• Login:
Welcome, Register Here
follow PropertyTalk on facebook follow PropertyTalk on twitter Newsletter follow PropertyTalk on LinkedIn follow PropertyTalk on facebook
Results 1 to 4 of 4
  1. #1

    Default Hamilton Investment properties help

    Hi all,

    I had recently came across to a company called Assured property and they specialises in building small (studio, 1 or 2 bedroom) flats in melville or near the university area.

    Just wonder if those blocks are good, they claim a property with 4 studios with price tag of 495k will get a return of 800pw gross.

    Not really sure if it's overpriced for the sort of property it is? Wanting to hear some feedbacks from LLs who live or invested in Hamilton... Thanks

  2. #2
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    3,586

    Default

    Hi Newbie,

    With any deal or Company you need to do your own research.

    If you are buying new or privately I would always suggest;

    - getting your own independent valuation to confirm the value. This means not using the developers valuation

    - getting your own independent rental appraisel to confirm the rent. If it is a rent by room, also get a rental appraisel for just normal rent and the property managers opinion on rent by room, how easy to rent, can this continue long term?

    These two items will then help you confirm whether the value and rent are realistic. Without getting these two things done, its a bit hard to guess if the property is good/bad or otherwise.

    Ross
    More Profit from Property? TEACH ME MORE
    Ross Barnett - Coombe Smith Property Accountants
    Proud to give the best property advice for over 13 years.

  3. #3
    Join Date
    Jun 2004
    Posts
    10,313

    Default

    One of my sons was in one near the Uni.
    Paid $150/wk in a 4brm so $600/week total.
    Nice place but not $800/wk.
    Sounds like a 'by the room' rental so you would have to factor in all the other costs to get a better idea on the net before tax etc.

    Basically do as Rosco suggests - do your due diligence.

  4. #4

    Default

    I would echo Rosco's points, and consider that if it's students, would it be vacant for part of the year, too. Construction/developers make sure to make their profit off the front end, it's up to the investor to understand their side.


 

Thread Information

Users Browsing this Thread

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

Similar Threads

  1. Hamilton Investment
    By rene9900 in forum Property Investment (NZ)
    Replies: 2
    Last Post: 30-10-2016, 08:28 PM
  2. Oversupply of Rental properties in Hamilton?
    By AndrewC in forum Property Investment (NZ)
    Replies: 17
    Last Post: 12-04-2016, 06:03 PM
  3. Rental properties in Hamilton East
    By if1hadatail in forum Property Investment (NZ)
    Replies: 1
    Last Post: 17-09-2015, 09:12 AM
  4. How are these as investment property in Hamilton?
    By quebec in forum Property Investment (NZ)
    Replies: 6
    Last Post: 23-07-2015, 04:06 PM
  5. Hamilton Investment Property
    By JonnyC in forum Property Investment (NZ)
    Replies: 15
    Last Post: 06-07-2015, 01:05 PM
  6. When/how to pay off investment properties?
    By motoman in forum Property Investment (NZ)
    Replies: 21
    Last Post: 22-05-2014, 02:07 PM
  7. Investment tips By Whittaker Hamilton
    By whitt in forum Property Investment (NZ)
    Replies: 14
    Last Post: 29-06-2005, 07:18 PM
  8. Investment Tips by Whittaker Hamilton
    By muppet in forum Property Library links
    Replies: 0
    Last Post: 29-06-2005, 09:06 AM
  9. Development plan for Paewhenua Island
    By Marc in forum Property Investment (NZ)
    Replies: 0
    Last Post: 02-01-2004, 08:21 PM

Posting Permissions

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