Relying on Capital Gains

[GLin]

Although good on you for posting a link in case people don't know how to use Google but please don't say "by anyone". Any new building work must comply with Building Code and "anyone" won't be capable of archiving this requirement.

It's a direct quote from Building.govt.nz, a government organisation...

[GLin]

I would be surprised if changing a kitchen location was on that list. But either way it's best to get it clarified. I'm no builder or council person but I do know potential buyers will notice a change in floor plan and you don't want it jeopardizing a sale.

Council has indicated that moving bathroom or kitchen within 10m is ok.

It is always good to get it consented even if it doesn't require it. At least update the floorplan and keep it in council's property file. Helps when selling the property.

[elguapo]

I would be surprised if changing a kitchen location was on that list. But either way it's best to get it clarified. I'm no builder or council person but I do know potential buyers will notice a change in floor plan and you don't want it jeopardizing a sale.

Can I ask why you think this? You can update the property file without going through all the additional costs and hassles of getting a building consent for things that do not require building consent.

[DaveW]

Can I ask why you think this? You can update the property file without going through all the additional costs and hassles of getting a building consent for things that do not require building consent.

I agree if you don't need to involve the council then don't !

HH should make checks discreetly because if there is a requirement to get consents for his work (or any unconsented work done before he purchased the property) then it may be a costly exercise and he/she needs to be fore-armed ahead of presenting the property to potential buyers.

Moving plumbing is a big deal because there are separate outlets for waste water, storm water, and sewer that need to be properly disposed of. As Gary has pointed out the current auckland city rules allow you to move existing plumbing mot more than 10m without consent.

[Davo36]

Council has indicated that moving bathroom or kitchen within 10m is ok.

Really? That seems surprising.

Why 10m? If you shift it 10m, then that's no different to 20m is it?

[GLin]

Really? That seems surprising.

Why 10m? If you shift it 10m, then that's no different to 20m is it?

Never needed to move 20m, so don't know.

[BlueSky]

[QUOTE=Don't believe the Hype;439036]this is exactly why I have tried to call out the risks to this bullish strategy that Gary was peddeling here and broadly.



its funny how people who were spruking Ronovations as the guru now distance themselves from the strategy.

Now peddling Americas cup

https://www.facebook.com/OfficialRonovationzPage/photos/pb.1457967844218563.-2207520000.1549098600./2492510140764323/?type=3&theater

[AlFa]

Really? "Government organization" consists of same idiots you see on the streets every day. Same idiots who didn't bother adding contour of this country on a world map on ALL government websites.

[kazzp]

I was interested to hear House Hunters story. I went to a talk by Ron before the last boom and was told to sell all my properties in West Auckland as I was an idiot for investing there and I was even more stupid for paying down the mortgages. Tauranga was for losers as 'only old people lived there'. When he suggested that people should buy in Auckland and it didn't even matter if you didn't rent the houses out and I asked awkward questions like 'well how do you pay the mortgage then?' or 'can you show me the sums on that deal?' my questions were ignored. Well New Lynn has gone up over 100% (more than where he said I should invest) and I have three mortgage free rentals. I could have bought more but didn't as things could easily have gone the other way and I didn't want the stress. The upshot is nobody knows anything and investing is about chance, luck and hard work. Also everyone is in a different situation so there is no one size fits all. You'll also notice investors always become 'mentors' at some point as that's how they get the cashflow to prop up their properties

[kazzp]

you need to empty your inbox BlueSky - I cant reply to your PM

[DaveW]

I was interested to hear House Hunters story. I went to a talk by Ron before the last boom and was told to sell all my properties in West Auckland as I was an idiot for investing there and I was even more stupid for paying down the mortgages. Tauranga was for losers as 'only old people lived there'. When he suggested that people should buy in Auckland and it didn't even matter if you didn't rent the houses out and I asked awkward questions like 'well how do you pay the mortgage then?' or 'can you show me the sums on that deal?' my questions were ignored. Well New Lynn has gone up over 100% (more than where he said I should invest) and I have three mortgage free rentals. I could have bought more but didn't as things could easily have gone the other way and I didn't want the stress. The upshot is nobody knows anything and investing is about chance, luck and hard work. Also everyone is in a different situation so there is no one size fits all. You'll also notice investors always become 'mentors' at some point as that's how they get the cashflow to prop up their properties

You're right. No one has a silver bullet or secret success recipe. There are some basic money principals on compounding your wealth but the work to find the deals is all up to the individual. Those who are more successful than others are those who know how to persistently find the next deal.

But I disagree when you say investors always need to "prop up" their cash-flow from doing mentoring. The only investors who need to do that are no different from the mum and dad investors who need to continue in their salary jobs. They are charging out their time for money.

[Nick G]

Recently I've started replying with a suggested hourly rate when people ask if we can get together and chat about property (and I don't think they're interested in our service).

It's really helped cut down on emails :-)

[AlFa]

Recently I've started replying with a suggested hourly rate when people ask if we can get together and chat about property (and I don't think they're interested in our service).

It's really helped cut down on emails :-)

Good idea I think I'll adopt it
Way too often people message me on FB wanting to chat about subdivision/relos. I do reply on very general level but then they just disappear without even saying thank you... every new one makes me want to help people more and more... NOT

[kazzp]

I mean people need to be aware where the need to mentor comes from and that property investing does require cash from somewhere - whether it's a job, mentoring or something else. In my view you are better to learn how to do it yourself, learn the market etc. That takes hard work and time. There is no other way to truly know whether you are making a good investment or not if people are primarily relying on a mentor. Not that the right mentor might not be useful - but you have to do most of the hard yards yourself.

Recently I've started replying with a suggested hourly rate when people ask if we can get together and chat about property (and I don't think they're interested in our service).

It's really helped cut down on emails :-)

[DaveW]

Way too often people message me on FB wanting to chat about subdivision/relos. I do reply on very general level but then they just disappear without even saying thank you... every new one makes me want to help people more and more... NOT

Probably because you didn't give the secret recipe to success they were looking for