• Login:
Welcome, Register Here
follow PropertyTalk on facebook follow PropertyTalk on twitter MobilizeMail follow PropertyTalk on LinkedIn follow PropertyTalk on RSS

Latest Threads/Videos


News and Views

Most Active - Last 30 Days


Deals and What's On banner
Page 2 of 4 FirstFirst 1 2 3 4 LastLast
Results 11 to 20 of 39
  1. #11
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    4,776

    Default

    More on Propellor's charging structure and history here: http://www.nbr.co.nz/article/new-fre...company-102087
    DFTBA

  2. #12
    Join Date
    Apr 2006
    Location
    Auckland
    Posts
    405

    Default

    Quote Originally Posted by elliot View Post
    Matt do you apartments in auckland to get a net 7% yield. I think the same. Just rerenting 2 properties in rotorua top area and surprised at the lack of interest. Certainly need to look at higher growth areas but auckland prices have now bolted.
    How long is a piece of string ? It depends on what string. Auckland is a large place and quality, demand and buildings vary massively. Even in the CBD you have leaky apartment buildings and good ones.

    I think apartments are a cashflow play in Auckland, yet at time of writing this they have inflated to their former peak value making their cashflow relatively poor and the capital growth prospect low. However there are sometimes bargains around, they are just a bit thin on the ground in Auckland if you are a bargain hunter at present.

    Get in touch with grant Hoey at Proeprty Tutors. The guy owns 30+ apartments and is a central AK apartment guru. Ive purchased a couple of apartments during the recession for around $100k ( with net yields of 12%) and I rang him when I was doing it. He seems to know every building and the leaky ones....you need to watch CBD apartments for leaking.

    Also as a rule I prefer to buy assets with land, - for the capital growth. You can get net yields in this market in South Auckland of 7-8%. In my view these properties will get similar cashlow to Apartments but better capital growth. The time to buy apartments is in the middle of a proeprty crash, not a boom. They are very volitile in value...timing is difficult right now unless you really know what your doing and you are deep in the market. talk to Hoey....
    Last edited by Matt Gilligan; 12-08-2012 at 01:57 PM.

  3. #13
    Join Date
    May 2008
    Posts
    120

    Default

    Quote Originally Posted by dongiblin View Post
    They guarantee rent until it gets tenanted.The rental prices seem realistic and the location seems relatively good.Has anyone had any bad experiences with them in the past?

    I bet whatever tenant they get will be paying a lot less than the guaranteed amount

  4. #14

    Default

    Quote Originally Posted by Contrail View Post
    I bet whatever tenant they get will be paying a lot less than the guaranteed amount
    the rental guarentee is usually built into the purchase price, so I'd be looking to see what I could buy for $35-$40k less, and do some sums on what that might return.
    Regards Roberto
    He who laughs last......is the slowest thinker.

  5. #15
    Join Date
    Mar 2008
    Location
    Auckland Wide
    Posts
    1,094

    Default

    You probably want to check the area, Hamilton is very different to Auckland in that you drive for 10 minutes and be in an area with lifestyle blocks.
    Hamish Patel | ph: 09 625 4693 | mob: 021 625 693
    My Blog
    My Website


  6. #16
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    2,205

    Default

    Quote Originally Posted by Craig Pope Mortgages View Post
    Hi Dongiblin, you see it written quite often that you make your money when you buy a property. So if you buy off (or via) a property investment company they would be making a cut so in my opinion you pay a premium for someone else to do the work. This is fine if you are busy and don't have time to find a section and build yourself. You may do it cheaper if you had sourced the section and managed the build yourself?
    I would recommend getting your own valuer to look at it though.
    Normal sections in Hamilton are around $225k and to fit the two houses the sections might be bigger, so more expensive.

    To build a 4 bedroom and 2 bedroom for $595k, ie around $375k sounds difficult. In my opinion you would struggle to match this price if you tried to do it yourself. Normal 4 bedroom house would cost around $300k, so $375k isn't too much more. In Hamilton i find that you can buy a new house for less than you could build it, plus the specs are probably better!

    Rototuna is generally good, but watch lots of salespeople describe areas wrongly.

    The rent does sound a little high. Maybe $450 for 4 bedroom, so leaves $320 for 2 bedroom. Actually, brand new 2 bedroom in good area is probably around $300 or slighly more.

    I have had no dealings with Propellor.

    Ross
    Coombe Smith Property Accountants www.cswaikato.co.nz
    Are you sick of your Large Auckland Accounting firm charging too much
    for rental accounts? Click here for guaranteed 30% off

  7. #17

    Default

    Hi everyone,
    I've got to say that I have found the Properllor Property Team very good to deal with. Sure you can probably hunt around and save some money building yourself and cutting them out of the deal etc but for investors who are new to property investing and work fulltime in corportate jobs and don't have time to learn everything there is to know about the industry they are a pretty good way to go. Deals aside I didn't find them pushy and always returned phone calls within 15 minutes. This is my experiece and until I know exactly what I'm doing I'll probably continue to use them.

    Cheers

  8. #18

    Default

    Quote Originally Posted by Auckland Newby View Post
    Hi everyone,
    I've got to say that I have found the Properllor Property Team very good to deal with. Sure you can probably hunt around and save some money building yourself and cutting them out of the deal etc but for investors who are new to property investing and work fulltime in corportate jobs and don't have time to learn everything there is to know about the industry they are a pretty good way to go. Deals aside I didn't find them pushy and always returned phone calls within 15 minutes. This is my experiece and until I know exactly what I'm doing I'll probably continue to use them.

    Cheers
    Fair enough, In auckland you would be struggling to find land so buying turn key packages may be one of the options, but Hamilton may be a diffrent cattle of fish. I laways looked at it this way ,if its cheaper to buy than build buy as a a package unless you are building to live in it with better specs.

    How times have changed -- wind back the clock back 10 yrs , 700m2 sections in Hamilton were just selling for $65K and new holmes built for $230K with land!

  9. #19

    Default

    Hi All,

    I've just had a first meeting with this lot and now I'm researching their background. Does anyone have any up to date information on them? Not too sure I am completely confident in having to use their solicitors, brokers and accountants. I asked about using our own and they weren't particularly in to that.

    Any up to date info would be great,

    Mark

  10. #20
    Join Date
    Nov 2006
    Location
    Cyberspace
    Posts
    4,532

    Default

    Quote Originally Posted by Markj9035 View Post
    I asked about using our own and they weren't particularly in to that.
    Run, Run NOW, Run as fast as you can. Run until your legs can not carry you any more. Run while you still have your savings and or equity intact.

    RUN FOREST - RUN.


 

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •