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P.S I get $250 and $230 respectively for my 1960's three bedroom standard houses (although just renovated one this year and it will go closer to $270 in January.
I use Elders Brown and Banks. I've had up and down experience with them, but we seem to be in a good space now. I find their accounting pretty good and their inspection cycle pretty ok. I have heard that "The Rental Centre" which is an offshoot of Petrusmas (or at least used to be) is pretty good. Petrusmas is like the biggest R.E agency down there and have a good name. Bear in mind that lots of places in that valley have spectacular views. One of my houses is up on the hill there and has spectacular views, and that is a good thing. What is the block size? Is it eventually sub dividable? That could be something to think about. In that area I think the minimum is 650sq meters.
What are the levies? Who is the rental guarantee from? Is the $440 per week NETT or Gross? What part of town is it in?
NN
What area is the property in?
Hold on my friend. Property is a long term investment. it goes up, it goes down. It does in the long term go up, and i agree with the other person's comments about forced saving.
My only property investing regrets have been things I've sold, and opportunities I've missed out on because I got cold feet. Even my average performing investment properties even though have come good a little later than some of my better ones, have given me something else that was worth it, experience. Hope this helps.
NN
Hi,
I have two investment properties in Claremont, which is just north of Berriedale. I've had them for 4 and 5 years respectively and had the same tenants in both since day dot. Rents have started to increase reasonably well in the last 12 months and I've got a pretty good property Manager, achieving well over 7% of yield. Buying something that you are emotionally attached to for investment purposes can lead you into a bit of danger though. I too, would think about moving down that way eventually, but not to live in what I currently own, I think that can confuse the issue sometimes. FYI, I've had good growth from 04 to 07 but things have slowed in the last 12 months.
Hope this helps.
NN
