k1w1, I am astounded that I can't find those deals either. I no the West Auckland market very well and those are not market rents for average 3,4 or 5 beddies. I have found nothing out West that offers much over 6% on a good brick and tile standalone. Went to an auction at Barfoots two weeks ago. 210 sqm house , great fit out but with water tightness issues sold for $480k after vigorous bidding. This was in the Oaks in Albany. So much for bargins that are cash flow neutral. I have seen a couple that would go close in Clendon but you have to get the rent first.
Announcement
Collapse
No announcement yet.
“Serious” investors nosing back into property market
Collapse
X
-
Originally posted by k1w1 View PostNo, I'm genuinely interested. There are no deals that I can find like that online, for one.
I hear this often on this forum - "you have to look for them". Where?
You could get defensive, or you could help me out and tell me how/where they're found.
So what suburb are they in? If you don't want to tell me that, tell me what part of Auckland - north, east, west, south, central?
I'm not missing your point. You're saying their common. I'm saying they're not, but I'm open for correction. Prove me wrong.
Comment
-
Oh I see. I see smoke & mirrors from the expert (not you, Orbital).
If that's right, it's a little insincere to suggest these deals are everywhere inferring that they are "regular" rental properties for your Joe-average part time PI, poooooooomba.
Comment
-
""Bargains are found at the negotiated price" Roy Fong.
He also said you need "To hit the ball rolling" but thats besides the point.
The point is "You dont find bargains looking through the pages of the property press" Roy.
Dean probably has a full funnel of low offers (see I listened to his DVD).
The problems for me are:
1. Servicing cash-flow nuetral props (the banks perspective)
2. Falling rents as everyone who couldnt sell before they went to Ausie are renting their houses out
Comment
-
Originally posted by pooomba View PostInterest rates trending down, dollar down, building consents down, selling property below replacement. It's hard to see how the recovery can't be anything but breath taking, (unless Labour get back in that is, then we are all off to live in Oz).
Comment
-
Originally posted by robbypBernard Hickey doesn't see property reaching 2007 levels for another 10 years, which doesn't look good for property investment
Originally posted by robbyp. View PostI can't see how recovery could be rapid in todays market, and I think we are years away from the true bottom of the property crash. With any boom you will always get a crash.
A crash will always result in a boom. Note the difference.
Originally posted by robbyp. View PostThe NZ economy is in a poor state, and with raising unemployment, more people defaulting on their mortgages, finance companies folding,
Originally posted by robbyp. View Postproperty being terribly over priced and unaffordable property prices can only go one way at the moment.
Give me some examples.
Originally posted by robbyp. View PostOver 100 years property prices will only rise in line with inflation.
Comment
-
-
Very good question, CJ. I want to know the same thing.
Apparently these deals are coming out of the woodwork in every suburb of Auckland.
You can't find them? You're not looking in the right places, or so I'm told. Surely our friend and property-investing expert, pooooomba, wouldn't feel the need to 'big up' his skills?Last edited by k1w1; 30-07-2008, 05:37 PM.
Comment
-
I never cease to be amazed at how you listen to nonsense from the likes of Orbital and it suddenly becomes fact.
I wouldn't accept those numbers on a lease option in this market, they are just rentals. If you are buying a property worth 400K for 310K you would want $800 a week as a lease option.
As I have been saying for the last 4 months now is the time to find home and incomes, they are cashflow positive and uneducated investors are bailing out of them.
There are home and incomes all over the place offering close to 10% at the moment. It's not about an area, it's about buying well. The 2 from yesterday are from Mangere and Otara. I've found them in the last month in Pakuranga, Mt. Roskill. It has nothing to do with areas, it has everything to do with vendor motivation and making written offers.
I have one today in Panmure returning 8.9% ON ASKING!!.
I find them all over the place. You have to make offers on them to find out what you can buy them for. You won 't find them advertised at 10% yield in the property press.
Make 2 to 5 offers a day and you would find a genuine cashflow property at least once a week.
I've never seen it so easy to find in Auckland. It was harder than this in 04 when I started.
Comment
Comment