressed and commercial properties in both Australia and New Zealand. My purchasing methods are not for the fainthearted, they are however 100% legal.
No previous experience. Been learning as much as I can over the past 6-7 months and loving it...turned into a side passion Still keen to find out what you consider as "strategies not for the fainthearted"..
80% of our purchases are vacant land / distressed commercial, ie; pubs, clubs, hotels with DA potential. We don't and wont do houses, apartments, investment properties or blocks of units. There are a complete waste of time and money. The strategies we use are hard hitting, you don't need money to buy, you just need an attitude and a plan to get the deal over the line. You also need to be able to think outside the square.
I'm guessing you mean they are a complete waste of time and money in the US where you are buying? They have served me very well here in Brisbane.
I'm not in the USA, based in Sydney, never bought them in the USA either. In terms of income, they don't stack up. A pub bought for $900k can return $170k p/a after all expenses, sometimes more. In the summer that figure goes up.
That doesn't make sense? Why quote a 'per annum' figure then quote an increase in the seasonal part? Wouldn't 'per annum' reflect the average period of the good times and the slow times throughout the year? pinkboy
How about wine bars? Saw one for sale yesterday in Newtown for $165k, (apparently) $3.5k profit/week. Makes you wonder why they're selling.
Welcome Interested in your thoughts and reasons for being here . I'm always wary about someone who seeks to promote themselves by putting others down. As someone ( along with many other forum members ) who has made millions by investing in residential property I'd take exception to your suggestion that it's a waste of time , but I think it's a waste of time for everyone to go down that debate path . So , how about you tell us in detail , what you do and how others can do that . There are many forumites ( including myself ) who have gone into great detail about how they invest . If you want to gain any respect here and not be dismissed as yet another big noting spruiker , that's what you need to do . A great example of a member who promotes their business while providing info ie euro 73 , along with several of the mortgage brokers . Cliff
Makes sense to me. You can't determine what a customer will and will not drink, in terms of tap or top shelf, nor can you guess what he will and wont eat, each has a cost attributed. Same goes for rain hail and shine, you cant predict that either, but each will have an impact on your patronage and your tills. You also dont know who's going to walk through the doors. You can budget for 12 months, and then get a flyer saying there's going to be a golf tournament held next door over 14 day's. Your then running around like a blue arse fly trying to get more stock..
Make an inquiry, find out. Could be the clients, could be the noise, could be they might be retiring.
I have to agree with pink boy . The pa figure includes all the fluctuation during the year . If you don't understand that ...... Cliff
