Investing - Property/Shares
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I cant really actively invest in shares due to work reasons (independence etc) so just have kiwisaver which isnt one Im actively involved in so basically runs on autopilot leaving me at the mercy of the investment managers (who I actually do rate).
This means property is more for me. Have our home and a rental on the shore plus the bach but wouldn't mind another rental this year
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@JK I'm selling one in a few weeks at auction (if not sold prior of course). Just giving it a tidy up at the moment. I did a complete reno on it about 4 years ago. I've made my money out of it but it will go higher I think. Getting a good tenant is the key. PM me if interested.
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https://www.pggwre.co.nz/property/MAT33663/gore-road-matamata/
For those that want a lifestyle block, we have sliced a hectare off. Apparently it's the only one in the district but I can't back that up. They aren't lasting though and are selling at overs in my opinion.
We did consider building on it and selling but neither of us have that extra bit of time to organise so decided to do it the "stress free" way.
I think someone will buy and get a house built and transported onto it and then sell. Probably a very quick way making a $300k profit.
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@Hooroo said in Investing - Property/Shares:
https://www.pggwre.co.nz/property/MAT33663/gore-road-matamata/
For those that want a lifestyle block, we have sliced a hectare off. Apparently it's the only one in the district but I can't back that up. They aren't lasting though and are selling at overs in my opinion.
We did consider building on it and selling but neither of us have that extra bit of time to organise so decided to do it the "stress free" way.
I think someone will buy and get a house built and transported onto it and then sell. Probably a very quick way making a $300k profit.
Steve Hansen helping you sell it
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@MajorRage said in Investing - Property/Shares:
@Hooroo said in Investing - Property/Shares:
https://www.pggwre.co.nz/property/MAT33663/gore-road-matamata/
For those that want a lifestyle block, we have sliced a hectare off. Apparently it's the only one in the district but I can't back that up. They aren't lasting though and are selling at overs in my opinion.
We did consider building on it and selling but neither of us have that extra bit of time to organise so decided to do it the "stress free" way.
I think someone will buy and get a house built and transported onto it and then sell. Probably a very quick way making a $300k profit.
Steve Hansen helping you sell it
I was going to throw in a free membership at the golf club but forgot to tell him that before the ad went up
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@Snowy said in Investing - Property/Shares:
@junior Done by the company that "owns" the loan ( the two mentioned). LVRs are pretty good (for a lender) so disposal of a default means it is pretty secure. Harmoney was very small units ($20 I think) and they had plenty of defaults, but interest rates were high to cover it.
Zagga is only 1K, Squirrel only $500 for minimum investment but obviously much easier to dp more than that. Most of them average $750k loans and they go really fast.
In UK, valuations of loans and their underlying collateral has been an issue.
Under modern accounting, often no general provision for bad debts is made. Even though established banks know that over a business cycle small scale lending inevitably leads to defaults and losses.
So results in the 'good times' look artifically good, but the chickens come home to roost in a recesiion (or a pandemic).
I'd be careful.
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We have a few property investments in an extended family trust/company. Annoying thing now is we have freehold assets, a decent deposit and rental income. But the banks won't loan us more money for another property, either because our deposit is insufficient for what we want to buy, because my sister now lives abroad so her income there apparently doesn't matter, and the olds are retired so don't have annual financial accounts. All this despite having rent to service the loan and the prospect of ample security from our existing places and the one we would buy. Funny because I was under the impression that the banks were quite happy to give money to much worse prospects than us. After banking with the ASB for years apparently it counts for nothing
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@canefan A bank manager. A man who lends you his umbrella on a sunny day but demands it back at the first sight of rain.
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@Catogrande said in Investing - Property/Shares:
@canefan A bank manager. A man who lends you his umbrella on a sunny day but demands it back at the first sight of rain.
Yes. Might need to see a mortgage broker. Clearly I am not asking the right questions
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@canefan said in Investing - Property/Shares:
@Catogrande said in Investing - Property/Shares:
@canefan A bank manager. A man who lends you his umbrella on a sunny day but demands it back at the first sight of rain.
Yes. Might need to see a mortgage broker. Clearly I am not asking the right questions
Know a few mortgage brokers - they usually find the sweet spots.
Maybe you're not risky enough?
The guy at the rugby club in the process of selling up his Sydney house to move into the investment up the coast was completely unaware that you get better interest rates once you have a certain level of exposure - he has had the same place for over a decade and never needed a mortgage bigger than $400K.
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@NTA said in Investing - Property/Shares:
@canefan said in Investing - Property/Shares:
@Catogrande said in Investing - Property/Shares:
@canefan A bank manager. A man who lends you his umbrella on a sunny day but demands it back at the first sight of rain.
Yes. Might need to see a mortgage broker. Clearly I am not asking the right questions
Know a few mortgage brokers - they usually find the sweet spots.
Maybe you're not risky enough?
The guy at the rugby club in the process of selling up his Sydney house to move into the investment up the coast was completely unaware that you get better interest rates once you have a certain level of exposure - he has had the same place for over a decade and never needed a mortgage bigger than $400K.
Our problem was that we stopped acquiring. You need a reassuring level of debt it would appear
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@canefan said in Investing - Property/Shares:
Our problem was that we stopped acquiring. You need a reassuring level of debt it would appear
Yeah they need to know you're serious
I ring our bank every 6 months or whenever I see a competitor offering a tasty rate. In addition to the "professional package" discount it has probably saved me a few thousand, but more importantly makes me feel good about myself.
The mortgage is still a tick over half a mill, and I know if we reapply for something after it drops below that, many institutions will not be so keen to bargain.
Right now I'm weighing up whether to fix for 4 years (P&I) at 1.99% or stay where we are at variable 2.88% - my lizard brain only remembers that every time I fixed in the past, the market dropped below that
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banks are fucking fluffybunnies. they will only lend money to those who don't really need it, or those who can barely afford it.
I have no idea how people start their own business in this country.
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@mariner4life said in Investing - Property/Shares:
I have no idea how people start their own business in this country.
Well you've got to pull yourself up by the bootstraps and WORK for it. Nobody is going to do it for you... and stop buying smashed avocado on toast you hipster fuck
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@NTA it's more like "well, we'll give you this money if you put your house and your first born up. And your line fee is high because you have no trading history"
or, alternatively
"look, you have no trading history, come see us when you have 2 years of financials. And also put your house on the line"
People shouldn't have to risk their house to try and build a business. Personal guarantees can fuck entirely off
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@canefan said in Investing - Property/Shares:
Yes. Might need to see a mortgage broker. Clearly I am not asking the right questions
Try David Windler at the Mortgage supply company.
Disclaimer - I am not endorsing him or the company but they seem to be able to organise things. -
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@mariner4life said in Investing - Property/Shares:
@NTA it's more like "well, we'll give you this money if you put your house and your first born up. And your line fee is high because you have no trading history"
or, alternatively
"look, you have no trading history, come see us when you have 2 years of financials. And also put your house on the line"
People shouldn't have to risk their house to try and build a business. Personal guarantees can fuck entirely off
Fuck yes, especially that last line.
