Even Christchurch (one of the largest cities in NZ) has been weird for vacancies in certain types of properties, or at least it was for a few weeks during winter, when it was cold and rainy (funny that, nobody wants to move!) So Gore eh. What tenants there are in Gore just aren’t picking your house. Why? Nothing wrong with the house, it’s just…[Read more]
Apropos Queenstown, I’ve been here for the ski season in a property we bought half for lifestyle (think lord of the rings views every morning, walk to town!) and half because when we vacate, we can rent it for a 20 percent return. And yes it’s ‘worker’s accommodation’.
They are cheap too, under 75k. let me know if you want one as because I’m…[Read more]
I would liken it to buying a new car for capital gains. Nuh-uh.
HOWEVER there are some people who just can’t relate to second hand skanksville houses on the edge of town or even further. Those people who insist on purchasing brand new should (please promise me this so I can listen to you thanking me later not whining) – endeavour to purchase at…[Read more]
Oh gee, little did I know I was being so contraversial. You know how there’s good debt and bad debt? Well, credit cards used for consumer goods is bad debt, but credit cards used for income producing assets – hey, nothing wrong with that.
Take the emotional baggage out of the word ‘credit card’ for a minute and look at it as an easily…[Read more]
glad to hear you are sorted with your $82k needs 10-15k work in Allen Bell drive.
As far as “I would never in a million years think of investing in Kaitaia, ” goes, I have so experienced that before, don’t they say “the locals are always the last to know what they had going on under their nose!”
Who are you using for a rental manager…[Read more]
ask a RENTAL manager who is NOT connected with the sale of the property you are thinking of buying!
I.e. if the property is listed with Lambertons, ask Harvey’s rental manager what they think – and vice versa. You will find that the story will vary. The selling agent will say ‘this property will rent for $165 a week’ and the one not selling it to…[Read more]
If it’s your first property I wouldn’t recommend anything too tricky. A bit daunting. Just buy one in a more ‘normal’ way first – go see a broker (wizard, ANZ, BNZ, etc) and go see how much you could borrow. Let’s say they do their fancy calculations and they come up with 100k. (probably more but let’s say worst case.) And let’s say they…[Read more]
Just trawl through the suburbs you are interested in, check out what’s available for the price in the various areas.
All the Auckland rental stats by suburb are available here
so it you cross-check rents against property prices on…[Read more]
I agree with all comments. To me it’s not a ‘proper’ investment as you don’t have any control over it. The person who made the money here is: in order: the person who renovated/built the block…the person who organised the furnishing of the units and the management of them as serviced apartments…
not the ‘investor’ being lured to buy them on a…[Read more]
Re: vacancy rates, on our CD we outline how we get *today’s* vacancy rates on any towns we are investing in, even where no such data exists!
Shameless plug but the question does happen to be one of the 120 most frequently asked questions about investing in NZ (collected by me from clients over the last two years) which we answered on our…[Read more]
CF+ve = you can hold the property painlessly
CG’s = you make money if the property goes up in value
idea – buy CF+Ve where it will go up in value.
it is no more speculation to buy for capital gains in a town that is experiencing growth as it is for Statistics NZ to predict future growth for the next x years.!
(well then they’re…[Read more]
Good on yer Nigel!
If you don’t know the market then get advice from someone who’s out there making money and doing profitable deals. That doesn’t mean you have to use a bird dog to find such a deal, but rather than doing nothing, if you don’t have time or confidence to go over there and learn the market and do it yourself, you could do a lot…[Read more]
Listen about the 99 percent versus the 1 percent, when I was yelling about CF+ve being on every corner 2 years ago the forum was full of 99 percent of people saying you’re mad, you won’t get capital gains, it’s so risky etc.
well those that did buy then when it was supposedly so risky did the best. Then it made it OK for a large crowd to follow…[Read more]
thanks for that westan
All those deals Vicky found were fabulous but they are all gone now. However I will have more, if you wanted to join our list it is completely free and we pitch deals to clients on spec.
More information is available here
I probably sound a bit like a seminar here…[Read more]
Hi bb, del, maximus,
thanks for your kind words, haha, bb- well haven’t we come a long way from the shi$#%tfights we used to have! Well if any of Steve-style has rubbed off, it is because he has been my mentor for years. i have been to that seminar over and over again (it changes slightly every time of course to reflect the strategies needed for…[Read more]
“Harsh comments on this topic from a friend of mine from the UK:
“If you bought anything for 18-40K pounds in the UK especially around Manchester then you would:
1. Be buying in a disaster area full of druggies, pimps and wino’s. ”
Haha, sounds like what Auckland w@anker friends of mine said mid-2003 when I was buying cheapie houses in…[Read more]
and BTW I love your name!
“skillful investors don’t waste their time reading or even stay away from all these predictions/speculations about property market? ”
Let’s say Steve is skillful. Damn right he reads stuff. And if I am skillful then I only got that way by reading, seminars, talking to other investors, keeping up with the market…[Read more]
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