What Neon and Steven said
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Want guaranteed rent? Get one of these http://www.augusta.co.nz/latest_offer/ or these http://www.oystergroup.co.nz/march_u...ES%20FLYER.pdf.
Otherwise I'd suggest buying a place yourself and getting it managed.
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Tan, are you really suggesting proportional ownership schemes as good investments?
What about the serious downside with these; ie. valuations; single lease, high and multiple fees, very very poor liquidity...just off the top of my head.
Don't know specifics of the link you posted but a generic comment.
Brian Gaynor: Property syndicates not for faint of heart
Once again a large number of deadly minefields are being laid for New Zealand investors.
This time it is property syndicates, also known as proportional title syndicates.
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Not to mention.
Serious Fraud Office, Financial Markets Authority investigate proportionate ownership schemes as investors look for secure property investments
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Originally posted by steven anderson View PostI cannot seriously believe that people are considering these types of schemes. Haven't enough people lost enough money. Which bit of this do people not get.
Shame that doesn't happen any more
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If you buy a top-end property through these people, you're sinking a sh!tload of money into it. Compass Investors may or may not be great, but if it goes to custard you could EASILY find yourself with an unrented property that's worth $100K less than you paid for it.
So either put down the glossy brochures and back away slowly, or spend some money on due diligence to protect yourself. Get an independent valuation and a building report.
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Originally posted by speights boy View PostTan, are you really suggesting proportional ownership schemes as good investments?
What about the serious downside with these; ie. valuations; single lease, high and multiple fees, very very poor liquidity...just off the top of my head.
They have to be better than ignorantly investing in residential property. (as opposed to intelligently doing it).
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Hey guys,
I'm new here and was thinking along the same line as Ragsntatter. But got a lot of Cons over Pros here. So might have to rethink of my option. Thanks to Ragsntatter with all the info and please keep me updated. I'll have a look around as well. I'll let you know it there's anything interesting
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Guaranteed.
The word "guarantee" is real sucker tucker.
People think they can earn good returns without any risk.
This week, I found property number 1607171 advertised on Realestate.co.nz as "government guaranteed investment". Sound too good to be true?
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Sounds legit to me - it's Housing NZ. Don't say how long the lease is. And of course they don't mention the risks with HNZ, or that it's a pretty low yield with no potential to increase yield.
but basically they're right - you lease to HNZ and the govt guarantees you get the rent.
Edit: Oh, all right, reading the article I see she's distinguishing between "investment" and "rent" being guaranteed. That's a point - HNZ don't guarantee the property value won't drop!Last edited by One; 09-10-2011, 02:54 PM.
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Locked and loaded
So after doing a bit of running around and research the whole thing made sense. They've guaranteed any damages to the property whether they be accidental or intentional will be repaired at their cost, I get market rent and don't have to go out deal with the tenants. The money shows up every week and is due for a review in March. My finances were a bit shaky but their mortgage guy took care of it as well. Will report back if things don't work out and looking at the website, they're offering some free investment advice booklet which is probably not as comprehensive as this forum but has some merit to it.
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