Tips For Purchasing Management Rights - Where do I start?
During my time as a resident unit manager I lost count of the number of times I was asked that question by happy holiday guests. And so with my explanations began the germ of an idea for another possible entrant into this unique and rewarding industry.
As with many business ventures the idea that starts your thoughts along a change of lifestyle track should be backed up with research, research, research.
Sitting down with a Specialist Management Rights Broker over a coffee would be a good beginning. Most specialist brokers have owned & operated their own Management Rights & can give you a practical overview of the industry. Through experienced questioning and listening they can get an idea of your needs, wants & expectations and so help you find the right property.
Your next step should be to consult with a Specialist Management Rights Financier to confirm your nett worth. i.e. how much cash and or other equity you are willing to put towards a purchase. They can then explain their lending parameters and provide you with a broad indication of your upper borrowing limit.
Once this is known your broker will provide you with more detailed information on properties in your price range. At this stage you will want to study the information, ask more questions of your broker, your accountant, and perhaps an existing management rights operator or two.
As with many business ventures the idea that starts your thoughts along a change of lifestyle track should be backed up with research, research, research.
Sitting down with a Specialist Management Rights Broker over a coffee would be a good beginning. Most specialist brokers have owned & operated their own Management Rights & can give you a practical overview of the industry. Through experienced questioning and listening they can get an idea of your needs, wants & expectations and so help you find the right property.
Your next step should be to consult with a Specialist Management Rights Financier to confirm your nett worth. i.e. how much cash and or other equity you are willing to put towards a purchase. They can then explain their lending parameters and provide you with a broad indication of your upper borrowing limit.
Once this is known your broker will provide you with more detailed information on properties in your price range. At this stage you will want to study the information, ask more questions of your broker, your accountant, and perhaps an existing management rights operator or two.
