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The range that price/yields pass through as the cycle goes up and down. Not near previous market peaks or market bottoms. The middle.
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Flipper... Fasterr than lightning -
Create a blog, but why charge? You get other people's stories for free.Originally posted by DaveW View PostSquadly dinky do!Comment
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I'm still busy creating my "story" Davo.
Continuing with this thread (and without giving too much of the story away) I have bought a property at an amazing low 4.5% gross!
The goal being to crank it up to a more respectable 6% net within the next 6 to 9 months time.Profiting from Property, not People
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Ok, I'd be interested to hear more about that! 4.5% gross wahoo! There must be another angle you're working?Squadly dinky do!Comment
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With low yields being snapped up I thought I might as well go for a good location with potential.Profiting from Property, not People
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Well best of luck with it.
I'm not sure what to do right now. Can't seem to find anything over around 7% and I'm worried what will happen if interest rates go back up.
Might just sit on my hands for a bit longer.Squadly dinky do!Comment
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I must confess I have gone off commercial recently.
With the drop of interest rates and the number of huge "FOR LEASE" signs sprouting up here and there I am thinking about more residential.
I would not even notice a few extra residentials to manage.
At least I for the most part can find tenants for them.Comment
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Properties of multiple tenancies which offer the upside of commercial and the steadiness of residential can be a good bet.
I rarely get the same upside in residential.Profiting from Property, not People
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Old thread but thought I'd add to it instead of starting a new one.
Went to the Bayleys auction today. Firm yields again.
New block of shops in Pakuranga (Pakulanga lol), 4 of which sold on yields from 4.7% to 5.7%. People paying over $1mill for a cafe, over $500k for a sushi shop. Madness.
But then in Avondale, a block of shops sold on a 3.9% yield...Squadly dinky do!Comment
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There is not enough info to comment, but shops are the flavour at the moment because they represent a stronger investment compared with industrial and offices.Originally posted by Davo36 View Post
I posted earlier the 4.5% purchase I did last year... people thinking I was mad, but I have managed to double the rent by filling in the vacancy there with a long lease and increased across the board to market rent, and it is now valued at 6% yields, so looking at a 50% capital gain.Profiting from Property, not People
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So what is going to happen if the Labour Government gets in. Who on earth who can pronounce the strange names of our towns would pay that sort of money.Originally posted by Davo36 View PostComment
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Well done DaveW. I guess with vacant space the 'notional' yield you bought on was higher than 4.5%?
Glenn, what has Labour got to do with it? Oh you mean them banning overseas purchasers?Squadly dinky do!Comment
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No, at the time I bought it was 4.5% fully occupied but monthly leases, and tenants on low rents. Parts became vacant when the tenants were up for a big rent adjustment. Mind you, the main tenant was too small for the amount of space they occupied anyway.Originally posted by Davo36 View PostProfiting from Property, not People
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Exactly. The stupid Labourites think everyone who has not been born here is a threat and will stop sales of all sorts of things they had not even considered.Originally posted by Davo36 View PostComment
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Glenn
Are you saying it is mainly foreigners paying these prices ?Comment
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