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  1. #16
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    Dunedin

  2. #17
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    Our own home + two rental properties + still got two wraps going.
    All in Queensland.

  3. #18
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    I don't own an investment property, rather on the other end - a tenant. Got back from the overseas in the middle of the boom, and decided to sit out, rather than add to the hype. Plus also such a hard place to find a decent house.

    Worked out where I am sitting with rates, insurance, maintenence and mortgage, plus money under investment, prices would have to increase by 5% in the coming year to be on the winning side - not likely.

    My dislike of real estate agents is heightened by the fact our place underlet, good for us, but absentee landlord for whom an estate agent manages. They under-let it, as the agents want to buy it!

    Think alot of people will start to hurt on their rentals, once they come off fixed and rents don't meet the mortgage!

    SSB

  4. #19
    Senior Member
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    Fukuoka, , Japan.
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    quote:Originally posted by Sideshow Bob



    My dislike of real estate agents is heightened by the fact our place underlet, good for us, but absentee landlord for whom an estate agent manages. They under-let it, as the agents want to buy it!

    SSB
    I don't understand what you mean by underlet.

    Do you mean the agent has beeen given the power to decide the amount of rent by the landlord and has taken advantage of the landlord by setting it lower than the market rate and is at the same time offering to buy the property at a-below-market-price?
    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
    The informaton you can obtain costs more than you want to pay.

  5. #20
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    quote: Originally posted by rmbbrave:

    I don't understand what you mean by underlet.

    Do you mean the agent has beeen given the power to decide the amount of rent by the landlord and has taken advantage of the landlord by setting it lower than the market rate and is at the same time offering to buy the property at a-below-market-price?
    The agent, who looks after our property (note agent, not agency) sets the rent, given their knowledge of market conditions etc etc. Owner lives out of town.

    They have taken advantage, in letting at a price slightly under market rates, not that I am complaining at all. Given what else is around and what another agent has told me, about 10% below.

    The agent is not trying to buy the property at present, but the agent has tried to buy the property off the landlord in the past, and has said to me that they are still very keen.

    SSB

  6. #21
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    I've recently completely refurbished a modest 3bdrm house in Linwood for another landlord. He paid $200k for it plus another $15k repairs etc. For me the numbers just don't stack up.. Ten weeks now and not tenanted. He'll be hurting and he won't drop the $290 asking rent.
    Negative cash flow - ugh $45/week. [xx(]

  7. #22
    Kanga ru Xerof's Avatar
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    I've got forestry on land about 10 km inland. My long term plan is to harvest the trees in 25 years time, but not replant. By then, what with global warming raising the sealevel, the waves will be lapping onto the front of the property, and I'll be able to hawk the land off as coastal sections for an absolute mint.

    Anyone want a share of this - its a dead cert.....

    Xerof

  8. #23
    Gold Member SEC's Avatar
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    quote:Originally posted by Xerof

    I've got forestry on land about 10 km inland. My long term plan is to harvest the trees in 25 years time, but not replant. By then, what with global warming raising the sealevel, the waves will be lapping onto the front of the property, and I'll be able to hawk the land off as coastal sections for an absolute mint.

    Anyone want a share of this - its a dead cert.....

    Xerof
    If that's your plot of pine trees up on the Port Hills I think you're being a bit optimistic.

  9. #24
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    Banks' Peninsula will subside and drown Xerof's pinus - wrongly assuming that these trees are on the Port Hills. E's from Havelock Nth eh?

  10. #25
    Kanga ru Xerof's Avatar
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    Nothing wrong with a damp pinus Longtack

    Spend a bit of time in the bush but the pinus is dry most of the time[^][^]

    regards

    Xerof

  11. #26
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    Soak in H5 treatment thricely to prevent stump-rot Xerof - just to be sure, to be sure, to be sure. [:I]Tax return is very dull.

  12. #27
    Kanga ru Xerof's Avatar
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    Thanks Longtack - tried that and its definitely increased the radiata[^][^]

    Xerof

  13. #28
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  14. #29
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    As for my real estate have 3 properties with 4 houses with 5 tenancies in the Henderson / Massey. Brought in West Auckland up to 7 years ago as area showed very good rental yields and was valued lowly compared to adjacent suburbs. Have bought double sections or double tenancy properties to maximise return. Recent purchase (1 year ago) in Henderson will yield 100K capital gain when subdivided and built on and the property market does not even need to rise for this to happen!

    At this point in time would only buy if there is a sizable and instant capital gain to be made (subdivision) but otherwise will not be buying with the current yields being offered.

    Rather currently concentrating on buying shares at discount at the annual clearnace sales of the ASX and NZX.

  15. #30
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    DOUGH boy, To get the maximum return on what you are doing you can get a 2brm granny flat, max size 65 sq metres on the property, without subdividing. The advantage being no subdivision costs, cheap rates for the increased return. If you are buying a property with this in mind, a corner site is best with the grannyflat site higher than the house site. The corner site is great if you can come in from another street making the granny flat look like a seperate house next door. Remember the 65 sq meters in your area is living area, so build the laundry in the garage. All drains and services hooked up to the origonal house, that is why ground level is important. macdunk

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