Investment properties

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Investment properties

Postby immortality » Wed Oct 11, 2017 12:49 pm

Anybody here involved with investment properties?

Looking at getting a property which will be tenanted for the first year and then possibly our son moving into the place when he's away at uni the following years.

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Location: Bayside, Melbourne, Victoria

Re: Investment properties

Postby VX L67 Getrag » Wed Oct 11, 2017 1:16 pm

I think from memory your in NZ are you?

It may be different in NZ to Au is only reason I ask.

We have had troubles with some tenants in the past & the civil court crap is a LOT of work so always best/safest to do it through an agent & can normally get there fee's down to 7% but then they will want to charge you for all the other options too.

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Re: Investment properties

Postby immortality » Wed Oct 11, 2017 2:06 pm

Yep, in NZ.

It's still very early and we are working on sorting all that info ATM before we see our broker next week.

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Re: Investment properties

Postby Biggvl » Wed Oct 11, 2017 3:18 pm

I have several, best thing I ever did, mine are industrial though, I won't do houses...
According to chemistry, alcohol is a solution...

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Re: Investment properties

Postby VX L67 Getrag » Wed Oct 11, 2017 3:20 pm

If you do it personally/privately without an agent then make sure you keep the journal of payments as described in their exact terms as the civil law will not except anything other than the way they say they have to be even if the tanant is $8,000 behind & they will always side with the tenant & not landlord & goes without saying but make sure you have landlord insurance I have found EBM to be the most reasonably priced & had a few claims now & always been happy to pay up with proof of everything.

But yeah as Bggvl says the safest & best everyone say's is commercial/industrial!

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Re: Investment properties

Postby immortality » Wed Oct 11, 2017 4:26 pm

Just found out who the management company is, they charge 8.9% +gst.....

The property we are looking at is at the other end of NZ so having it managed is the only solution at this stage. The plan is for our boy to move into the place the following year and he can then rent out individual rooms for the remainder of his stay at uni.

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Re: Investment properties

Postby 0081 » Thu Oct 12, 2017 6:23 pm

I have a few and it's been pretty easy as we have had good tennants excluding one or two.
We do get silly calls sometimes but.

Renters insurance I would recomond for piece of mind and if they stop paying rent.

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