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  1. #21
    Join Date
    Jul 2006
    Location
    south auckland
    Posts
    38

    Default

    Thanks for the advice guys, i had budgeted on $3000 a year on R&M, after putting in $5000 it ends up negetive cashflow.

    Im getting a building inspection done today, i'll see if i can use some faults or comments to negotiate the price down further.

    Im still finding a bit of difficulty locating a positive cashflow property with yeilds of 9 - 10%, i have searched for home in and incomes and found some. but im only prepared to pay under 250k.

    How about you dean, what kind of yeilds are you finding with stand alone houses in reasonable streets without doing room by room?

    Cheers

    Mech

  2. #22
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,202

    Default

    Is having a rental in a flood zone a bad thing, all it means is your capital growth is not quite as good, unless they fix the issue it in the next 10 to 20 years.

    And every flood you get a free reno ?

  3. #23
    Join Date
    Oct 2008
    Location
    Auckland/Melbourne/ whereever the money is
    Posts
    1,218

    Default

    I would think insurance would become a issue, & you could be up for hassles from the tenants after each flood, trying to get compensation for damage to their goods.

    You may also be up for the compulsory costs of raising the house if that's what the council or earthquake lot decide must happen.
    In practice, all "government funded" compulsory actions always end up costing you something.

  4. #24
    Join Date
    Jun 2005
    Location
    auckland New Zealand
    Posts
    5,237

    Default

    Mech, minimum 8.5% currently. Some stuff well over 10

  5. #25

    Default

    Be careful in the rosehill area there are some not to pleasant streets in there and a high number of HNZ.
    As with anywhere take a look around you will soon see if the street is a problem or not. I always try to look at investment properties after 3pm. It is often not the quite little street it appeared to be at 10am.

  6. #26
    Join Date
    Sep 2008
    Posts
    4,740

    Default

    settlement road at 8pm a no go area? basically central papakura...

    A man's wrists were repeatedly slashed with a metal object in South Auckland yesterday after refusing to hand over his iPhone.

    http://www.stuff.co.nz/national/crim...hed-for-iPhone
    Last edited by eri; 26-11-2012 at 04:02 PM.
    people keep trying to rewrite the world as themselves

    like that'll work...

  7. #27

    Default

    He was then asked if he had a phone and after showing the man his iPhone 5 was told to hand it over.
    Epic, pure Epic.

  8. #28
    Join Date
    Sep 2008
    Posts
    4,740

    Default

    you want epic?

    people keep trying to rewrite the world as themselves

    like that'll work...

  9. #29
    Join Date
    Dec 2010
    Location
    Auckland for work, Counties Manukau for home
    Posts
    1,137

    Default

    Quote Originally Posted by Bluekiwi View Post
    Is having a rental in a flood zone a bad thing, all it means is your capital growth is not quite as good, unless they fix the issue it in the next 10 to 20 years.

    And every flood you get a free reno ?
    As keith said, the insurance company will soon slap a flood excess on you that exceeds the amount they expect you to claim on average. Make two claims and they'll sit up and take notice....and if you try to shift insurer you have to disclose the two claims or risk losing cover when there is a another flood.

    Edit: Well done me for responding to a three year old thread
    Last edited by Ivan McIntosh; 26-11-2012 at 04:57 PM.

  10. #30
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,202

    Default

    Quote Originally Posted by Ivan McIntosh View Post
    As keith said, the insurance company will soon slap a flood excess on you that exceeds the amount they expect you to claim on average. Make two claims and they'll sit up and take notice....and if you try to shift insurer you have to disclose the two claims or risk losing cover when there is a another flood.

    Edit: Well done me for responding to a three year old thread
    Nice work, after all this time, and funny enough I was just out there early this week looking at a property.


 

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