The Charlotte30 Interview
- Thread starter The Y-man
- Start date
Another story to enjoy. It is great to see how many different ways people invest into property. You were and are the active investor whereas I was a passive one starting out. What does that tell you, that whatever strategy one adopts one must eventually start, and then will also learn along the way, right?
Your accomplishments are great, I think somewhere a statistic illustrated that owning more than 6 IPs would qualify you in the top 1 percent of people in Australia, so do not put down your great achievements.
I saw a Chinese movie recently and a Shaolin cook put himself down in front of his master, so the master asked him, "what is more important or worth more, gold or mud?". The cook answered, "Of course gold master". But then master added, "when planting a seed?". And obviously the answer was mud in order to grow a seed, so you see the morale of the story is we are all different with different talents but we all can achieve great things!
Well done!
Your accomplishments are great, I think somewhere a statistic illustrated that owning more than 6 IPs would qualify you in the top 1 percent of people in Australia, so do not put down your great achievements.
I saw a Chinese movie recently and a Shaolin cook put himself down in front of his master, so the master asked him, "what is more important or worth more, gold or mud?". The cook answered, "Of course gold master". But then master added, "when planting a seed?". And obviously the answer was mud in order to grow a seed, so you see the morale of the story is we are all different with different talents but we all can achieve great things!
Well done!
To MIW
Thanks for the kind words on my journey. The reason for posting was to show that it can be done on a low income. It is too easy to think I can't do that because I don't earn enough. In the beginning it was very hard to keep focused because the journey appeared to be overwhelming. It was a matter of do "what you can with what you have."
Thanks for the kind words on my journey. The reason for posting was to show that it can be done on a low income. It is too easy to think I can't do that because I don't earn enough. In the beginning it was very hard to keep focused because the journey appeared to be overwhelming. It was a matter of do "what you can with what you have."
Dear Biz
Yes my properties are all in Christchurch. After the earthquake the values and rents were all over the place. All you could do was hang on and ride it out as it was not an option for me to leave town. I was pleased that I was not highly geared as the event tipped some people over. In terms of values there was nothing to make comparisons on as there were very few sales in 2010 and 2011. Values also related to government agencies (CERA) giving new zonings to the land areas within Christchurch. Parts of the city that were desirable before became red-zoned ie uninhabitable, unable to build on. Lending criteria changed. No insurance, no mortgage. My tenancies were all habitable and the rents have been very good due to the shortage of accommodation. We had new Council valuations issued last year which saw a massive increase and they are still trending upward. Despite the difficulties and frustrations with trying to get repair work done property has been very good to me. As with every crisis there are always opportunities for those who look, think, seek information and take a punt.
Charlotte, congratulations. You have done incredibly well and you have been brave. Can I ask: do you pay land tax in NZ?
Dear Property Girl
No we do not pay land tax. We do pay Council rates based on valuations that are normally calculated every 3 years. Average cost $1800 per annum for a $400,000 property.
Cheers
Charlotte30
No we do not pay land tax. We do pay Council rates based on valuations that are normally calculated every 3 years. Average cost $1800 per annum for a $400,000 property.
Cheers
Charlotte30
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Not necessarily a bad experience but the realisation that their debt was your debt. It was the exposure and risk that caused me the angst. We did two multi unit developments that took over 2 yrs to build and obtain separate titles. We owned each site individually in the beginning and then built apartments jointly on each others sites, so ownership became interlinked. The apartments were rented well before title so cashflow was not an issue, we had different levels of financial exposure. It worked out well in the end and the apartments have almost doubled in value after building. I prefer be in control of my own debt. When I look back it was a bit of a head game really.
