DBH improvements to services
The Department of Building & Housing have made some significant improvements to their services since the middle of 2011. They would like feedback from property investors all over New Zealand as to how they are coping with the changes and any suggestions would be welcome.
How to check if your iron roof needs replacing
It can be tempting to keep patching up old iron roofs. Replacing old lead-head nails, wire-brushing off any rust and rust-proofing patches. And if you’ve read Olly Newland’s books, even using a bit of canvas soaked in paint to plug holes!
However, at some point, the risk of a major leak of a roof in the neighbour’s garden will become too great to ignore any longer and you’ll have to suck it up and get quotes to completely replace the whole thing.
Young lovers still get an eviction
I was lining up an eviction last week. The tiny flat looked cold, lonely and uninhabited. I stood outside hopping from foot to foot trying to keep warm and trying to make up my mind. Do I wait till Friday and get the bailiff or have the tenants already run off? Banging loudly on the front and back doors produced no response. The shivering neighbours said they had not seen the young couple for a few days. I unlocked the back door for a quick peek only to discover the young lovers in bed. Oh dear, that is not the way the DBH guide book says to do it!
Stinking Thinking – Landlords still unpopular
There is no widespread appreciation of what landlords do. Sure the socialists, when they get into power, think that civil servants are the best people to be landlords. Have you ever heard of a tenant saying their civil servant landlord is far more considerate and caring than their old private landlord? With the ongoing news releases from the current Minister of Housing continually patting himself on the back I am yet to read any good positive news about private landlords housing someone that others would not help.
Will interest rates rise due to price inflation of basic necessities?
This would normally be a clear indicator of interest rate hikes to come in double-quick time but the first sentence of this article doesn’t make sense to me. Fuel, food and power are basic necessities. We’re not even in control of these price rises, so what would be the point of raising interest rates? It’s not like people are rushing out to buy tomatoes at $12/kg because they are rising in price! I’m not extending my mortgage to invest in bananas for my retirement!
Government to buy Christchurch homes at 2007 GV
Today the Government announced that it is offering to buy the most badly damaged Christchurch homes at 2007 Government Valuations. However, some residents are not happy and want 2010 market value for their properties. In a Campbell Live interview, most said they would stay or hold out for 2010 values. Is this a good deal or not?
Borrow from one bank or multiple banks?
If you’ve never had any problems with banks or believe that if you always pay your mortgages, you will be ok, don’t be so sure. I know many investors whose relationships with their lenders suddenly turned sour even though they had strong cashflow and had not missed any mortgage payments. Some were shocked to learn that their mortgages could be called in at any time even though they had long term fixed rate agreements!
12 tips for first time property renovation
Buying and selling your first property renovation can be a real adventure! It’s a crash course that can be an expensive lesson if done wrong, even for people experienced in buying and holding investment properties. Unless the house is already in pretty good condition, forget the idea of just spending a few thousand dollars and “flicking it on”. Unless the property market is already very hot, this just isn’t an option! You may find that after purchasing a property and “getting stuck in”, essential work will inflate costs. This is why it’s so important to make sure that there is plenty of fat in any buy and sell property.
Need to sell your Whangarei or Northland house FAST?
Want A Quick, Hassle Free and No Fee Sale? What About All Cash And Settlement On The Day Of Your Choice? If you’re serious about selling – We’re serious about buying. We can pay all cash, take care of the …
Property Investors get the sharp end of the stick
With all the media comments out there the property market is taking a hit. Buyers are becoming wary, banks twitchy, tenants stroppy, and people like me who make money out of growth, frustrated. The following edited comment came in from one of my many Hong Kong clients this week…
It seems to me that there is a groundswell of bad feeling targeted at people who own more than one property in New Zealand, i.e. ‘the investors’. It is discouraging to see that element in New Zealand scorn others for their initiative, commitment and sacrifice in building wealth, when most of the time the rationale is to simply provide a measure of comfort and security for later life.
