Have horrible experiences with a property manager. We were told a solo mum with kid was renting the property. In reality she was living there with her partner, his brother and two huge dogs as well. The partner had mental issues and decided to cut a water pipe. Property manager did not tell us the real state of affairs and also made a horrendous mistake when staff "misled" a paper that water was gushing over the wall. Long story short. We were out of rent for almost 6 months, repair bills of almost $30k. On top of that tenant was also claiming $25k with the tenancy tribunal. Later on, heard similar horror stories of other people with property managers. Remember, it's not their own home they "manage". Property manager: NEVER EVER AGAIN
Id like to see all the numbers for that 2.2 property. Can they use the equity to make improvements or add an extra dwelling on the property to make more cash flow. Can making enough improvements eliminate the need for having it managed?
In other videos you talk about having a balanced property portfolio with both yield and growth properties. Isn't the Waiheke property a great growth property?
Does your $0 fee cover advice of when a property bought through Opes has changed from your initial advice from a high growth to a high yield property? Or is that later advice then become a fee?
I don’t understand why’d you sell that Waiheke house, yes the yield has turned bad but the rent is still covering the mortgage and the house is probably increasing in value fast allowing you to withdraw more equity to buy another property.
Depends what the purpose of the property is. If they want more income, then they may as well sell and buy higher yielding properties. If they want to retire in the property or live there soon, no point to sell now and buy another Waiheke property in a couple years.
Very useful content. I’m just wondering along the lines of mistakes. Does investing in solar allow you to gain value on your property or is it just another myth and investment mistake ?
Have horrible experiences with a property manager. We were told a solo mum with kid was renting the property. In reality she was living there with her partner, his brother and two huge dogs as well. The partner had mental issues and decided to cut a water pipe. Property manager did not tell us the real state of affairs and also made a horrendous mistake when staff "misled" a paper that water was gushing over the wall.
Long story short. We were out of rent for almost 6 months, repair bills of almost $30k. On top of that tenant was also claiming $25k with the tenancy tribunal.
Later on, heard similar horror stories of other people with property managers. Remember, it's not their own home they "manage".
Property manager: NEVER EVER AGAIN
Ed, yields is nothing to Auckland. Capital gain can be double in 3 or 4 years if you hold high capital gains properties.
Id like to see all the numbers for that 2.2 property. Can they use the equity to make improvements or add an extra dwelling on the property to make more cash flow. Can making enough improvements eliminate the need for having it managed?
You could also pull out equity and lend that out to finance new build at 10% or more.
Really good content!! Thanks
Thanks Ricardo 🙏
Thanks Ed best as always ☺️
In other videos you talk about having a balanced property portfolio with both yield and growth properties. Isn't the Waiheke property a great growth property?
8min 25sec = 😯.... restore faith in people dealing with your 'skilled' employees...
Does your $0 fee cover advice of when a property bought through Opes has changed from your initial advice from a high growth to a high yield property? Or is that later advice then become a fee?
This is gold!
I don’t understand why’d you sell that Waiheke house, yes the yield has turned bad but the rent is still covering the mortgage and the house is probably increasing in value fast allowing you to withdraw more equity to buy another property.
Serviceability can increase with the increased cash flow that you get from the sale. That helps to make more assets.
Depends what the purpose of the property is. If they want more income, then they may as well sell and buy higher yielding properties.
If they want to retire in the property or live there soon, no point to sell now and buy another Waiheke property in a couple years.
Very useful content. I’m just wondering along the lines of mistakes. Does investing in solar allow you to gain value on your property or is it just another myth and investment mistake ?