Looks like it might be more of a long term arrangement for residences rather than an investment though seeing as how your daughter wants theapartment or property to be near to her workplace. Well, what most estate agents do is they draw up a bunch of listings , and spend time bringing their clients around to see the houses. At the end of the day, the client wants what the client wants... Good luck!
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Originally posted by Glenn View PostWith the low value of the pound and the high value of NZ dollar it has never been easier for Kiwi investors to buy. So the question of affordability is not a problem I have to worry about. What I want to know is the answer to my question. Do you know more than the one line mantra you have chanted. Can you help me with and answer what I suspect most investors in UK would take for granted everyone knows. We have thousands of real estate sales people in NZ who make statements like yours every day.
They know nothing about our world of investing. They all say the same thing. lovely this and lovely that. Would make a great investment. Prices going up every day so hurry along and sign the sale and purchase documents before some other sucker beats you to it.
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Good things take a long time. Your question is perfect timing. One wonders if you have some inside knowledge!
At this very moment the daughter is completeing a deal. One unit out of six with a garage and extra parking.
Purchase price 270000 UK pound. Banks offer 3.8% floating or 1.8 fixed for two years.
The existing tenant in occupancy is paying 1100 pound per month and the agent suggests the market would sustain 1200.
That makes the gross rate of return 5% which is pretty well identical to what would be expected on a similar property in Nelson a small provincial city with a population of 50,000.
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