Hi everyone
I'm new to this forum. We've just signed up for a course in Property Investing with Robert Kiyosaki – it's great fun.I'm not in a position to buy right now so we're trying to help other investors that are looking for a great deal until we can build up our capital.
We have found a block of three flats, each are two bedrooms that are selling for $90K less than valuation. The guy selling them wants a long settlement (sometime at the beginning of November). We have the valuation (done last week) and loads of photos if anyone is interested. They're all tenanted at the moment – for around $240 a week. The properties are $195,000 each with a valuation of $225,000. He wants to sell all three together.
If anyone is interested please contact me: [email protected] (I hope these kinds of topics are allowed on this forum!)
Cheers
Colleenand whats your stake of interest ?
I get paid a finders fee at a set price regardless of how much the property sells for. I don't own the property or have any interest in the property apart from finding a buyer.
Why are they selling for under valuation? What area in NZ are they? It's a funny market NZ right now! With the NZ dollar the strongest it has ever been (i think) and property prices having had really good growth the last few years it's questionable whether we see it continuing to go so well! Tell me your thoughts
The market is flattening out now. House prices were really high recently but they've started to slow down. The NZ dollar was a lot stonger over the past few months. You're right though, it's been doing crazy things lately. Up one minute, way down the next but recently it's looking ok – more middle of the road rather than extremely high or low.
Why is he selling below valuation? He's a property trader. He managed to get a really good deal on the properties and has deliberately priced them this way to make it attractive enough for an investor to take advantage. We've seen the properties ourselves and they are really nice. Two have recently been done up. The valuation is extensive, 30 pages for each from memory – and it's current, about 2 weeks old now I think. I guess it would be good if someone wanted to live in one and rent out the other two and all the while taking advantage of the equity to invest in other properties. The units are in Papakura, Auckland in a quiet cul de sac.
Happy to answer any more questions or chat about general property stuff.
Are you an investor? What's your history? Have you just started, or been in it for a while? Would love to know more
Colleen
Yeh im an invester and a buyers agent
i own two negative geared properties, one in sydney, nsw and one in morayfield, queensland. Ive experienced about 16% growth in my portfolio over the last year and a half and am yielding about 5% in return of rent. So i am not complaining, the Sydney property is bringing the average down a little, but im not really fussed as they are both showing a paper profit each year in capital growth – costs.Recently I have been looking into overseas property, mainly in the Phillipines where i am finding pretty good yielding properties and with the right purchases you can get strong figures such as 25% return on investment per annum. I have only been studying it for a few months and am slowly building up some contacts before i leap into the market.
I know of a guy that is married to a lady from the Phillipines and he said the real estate over there is a lot better than here. Much higher returns, which is what you have said too. Might be worth looking into. Does it look hard to get into given that we're out of the country ?? Or actually, I think the guy that we spoke to mentioned that they've just opened it up to overseas markets …. ???
I haven't found it too hard because my background is half filipino so i have old relatives from over there who can speak the dialect and check things out for me !
I can keep you up to date when i get some good real estate contacts over there if you like, i am travelling there in january to scope it all out
Ah lucky you. Milk it for all it's worth!
You've got a great head start then.Yes please, we're always keen to learn of new investment opportunties. CAn I ask you if you know anything of lease options?
HI Colleen Jeffs,
Like you I am starting out too and its great to see you out there giving it a go:)
May I ask who did you learn from ? I.e. your property investment education? And how was Robert K's course? and where was it and how much did it cost.
I am very keen like you to learn about property investment and so would love to chat with you when you have time
Add me on msn [email protected]
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