There are many motels for sale in Brisbane, but you need to research well and look around a bit before you get some good deals. To buy a motel you will need a finance specialist as motel financing is more complicated than other kinds of lending. There are many other ways also to buy motels and this includes vendor financing portion of the purchase or the owner might leave considerable equity in the deal.
Motel financing differs
The financing also varies depending on the type, size and location of the building. The general rule in motel financing in the case of freehold properties is that you will require at least thirty percent deposit. For a leasehold motel you will require more deposit to the tune of 40 to 50 percent. Here it depends on the other factors such as the location and the lease itself.
Call the motel finance experts
It is best to hire motel finance experts like ResortBrokers.com.au as they will be able to guide you in the right direction. They are professionals and have experience in this kind of motels and related managements rights financing. They will make you understand the different ways in which you can finance your motel purchase. Since they have the necessary experience in the field, it is best to get their help and advice. They can also help you locate good deals as they are involved in this market on a daily basis.
Other ways to finance
There is another way to buy freehold motels, and that is to sell some rooms to investors. These could be private investors who will raise the necessary money on their own. But if you decide to choose this route then you need to locate a motel that is beneficial to both, your investor and you. It becomes easier to finance a freehold motel if you make sure that you have a partner. It also helps if the partner is experienced in running a successful motel earlier.
When you plan to buy a motel or maybe another business, consider these tips to make simplify the acquisition.