Just a quick one – I have seen alot of two story residental IP’s hitting the market in most major centres. Check out real.co.nz There may be some bargains to be hard but be vary wary of shaky building laws and the cost of compliance. Making some of these building earthquake proof is impossible so purchase price should be something like land value minus cost of demolition.The laws intent was to regulate questionable older commercial properties but can be read to cover boarding houses – i am still in the process of researching the regulations but it is something to be mindfull of. I will email my clients the findings and post here if anyone else is keen.
cheers
I Buy New Zealand Property – All types and conditions [email protected]
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