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Hey you fellows sure know how to pick the rotten places to invest. what is the point of buying in a town that is almost dead. Sure the price is cheap but then there has to be a reason why. Just use your head. there is absolutely no point in buying in a place that has no capital gain. buy in a city that has high population growth and high capital gains. If you have trouble finding a good tenant in a bad area then often you have to compromise by taking a dodgy tenant then you can quickly eat up your imagined profits.
Buy in Nelson and get me to manage your property.
GlennSome one must have been copying me. I carried out a rent tender in Nelson NZ about 6 months ago and wrote about in my newsletter.
I showed each person through as normal and got them to make their best offer.
It sure caused a bit of bad comment by some of the tenants around towm. I got $340 per week for a property that had previously been $260 so that is a fairly good result.
I have only done the one. but I have left a section on the bottom of all application forms for the rent amount and bond amount that the tenant is prepared to pay. I always try and show properties to batches of prospects so they all know they are competing with someone else.
I often get tenants saying they will up the bond or rent. Works a treat and cost nothing.
Glenn
