Mike Handcock's Property Investors Guide

[freezinhot]

Just saw a piece on Close up on council valuations and how misleading some of them can be, just as in deans blog, on a coastal road the values were all over the place, QV had valued some of these properties at 600k more than what they actually sold for!!

The government official could not explain why the values were so far apart, just backs up Deans blog about coastal property, I found it really interesting.

Obviously if QV and others find it difficult to get the REAL value of coastal, what chance does the novice investor.

3 cheers for Dean!!

FH

[Dean@Massiveaction]

I hope this thread dies son, I have to keep going into xtramail to retrieve the notifications as they contain an unfortunate word association that dumps them all into spam.

Thanks freezing, I just watched that also. Councils, irrefutable evidence of random selection :-)

[outspoken]

Something to do with Mikes' hand poomba? or the other part of his body?

[Dean@Massiveaction]

I don't have "hand" in my spam list :-)

[tpr2]

I really noticed this in the last 12 months. Suddenly all the same questions I used to answer were being asked by new people at my events and on PT. The problem once you get familiar with something is you assume everybody else knows it.
In 2003 I didn't have a clue about investing. I'd never heard of gearing, yield, location, nothing.

I go out of my way now to always go over the basics with people because so often they have big gaps in their basic knowledge.

You've done really well in 5 years then dean.....it must be that massive action. congrats.

[tpr2]

Just saw a piece on Close up on council valuations and how misleading some of them can be, just as in deans blog, on a coastal road the values were all over the place, QV had valued some of these properties at 600k more than what they actually sold for!!

The government official could not explain why the values were so far apart, just backs up Deans blog about coastal property, I found it really interesting.

Obviously if QV and others find it difficult to get the REAL value of coastal, what chance does the novice investor.

3 cheers for Dean!!

FH

If you think that is bad try 2 apartments.
Identical in everyway except one is one floor higher.

They are in exactly the same corner of the building and there is no telling them apart other than one is on the 5th floor and one is on the 6th floor.

So the GV's are 60,000 apart on a 220k property, now thats pretty bad but what is worse is the one that you would expect to be perhaps a little more expensive (6th floor) is actually valued less.

Thats a shocker.

[whitt]

Nice one tpr. Desk jockeys do it again.

[tpr2]

I bought both of them so I used the lower GV as my bargaining tool....

[whitt]

And when it came to dealing with the bank for finance I wonder which one you used?

hehehe

[tpr2]

lol..... well..... it would have been silly not to use the GV on the apartment lower down, after all the automatic assumption was the one above would be worth even more so it was a double whammy