Forum Replies Created
You might want to check these links for information on wraps in NZ.
http://www.propertytalk.co.nz/posts327-highlightwraps.html
http://www.propertytalk.co.nz/posts605-highlightwraps.htmlThey are a bit old, but I think they still applies.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsIt looks like I am the only Warriors supporter here. They’ll be back.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsHi sbhjain
That is not an easy question to answer. There are a lot of variables.
You have to consider where you want to live, and what standard of living you want to live in. A quote I quite like is to ‘buy a house for yourself which is the cheapest your ego can allow’. A cheap house for you means more money to invest elsewhere.
Property investing is very much a numbers game, but it is not quite the same when purchasing a house to live in. You have to live with that decision.
That does not directly answer the question, but I hope it helps.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsI have not done wraps myself but yes I believe they are legal, and no they are not very popular.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsThere is a free spreadsheet available from
http://www.rentmaster.co.nz/propertyinvesting/propreturn.zip
This was actually written by another forumite but I cant remember who it is. Whoever it is should feel free to take credit for it.
Andrew
http://www.rentmaster.co.nz
Software for Landlords3 weeks rent free per year? That sounds quite generous.
This reminds me of another idea I read somewhere (I think Graham Fowler wrote it). If you have some spare cash and want to do a bit of a makeover, and you have a good tenant, then you contact the tenant and tell them you have $500 to spend on the house, and how would THEY like you to spend it. But the important thing is to spend it on the house, and not the tenant. If you spend $500 on paint or new tiling or landscaping etc then the $500 improves the value of your property, and when the tenant leaves, you still have the benefit of the $500 expense. But because it was the tenant who told you how to spend it, they feel like they have benefited as well.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsMaybe Westan is referring to the lignite suppliers in Southland. Go to google and do a search on lignite Invercargill. But I too would be interested to know what else there is.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsI dont think people will leave the cities either. That is where the jobs are, and that is also where more of the jobs are being created.
Market forces will take care of themselves long term. If home affordability goes too high, it will be un-sustainable, and will come back down again. There are only so many people that can afford to purchase the high price houses.
Cities will in most cases continue to grow outwards, and those outer suburbs are usually cheaper.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsHi guys.
I am from West Auckland, New Zealand.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsOriginally posted by Richmastery:Still in School..
Aren’t we all. The beauty about life is that it is a continual learning experience. No one man ever knows everything. Which is why we visit forums.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsHere are a few rent increase tips for starters.
– Furnish it
– Add another bedroom
– Subdivide the section and add another new house.
– Add a granny flat
– A suggestion from someone else is to offer the first weeks rent free, in exchange for an additional $10 per week. The tenant saves on some up-front costs, but looses long term.
– Just paint it and make it look better than it already is.
– Dont rent to friends or relatives – you always tend to charge them less.
– Add a dishwasher and charge extra rent for it.
– Allow pets and increase the rent for the priviledge.Thats all I can think of for now, but I am sure there are heaps more.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsHi busta_
I dont want to sound like doom and gloom, and it is not answering your question, but it sounds like you are over-extending yourself.
I suggest you work out how much you can afford to pay back before getting a personal loan and finding the rent does not cover your mortgage and loan expenses. If the calculations work out, then go for it.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsHi Mattn
A bit outside the square, but have you considered investing back into your own business? If it is making good profit now, then maybe there is opportunities to make even better profit by investing in marketing or expansion or something else. I dont know what your business is, or if this is an option, but thought I would mention it.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsInvercargill could be an interesting case study.
Prices have been going up a lot recently, mainly due to out of town (and out of country) investors. Much like Tokoroa. When the next slump comes, it will be interesting to see if those gains will be sustained, or if they are in for a bigger than average correction.
With the introduction of the zero-fees for students, I think the student population will help to sustain the gains to a certain extent.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsHi bacchu
The phrase goes ‘location, location, location’. i.e buy the worst house in the best street.
However I think that might be a bit simplistic. You have to live in that worst house. But I think for long term capital gains, location is best. They are not making any more land. Maybe you can extend the house later? But you also have to consider where you personally want to live as well.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsIf you are looking for property finders in Auckland, you might also like to try http://www.hybridgroup.co.nz
Maybe I am missing something. How does having lots of clients mean you can negotiate a better price? Maybe the bulk purchasing of apartments? But if I was selling a house, would I care how many clients the buyer has and change my price accordingly? Surely the price is the price, regardless of how many clients the buyer has.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsHi Agile
If you listen to the ‘experts’ over this side of the Tasman then it seems that prices are going to drop in the near future. Prices are still going up, but slower than before. The BNZ economist even suggested prices will drop 10% over the next 2 years. Interest rates have been going up recently over here, and the speculation is that they will go up more. But I think there is another 6 months or more of reasonable activity to go before it starts to pinch.
But who knows? If I knew what was actually going to happen, I would be a lot richer! But thats all part of the game.
Andrew
http://www.rentmaster.co.nz
Software for LandlordsHi
I have not been back here for a while. The place still looks good.
I have been reading both NZ magazines on and off recently. I agree that the NZ Property magazine has big font and large pictures and headings with the occassional article, but it is independent and the December edition especially had some good content.
The KPI magazine is now independent as well, and the new lack of ESC advertising is one of its best features. Worth a read.Andrew
http://www.rentmaster.co.nz
Software for LandlordsRental returns on these inner city apartments are apparently very good. But the biggest concern for me would be the over-supply. But they have been saying there has been an over-supply for quite a few years now, and new ones keep going up, and people keep buying them. Could be worth considering.
Andrew
http://www.rentmaster.co.nz
http://www.FindARentHome.com
Software for LandlordsWell done once again Fudge111.
The new spreadsheet looks good. If you liked the last one, you will want to have a look at the new one.
I have updated the link to point to the new spreadsheet. The link is now
http://www.rentmaster.co.nz/propertyinvesting/propretuen.zipFYI – Between 1 November and 9 November the last spreadsheet was downloaded 238 times! That would have been a lot of emailing.
P.S. I would like to apologise in advance for the All Blacks beating the Aussies.
Andrew
http://www.rentmaster.co.nz
Software for Landlords
