Latest / The SME Stream / Nichole Lewis: It's time to buy an investment property

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Nichole Lewis: It's time to buy an investment property · The SME Stream

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  Speaker 1: I suggest going to iHeartRadio, but right now it is
• 1:02
  Speaker 1: time for the one roof radio show. And my guest, well,
• 1:05
  Speaker 1: she hasn't been enough what we call a regular, but
• 1:07
  Speaker 1: I think it's I'm optimistic it's going to head that way.
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  Speaker 1: She's a property investor. She went from losing everything to
• 1:14
  Speaker 1: selling horsepoo and then building us out back into the
• 1:17
  Speaker 1: privatey market. She's now she I think you could say
• 1:19
  Speaker 1: she's quite flash anyway. Her name is Nicole Lewis Nicole good,
• 1:24
  Speaker 1: Good afternoon. How are you doing?
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  Speaker 3: Hello? Hello, Yes, I left my gum boots at home.
• 1:28
  Speaker 1: Well, actually you have got it. You do have a
• 1:30
  Speaker 1: very flash pair of high heels on today. I was
• 1:32
  Speaker 1: just admiring that that the hot pink you.
• 1:35
  Speaker 3: Got to buy shoes when you're in Italy.
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  Speaker 1: Oh really, yeah, I would Actually that would be to
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  Speaker 1: be in the shopping list in Italy, wouldn't it. Yes,
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  Speaker 1: for sure. What are the other things that are on
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  Speaker 1: your shopping list when you go to Italy?
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  Speaker 3: So lither definitely leather, good leather, leather, leather jackets, you know,
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  Speaker 3: all those sorts of things that are really cheap. So
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  Speaker 3: and lots of pasta and pizza.
• 1:53
  Speaker 1: Lots of carbs. Not for the gluten free, not quite.
• 1:57
  Speaker 3: Well you can sure you can get gluten free versions.
• 2:00
  Speaker 1: Now we are going to have a chat about obviously
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  Speaker 1: property because this is one roof radio show. By the way,
• 2:05
  Speaker 1: people stick around for the one roof property of the week.
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  Speaker 1: Because I've had a chat and Nicole has seen it,
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  Speaker 1: and it does look like to die for sort of
• 2:15
  Speaker 1: beach lifestyle house. It's just amazing, and I'll be sharing
• 2:19
  Speaker 1: the address. You can go and have a look for yourself,
• 2:21
  Speaker 1: as I say, the property of the weeks, like taking
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  Speaker 1: a two or three minute holiday just perusing someone else's digs.
• 2:26
  Speaker 1: But we're going to talk about investment, buying investment properties
• 2:30
  Speaker 1: or investing in property as interest rates drop. And I
• 2:35
  Speaker 1: preluded and preceded the show by talking about interest rates
• 2:40
  Speaker 1: as if they were already dropping big time. But I
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  Speaker 1: think the anticipation, Nicole, is that interest rates really are
• 2:46
  Speaker 1: going to drop and what that means for when when
• 2:50
  Speaker 1: the stable door is open and the horse has bolted.
• 2:52
  Speaker 1: But what does it mean for our decisions on property?
• 2:55
  Speaker 1: Hot take on it? Obviously, let's lay the groundwork for it.
• 2:59
  Speaker 1: Interest rates, I would guess you would be well literally
• 3:03
  Speaker 1: probably banking on interest rates dropping. What's your what's your
• 3:05
  Speaker 1: take on where we're at with that?
• 3:07
  Speaker 4: Yeah?
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  Speaker 3: I totally agree. So my sort of crystal ball gazing
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  Speaker 3: is that I think interest rates will definitely continue to
• 3:13
  Speaker 3: drop throughout twenty twenty five. I'd love to see them
• 3:17
  Speaker 3: get somewhere back in the threes, I don't know, but
• 3:19
  Speaker 3: the fours for sure.
• 3:21
  Speaker 1: Actually, when you said twenty twenty five, in my mind,
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  Speaker 1: I thought, oh, that's ages away, but it's three months
• 3:26
  Speaker 1: or far not far exactly, It does sound because where
• 3:29
  Speaker 1: are we at with interest rates at the moment. So
• 3:31
  Speaker 1: it's Adriana's prune the cash rate to four point Was
• 3:35
  Speaker 1: it four point twenty five or four point seventy five?
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  Speaker 1: I've suddenly had a mental block.
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  Speaker 3: Me turning four point seven five pops into my head.
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  Speaker 3: But I could be wrong.
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  Speaker 1: But now there's talk about it. I think most of
• 3:44
  Speaker 1: the commentators have asked to distill the advice I've received,
• 3:47
  Speaker 1: or the opinions that there could be another one hundred
• 3:51
  Speaker 1: there could be another hundred points dropped off, which is
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  Speaker 1: a whole percent.
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  Speaker 3: Yeah, well, tee what every time I guess interest rates?
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  Speaker 3: I get it wrong?
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  Speaker 1: Okay?
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  Speaker 3: So mine came up to be fixed in September. So
• 4:01
  Speaker 3: I did all my whole twelve month calculation and thought, right,
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  Speaker 3: see that the banks didn't drop the six months. Sneaky, sneaky,
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  Speaker 3: So I thought, okay, do I keep them at six
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  Speaker 3: months or do I just take twelve months? I did
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  Speaker 3: all my calculation and worked out that would have to
• 4:15
  Speaker 3: drop by one percent by March for me to lose.
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  Speaker 3: So I thought, right off, fix them for twelve months,
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  Speaker 3: and I'm always wrong, So therefore they're going to be
• 4:25
  Speaker 3: down into the low fives in March.
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  Speaker 1: Oh, I say, you actually think they are going to
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  Speaker 1: be down?
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  Speaker 3: Well, you see, I fixed mine for twelve months, and
• 4:32
  Speaker 3: because I always get it wrong, it probably means they
• 4:35
  Speaker 3: are going to go down.
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  Speaker 1: It's a kind of Murphy's law. I don't imagine. I
• 4:39
  Speaker 1: just think you probably don't apply Murphy's law too often
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  Speaker 1: to your own property investing, do you.
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  Speaker 3: Property? I get right, I read the property market very well,
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  Speaker 3: but interest rates I don't read accurately.
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  Speaker 1: Actually, when I mentioned the introduction, because you have you
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  Speaker 1: did have a time when everything went south and you
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  Speaker 1: ended up rebuilding. Yeah, is that basically because the lessons
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  Speaker 1: that you learned during that time were ones that you
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  Speaker 1: were doing and never to repeat because they were hard
• 5:01
  Speaker 1: lessons hard learned.
• 5:03
  Speaker 3: Well, you know, funny enough, I was talking about this
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  Speaker 3: just the other day, and it's like, it does make
• 5:08
  Speaker 3: you stronger. It's the absolute cramp you go through teaches
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  Speaker 3: you a huge amount. And so it taught me things like,
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  Speaker 3: don't get bad debt with all your good debt, make
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  Speaker 3: sure your mortgages are all covered so everything's cash flow positive,
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  Speaker 3: and you can have your cake and eat it too,
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  Speaker 3: as long as you pay for things by cash or
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  Speaker 3: invest your cash to pay for the things that you
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  Speaker 3: want to buy. So, yeah, I just didn't repeat all
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  Speaker 3: those same mistakes. Interest rates are kind of neither here
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  Speaker 3: nor there if you've got a really solid foundation in
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  Speaker 3: your property portfolio.
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  Speaker 1: Yeah, in fact, you remimmy of We often used to
• 5:42
  Speaker 1: chat to Tony Alexander, who hated making predictions. Sort of
• 5:47
  Speaker 1: didn't really hate it, but he used to joke that
• 5:49
  Speaker 1: his way of finding out something wouldn't go wrong was
• 5:51
  Speaker 1: be predicted that it would, and it would always always
• 5:54
  Speaker 1: go the other way around. So assuming that that interest
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  Speaker 1: rates are going to drop pretty sweat over the next
• 6:00
  Speaker 1: few months, which could see at least a point, as
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  Speaker 1: I say, with the cash rate, which would will you
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  Speaker 1: imagine would translate into a point off most of the
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  Speaker 1: interest rates? What does that mean? And I'm guessing when
• 6:14
  Speaker 1: I'm asking you for predictions as well for the investment market,
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  Speaker 1: because intuitively, as I say, I sit on the sidelines
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  Speaker 1: and watch and usually when I'm right, when I'm on
• 6:22
  Speaker 1: the sidelines. But there must be some energy building.
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  Speaker 3: Do you think I tell you what here's my I'll
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  Speaker 3: tell you my prediction, and then I'll tell you what's
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  Speaker 3: actually happening in the market, what I've seen. We were
• 6:32
  Speaker 3: out hunting for property every day, so I said a
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  Speaker 3: couple of months ago that I thought we were we'd
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  Speaker 3: already hit the bottom of the market and we were turning.
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  Speaker 3: And then we went through a period where the market
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  Speaker 3: was slow, but the price is held.
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  Speaker 1: Now.
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  Speaker 3: I think that prices are starting to rise, and my
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  Speaker 3: prediction is that twenty twenty five, twenty twenty six will
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  Speaker 3: continue to rise, rise, rise, and we'll peak in twenty
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  Speaker 3: twenty seven. Don't know where in twenty on.
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  Speaker 1: Why would I peak in twenty twenty seven, just because
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  Speaker 1: we will recover a bit it's interest and then it'll
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  Speaker 1: get it up to a certain point where it'll just
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  Speaker 1: have to hang around.
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  Speaker 3: Two reasons really. One is the property market is cyclical,
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  Speaker 3: and typically if you look back historically over the last
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  Speaker 3: one hundred years, the property market has a seven year cycle.
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  Speaker 3: So I work on that. But the other reason is
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  Speaker 3: too you've got to the government will always look to
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  Speaker 3: control the market when it gets too hot, because you know,
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  Speaker 3: things move too quickly, so that'll no doubt happen, and
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  Speaker 3: then they'll put different things into place to slow things down,
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  Speaker 3: probably the DTI switch which they've put in place. They'll
• 7:31
  Speaker 3: hit dt I sorry and yeah, yeah, so that's in place,
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  Speaker 3: but at the moment it's all zero. So therefore, when
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  Speaker 3: the market gets too hot, they can sort of flick
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  Speaker 3: that switch to make it more difficult to borrow. So
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  Speaker 3: you know, they've put good countermeasures in place. So that's
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  Speaker 3: the reason why when it starts to peak, and then
• 7:50
  Speaker 3: you'll have some world event happen that we don't foresee.
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  Speaker 1: Anger, God, we might have had that just now and
• 7:55
  Speaker 1: about an hour ago, did you see the news on Israel.
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  Speaker 3: And ran, well, yeah, exactly.
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  Speaker 1: We might actually touch on that as well as to
• 8:01
  Speaker 1: how I'm sort of global events unless not over dramatized things. Okay,
• 8:06
  Speaker 1: we're not going to We're not here to scaremonger, but
• 8:08
  Speaker 1: there are some big headlines about Israel attacking Irana in
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  Speaker 1: the last couple of hours. But so just before we
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  Speaker 1: get into why the market might move on and what
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  Speaker 1: it's going to look like in the next year or two.
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  Speaker 1: Let's just so we can because not everyone's listening to
• 8:24
  Speaker 1: the show every week on this Where are we at
• 8:26
  Speaker 1: with where we've been through? What's a good way to
• 8:30
  Speaker 1: sum up the situation the market? Where we've had COVID,
• 8:33
  Speaker 1: we've had cheap money, we've had the interst rates go
• 8:37
  Speaker 1: through the floor, and then property prices go through the roof,
• 8:40
  Speaker 1: and now we've had high inflation, high interest rates, and
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  Speaker 1: everything's settling. Where do you see the market in terms
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  Speaker 1: of an equilibrium, if it ever is an equilibrium.
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  Speaker 3: That's a good question. I think the market is price
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  Speaker 3: wise buying, we're at the bottom, but we're now getting competitions.
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  Speaker 3: Month that I've been buying property more so the last
• 9:04
  Speaker 3: three weeks, I'm now getting a multi offer or it's
• 9:08
  Speaker 3: already sold, or they're selling under the hammer at auction,
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  Speaker 3: so things are stardding to move, whereas a month ago
• 9:13
  Speaker 3: I didn't have to worry so multi offer it was
• 9:15
  Speaker 3: just me.
• 9:16
  Speaker 1: That sounds dramatic already the way you're describing it, but
• 9:18
  Speaker 1: it is. It is. It's still got a certain level
• 9:21
  Speaker 1: of sort of it's just idling with a bit more
• 9:24
  Speaker 1: revsty Yeah.
• 9:25
  Speaker 3: Correct, because the prices aren't rising yet, so people might
• 9:30
  Speaker 3: still play pay asking price or close to it. And
• 9:34
  Speaker 3: when you consider the market at a peak, things go
• 9:37
  Speaker 3: way over asking price. You know, I sold one of
• 9:40
  Speaker 3: mine at auction, and when one hundred thousand dollars over
• 9:43
  Speaker 3: my reserve, which I set what I thought was the
• 9:45
  Speaker 3: top of the market, where is it the moment?
• 9:47
  Speaker 1: So you were surprised by that?
• 9:49
  Speaker 4: No?
• 9:49
  Speaker 3: I knew it was the peak, which is why I
• 9:50
  Speaker 3: put that particular property on the So.
• 9:53
  Speaker 1: You weren't surprised by the one hundred extra no, okay?
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  Speaker 5: So what.
• 9:59
  Speaker 1: What what does it mean in terms of so the
• 10:03
  Speaker 1: market's moving a little bit now, what are the downward
• 10:05
  Speaker 1: pressures that would still exist on property prices? And what
• 10:10
  Speaker 1: are the things that are going to stop at going nuts? Well?
• 10:13
  Speaker 3: I wonder traditionally over Christmas the market dies, you know,
• 10:17
  Speaker 3: people go on holiday and they're not interested. So I
• 10:21
  Speaker 3: wonder whether we'll have the traditional December January lull where
• 10:25
  Speaker 3: not very many sales happens.
• 10:28
  Speaker 1: The current unemployment sort of situation, And because New Zealand
• 10:31
  Speaker 1: does feel I don't know, it just feels like things
• 10:34
  Speaker 1: are not rocking and rolling at the moment, doesn't We've
• 10:36
  Speaker 1: had a lot of people lose their jobs and things,
• 10:38
  Speaker 1: and how much does the current economic climate So you know,
• 10:42
  Speaker 1: on paper, pretending we all add jobs and everything, you'd
• 10:44
  Speaker 1: look at the market and going right, well, you know,
• 10:46
  Speaker 1: everything's starting to move again. It could go nuts, but
• 10:48
  Speaker 1: there are a lot of people who don't have jobs.
• 10:50
  Speaker 1: There's a lot of businesses, you know. You look at
• 10:52
  Speaker 1: the commercial areas around even around Auckland. I saw the
• 10:55
  Speaker 1: number of four lease places I saw in Takapuna when
• 10:58
  Speaker 1: I was there the other day actually shocked me. I thought,
• 11:01
  Speaker 1: whoa in one of the desirable housing shopping strips? Was
• 11:05
  Speaker 1: how does that balance out?
• 11:07
  Speaker 3: Well, it's interesting. I mean I remember when I went
• 11:09
  Speaker 3: to I listened to a really good economist and I
• 11:12
  Speaker 3: remember him explaining things really well in Layman's terms and
• 11:15
  Speaker 3: said that when it comes to the property market, you've
• 11:18
  Speaker 3: basically got a percentage of the property of the people
• 11:21
  Speaker 3: sorry who rent, so they're not really affected by the market.
• 11:25
  Speaker 3: So you know, things like unemployment, things like look, a
• 11:27
  Speaker 3: lot of businesses were hurt with COVID and took a
• 11:30
  Speaker 3: few years before they went under. So there's a lot
• 11:32
  Speaker 3: of people hurting out there, but they're sort of out
• 11:35
  Speaker 3: of the property market as such. And then you've got
• 11:38
  Speaker 3: a proportion of people who are retiring or they don't
• 11:41
  Speaker 3: have any mortgages and they're not affected by interest rates
• 11:45
  Speaker 3: and those sorts of things as well. So you've always
• 11:47
  Speaker 3: got a large percentage of the population unaffected and a
• 11:53
  Speaker 3: small percentage having a party in the property market.
• 11:57
  Speaker 1: And that's why it's sort of always like that.
• 12:00
  Speaker 3: It is it is, so yeah, all those things come
• 12:02
  Speaker 3: into it from an economic perspective. Where we are with inflation,
• 12:06
  Speaker 3: where we are with unemployment, where we are with the business,
• 12:10
  Speaker 3: you know, sort of forecasting and confidence economic world economic confidence.
• 12:15
  Speaker 3: But New Zealand seems to be a little bit insulated.
• 12:18
  Speaker 3: We sort of will always have our first home buyers
• 12:20
  Speaker 3: who are out there. The second home buyers are coming
• 12:22
  Speaker 3: back into the market. They haven't moved because they haven't
• 12:25
  Speaker 3: been able to afford to with interest rates, and that's
• 12:28
  Speaker 3: going to push the market as well.
• 12:29
  Speaker 1: I mean the second home buyers, you mean the ones
• 12:31
  Speaker 1: who are buying an investment property.
• 12:32
  Speaker 3: The ones who are selling selling their first home and
• 12:35
  Speaker 3: buying a bigger house.
• 12:37
  Speaker 1: Why would that ever be any different because you're always
• 12:39
  Speaker 1: buying it. Why would a second home buyers market, ever
• 12:42
  Speaker 1: be different because aren't you always buying and selling in
• 12:45
  Speaker 1: the same market.
• 12:46
  Speaker 3: You are, but you're borrowing more money because you're usually
• 12:48
  Speaker 3: upgrading to a bigger house. With interest rates being high
• 12:51
  Speaker 3: in the cost of living being high, they haven't been
• 12:53
  Speaker 3: able to afford to borrow more money, so they've stayed put.
• 12:56
  Speaker 1: Because some people would say, from a point of view
• 12:58
  Speaker 1: of getting into an investment property, the throwaway line I
• 13:02
  Speaker 1: could always throw in there because I've heard it so
• 13:03
  Speaker 1: many times, is the right time to buy is now?
• 13:06
  Speaker 1: Is that actually true? Or are there times where you're like, well, actually,
• 13:10
  Speaker 1: to be honest, the time not to buy probably was
• 13:12
  Speaker 1: when interest rates crept up and the market started to crash.
• 13:17
  Speaker 3: Look, if you were going to be ideal, you'd want
• 13:20
  Speaker 3: to buy at the bottom of the market where nobody
• 13:23
  Speaker 3: else is because property is on sale. But the problem
• 13:27
  Speaker 3: with the bottom of the market is borrowing is really difficult.
• 13:30
  Speaker 1: Well that's the reason. It's because it's expensive to borrow.
• 13:33
  Speaker 3: Exactly, and the banks don't forget. The banks only ever
• 13:36
  Speaker 3: see risks at the bottom of the market. They're like
• 13:39
  Speaker 3: risk risk, risk risks, so we don't want to lend.
• 13:42
  Speaker 3: So it's good in theory to say buy at the bottom,
• 13:45
  Speaker 3: but it's not always easy. And the other consideration too,
• 13:48
  Speaker 3: especially for a lot of investors who are self employed,
• 13:52
  Speaker 3: is that when the economy is great and times are thriving,
• 13:56
  Speaker 3: their books look brilliant for the banks to lend. If
• 13:59
  Speaker 3: they wait to the down market, their books look terrible
• 14:02
  Speaker 3: and they can't buy.
• 14:03
  Speaker 1: Okay, So we want to take your calls on this.
• 14:06
  Speaker 1: Are you with the change in interest rates? Are you
• 14:11
  Speaker 1: re or started not rethinking or starting to think? What
• 14:14
  Speaker 1: is your attitude to buying property now that the market
• 14:17
  Speaker 1: is well, that the money market at least looks like
• 14:20
  Speaker 1: money is going to get a little bit cheaper or
• 14:22
  Speaker 1: maybe quite a lot cheaper. What is your you know,
• 14:25
  Speaker 1: are you revisiting what you're going to do? Are you
• 14:28
  Speaker 1: thinking about buying an investment property? Is now the time
• 14:30
  Speaker 1: to do it? Give us a call. Oh, eight hundred
• 14:33
  Speaker 1: and eighty ten eighty in text on nine two nine two.
• 14:35
  Speaker 1: My guest is property investor Nicole Lewis, who has written
• 14:39
  Speaker 1: a book which I have in my pack here called
• 14:41
  Speaker 1: The Property Quadrants. There we go, we'll be back in
• 14:44
  Speaker 1: just tomorrow. News Talks B twenty one past four.
• 14:48
  Speaker 2: One of them.
• 14:56
  Speaker 1: Now Welcome back to the One Roof radio show. I'm
• 15:03
  Speaker 1: Tim Beverage. My guest is property investor Nicole Lewis. With
• 15:07
  Speaker 1: the money becoming cheaper, are you changing your plans or
• 15:10
  Speaker 1: you thinking about actually having a plan when it comes
• 15:12
  Speaker 1: to getting into either an investment property or your first house.
• 15:15
  Speaker 1: Oh wa eight one hundred and eighty ten eighty. Let's
• 15:17
  Speaker 1: get him some calls.
• 15:18
  Speaker 2: Richard Hello, Richard, Hello, I'm on the Northern Northern tole Raid.
• 15:29
  Speaker 1: Okay, we've got Youah, Let's let's see how we go. Okay,
• 15:34
  Speaker 1: you have cut out. I'll just put you back. It
• 15:38
  Speaker 1: didn't last very well. I just get my producer to
• 15:40
  Speaker 1: check if your receptions improved or not. Um. Anyway, let's
• 15:46
  Speaker 1: have a couple of texts and we'll get carry on
• 15:47
  Speaker 1: with our conversation and Nicole. One person says, oh, to
• 15:52
  Speaker 1: have investment properties is false economy. Bring on the capital
• 15:55
  Speaker 1: gains tax. We were just talking about a capital gains tax.
• 15:59
  Speaker 1: I don't know what they mean by false economy, but
• 16:04
  Speaker 1: the we would just talk about a capital gains tax.
• 16:07
  Speaker 1: And I don't think a capital gains tax would make
• 16:09
  Speaker 1: a blind bit of difference to the property market, would
• 16:11
  Speaker 1: it not? Really mean, So if you can make money,
• 16:15
  Speaker 1: you're still going to want to make money. Who cares
• 16:16
  Speaker 1: if you have to pay tax on it?
• 16:18
  Speaker 3: Correct? I mean it's a little bit tough in the
• 16:19
  Speaker 3: sense that you know, when you had the ten year
• 16:21
  Speaker 3: bright line, you don't know what's going to happen in
• 16:24
  Speaker 3: ten years. Life changes. But look at the end of
• 16:26
  Speaker 3: the day, I look at it saying, if we're making
• 16:28
  Speaker 3: money in paying taxes, that's a good thing. I'd rather
• 16:30
  Speaker 3: be making money in paying tax than not making anything.
• 16:32
  Speaker 1: Actually, if you're a property investor in your turning or
• 16:35
  Speaker 1: developers pay tax for all their properties. And at what
• 16:39
  Speaker 1: point do property investors become like a developer?
• 16:43
  Speaker 4: Is it?
• 16:44
  Speaker 1: Because is there a sort of you know what I mean,
• 16:46
  Speaker 1: it's not just about flipping properties on But if you
• 16:49
  Speaker 1: are regularly trading in property, when does that yeah?
• 16:52
  Speaker 3: Correct? So there's two different taxable activities. So property is
• 16:56
  Speaker 3: considered a taxable activity, and you set up a separate
• 16:58
  Speaker 3: GST registered entity because you're doing property as a business.
• 17:02
  Speaker 3: If you're a developer or a trader, so if you
• 17:05
  Speaker 3: buy and sell and buy and sell, that's considered taxable activity.
• 17:09
  Speaker 3: Whereas if you're an investor and you just hold then that,
• 17:12
  Speaker 3: of course, is not a tax of electivity that falls
• 17:14
  Speaker 3: under Brighton.
• 17:16
  Speaker 1: I think it was interesting the comments. This is story
• 17:19
  Speaker 1: is a little while ago, but I think we're king
• 17:21
  Speaker 1: to get your take on it. You might remember Antonia Watson,
• 17:23
  Speaker 1: the CEO of A and Z. I'm not forgetting about
• 17:25
  Speaker 1: the recent select committee, but remember she made her comments
• 17:29
  Speaker 1: about a CGT, which I think we're almost taken out
• 17:33
  Speaker 1: of context because she was basically acknowledging or saying what
• 17:36
  Speaker 1: she believed that if you are buying an investment property,
• 17:41
  Speaker 1: if you're really honest, most people are doing it because
• 17:44
  Speaker 1: they are looking for that gain when they sell the property.
• 17:48
  Speaker 1: Because she was talking about the poor yields you get
• 17:50
  Speaker 1: as an investor, mean that really you're buying that for
• 17:54
  Speaker 1: the capital gains, which technically actually means you should pay
• 17:57
  Speaker 1: tax on it anyway under New Zealand law.
• 18:00
  Speaker 3: I'm going to throw that right under the bus, that comment,
• 18:03
  Speaker 3: because really, when I say to people who come to
• 18:06
  Speaker 3: me for mentoring and coaching, I say, what is the
• 18:09
  Speaker 3: purpose of buying your investment property? And they say cash flow.
• 18:13
  Speaker 3: They want money coming in, but they want to have
• 18:15
  Speaker 3: capital gains eventually, and I go why what do you
• 18:17
  Speaker 3: want to do with that money? So you have a
• 18:20
  Speaker 3: poor yield if you buy wrong. If you buy right,
• 18:25
  Speaker 3: you have a really good yield, and you have high
• 18:27
  Speaker 3: cash flow, which is why you should be investing, so
• 18:30
  Speaker 3: you can retire off that money and have passive income
• 18:33
  Speaker 3: and the capital gains become a byproduct.
• 18:36
  Speaker 1: Ah, because I would. I've always assumed that given the
• 18:41
  Speaker 1: cost of money, that most investors are subsidizing the cost
• 18:47
  Speaker 1: of borrowing through you know, they're topping it up. In fact,
• 18:50
  Speaker 1: how many investments most people are topping it most world.
• 18:52
  Speaker 3: But they shouldn't because they've brought wrong really correct.
• 18:56
  Speaker 1: Ah, you make that sound like a like is that
• 19:02
  Speaker 1: an easy thing to get right?
• 19:05
  Speaker 3: Look? Put it if you're gonna If you've got a
• 19:08
  Speaker 3: well balanced property portfolio, seventy five percent of your properties
• 19:13
  Speaker 3: should be cash producing assets, so you should have money
• 19:16
  Speaker 3: left over after you've paid your mortgage, insurance, your rates,
• 19:19
  Speaker 3: your maintenance, and your property management fits. And twenty five
• 19:22
  Speaker 3: percent of that property portfolio can be a high end
• 19:26
  Speaker 3: capital gain property that you've got to top up, but
• 19:29
  Speaker 3: you can top it up from your other passive income,
• 19:31
  Speaker 3: so it still costs you nothing. So if you balance
• 19:33
  Speaker 3: your portfolio. That's what it should look like. It's easier
• 19:37
  Speaker 3: to find a standard three bedroom, one bathroom house that
• 19:41
  Speaker 3: will be cash negative than it is to find a
• 19:44
  Speaker 3: multi income property that will be cash positive. But you
• 19:47
  Speaker 3: should be searching for those multi income cash positives. That's
• 19:50
  Speaker 3: how to secure your portfolio, and so you don't get
• 19:54
  Speaker 3: yourself in trouble when interest rates go up, because the
• 19:58
  Speaker 3: same story.
• 19:58
  Speaker 1: During the boom I guess the story and the boom
• 20:02
  Speaker 1: boom times. Well, the stories that you read in the
• 20:04
  Speaker 1: media as people who leverage themselves up the ying yang yep,
• 20:08
  Speaker 1: and they end up making because they're brought into really
• 20:11
  Speaker 1: expensive properties which as a percentage, you know, if they
• 20:14
  Speaker 1: have a certain percentage in their increase in price, that's
• 20:17
  Speaker 1: a lot of money. And so they hang on for
• 20:20
  Speaker 1: grim death and then they make a fortune. And that
• 20:24
  Speaker 1: seems to me that most of the stories you read
• 20:26
  Speaker 1: about property investing are about those high risk, massive return
• 20:33
  Speaker 1: investments which people have made.
• 20:35
  Speaker 3: Yeah, but they're not I mean true, you do read
• 20:36
  Speaker 3: about those things, but they're not a common story.
• 20:39
  Speaker 1: Well, that's why I was asking about it. What are
• 20:42
  Speaker 1: the common stories?
• 20:43
  Speaker 3: So, because it depends it depends on affordability, I mean,
• 20:46
  Speaker 3: if you've got a few million dollars and you can
• 20:48
  Speaker 3: go and buy a high end property and it's going
• 20:50
  Speaker 3: to go up by a few million dollars, great, But
• 20:52
  Speaker 3: that's not the majority of people. The majority of people
• 20:55
  Speaker 3: can only afford to get into a lower level investment
• 20:58
  Speaker 3: property and it goes up over time. So most people
• 21:01
  Speaker 3: want to hold long term.
• 21:03
  Speaker 1: And those days of actually doing that, you know, basically
• 21:08
  Speaker 1: buying as expensive as you can go and hanging in
• 21:10
  Speaker 1: there for the capital gain. I think I would imagine
• 21:14
  Speaker 1: that those stories will be more on the decline anyway,
• 21:17
  Speaker 1: because I can't imagine the heady days of the market
• 21:20
  Speaker 1: that it seemed like there was a time when, look,
• 21:23
  Speaker 1: you didn't need to think about it too much. Just
• 21:24
  Speaker 1: by a property you make a fortune where you go, well,
• 21:28
  Speaker 1: you still will.
• 21:29
  Speaker 3: You've got to have the money to do it in
• 21:30
  Speaker 3: the first place.
• 21:31
  Speaker 1: Okay, right, let's take some calls. I think Richard, Hello,
• 21:37
  Speaker 1: doing that's all right?
• 21:39
  Speaker 2: Oh?
• 21:39
  Speaker 1: This is Richard is on the north on the Expressway. Yep,
• 21:42
  Speaker 1: where you go.
• 21:44
  Speaker 6: Yeah, So we just bought a rental property in Uptonville
• 21:48
  Speaker 6: three months ago because I decided that we've waited long
• 21:51
  Speaker 6: enough and we just made the jump. I don't think
• 21:55
  Speaker 6: house prices are going to get much.
• 21:57
  Speaker 2: Cheaper, yep.
• 22:00
  Speaker 3: I would agree with you there.
• 22:02
  Speaker 1: So and how's it gone so far? And how did
• 22:06
  Speaker 1: you how did you structure it all?
• 22:11
  Speaker 6: Well, I'm a bad investor by the sound of it.
• 22:15
  Speaker 2: I buy the most.
• 22:17
  Speaker 6: Rundown properties I can, and I fixed them myself. I'm
• 22:20
  Speaker 6: a painter, flash handy man. I'm actually just coming back
• 22:24
  Speaker 6: from Kywalker.
• 22:25
  Speaker 4: Now.
• 22:25
  Speaker 6: I've been renovating one at the moment, but the one
• 22:30
  Speaker 6: we bought in Holtonville is a brand new soundhouse. So
• 22:32
  Speaker 6: we decided we were going to start to get rid
• 22:34
  Speaker 6: of our older houses.
• 22:36
  Speaker 2: And buy new.
• 22:38
  Speaker 6: And at the moment it costs us a thousand dollars
• 22:41
  Speaker 6: a week on top of the rent woof but we
• 22:46
  Speaker 6: can afford that. So where it's kind of like the savings.
• 22:49
  Speaker 3: Account really and what's your long term goal with that?
• 22:55
  Speaker 6: Well, we bought one and we kept that. We kept
• 23:00
  Speaker 6: it for eight years when we sold it, and then
• 23:03
  Speaker 6: that helped finance us into more, and then we bought
• 23:06
  Speaker 6: two more and now we've brought another one, and I
• 23:11
  Speaker 6: guess what we want to do is to consolidate everything
• 23:14
  Speaker 6: into one or two eventually that gives us an income.
• 23:20
  Speaker 6: So I'm currently looking. I think, christy fingers, I think
• 23:25
  Speaker 6: four years' time we'll have one three holes that will
• 23:28
  Speaker 6: give up from it and then we can look for more.
• 23:30
  Speaker 6: I guess, but it's hard.
• 23:33
  Speaker 1: How did you go about formulating your plan on how
• 23:36
  Speaker 1: you are going to approach your investment?
• 23:39
  Speaker 2: We didn't.
• 23:40
  Speaker 6: We just we like this house, that's buy it, and
• 23:43
  Speaker 6: then we like that house, that's buy it.
• 23:46
  Speaker 4: Yeah.
• 23:47
  Speaker 6: We've never spent more than twenty four hours looking at
• 23:50
  Speaker 6: a house.
• 23:52
  Speaker 1: See that terrifies me, Richard. So howd a minute? So
• 23:56
  Speaker 1: how much did you you're subsidizing the mortgage on the
• 24:00
  Speaker 1: particular purchase by one thousand bucks a week?
• 24:03
  Speaker 6: Did you say, no, we've got three rentals at the
• 24:05
  Speaker 6: moment and all up there costing me a thousand dollars
• 24:08
  Speaker 6: a week on top of the rents.
• 24:10
  Speaker 1: Okay, and how much have you outlaid for those properties?
• 24:13
  Speaker 1: May I ask?
• 24:15
  Speaker 6: Well, at the moment, my mortgage is one point six million.
• 24:19
  Speaker 1: Yeah, but we do have a free whole house. Okay.
• 24:24
  Speaker 1: And you just decided I'm going to buy some property
• 24:26
  Speaker 1: and let's go and look, you must come on. You
• 24:28
  Speaker 1: make it sound like you just wandered and sort, I
• 24:31
  Speaker 1: like this house I'm going to buy. So what did
• 24:33
  Speaker 1: you like about the house? Because there's got to be
• 24:35
  Speaker 1: some more information about behind this, doesn't there?
• 24:39
  Speaker 6: No, Because because I'm a painter and I've worked in
• 24:41
  Speaker 6: older houses, I know what the what their potential is
• 24:45
  Speaker 6: and I know how to tell whether it's got good
• 24:48
  Speaker 6: bones or not. And so my wife, she's typical checking
• 24:53
  Speaker 6: trade me all the time. She says, what about this one?
• 24:56
  Speaker 6: And I say, okay, let's go have a lock. And
• 24:58
  Speaker 6: I spend about half an hour looking around thinking, yeah, okay,
• 25:01
  Speaker 6: let's buy it.
• 25:02
  Speaker 1: Okay, I'm guessing you had a price limited mind? Did you?
• 25:05
  Speaker 1: Did you have a price range you're exploring on trade me?
• 25:10
  Speaker 6: You know, well, we've never bought a house over four
• 25:12
  Speaker 6: hundred thousands, apart from the new one. We've just the
• 25:15
  Speaker 6: new one we just bought with nine hundred thousand.
• 25:18
  Speaker 1: Okay, because that is that is a that is a
• 25:21
  Speaker 1: you know, knowing your limit. I guess it's not that
• 25:24
  Speaker 1: you were going to wander out and buy three million
• 25:25
  Speaker 1: dollar houses. What I mean, you must you must have
• 25:27
  Speaker 1: worked out okay, we can spend up to X right.
• 25:31
  Speaker 6: Well, to be honest, my wife spent ten is working
• 25:35
  Speaker 6: at ASB Bank, so I let her sort out what
• 25:38
  Speaker 6: we can afford, and I tell her what we can text.
• 25:41
  Speaker 3: There you go. I've got I've got a challenge for you.
• 25:44
  Speaker 3: I've got a challenge. So nine hundred thousand for the
• 25:46
  Speaker 3: new house that you just bought, why did you decide
• 25:50
  Speaker 3: to do that and not spend nine hundred thousand dollars
• 25:52
  Speaker 3: buying a block of units that would be cash flow
• 25:54
  Speaker 3: positive for you?
• 25:57
  Speaker 6: Because I'm over it. We really want to spend the
• 26:00
  Speaker 6: next three to four years and get rid of our
• 26:02
  Speaker 6: older houses and go into newer houses.
• 26:05
  Speaker 1: Mm hmmm.
• 26:06
  Speaker 3: Why would they have to be older ones that you
• 26:07
  Speaker 3: bought though.
• 26:11
  Speaker 6: I'm just I'm starting to get sick of the maintenance. Yeah,
• 26:16
  Speaker 6: and newer houses, yes, they do have maintenance, but typically
• 26:21
  Speaker 6: they you know, I mean the townhouse we bought now
• 26:24
  Speaker 6: we don't even have to paint the outside. So as
• 26:27
  Speaker 6: long as if I have to spend maybe two weeks
• 26:31
  Speaker 6: every three years doing something, and then I don't care.
• 26:34
  Speaker 6: But at the moment I've got one that I've been
• 26:37
  Speaker 6: there a week every three months doing something.
• 26:43
  Speaker 3: Yeah, that makes sense. Have you've been doing a lot
• 26:45
  Speaker 3: of it yourself and you're over it, which makes sense.
• 26:47
  Speaker 2: Yeah, yeah, I want to I want to slow down.
• 26:51
  Speaker 3: Well, you could also pay someone else to do the maintenance.
• 26:54
  Speaker 3: That's possible if you've got money left over from it all,
• 26:58
  Speaker 3: you can still pay maintenance.
• 27:00
  Speaker 6: Really, at the moment, when it's costing us a thousand
• 27:03
  Speaker 6: dollars a week, I just feel like I don't want
• 27:05
  Speaker 6: to pay.
• 27:06
  Speaker 2: Someone to do No.
• 27:07
  Speaker 3: I totally agree. But if you were earning one thousand
• 27:10
  Speaker 3: dollars a week consider of it costing you, then you
• 27:11
  Speaker 3: could pay someone else to do it.
• 27:14
  Speaker 1: Well.
• 27:14
  Speaker 6: Before, before COVID, we were cash boy natural. So actually,
• 27:18
  Speaker 6: since the race have gone up that we yet.
• 27:22
  Speaker 1: Is there something so you say you're a painter, is
• 27:25
  Speaker 1: there something that just emotionally as well, if you would
• 27:27
  Speaker 1: struggle to pay someone to do the painting, If and
• 27:31
  Speaker 1: you're thinking, oh, I really should do this myself, is
• 27:35
  Speaker 1: that part of the problem. You just don't want.
• 27:39
  Speaker 6: A nail on the head.
• 27:40
  Speaker 3: Yeah, and nobody does job.
• 27:43
  Speaker 6: I couldn't get anyone to pay my house ever.
• 27:46
  Speaker 1: Yeah, I mean that's I mean, that's and that's that's
• 27:49
  Speaker 1: he knows what he wants. I think what I was
• 27:51
  Speaker 1: trying to narrow in on there was I just wanted
• 27:53
  Speaker 1: to know what his parameters were, because from the start
• 27:55
  Speaker 1: of the call it sounded like, oh, look, I just
• 27:58
  Speaker 1: wanted to buy a property. My wife looked and we went,
• 28:00
  Speaker 1: let's buy that one. But so I was trying to
• 28:01
  Speaker 1: dig into because every investor must have parameters they're looking
• 28:05
  Speaker 1: at because otherwise because I mean, I mean, that was
• 28:08
  Speaker 1: a fun call from Richard, But initially it started off
• 28:10
  Speaker 1: like I just wanted to buy a house, and that
• 28:11
  Speaker 1: looks good, let's go do that. I'm like, there has
• 28:15
  Speaker 1: to be more in then my wife's work I'm a
• 28:17
  Speaker 1: painter and buildings all the time, or wife works at
• 28:19
  Speaker 1: the ANZ. I guess that's the biggest journey for an
• 28:23
  Speaker 1: investor is to work out their parameters.
• 28:26
  Speaker 3: Yes it is, and always say go and have a
• 28:28
  Speaker 3: chat to a mortgage broker or a bank and find
• 28:30
  Speaker 3: out what you can borrow. But don't forget that your
• 28:33
  Speaker 3: borrowing power gets higher if you've got more rent. So
• 28:37
  Speaker 3: if you buy a property that's got three income streams
• 28:39
  Speaker 3: and you're getting fifteen hundred dollars a week, that puts
• 28:43
  Speaker 3: you in a much better cash flow position than if
• 28:45
  Speaker 3: you buy a single townhouse or something that's giving you
• 28:48
  Speaker 3: six hundred dollars a week.
• 28:50
  Speaker 1: Right, let me never to take a break, and I'm
• 28:52
  Speaker 1: going to come on. We're going to dig into this
• 28:53
  Speaker 1: a bit more. But if you want to pick Nicole
• 28:54
  Speaker 1: Lewis's brains on things, she knows a few things about
• 28:57
  Speaker 1: property investment, then you can give us a call. One
• 29:00
  Speaker 1: hundred eighty ten eighty. But we started the show just
• 29:03
  Speaker 1: with the question does I should have phrased this better?
• 29:07
  Speaker 1: But does the current environment is that? Is it causing
• 29:10
  Speaker 1: you to think it's time to get into the market now?
• 29:13
  Speaker 1: Because the interest rate's about to fall a bit further,
• 29:17
  Speaker 1: property might be getting a little bit more affordable. So
• 29:19
  Speaker 1: are you thinking now's the time I've got to start
• 29:21
  Speaker 1: giving this some serious thoughts. You may have just taken
• 29:24
  Speaker 1: your hands off the controls of the last few years
• 29:26
  Speaker 1: and thought, oh, I'm not getting in here. It looks
• 29:27
  Speaker 1: it looks pretty, it looks pretty dire. But right now
• 29:30
  Speaker 1: maybe that's changing. It's twenty one minutes to five news talks.
• 29:33
  Speaker 1: He'd be there between. Let's welcome back to the weekend collective.
• 29:58
  Speaker 1: Got time flies when you're having f and if you've
• 30:00
  Speaker 1: got any questions, we'd love to hear from you. Nicole
• 30:02
  Speaker 1: Lewis as my guest. She is the author of property Quadrants.
• 30:05
  Speaker 1: She went from having property to having none, and she's
• 30:08
  Speaker 1: real rebuilt her property portfolio and life and she's doing
• 30:12
  Speaker 1: all right. I think, anyway, what basically, what is stopping
• 30:17
  Speaker 1: you from getting into the property market now that interstrates
• 30:23
  Speaker 1: look like they're about to keep falling, Because I think
• 30:26
  Speaker 1: from many people, we've been through COVID, we've been through
• 30:28
  Speaker 1: high interest rates, and probably a lot of people took
• 30:30
  Speaker 1: their hands off the control and went I'm out, I'm
• 30:32
  Speaker 1: not doing anything. But is now the time you really
• 30:35
  Speaker 1: need to reconsider that. I'd love to hear from you
• 30:37
  Speaker 1: on eight hundred and eighty ten eighty, because yeah, I was.
• 30:42
  Speaker 1: I mean I should sort of be in a property
• 30:45
  Speaker 1: I've been talking about it. I host a property show.
• 30:47
  Speaker 2: You know.
• 30:47
  Speaker 1: I haven't brought up an investment property yet. Nicole, let
• 30:50
  Speaker 1: me get you.
• 30:51
  Speaker 3: To answer the own question that what stops you buying
• 30:54
  Speaker 3: a property now?
• 30:57
  Speaker 1: I would say, to be honest, fear and that's massive
• 31:02
  Speaker 1: fear about losing everything, about being that guy who wouldn't
• 31:07
  Speaker 1: you believe it Old Tim Beverage, you know, and he
• 31:09
  Speaker 1: just brought it the wrong time. And he just ruined
• 31:11
  Speaker 1: his life. There we go. That is honest. That's that's
• 31:15
  Speaker 1: the reason I don't because I think that I'll be
• 31:17
  Speaker 1: the one who misses some obvious sign and just ballses
• 31:22
  Speaker 1: it up and that's life done.
• 31:24
  Speaker 3: You know what, You're not the only one that thinks
• 31:25
  Speaker 3: like that. A lot of people think property is risky
• 31:28
  Speaker 3: and it's scary something. You know what they're doing.
• 31:29
  Speaker 1: And the funny thing is I produce concerts and you know,
• 31:32
  Speaker 1: and the risks of those are significant, not life ruining,
• 31:37
  Speaker 1: but certainly you know, savings destroying. It's weird, isn't it.
• 31:41
  Speaker 1: Our attitude to risk, well.
• 31:43
  Speaker 3: Attitude to risk is lack of knowledge. So if people
• 31:46
  Speaker 3: don't know anything about property, of course they're reluctant to buy.
• 31:50
  Speaker 3: So how can you get more confident in your purchase?
• 31:54
  Speaker 1: And as I say, I has to property show, it's
• 31:56
  Speaker 1: ridiculous And I can tell lots of people. I can
• 31:59
  Speaker 1: watch things and go, so that's going to go. I'll watch.
• 32:01
  Speaker 1: I mean, the joke used to be or Hamilton's going
• 32:03
  Speaker 1: to go and Hamilton wentz and I just watched it go.
• 32:05
  Speaker 1: But anyway, hey, let's take some calls on that. What's
• 32:07
  Speaker 1: the reason you're not doing it and maybe we can
• 32:09
  Speaker 1: overcome it. Bruce Slow, Yeah.
• 32:12
  Speaker 4: Hi, Mamus, Bruce here. Thank you for talking to me.
• 32:14
  Speaker 4: Interesting discussion. Thank you yourself and Nicole. My question is
• 32:18
  Speaker 4: this is that I understand your multi income approach that
• 32:21
  Speaker 4: you talked about for rental urns. That's wonderful, and obviously
• 32:24
  Speaker 4: it'll be a low a capital purchase to start with.
• 32:26
  Speaker 4: That's wonderful. But then surely once you've done the ten
• 32:29
  Speaker 4: year bright line test and you then go to resell
• 32:32
  Speaker 4: the property after ten years plus or the rental market,
• 32:35
  Speaker 4: is not the return going to be a lot lower
• 32:37
  Speaker 4: than if you bought an individual property with us obviously
• 32:40
  Speaker 4: a little bit more to start with. I just wanted
• 32:42
  Speaker 4: to have that question for Nicole please.
• 32:46
  Speaker 3: Really it depends where you buy your property to be fair,
• 32:49
  Speaker 3: I mean, you're always going to have Auckland, for example,
• 32:51
  Speaker 3: that will appreciate more than probably in for Cargol.
• 32:54
  Speaker 4: I'm really referring to Walkland, Mason Orkanovis, and that's what
• 32:57
  Speaker 4: I am familiar with you.
• 32:58
  Speaker 3: Yeah, yes, if you buy a rental property or a
• 33:01
  Speaker 3: multi income in Auckland, it'll still appreciate it. If you
• 33:04
  Speaker 3: buy it somewhere out of Auckland. It will still go.
• 33:06
  Speaker 1: Up, but not as much.
• 33:10
  Speaker 4: Okay, So you're a suggesting to me that if you buy,
• 33:12
  Speaker 4: obviously you spend a lot less and start through your
• 33:14
  Speaker 4: multi income. That's great, But you're saying to me that
• 33:17
  Speaker 4: when you sell after ten years, brightline, you're going to
• 33:19
  Speaker 4: give a significant larger return on investment than if you board.
• 33:24
  Speaker 1: They're talking about ten years, brightline. There is where we're
• 33:27
  Speaker 1: out with. It's two two years.
• 33:29
  Speaker 4: Oh sorry, two years. I mean I'm just referring to
• 33:31
  Speaker 4: my own situation.
• 33:32
  Speaker 3: Yeah, you held for ten Yeah, that's right.
• 33:36
  Speaker 4: Yeah.
• 33:37
  Speaker 3: Look, here's what i'd say as I'd say that planning
• 33:40
  Speaker 3: your property portfolio depends on what your goals are. Whether
• 33:43
  Speaker 3: people want to buy for income in that case you
• 33:45
  Speaker 3: want your multi units, and then of course you have
• 33:48
  Speaker 3: a specific amount you can borrow up to. So if
• 33:52
  Speaker 3: you can only borrow a small amount, you need to
• 33:54
  Speaker 3: look outside of Auckland to get something. If you can
• 33:57
  Speaker 3: borrow a larger amount, of course you can buy in Auckland.
• 34:00
  Speaker 3: But either way, it's good to have a diverse portfolio.
• 34:03
  Speaker 4: Okay, So diversit your portfolo. That answers my question, Thank
• 34:06
  Speaker 4: you very much, so that obviously, if you're looking for
• 34:08
  Speaker 4: a high return versus income return versus capital gains, yeah,
• 34:12
  Speaker 4: you're in a mixed up portfolio.
• 34:15
  Speaker 1: Thanks Bruce. It's funny. I was pondering. I've got a
• 34:19
  Speaker 1: Richard who caught spoke before just texted saying, Tim Richard here,
• 34:22
  Speaker 1: just buy one, take the plunge. Yes, but actually I
• 34:25
  Speaker 1: think I was thinking about it, and we were having
• 34:27
  Speaker 1: a chat in the break, and it's all about, well, first,
• 34:29
  Speaker 1: you know, you need to work out what you can borrow.
• 34:32
  Speaker 1: You need to have a chat with your bank, have
• 34:33
  Speaker 1: a chat with a mortgage broker. And I think probably
• 34:36
  Speaker 1: it is about taking steps to give yourself information to
• 34:39
  Speaker 1: realize that, oh oh so this was what it would
• 34:42
  Speaker 1: look like. Because until you take steps and have you're
• 34:46
  Speaker 1: just going you're wandering around like a you know, someone
• 34:49
  Speaker 1: in the dark, aren't you look?
• 34:51
  Speaker 3: Talk to people. It's in property, Talk to property investors,
• 34:53
  Speaker 3: talk to people that got big portfolios. Probably people are awesome,
• 34:57
  Speaker 3: They're so happy to give advice and genuinely how and
• 35:00
  Speaker 3: you always want to talk to people who know what
• 35:02
  Speaker 3: they're doing.
• 35:02
  Speaker 1: Okay, let's take another call. Kelly. Hi, Kelly, Hello, Kelly, Hi.
• 35:09
  Speaker 4: How are you good.
• 35:09
  Speaker 5: Thanks, So Tom, I'm coming from the angle that honor
• 35:14
  Speaker 5: bit like you fear, I guess, fear it's stopped me.
• 35:19
  Speaker 5: So my situation is that I have equity, very lucky
• 35:24
  Speaker 5: heavy equity in my home. How we've are like single
• 35:30
  Speaker 5: with two teenage older teenage kids, and I've been thinking
• 35:33
  Speaker 5: a long time of you know, for a long time
• 35:35
  Speaker 5: about by about getting a rental you're actually doing something
• 35:39
  Speaker 5: with that equity. But yeah, it's just that fear, I guess,
• 35:44
  Speaker 5: of doing it on my own and.
• 35:46
  Speaker 1: What if, what would change? What would what would help
• 35:50
  Speaker 1: you change your mind to be taking baby steps and
• 35:52
  Speaker 1: getting info? What can you borrow? What's it mean? What's
• 35:54
  Speaker 1: the what would help you?
• 35:57
  Speaker 5: Yeah, I guess how much I could borrow. It's an
• 36:00
  Speaker 5: interesting the sense of conversation. So Oche. So I'd be
• 36:02
  Speaker 5: looking probably more out of Auckland start off with a
• 36:05
  Speaker 5: smaller I guess, looking out of Auckland with a higher
• 36:10
  Speaker 5: yield potentially. But yeah, I guess it's taking that step
• 36:14
  Speaker 5: of actually doing it.
• 36:16
  Speaker 1: And I actually felt quite liberated telling but being honest
• 36:19
  Speaker 1: for the first time saying I'm actually.
• 36:20
  Speaker 3: Just afraid of it, and don't forget it costs you
• 36:22
  Speaker 3: nothing to talk to someone as schedule with me. I
• 36:27
  Speaker 3: talk to people. I do thirty minute schedule properly. Calls
• 36:30
  Speaker 3: for nothing. Talk to me, Oh, I'll help you out.
• 36:33
  Speaker 3: Go and talk to a broker, find out what you
• 36:35
  Speaker 3: can borro it cost you nothing to ask.
• 36:38
  Speaker 5: Okay, sure, yeah, no, I think I'm going to actually
• 36:40
  Speaker 5: go down that path. Now that's giving me a bit
• 36:42
  Speaker 5: of confidence.
• 36:42
  Speaker 1: Good on you, and I think you know what, Kelly,
• 36:44
  Speaker 1: You've also called a national radio station, News Talks d
• 36:47
  Speaker 1: B nationwide and you've talked about it on here. I
• 36:49
  Speaker 1: think talking about your plans is also a really good
• 36:51
  Speaker 1: way to start fulfilling them. Anyway, we'll be back in
• 36:54
  Speaker 1: just to teck with the one roof Property of the Week.
• 36:57
  Speaker 1: It is ten and a half minutes to five. Yes,
• 36:59
  Speaker 1: News Talks be on tim Beverage. My guest is Nicole Lewis.
• 37:02
  Speaker 1: It is that time of the day. It's seven minutes
• 37:04
  Speaker 1: to five.
• 37:06
  Speaker 2: The one roof Property of the week on the weekend collective.
• 37:10
  Speaker 1: Now, I did tease this before something you might want
• 37:12
  Speaker 1: to check out, and I would absolutely recommend it. It is.
• 37:16
  Speaker 1: I think it is actually probably the most interesting looking
• 37:21
  Speaker 1: and appealing house I've looked at that. If I had
• 37:24
  Speaker 1: the money, I'd be like, honey, let's go and check
• 37:27
  Speaker 1: this out. It is eighty seven Rutherford Drive. Why can't
• 37:31
  Speaker 1: I beach Carpety Coast. It's the thing that stood out
• 37:35
  Speaker 1: to me is this amazing swimming pool they've got at
• 37:38
  Speaker 1: the front of it. It's a single level home with
• 37:41
  Speaker 1: five bedrooms and six bathrooms and as the words are
• 37:46
  Speaker 1: used incomparable, it's unobstructed sea views across Carpety Island to
• 37:51
  Speaker 1: the South Island, one and a half hectares with over
• 37:53
  Speaker 1: five hundred square meters of Hampton style charm and luxury.
• 37:57
  Speaker 1: I'm always amused by houses that have pool when they
• 38:00
  Speaker 1: live next to the beach. But the swimming pool is
• 38:04
  Speaker 1: absolutely magnificent and Nicole, you've had a look at it, Jill,
• 38:08
  Speaker 1: what do you make of it? Yeah?
• 38:09
  Speaker 3: No, I love it. And friends of ours actually have
• 38:11
  Speaker 3: just built and woke an ice. I'm very familiar with
• 38:13
  Speaker 3: that beautiful house. But maybe I could buy it.
• 38:16
  Speaker 1: Look, I tell you what you should buy it and
• 38:17
  Speaker 1: then just say, Timmy, you're looking for a weekend place
• 38:20
  Speaker 1: to go with the family.
• 38:21
  Speaker 3: Okay, and you can go and kick it out happily.
• 38:24
  Speaker 3: That swimming pool is stunning. Isn't it a beautiful house?
• 38:28
  Speaker 1: So you should go and check it out. Now I'm
• 38:30
  Speaker 1: looking down at the view. It's it does look like
• 38:33
  Speaker 1: it's got a mini golf course in front of it
• 38:34
  Speaker 1: in terms of grassed over dunes. But the beach, I mean,
• 38:39
  Speaker 1: it is a beautiful I don't know how you describe it,
• 38:43
  Speaker 1: but the way it flows from the inside of the outside.
• 38:46
  Speaker 1: In fact, the timber on the deck, it does seem
• 38:49
  Speaker 1: that the timber on the deck even flows straight into
• 38:51
  Speaker 1: the kitchen and the living room, so it's got that
• 38:54
  Speaker 1: absolute beach feel. I should tell you the price, but
• 38:57
  Speaker 1: don't let it put you off going to have a look.
• 39:01
  Speaker 1: It's estimate estimate is three point nine to five million, which,
• 39:07
  Speaker 1: ak that is a lot of money for most people,
• 39:10
  Speaker 1: But in terms of a beach property of that caliber,
• 39:14
  Speaker 1: I would think that it's actually possibly not bad buying.
• 39:17
  Speaker 3: Isn't it pretty reasonable? Actually?
• 39:19
  Speaker 1: Yeap so. And there's even a separate, semi self contained
• 39:23
  Speaker 1: two bedroom guess pavilion. Oh That's where I'm going to
• 39:26
  Speaker 1: stay when I visit. Anyway, go and check it out.
• 39:30
  Speaker 1: Go to the one roof a website and or you
• 39:33
  Speaker 1: can just google eighty seven rather than drive. Why can't
• 39:37
  Speaker 1: I beach carpety coast And there are truckloads and photos
• 39:41
  Speaker 1: and it's just like as I say every time, taking
• 39:44
  Speaker 1: a taking around holiday mind you. And the bathroom by
• 39:47
  Speaker 1: the way, oh my goodness, I don't think you'd ever
• 39:49
  Speaker 1: leave except maybe go for a swim in that wonderful
• 39:54
  Speaker 1: paul out the front, which does look absolutely colossal with
• 39:56
  Speaker 1: a barbecue area built in sort of sunk and next
• 40:00
  Speaker 1: to the pool. So anyway, all I could think of
• 40:03
  Speaker 1: was if somebody did splash, it might get a bit
• 40:05
  Speaker 1: of water on your sausages, but that would be about it. Anyway.
• 40:08
  Speaker 1: What are you doing for the rest of labour week
• 40:10
  Speaker 1: in Nicole?
• 40:11
  Speaker 3: Very good question. I'm going to go look for property.
• 40:13
  Speaker 1: Oh, there you go. And if people want to get
• 40:17
  Speaker 1: hold of your advice or they want to get property
• 40:20
  Speaker 1: Quadrants is the book you've got out.
• 40:21
  Speaker 3: Property Quadrants is the book. It's in bookstores, it's online,
• 40:24
  Speaker 3: and my website is the Property Lofestyle. People want to
• 40:27
  Speaker 3: talk property, they can always book a call with me
• 40:29
  Speaker 3: and we can talk property anytime.
• 40:31
  Speaker 1: That's Nicole or that's Nicole with an h the Property
• 40:34
  Speaker 1: Lifestyle dot code.
• 40:35
  Speaker 3: Or indeed it's not.
• 40:36
  Speaker 1: It's dot com, dot com.
• 40:38
  Speaker 4: Dot com.
• 40:38
  Speaker 1: I'm sure they'll find it anyway. That generally doesn't stop
• 40:40
  Speaker 1: people tracking people down anyway, Thanks so much, good to
• 40:43
  Speaker 1: see Nicole, and we'll be back shortly with the parents
• 40:46
  Speaker 1: squad and with davet. Consume he'll be joining us in
• 40:49
  Speaker 1: just a moment. News Talk Z b
• 41:00
  Speaker 4: A T to tipt