If you’re looking for good investment opportunities, try selling properties in the South Coast of New South Wales. This area is truly a melting pot of different cultures. It’s known for its beautiful landscape and historical sites like Newcastle, Albury, Wagga, Orange, Coffs Harbour and Wollongong. As tourism is fast becoming a boom in the area, owning a motel business can be a profitable venture.
Research on Properties for Sale
To buy a suitable motel for business, you need to get correct information on motels up for sale. You can search through the Internet or from leading Australian newspapers that carry these advertisements. Property specialists from resortbrokers.com.au suggest contacting the leading real estate brokers in the area who can give you some good leads on what’s suitably up for sale. You also need to look at the location of the motel. The closest to the coast will make better buys because of the scenic beauty of the area that can attract more people. This means more customers for you.
Check the Motel’s Features
Location is the most important factor in this line of business. For instance, Sussex Inlet, has become a famous tourist spot, and most hotels in the area are converting themselves into motels because many people prefer to drive down to visit the place.
So, if you’re looking for an ideal location for your motel, a location close to the river would be ideal. This is because most people enjoy recreational activities involving water like fishing, canoeing, sailing and other popular water sports. But, before buying one, check the authenticity of its ownership and other licenses issued by the Department of Health, NSW. Also, research on the experience and efficiency of the staff and what have been the motel’s profits over the last five or ten years. Also, ask the owner why he wants to sell despite making profits. This will give you a clear idea of what to expect when you become the owner.