He or she must be really old if they've seen it plenty of times. It has hardly ever happened in Auckland.......
Announcement
Collapse
No announcement yet.
Who's still buying?
Collapse
X
-
-
Why is it impossible to time the property market?
Residential rentals and their tenants are a pain in the posterior.
Only going to buy one if it meets the criteria - i.e. on sale and it will make money.
Unit trusts, index funds are a whole lot easier - even more boring - but less profitable.The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.
Comment
-
Originally posted by PC View PostWhy is it impossible to time the property market?
Residential rentals and their tenants are a pain in the posterior.
Only going to buy one if it meets the criteria - i.e. on sale and it will make money.
Unit trusts, index funds are a whole lot easier - even more boring - but less profitable.
Comment
-
I try to keep it simple. Does the property pay for itself with full borrowings? Does it have an upside ie high density site. I have just bought in a Private Sale in Christchurch near central City. Settled last week. Doing some minor upgrade. Have tenant moving in Saturday this week. If it fits all of the above I buy. Market movements tend to be an opinion and usually too late by the time you read about it.
Cheers
Charlotte 30
Comment
-
Originally posted by charlotte30 View PostI try to keep it simple. Does the property pay for itself with full borrowings? Does it have an upside ie high density site. I have just bought in a Private Sale in Christchurch near central City. Settled last week. Doing some minor upgrade. Have tenant moving in Saturday this week. If it fits all of the above I buy. Market movements tend to be an opinion and usually too late by the time you read about it.
Cheers
Charlotte 30
Comment
-
Originally posted by charlotte30 View PostThis latestone only nets 2.5%. Was bought more as a hold for a potential development site.
Would you mind explaining to me how you see this as a profitable move?
You're paying a 5.15% interest rate to get 2.5% back. Unless you're entirely cashed up - but then why not just stick it into term deposit and get 4.25% while sitting without having to lift a single paint brush?
Comment
Comment