• Login:
Welcome, Register Here
follow PropertyTalk on facebook follow PropertyTalk on twitter Newsletter follow PropertyTalk on LinkedIn follow PropertyTalk on facebook
Page 5 of 6 FirstFirst ... 3 4 5 6 LastLast
Results 41 to 50 of 59
  1. #41
    Join Date
    Sep 2008
    Posts
    7,417

    Default

    i think he has to keep for a few years

    at least until he's the market has improved

    and he's forgotten all the blood, sweat

    and bad words
    have you defeated them?
    your demons

  2. #42
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,148

    Default

    Yep that's about right Eri. If I sold it right now I'd maybe get my money back but no more.

    If I wait a few years I reckon the rents will have gone up a fair bit and it'll be worth quite a lot more.

    In the meantime I might keep my ear to the ground for undervalued property again. Paint and paper type stuff this time though. No getting involved with councils at all.

  3. #43
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,148

    Default

    Quote Originally Posted by DaveW View Post
    Hi Davo36, yes still the same and probably won't stop... I enjoy it too much!

    Are you thinking whether to keep or sell your papakura commerciall?
    What is it you enjoy about it Dave? Finding a property that you can make some money on? The thrill of the chase? Is it (for you) analogous to sorting through old second hand goods and occasionally finding a real attractive antique that could be worth lots?

    Finding a house that others have overlooked. Is that it?

  4. #44
    Join Date
    Apr 2009
    Posts
    817

    Default

    I'm in it for both money and fun, you meet lots of interesting people, and there is the satisfaction of turning a property that no one wants into one that everyone wants.. your papakura one is an example of that.

    Being involved at the coal face is like having your finger on the pulse of the property market. At the end of December 2007 I thought something was wrong... it was like someone turned the tap from a sellers market to a buyers market. The tide had turned from greed to fear.. I found it interesting.

    You should consider getting a valuation done after you have done the subdivision consent.. retail is very popular at the moment.

  5. #45
    Join Date
    Apr 2009
    Posts
    817

    Default

    Wow, hasn't this thread taken a back seat in time. Nevertheless, these posts of 9 years ago were on the mark for a housing boom. I'm glad I kept hold of property while at the same time improving my skills in commercial and land deals, in NZ and abroad.

    But I now see so many investors getting into the housing market at its height. We need to prepare for times of change, housing returns are ridiculously low.

    Reminds me of the Previous Investment Trap. I've copied it here for those who have never heard of it:

    Previous-Investment Trap: The belief that time, effort, and money spent in the past must be considered when making a decision in the present. You know the old saying, "Don’t throw good money after bad.
    "In every case, the question is: With what you have now, what is the best way to use that to get the most in the future?" What you’ve paid to get where you are now is irrelevant; those resources are gone and can’t be retrieved. Kiss the past good-bye.

    Last edited by DaveW; 12-02-2019 at 09:16 PM.

  6. #46
    Join Date
    Sep 2008
    Posts
    7,417

    Default

    very much



    One day Sniff and Scurry arrive at Cheese Station C to find no cheese left,
    but they are not surprised.
    Noticing the cheese supply dwindling, they have mentally prepared beforehand for the arduous but inevitable task of finding more cheese.
    Leaving Cheese Station C behind, they begin their hunt for new cheese together.
    Later that day, Hem and Haw arrive at Cheese Station C only to find the same thing, no cheese.
    Angered and annoyed, Hem demands, "Who moved my cheese?"
    They have counted on the cheese supply to be constant, and so are unprepared for this eventuality.
    After deciding that the cheese is indeed gone they get angry at the unfairness of the situation.
    Haw suggests a search for new cheese, but Hem is dead-set in his victimized mindset and dismisses the proposal.
    Last edited by eri; 12-02-2019 at 09:49 PM.
    have you defeated them?
    your demons

  7. #47
    Join Date
    Apr 2009
    Posts
    817

    Default

    and also


  8. #48

    Default

    Dave - your referring to a sunk cost. I’m negotiating on a property at the moment. The vendor subdivided the site so the rear yard is on a separate title. Thing is the subdivision is done in a way that means the site is underutilized. The vendor wants to recover the costs of the subdivision in the price of the property but the way they’ve done it adds no value. I’m trying to convince him it’s a sunk cost (he’s an accountant) so should understand the concept.

    doing work that adds no value will not result in someone else paying you a premium for that effort.

  9. #49
    Join Date
    Apr 2009
    Posts
    817

    Default

    Similar scenario yes.

    With the current crop of housing investors they are buying on very low rent returns at a period of heightened prices. Now there is nothing wrong with this if you hold for 10+ years you will make a gain.

    The smart investor will shift to buying a property that can be improved. This may require going against what most investors are taught never to sell. They may need to sell 1 or more of their buy-to-hold properties to release capital.

  10. #50
    Join Date
    Apr 2009
    Posts
    817

    Default

    Whats your plan with a subdividable property DBTHype, are you looking to split and re-sell or to build on?


 

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Where the deals are!
    By Propoholic in forum General (NZ)
    Replies: 0
    Last Post: 15-09-2007, 11:02 PM
  2. The deals are out there
    By Richmastery Canterbury in forum Property Investment (NZ)
    Replies: 32
    Last Post: 07-08-2006, 10:41 PM
  3. The deals are out there
    By [email protected] in forum General (NZ)
    Replies: 21
    Last Post: 06-02-2006, 06:23 PM
  4. Looking for hot deals
    By [email protected] in forum Property Investment (NZ)
    Replies: 2
    Last Post: 30-07-2005, 11:20 AM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •