Michael Yardney's advice:

[Orkibi]

In most of Michaels books and articles he ALLAYS refer to " well located suburbs with good proximity to CBD" Basically inners city suburbs when yields are usually low.

Examples he gives in his books and articles almost never refer to higher yields then 7%

[Dean@Massiveaction]

True but that's because he is in Australia. 7% is outstandingly high yield in his world

[Orkibi]

True but that's because he is in Australia. 7% is outstandingly high yield in his world

Yes it looks like it - My friend in Brisbane saying finding anything over 5.5% is hard, very hard.

And there is alot of competition for any "high yielding properties" there.

[TheLiberalLeft]

There's some dregs in Stanmore Bay. Some really horrible places.

[WGN ex-property manager]

8% yield in Wellington outer CBD ring ( especially Newtown, Aro Valley, Mount Cook, Karori ) can all be done any month of the year.

[Dean@Massiveaction]

8% all over Auckland, 7.5% with a brand new build :-)

[Bluekiwi]

8% all over Auckland, 7.5% with a brand new build :-)

I like 8.5% or more as it gives me a 2% margin over current interest rates I have averaged at 6.5% (for the next 2 years anyway).

I could get higher but that would take me into undesirable area's and houses.

8.5% yield on a full site, family home with lots of sun and nice aspect, in a strong growth area, with a future development potential upside in the property as well.

[Bob Kane]

I have heard Michael teach and discussed this with him before. Orewa would definitely not be in his model unless infrastructure AND significant population growth were evident.

Dean, is Michael's model available to the public - in a book or website somewhere?
Or do you have to attend a course to learn about it?

[Dean@Massiveaction]

His latest book is called something like "How to build a multi miliion dollar portfolio in your spare time".
Pretty good read.

[eri]

http://www.propertybooks.com.au/yardney_michael

[Bluekiwi]

I just booked it from my local library the 2009 version.

Another great down to earth read is that irish property developer Gary McCausland,

If someone PM's there address they can have the book.

I like him he doesnt mince words.

Martin Ayles DVD set is inspiring, the 50% of it that I could get to play that is.

[Orkibi]

Martin Ayles DVD set is inspiring, the 50% of it that I could get to play that is.

Where do you find this Blue?

PS never say no for a free bee.

[Bluekiwi]

Where do you find this Blue?

PS never say no for a free bee.

Okay Hadar you got the book.

I got the Martin Ayles DVD on Trademe, but its badly scratched.

Martin is an uncompromising tough minded little nut thats a little nutty with small mans syndrome.

But he's got some good stuff, and its mostly getting your mind in the right place to do property.

Looks like George from Seinfeld.

[Bob Kane]

Of course currently all bets are off I reckon except to buy where there is the strongest population growth. In other words, Auckland :-)

That might be the best advice.
Go for the strongest population growth.
To do the opposite would be - foolish?

[Dean@Massiveaction]

Bad for your wealth unless there is some unique twist you knew about. But as general advice, follow the people and follow the jobs.