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  1. #1
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    Default Who here actually owns investment properties?

    Been reading through the posts in this topic & i'm beginning to wonder which posters in this forum actually own investment properties themselves. Anyone willing to reveal?

    I'll kick it off for the sake of reciprocation. I own five & manage another ten for my family. All residential, all in Auckland. All up, about 10 years experience.

  2. #2
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    Have done but cannot stand the hassles 10 years since I have held any. Far better returns from shares with practically no hassles.

  3. #3
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    I owned five houses up until last year when I worked out it would be smarter to invest the funds elsewhere. My properties sold for yields of about 6% and the new owners are all losing money in the beginning by about 3% of the value of the house which to me is simply bizare.

  4. #4
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    own 3 houses, since 91,95 & 02, yeilding 8.8% on cost price, 4.6% on value. It's all self funding and pretty much self sufficient, just ticks along year after year, now produces a surplus. Probably stick with it for a few more years, it's the first serious investment i made and much as some poke the borax at property investment it's sure better than doing nothing.... - now fiddling about with shares but not on borrowed money.
    if not you now who when..

  5. #5
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    Now own 4 investment properties in Aust plus own home in NZ. Tried the NZ market nearly 20 years ago when interest rates were 24%, but got out after 1 year because the tenants didn't value our property, even though it was fully redecorated when they when in.

    Aust investment properties were worth A$990K when we purchased them new 6-7 years ago and before GST. Now worth around A$2mil conservatively.
    All for an outlay of A$70K and using NZ equity. That's better than I could ever have done with shares, although I do believe we were lucky to catch the correction in prices in Australia.

    Very good protection and Insurance for landlords in Aus. Rents are still going up (about $10 every 6 months) but have not kept pace with the increase in property values. Have considered buying more but the prices are too dear now, compared with rents.

    Watching 'Renters' on TV I can't believe what rental managers in NZ let tenants get away with. Our tenants get pulled up if the 'edges' have not been done. No hassles at all.


  6. #6
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    I've two at the low-average end of the mkt and will get more of the same at the right price. Just waiting for those investors on 2-year fixed, with little cash flow, getting scared of 9+% and bailing out.
    Still a few opportunities available in ChCh but you have to be in the know or damned quick.

  7. #7
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    Had a few properties, but have sold down and cashed up 50% of the portofolio. One must not be greedy.
    This stock shines so bright that it \"Bling Blings\"

  8. #8
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    Own 2 commercial properties , yields on purchase price of 9.48% and 9.65% respectively, both in Auckland CBD. Rent reviews linked to CPI and good long leases, capital gain not that flash but ROE since purchase averaging about 13.5%. Locked in at 7.20% a year ago with another 24mths covered ... hopefully rates will have fallen by early 2007. Absolutely hassle free investments. Mortgages will be paid off by 2013 when the rents will probably be around $75k combined. Currently throwing off arond $1500/mth positive cashflow.

    Also own approx $120k in Aussie and Kiwi listed property trusts.
    nelehdine

  9. #9
    Gold Member SEC's Avatar
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    Have disposed of my rental properties over the past four months and dripfed the equity into ASX stocks at appropriate times.

    I'll be back into property but not at the moment. Timing the market is far more profitable than time in the market. And with residential property, the only time you make money is when you sell (less 5% f¨cking transaction fees).

    SEC

  10. #10
    FEAR n GREED JBmurc's Avatar
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    [quote]Originally posted by SEC

    Have disposed of my rental properties over the past four months and dripfed the equity into ASX stocks at appropriate times.

    I'll be back into property but not at the moment. Timing the market is far more profitable than time in the market. And with residential property, the only time you make money is when you sell (less 5% f¨cking transaction fees).

    yeah bloody agents[}] have made 50,000 out of me this last year sold down 4 of property investments(spec&rentals) now only one property spec, starting next week.
    will be investing spare funds into ASX over the next couple months
    started with 80,000 AGM shares today ,great med-long term buy


    People don't have ideas, ideas have people

  11. #11
    Gold Member SEC's Avatar
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    JBMurc, I prefer MCR - makes money, pays dividends and Comsec margin lends against it.

    I note everyone responding to Westie's question has either sold down/out or held their investment properties. Certainly no-one is buying residential property.

    SEC

  12. #12
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    The people buying property in the last 6 months are the suckers who are gonna take the fall. They're the poor morons who have waited & waited for the "right" time, when they think there is no risk in buying res property as everyone is making money on it so it must be a sure thing !

    I was talking to an agent about the market in my city and he says all the locals have stopped buying as they think the prices are
    b u ll s h it.

  13. #13
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    CDT18 which city please

  14. #14
    FEAR n GREED JBmurc's Avatar
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    quote:Originally posted by ENIGMA

    CDT18 which city please
    Queenstown's market is certainly overvalued by at least 20% [:0]
    5 odd years of 20% growth per year is coming to a end
    as will some of the highly geared development companies[B)]

    People don't have ideas, ideas have people

  15. #15
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    Default

    quote:everyone responding to Westie's question has either sold down/out or held their investment properties. Certainly no-one is buying residential property.
    Actually, I bought in Jan & Feb. The Jan purchase was for myself, my first home. It was a deceased estate so I got a standalone 2 bdrm house 400sqm about 100m from water for $210k. 2 bdrm units in the area are going for more.

    Also bought a 1 bdrm unit yielding 9%, for about 8% less than CV. Owner was overseas so keen to sell. Never owned a 1 bdrm unit before, suprised by the high demand but it does make sense in this climate.

    Although I understand the concerns of the others on the forum about the likely hard times ahead, I've owned through 1 cycle & I'm not yet 30 so buy & hold is fine for my time horizon. I have become a lot more picky about what i'm buying now though, the situation/odds really needs to strongly favor me as the buyer.

    Love to hear if anyone knows of reliable ways to ferret out deceased estates. They are great buying if you can find them, can buy with cash, & offer fast settlement.


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