Stick to rules, old hand warns new landlords
A Hamilton property investor is worried that many new property investors are going down the wrong track.
Monday, December 5th 2005, 6:45AM
by The Landlord
Win Kerry has been investing in property for 40 years and, with more than 100 tenants, he reckons he knows "a thing or two". But the property investor was concerned many new landlords were not thinking ahead in terms of their investment and that many failed to stick to the basics."It is not a question of if they'll go down the wrong track but when," he said.
Properties were selling well but if people looked at historic trends they would know what was going to happen. If values went up, they would come down, he said.
The trend for people to on-sell in 12 months and make about $30,000 to $40,000 would not last for long, he said, with people opening themselves up to lose money after borrowing a large amount for the purchase.
| « Rental housing changes would drive landlords away | Law favours tenants - Waikato landlords » |
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