Anyone thinking of liquidating any of your investments ?

[Wayne]

I do have a PPOR mortgage, in fact it is getting bigger as I will need to put some small personal loan into the Avondale Heights property I just bought... so yeah I have drawn down some funds (less than 100k I think) to buy this one.

Wouldn't you just increase the RC or something rather than a personal loan?

[PTILoveYou]

I sold a large block of flats whic I wasn't planing to sell, it was buy and hold. It was somewhat under performing when you have naighburs dumping TV and furnitures on the driveway. Also gross yield was 7% in Central Auckland, still negative cash flow. After rates, Managment and insurance.

BUT the value from what I paid for it doubled in 3 years so I sold it.
and completely paid off commercial property we own that is returning 70k a year.

so, sometime it's not a bad idea to sell provided you can have better use for the money/ equity and improve your position.

A property cycle expert came to speak at Rons class last night and said auckland is only half way through the boom, so you might have sold too soon ;-)

[PTILoveYou]

Wouldn't you just increase the RC or something rather than a personal loan?

Yeah exactly right, we just use some of our PPOR RC to pay for the gap, then top up else where in the LTC to pay back that RC

[Wayne]

A property cycle expert came to speak at Rons class last night and said auckland is only half way through the boom, so you might have sold too soon ;-)

If this expert will guarantee that then I'll believe it.
An expert is seeing the future - sounds like a fortune teller.

[Orkibi]

A property cycle expert came to speak at Rons class last night and said auckland is only half way through the boom, so you might have sold too soon ;-)

who was the expert?
from experience no "expert" can accurately predict the future...
anyway, i don't care, once the decision is made.

im happy with the cash flow and it helps me to grow my property business even further.

[PTILoveYou]

who was the expert?
from experience no "expert" can accurately predict the future...
anyway, i don't care, once the decision is made.

im happy with the cash flow and it helps me to grow my property business even further.

Haha I'm just pulling your leg mate, well done on your gains =)

The expert was Kieran Trass.

[Orkibi]

really I thought Kieran is overseas in India and over property... good to know.
Kiearn know a lot about the property cycle and often here was called the "Oracle".. but i wouldn't count on anything.
i do value his work do.

[PTILoveYou]

really I thought Kieran is overseas in India and over property... good to know.
Kiearn know a lot about the property cycle and often here was called the "Oracle".. but i wouldn't count on anything.
i do value his work do.

Yeah he's back for a limited time, then heading back in a month or so to teach English to kids in India.

His insight about the market and his personal journey was fascinating though

You just know he still got the goods when his mates in their Ferraris and Porches turn up to listen to him!

[Wayne]

You just know he still got the goods when his mates in their Ferraris and Porches turn up to listen to him!

If you say so Gary.

[PTILoveYou]

If you say so Gary.

Ron is better these days though

[Wayne]

Ron is better these days though

Better than what?

[PTILoveYou]

Better than what?

Ron's better at property than Kieran.

[Grads]

I heard KT lost his investments at last slump.. Does he hold any property now days or just teach others how to do it?

[PTILoveYou]

I heard KT lost his investments at last slump.. Does he hold any property now days or just teach others how to do it?

He said he sold the whole lot and doesn't own anything now.

Also he's doing teaching in India, and not doing much property related stuff.

He's gone off the capitalism/making money thing and moving towards humanity/spiritual route.

[Wayne]

He said he sold the whole lot and doesn't own anything now.

Also he's doing teaching in India, and not doing much property related stuff.

Yet he is still an expert in how the Auckland market is doing right now?