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Type: Posts; User: DaveW

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  1. Thread: Builder's pay

    by DaveW
    Replies
    19
    Views
    768

    Yes, it makes the builder more thorough in their...

    Yes, it makes the builder more thorough in their initial scoping of the job which as a property investor is what you want. But I see you are a builder and I respect your view too, you don't have to...
  2. Original poster said they are at the beginning of...

    Original poster said they are at the beginning of their journey, thats why it is well advised to buy local and cut their teeth with a bit of hands on DIY management. Not much has been said by the OP...
  3. Thread: Builder's pay

    by DaveW
    Replies
    19
    Views
    768

    For a job that lasts for months I wouldn't go for...

    For a job that lasts for months I wouldn't go for the hourly contract. Better to get quotes for the whole job. Small jobs hourly is ok, but big jobs like this can lead to going over budget and over...
  4. It is good advice to invest near where you live...

    It is good advice to invest near where you live because it will make it easier for managing and improving the property, learning the ropes so to say. Once you have more experience then you can buy...
  5. Replies
    22
    Views
    948

    I agree wholeheartedly with this. But it seems...

    I agree wholeheartedly with this. But it seems the general NZ population doesn't.
  6. Are you handy to a bit of DIY? because I would...

    Are you handy to a bit of DIY? because I would buy undervalue in an older suburb of east auckland with a property with add value. One of the most cost effective add value is by adding rooms or a...
  7. No surprise here. Yes my bet is in.

    No surprise here. Yes my bet is in.
  8. Replies
    23
    Views
    1,621

    Is this house in Otara?

    Is this house in Otara?
  9. Replies
    5
    Views
    325

    Its good for you to have Right of Renewals. If...

    Its good for you to have Right of Renewals. If you are a new business you might rent for 1 year with the right to renew for a another 2 year term, for example, then another right to renew after the...
  10. Replies
    22
    Views
    948

    At least Sir John holds people accountable. I...

    At least Sir John holds people accountable. I see he has just fired the CEO of ANZ.
    Why can't this government hold anyone accountable for the 100,000 homes dream policy?
  11. Replies
    12
    Views
    1,458

    I agree with Nick, I wouldn't say you're a...

    I agree with Nick, I wouldn't say you're a failure.
    You obviously have the capability, you just need to step up your game.
    Befriend agrnts, get to the deals before others do.
  12. Replies
    5,364
    Views
    838,783

    Or if expectations decrease and people buy and...

    Or if expectations decrease and people buy and live in flats, as in the UK.
    Infill housing will increase so you can bet that land prices in populated areas will continue to increase.
  13. Replies
    7
    Views
    816

    Building to rent would consume more finance than...

    Building to rent would consume more finance than building to sell. You can sell off the plans, or near completion, but with rentals you need to landscape, curtains, furnish, etc.. Often a developer...
  14. Thread: Adding Bedroom

    by DaveW
    Replies
    16
    Views
    6,608

    You should get three quotes from registered...

    You should get three quotes from registered builders. Get them around and talk with them - you will get the answers you are after.
  15. Replies
    7
    Views
    816

    I would build and sell, one at a time.

    I would build and sell, one at a time.
  16. Replies
    4
    Views
    301

    I am currently going through the same process but...

    I am currently going through the same process but I asked the agent to prepare an early release form - which is then signed by both parties.
  17. Replies
    19
    Views
    1,623

    They will only foreclose if you cannot meet the...

    They will only foreclose if you cannot meet the payments.
    If you lose your cash reserves then you put yourself at risk.

    The mainstream banks are most conservative, and they will look after their...
  18. Replies
    19
    Views
    1,623

    Yes you have it right. When the shit hit the fan,...

    Yes you have it right. When the shit hit the fan, like it did 2009, the banks will reduce their exposure by shifting your deposit to pay down mortgage. The property owner may then decide to...
  19. Replies
    19
    Views
    1,623

    You're right about the benefits of offset...

    You're right about the benefits of offset mortgage over revolving credit type, however my comment still stands. If you don't put your cash in a separate bank/investment then in an economic downturn...
  20. Sounds like they are not living within their...

    Sounds like they are not living within their means.
  21. Replies
    5
    Views
    423

    Did you get 3 quotes ? I just spent that much...

    Did you get 3 quotes ?

    I just spent that much yesterday on re-carpeting a shop 154sqm.
  22. Replies
    19
    Views
    1,623

    When I say cash I don't mean shove it under the...

    When I say cash I don't mean shove it under the mattress. You can put it in term deposits, kiwi saver, ...
  23. Replies
    19
    Views
    1,623

    An offset account can be convenient to have but...

    An offset account can be convenient to have but when the tide turns and banks tighten on lending then you will wish you had not put the cash in with the same bank as your mortgages. Banks can...
  24. I was going to say the $26k sounds reasonable....

    I was going to say the $26k sounds reasonable. Did you proceed with the other quotes for comparision or did you quit?
    my rule is toalways get 3 quotes, not only do you get price comparisons but you...
  25. Seasoned investors will only pounce if the exit...

    Seasoned investors will only pounce if the exit of mum and dad investors is so great as to flood the market. Last time was during the GFC. One should always position themselves to buy in an exit...
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