If we were to start an indepant property management company in NZ based in Invercargill how many people would be interested in switching from existing management to something with an investor focus?
Sourcing Positive Cashflow Investment Property http://www.cashflowproperties.co.nz/properties-5.html
Experienced spotters wanted Napier & Rotorua!!Great idea [biggrin]
What do real estate agents know about managing investment properties anyway? The work for a paycheck [biggrin]
Investment Property Management
http://www.adprop.com.auHi Don,
I hope this hypothetical of yours will come true. I would definitely consider switching! Most of the property managers in Invercargill (both from my experience and from others) are incompetent.
Regards,
OziHi Ozi,
Yes it would take more than two but i think it could be done.
Sourcing Positive Cashflow Investment Property http://www.cashflowproperties.co.nz/properties-5.html
Experienced spotters wanted Napier & Rotorua!!Hi Guys,
I would be interested definitely, especially with your contacts (might have been a cheaper plumbing bill than the $1400 one I got a couple of months back). You would need a nifty software accountancy package to keep track of everything too, gone are the days of a bank statement and a highlighter to reconcile things! Having a property manger with an ear to the ground and nouse for misbehaving tenants (I think you both qualify with flying colours given your previous work experience) would be advantageous for an overseas investor. Given the likely increase in rental demand for all those oil rig workers the area will soon need I think this could be a great growth area for you guys to move into. Plus once word of mouth starts you could be inundated with rental’s to look after. I have a three month “out” clause of my current property management contract as I’m sure lots of others would have too, keep it in mind.
I’m assuming you would bring others on board to assist you two with it, also would it continue if you guys decided to pack up and move elsewhere? How many Invercargill winters are you willing to live through? personally I dont think I would last even one, thats why I’m an “Invers” investor and not a resident [biggrin]
Katherine
Hi Katherine,
Winter is the killer here (so landlords if you house is empty and does not have a heat pump or good mutilfuel burner it is no surprise – both options are between 1500 and 3000 and money well spent) so it is great to have the flexibility to move around.
We would need to get the right team in place to make the thing work properly.
Sourcing Positive Cashflow Investment Property http://www.cashflowproperties.co.nz/properties-5.html
Hi DLPP
I’m a client of LJ Hooker Property Management in Invercargill – as I assume you are too judging by the fact that on occasion you quote their highly informative newsletter content verbatim in your posts (with no reference back to them).
It’s plagiarism to pass off the work of others as though it is your own. But worse still, you are using it to build your profile with the possible intention of setting up a competing business.
It is also ironic that you imply PMs in town don’t have an investor focus – yet you pass off the information provided to you by LJH as information of obvious interest to investors.
The next time I speak to Aroha (who has her own portfolio) or Des (ex. Vice President, NZ Property Investors Federation) from LJH, I will be sure and mention this site to them.
Cheers
MM
Hi MM,
The guys at lj are fantastic and that is why we recommend hundreds of people there every year without any incentive or reward for doing so may I add.
We get charged the same as everyone else and I imagine receive the same service. We speak with them usually a couple of times a week and they really do out shine any of the others in town – especially since some changes have been effected. I will continue to use and recommend them.
But I had a different type of service in mind that I don’t think will have to much impact on the size of any current roles. In fact you will find that some agencies are dumping properties (usually owned by out of town investors) in order to concentrate on getting quality rentals in their role while others are forced by the parent groups to “accept every application for management”.
The idea is not really mine – it came about because people keep asking us to do it. I probably get three emails a week from people we have never previously heard of who have bought a property and are at the point of a nervous break down because they can’t find management that understands the issues. I recommend them on to people that I think can help because otherwise we end up doing “favours” and use up many hours of our valuable time trying to fix problems for people without any reward.
So as you can see their is alot of scope for a niche business that would fill a gap in the market rather than take any market share.
You will find that in alot of other major centres in nz property management companies are independant to major real estate agencies.
There are alot of funny things that go on in real estate and there is serious opposition to any type of innovation or competition.
I spoke with someone yesterday about advertising rates and he told me a funny story how the local paper charges him $2000 per page to advertise while the established agencies get charged $400 per page. Then there are some papers that won’t even accept the adds. There are other examples but that is probably off topic.
In relation to the newsletter I am pretty sure most people know the source and we never claimed anything was ours. Most of the stuff we post is available electronically so it is a matter of cutting and pasting. We are merely sharing information. Some people actually appreciate it .Others obviously do not.
However, I am very pleased to be the topic of your first ever post and I hope you continue to contribute to the forum.
Sourcing Positive Cashflow Investment Property http://www.cashflowproperties.co.nz/properties-5.html
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