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  1. #21
    Join Date
    Aug 2006
    Posts
    413

    Default Love Student or Hot Pillow Accomodation Model

    Quote Originally Posted by SuperDad View Post
    I have a RBR rental, and would not hesitate to pick up another one if the numbers stacked up.

    Paul.
    I love this model but it only works on volume. This idea was reoriginated in NZ as student housing. In fact Dave Henderson and Dolf de Roos renovated central business district commercial buildings following the Japanese hot pillow model. They have done well with many of these PV and subs still own and operate worldwide.

    Really profitable but only makes sense on volume (20+) or alternatively a subsidized housing financial model like Chinese factory worker housing or a Dubai labor camp.

    Otherwise I agree with Davo.....ka ka job. Maybe ideal for a dull bunny off the special real estate ed. bus formerly powered by Ferrari.

    Best: Andrew Waite

  2. #22
    Join Date
    May 2007
    Location
    Wellington
    Posts
    1,520

    Default

    Stay away from these mugs, their seminars are crap and mislead the new investor. Surely if they applied what they preached and made lots of cash then they would not need to run such embarasssing and humiliating events like this.

  3. #23

    Default

    Quote Originally Posted by spurner View Post
    No worries he'll sell once his son graduates. He'll want $1m though.
    You are exactly correct. I still drive by the place because when and if it does come up for sale i plan on buying it and converting it back to a single family home. But, not at his price – at my price -- far below what he paid and what I initially offered.

    The problem with these partitioned homes is that they sit in family neighborhoods, and because of the comings and goings of the tenants and the general trashiness of the home, these places tend to lower the market value of itself and the entire neighborhood. There is far more value in a single family dwelling than in a boarding house!
    Erewhon is still erehwon, I don’t see it changing anytime soon.

    http://exnzpat.blogspot.com/

  4. #24
    Join Date
    Dec 2006
    Posts
    1,656

    Default

    Ha! You want to approach the neighbours. They'll probably happily throw in a few grand each just to see you tart the house back up into a family home and lift their values in the process.

  5. #25
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,887

    Default More Specifics..

    I have been considering RBM for a while now, does anybody know if this course is just concentrating on student accomadation near Tech's and Uni's.
    Or it also talking about houses nearer to cities (ie. work) and right on the bus or train route for a quick trip into town.

    I am working on a concept for properties near Universities as well.
    But am now thinking you need property close to Bars for this to work well.

    If you have a 5 bedroom house do you need OSP for 5 cars.
    Paul Magill B.com
    Bluekiwi Property Consulting

  6. #26
    Join Date
    Dec 2006
    Posts
    1,656

    Default

    Students and bars?

    You must be looking at plans to install a vomitorium.

  7. #27
    Join Date
    Nov 2007
    Posts
    166

    Default

    Look, we all know that I think there are fire safety reg issues with RBTR, so I'll stay away from that....
    ...But, If I was looking at a property to do RBTR with, I would want to be darn sure I could afford the property if for some reason, in the future, RBTR got legislated. Either by knowing I could afford to run it as a boarding house, or as a resi house.

  8. #28
    Join Date
    Apr 2006
    Posts
    4,018

    Default

    brettc,

    Fire issues aside, why would RBTR be regulated?

    They are different from boarding houses. Tenants are on standard tenancy agreements, and enjoy all the protections of the RTA.

    Paul.

  9. #29
    Join Date
    May 2008
    Location
    Christchurch
    Posts
    22

    Default For Septics, Sceptics and Those Who Want to Know!

    Hi All,

    Just read todays Blog by Sue Laurie.
    So here is your chance....

    It’s been a busy week here in the Canterbury office. I have had heaps of enquiries from people wanting to know more about the Room by Room courses I am running in the next few weeks. Plus it’s been great to have several people contact me to share their success stories with this strategy – thanks!
    Given that the questions I am getting tend to have a common theme, we have decided that the best way to handle this will be to hold an open conference call so that I can talk to anyone who is interested and hopefully answer those questions in one go.
    So next Monday 11th at 7pm and then again on Wednesday 13th at 1pm I am going to host an open teleconference session. Each session will last for 15 minutes, so if you are wondering if this seminar / strategy is the right one for you then dial in and let’s have a chat. I am more than happy to answer as many questions as I can in that time. Let’s just make sure that everyone who calls in gets the chance to have their burning question answered.
    To call dial 0830932 then enter the pin number 429631 – note calls will cost you 64c per minute. (If you are on the call please make sure that you are calling from a quiet area with no background noise and please have your cell phone turned off).
    Have an awesome weekend, and I shall look forward to talking with some of you next week.
    Cheers
    Sue and the Canterbury team
    Last edited by Halfwit Hunter; 08-08-2008 at 10:25 PM. Reason: Item didn't paste correctly

  10. #30
    Join Date
    Jun 2008
    Location
    Auckland/Tauranga/Gold Coast
    Posts
    2,960

    Default

    Hi superdad.

    How do you handle the personality clashes that are bound to occur in something like that.
    I may be on the wrong track here but I remember friends interviewing for flatmates,(I have never flatted, always owned from age 21) deciding on someone and then hating them a month or so later so throwing them out.

    If each one of the RBR renters has an individual tenancy agreement and you have been the person to select those tenants I suspect, then what happens when, lets call our fictitious renter Julie, decides she wants to sleep with the other fictitious renter, a handsome guy (lets call him Terry ) but he is going out with the stunning model, lets call her Rebecca and now all hell breaks loose in the home.

    If each individual is protected by an individual RTA agreement then who do you throw out or what do you do when 3 tenants all up and leave because Julie has been sleeping with every bodies boyfriends...coor I like Julie.

    It sounds strange but thats the sort of thing I imagine so this is not a "this is what happened to me" this is merely a "what if".

    Also I am sure there are lots of other reasons why Julie will not get on well with Rebecca or Terry, although I don't know why because i am so likable...I mean the fictitious renter is a likable guy,

    Just wondering how you navigate those types of issues.

    cheers

    Terry


 

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