Landlord insurance. I haven't thought about that. Is that tax deductible? By the way, I've been talking to a property manager in Hamilton. Looks like they don't favor places with lots of beneficiaries. What's wrong with that if they pay their rent on time? I found a property that's selling below CV but with fixed term tenant which I suspect a beneficiary. I am not sure if that's the reason why the vendor is selling.
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Originally posted by checkm8 View PostLandlord insurance. I haven't thought about that. Is that tax deductible? By the way, I've been talking to a property manager in Hamilton. Looks like they don't favor places with lots of beneficiaries. What's wrong with that if they pay their rent on time? I found a property that's selling below CV but with fixed term tenant which I suspect a beneficiary. I am not sure if that's the reason why the vendor is selling.Finance Broker - www.creditone.co.nz
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Thanks, snobilo for that advice. If I will buy a property tenanted with beneficiary in a fixed term with the previous vendor, can I change the term of tenancy agreement that WINZ pay the rent directly to my account? Does the tenant have a right to refuse if I opt that WINZ pay the rent or even installing a meth detector in the property? How does this work?
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I looked did a few weekend trips to open homes in Rotorua looking for my first investment property, the yields were far better than Tauranga where I'm based but it does seem much harder to find good areas and streets without knowing the place really well, I personally found it quite a blurred distinction between good and bad one street from the next as even what I read to be good suburbs from other posts still had some really dodgy spots. where as here the street name is enough to decide before I even look there, but again I guess that's just knowing the area best you can!
Just read through your whole blog also Snobilo haha, another fellow ex WOW player!
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Are you planning to manage property or do maintenance yourself? If not, why are you concerned about the proximity to where you live?
Buy based on your investment criteria let the numbers and your risk profile drive the decision...
Don't limit you're self based on location that is easy for you to drive to... Once you have something that you think is investment grade find a great PM - if you can't find one to manage your investment then don't buy that property or keep looking for a PM who meets your expectation!
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Yup, me. Although these days I barely have enough focus to play Cut The Rope.
I'm going to sell my Rotorua place and free up money to buy a multi-income in central Wellington. It's 3br in Western Heights, rents for $290 but has room on the big flat section to put another 3br home. I thought of doing a relocatable first and selling as a dual-income. Offered it to our tenant first because I know he's had a hard time getting into housing and has saved money up, if he's not keen I'll put it up for sale on iFind.Last edited by Nick G; 21-05-2016, 01:50 PM.Free online Property Investment Course from iFindProperty, a residential investment property agency.
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Originally posted by checkm8 View PostWon't manage it myself. I mean to view each property that I want to buy.
I guess I just want to know why you have decided you want to see every property you buy?Finance Broker - www.creditone.co.nz
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Originally posted by snobilo View PostIts interesting how different people will find this silly ( No offense I'm just referring to a thread a few months ago ). Many investors buy properties all over the country without ever seeing them and make fantastic deals from it, a few people on this forum even do it from other countries. I am trying to come across to the mindset that I don't need to see the property but its very difficult - I like tangibility and being able to see a property without fishbowl lenses!!
I guess I just want to know why you have decided you want to see every property you buy?
There are pros and cons to viewing... If you know what you're doing and can assess risks and cost associated with the purchase then you should go look... If your skills are limited to whether or not you like the Colour of the wallpaper then you might be better leaving the inspections to the professionals you pay and focus on what the numbers tell you.
last time I went to buy shares in a zero they wouldn't let me walk around their offices and sit in on any of the meetings they were having in order to assess the quality of zero as an investment prior to purchase
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Originally posted by snobilo View PostIts interesting how different people will find this silly ( No offense I'm just referring to a thread a few months ago ). Many investors buy properties all over the country without ever seeing them and make fantastic deals from it, a few people on this forum even do it from other countries. I am trying to come across to the mindset that I don't need to see the property but its very difficult - I like tangibility and being able to see a property without fishbowl lenses!!
I guess I just want to know why you have decided you want to see every property you buy?
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It is a smart idea to learn as much as you can... The issue is the investing starts when and offer is accepted. Learning or not the costs of this lesson could linger for many years.
Visit as many houses as you can close to home to get a feel of what you need to ask your team. But don't ignore investment grade property locations just because they're hard to inspect yourself. There are teams of experts waiting to help you (for a fee) - this cost might just be lower than making a poor investment chice because the property investment criteria started with 'only properties within X hours drive from my home'
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