DaveW's Deals & Such

[Don't believe the Hype]

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

There is a lot of options in Porirua ATM - with the $1.5b announcement in infrastructure and intensification of housing in Eastern Porirua i think we might find 2 unit blocks on 1200m2 making way for 6+ units on these blocks, bringing together 2 -3 side by side sites creating 3000-4000m2 sites there is potential for multi level apartments (think Hobsonville point)

[DaveW]

Yes they are cropping up all over the country (and the world) these community developments. It's an interest of mine also.
So you are banking on the land value or are you going to do your own land development?

[Don't believe the Hype]

Yes they are cropping up all over the country (and the world) these community developments. It's an interest of mine also.
So you are banking on the land value or are you going to do your own land development?

we’ve done small scale infill development in the past - 5 houses in 10 months... more successful than Kiwibuild and we were planning more until the announcement came out.

Now we’re waiting to see what the direction the HLC development wants to go before we make our next move.

[DaveW]

we’ve done small scale infill development in the past - 5 houses in 10 months... more successful than Kiwibuild and we were planning more until the announcement came out.

Which announcement is that?

Now we’re waiting to see what the direction the HLC development wants to go before we make our next move.

They will want you to partner with them to build cheap homes.

[Don't believe the Hype]

This announcement

https://www.stuff.co.nz/national/108...ld-homes-built

[DaveW]

I wouldn't want to invest too near this area, low income more density spells future ghettos.

[Don't believe the Hype]

I wouldn't want to invest too near this area, low income more density spells future ghettos.

That wont happen. The gentrification of the area has been happening for 5 years, this will only accelerate.

we already seeing a migration of the low end to Otaki and other further out locations.

People buying renovated ex states for $600k+ won’t tollerate the antisocial behavior of the few and the area will self police that. It hasn’t done so in the past.

the only fly in the ointment is HNZ not enforcing standards on their tenants in the neighborhood. I have a plan to address that if required when the time comes.

[BlueSky]

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.

Do you feel the same thing happening now or is it a totally different scene?

[DaveW]

Do you feel the same thing happening now or is it a totally different scene?

Back then nobody was buying real estate (those are times to buy cheap!).

Today there are still plenty of sales with strong numbers in residential and industrial, although signs are showing a shift to a buyers market with a) properties starting to take longer to sell, b) prices have leveled, c) there are more listings,and d) banks are being more cautious.

If you are thinking of selling your over-priced property which is in a not so good location, then I think now is a good time, especially if you can find a property to transform into a higher & better use to increase it's value.