Originally posted by Davo36
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Originally posted by LKSteve View PostIt's hard to argue against the logic, but markets have been irrational for quite some time now. Houses are changing hands for far less than replacement cost in the U.S., Ireland & Spain. At the same time, we've seen property reach new heights in Australia. Much will depend on the global economic recovery next year. New Zealand, shielded as it is by Australia has escaped the worst effects of the GFC - in effect, it's dodged the bullet. If global financial markets hit turbulence again in 2011 it may not be as lucky second time round.
Thanks LKSteve.
Cheers
Tom
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Originally posted by LKSteve View PostNew Zealand, shielded as it is by Australia has escaped the worst effects of the GFC - in effect, it's dodged the bullet. If global financial markets hit turbulence again in 2011 it may not be as lucky second time round.
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A lot of the Railway ones were that and higher AMR.
GRoss of 20% there's plenty like this sort of thing ~ http://www.trademe.co.nz/Trade-me-pr...-320140088.htm
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Hi Dean,
Please show me the 3 bedroom, full site, with garage properties in Manurewa for $200 or less... As that was my example. You must be looking in a very different place to me as I can not find a single one, not even close. Occasionally they are being bought at that at mortgagee, but usually requiring a lot of work. Sure, there are plenty of crosslease properties, units and sections, but they were not the variable in my example.
Do you agree too that the way you buy property as a professional property investor and the way the masses buy property are worlds apart? You have been buying below replacement cost because you are a pro, the vast majority are not.
I think your views are really valuable Dean so I hope this doesn't come acccross as anything but respectful as that is the way it is intended.
Cheers
Tom
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Originally posted by Tom View PostHi Dean,
Please show me the 3 bedroom, full site, with garage properties in Manurewa for $200 or less... Cheers
Tom
With that in mind you would need to find which vendors are motivated and negotiate well to get under 200K.
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