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  1. #1
    Join Date
    Feb 2013
    Posts
    280

    Default Apartments galore

    Apartments are going up everywhere.. what are the returns really like ?

    I read somewhere DOn HA flying his clients to Queenstown for Ramada Apartments sellout. leased for 30 years

    https://www.facebook.com/don.ha.56

    Looking at returns 6.6% gross
    Marketing material says a 6.6 per cent guaranteed gross return for hotel apartment investors will be paid monthly, directly into bank accounts.Body corporate fees average about $750 a year for hotel units but rates are extra. previous
    failed hotels were run under management contracts, not commercial leases which is our set-up ----
    Still comes with risks
    https://www.nzherald.co.nz/business/...ectid=12033467

  2. #2
    Join Date
    Sep 2008
    Posts
    7,282

    Default

    hotel contracts of 30 years

    a bad joke

    hence the need to fly suckers around

    and keep them away from much better investments
    have you defeated them?
    your demons

  3. #3
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    7,999

    Default

    Yep, if you have to fly people there, then they probably aren't that good a deal.
    Squadly dinky do!

  4. #4
    Join Date
    May 2004
    Posts
    2,532

    Default

    Earlier this year Colliers reported they expected 4000 new apartments in Auckland this year. I wonder how that figure is tracking and, more importantly, how sales are going and to whom.

    If they are selling to investors that seems odd as they are unlikely to be getting a reasonable yield and not much capital gain either. Not to mention tenant hassles. If going to owner occupiers, fair enough as the bank thinks the buyers are Ok. Some might be bought for social housing, problems coming up.

    But how many are unsold? And if that number increases what happens to the developers?

  5. #5
    Join Date
    Sep 2008
    Posts
    7,282

    Default

    have you defeated them?
    your demons


 

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