PROPERTY INVESTMENT WHATS UP?

**duncan macgregor** · 08-02-2006, 09:12 PM

Only testing to see if the site is down. macdunk

**duncan macgregor** · 08-02-2006, 09:15 PM

WHOOPEE, Its working. What the hell happened to the property section amongst others. macdunk

**A J** · 18-02-2006, 02:36 PM

Well, I was thinking about buying my first house this year and getting other people to rent out rooms to help pay for things.

I wounder if there is any point...........I just got born at the wrong time. To be born in 1981 instead of 1985 would have been nice...

Sigh........... However my Dad says there's never really a right time to buy. I've got 5 or so months up my sleave anyway before I do anything so there may be some direction as to what things are going to do within that time?

Cheers
A J

**duncan macgregor** · 19-02-2006, 08:32 AM

AJ, GREAT IDEA. There is never a given time to buy only a time to sell in property. Its the price, location, potential value, which can be found at any time on the property cycle. Young single man it makes sense to move into a older house with lots of bedrooms rent them out live in it yourself. If you do the sums you might live rent free. Remember the property over a long period will go up in value a lot faster than you can save. I once in my dark past rented a property, then rented all the rooms out and lived rent free.
The house rules were no parties at our place. The ladies that got sneaked in had to be fly by nighters. It worked out great until the landlord twigged at what i was up to and give me the bums rush. Nobody was ever born at the wrong time only the wrong place opportunities are to be found at any time. macdunk

**A J** · 19-02-2006, 09:07 PM

Unfortunately can't see myself living rent free (not having to pay off part of the mortgage in other words I guess you meant).

Yeah, hopefully buy a 4 bedroom house and stick three people in there. I like this house: 285001 "put that number into realenz.co.nz"

But if not that I'll catch another bus.

Cheers
A J

**Sideshow Bob** · 19-02-2006, 10:15 PM

Giday AJ,

May have the choice of lving rent-free (depending on the sums) but would still be putting money into the property.

Good, solid looking place, modern with little in the way of external maintenence in the next couple of years.

Would look to work out what sort of money you could charge per week per room. Of course you are the one still covering the rates, maintenence & upkeep costs, but then again, your electric/phone/Sky bills are divided in 3 or 4.

At your age, you have the chance to do this sort of 'rent' scheme to pay the mortgage, but go down the track about 6-8 years, and you start to get sick of flatmates - and quite frankly can't be bothered with flatties.

My recommendations is to do your sums, make sure that you have something in reserve, and if it all stacks up and feels right, then go for it. You will have to probably stay for a couple of years, and then if you move on, will be happy to rent the house out. Choosing your flatmates is critical, as you are not only landlord, but flatmate. Don't be in a hurry, and let a bit of 'gut-instinct' guide you. You have to enjoy the company of your flatties, and choose right, you will have some good times, and mates forever.

Cheers
SSB

**duncan macgregor** · 20-02-2006, 09:14 AM

S,S,BOB, In eight years time the property if he did his homework right would be worth at least half as much again, probabely a lot more. All it takes is the initial deposit, and the ability to service the loan mostly with other peoples money. Being single he would most likely be sharing accomodation with people in his own circle any way. When you look at the alternative pay rent for eight years, money down the drain with nothing to show for it, thats being stupid. macdunk