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  1. #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(]

  2. #22
    Guru 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

  3. #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.

  4. #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?

  5. #25
    Guru 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

  6. #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.

  7. #27
    Guru Xerof's Avatar
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    Thanks Longtack - tried that and its definitely increased the radiata[^][^]

    Xerof

  8. #28
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  9. #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.

  10. #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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