Originally posted by DaveW
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Yes! :-)
Failing that, its good luck to them, the journey will be that much more difficult!Profiting from Property, not People
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The other thing Louise is now is a good time to do trading. If you can hold on to the property then good, but not at the expense of trading.
The recession is still lingering around but just look at the rural land that overseas investors have been buying and the re bound in commercial property, and gold.
You need to get working now so that you can enjoy the ride later. When the growth market comes again then it will come quite steep and inflation will be up there I'm predicting. Then you can enjoy more time with the family :-)Profiting from Property, not People
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Probably one of the most telling things is that the banks are back to 90% lending. Is that a sign of confidence?Profiting from Property, not People
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Yeah I was watching a Westpac ad on telly last night. It was the same or similar to ones they used to run 3-4 years ago. Basically selling the home ownership dream. You know, how fantastic it would be to move into your new home and how Westpac can help you do it...
So they would be a bit more careful than they were but they're keen to do the business.Squadly dinky do!
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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?Profiting from Property, not People
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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.Squadly dinky do!
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Originally posted by DaveW View PostHi 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?
Finding a house that others have overlooked. Is that it?Squadly dinky do!
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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.Profiting from Property, not People
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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, 09:16 PM.Profiting from Property, not People
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