Latest / The SME Stream / Andrew Nicols: How old is too old to invest in property?

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Andrew Nicols: How old is too old to invest in property? · The SME Stream

0:05
Speaker 1: You're listening to the Weekend Collective podcast from news Talks,
0:09
Speaker 1: they'd be age of people.
0:11
Speaker 2: Is there a sort of common age, should I say?
0:13
Speaker 2: And as opposed to putting a spreadsheet together and going
0:16
Speaker 2: divide by such and such and here's the average age
0:18
Speaker 2: of fifty three point two.
0:20
Speaker 3: So that so in the early days of the company,
0:23
Speaker 3: most of our clients were kind of in that forty
0:25
Speaker 3: five to kind of forty to fifty bracket. And they're usually,
0:30
Speaker 3: you know, maybe they're paid off a chunk of their mortgage,
0:32
Speaker 3: they've got some equity, the kids are maybe you know,
0:34
Speaker 3: a bit more independent, they're gottle bit more time. Maybe
0:36
Speaker 3: they're both working, and then they start thinking about retirement,
0:39
Speaker 3: which even becomes a bit scary. Maybe they've got key
0:42
Speaker 3: we saver and and you know, they might have been
0:45
Speaker 3: diligently contributing to that. They might have a couple of
0:47
Speaker 3: hundred thousand collectively there, and they think, actually, that's not
0:50
Speaker 3: going to give us the lifestyle work that we want.
0:53
Speaker 3: So that's been that that's kind of the traditional client
0:55
Speaker 3: maybe for the first five years of the business.
0:57
Speaker 4: Because we do a podcast and we do a lot of.
1:01
Speaker 3: Social media, we do have a younger demographic now as well,
1:05
Speaker 3: so we've captured a lot of the young people. It's
1:07
Speaker 3: quite interesting I work with, Like just last week, I
1:10
Speaker 3: met with someone who's sixteen.
1:12
Speaker 1: Now.
1:12
Speaker 4: They're not going to be in a position.
1:13
Speaker 3: To buy right now, but they're already one yex or
1:16
Speaker 3: sex one sex, one sex, and they're thinking about, well,
1:20
Speaker 3: what do I need to do so that I can
1:22
Speaker 3: invest when I turn eighteen? Mom and Dad are going
1:24
Speaker 3: to help out a little bit in terms of providing
1:28
Speaker 3: some income for doing jobs. So we do get people
1:32
Speaker 3: really really young, and then it as well, you know,
1:34
Speaker 3: I'll work with investors who might be sixty as well.
1:37
Speaker 3: But certainly the older you get, the more careful you
1:41
Speaker 3: have to be around the risks of investing in property
1:43
Speaker 3: or the risks with anything, because if you don't have
1:47
Speaker 3: as much time on your side, you can't have you
1:51
Speaker 3: can't let the market heel itself over a longer period
1:55
Speaker 3: of time.
1:56
Speaker 2: Yeah, because actually you made an interesting comment there you
1:58
Speaker 2: said property is you found that investing in property was
2:01
Speaker 2: easier than investing in business, And I wonder if that's
2:07
Speaker 2: also a timing thing, because I'm not an investment in property.
2:11
Speaker 2: I've got my own house, but that's a long discussion
2:15
Speaker 2: I wouldn't have on air again. But I've hosted the
2:19
Speaker 2: property show for the One Reef Radio show for a
2:21
Speaker 2: little while, and there was a time when it just
2:25
Speaker 2: felt like a no brainer. So because we were seeing
2:28
Speaker 2: and we had I won't quote who the experts were,
2:31
Speaker 2: but people say, look, you know, the property market doubles
2:33
Speaker 2: every eight to ten years or something. And I had
2:37
Speaker 2: a prediction a year or two ago that you know,
2:39
Speaker 2: last year the property market would be up ten percent.
2:41
Speaker 2: And I wonder when you say the property market it's
2:44
Speaker 2: easier than business. That's sort of contingent on how vibe
2:49
Speaker 2: the property market is, because yeah, I think what I've
2:52
Speaker 2: seen as people who didn't have to be rocket scientists.
2:54
Speaker 2: They just had to make a commitment at a certain
2:57
Speaker 2: time when they you almost couldn't lose. Whereas now, my
3:02
Speaker 2: casual observation is not somebody's close to it as you are,
3:06
Speaker 2: is that people don't feel that these now. It doesn't
3:10
Speaker 2: feel like the no brain or investment. So maybe it's
3:13
Speaker 2: not as easy as when you said, wow, this is
3:16
Speaker 2: way easier than being in business.
3:18
Speaker 3: Yeah, certainly, twenty years ago, when I fought my first
3:21
Speaker 3: of a property.
3:21
Speaker 4: It was pretty straightforward.
3:23
Speaker 3: But it was probably straightforward in part because I didn't
3:26
Speaker 3: know what I didn't know at that stage, and so
3:28
Speaker 3: I just went and found a full bedroom house and thought, oh, yeah,
3:30
Speaker 3: the numbers make sense. A five bedroom house. That makes sense,
3:33
Speaker 3: I'll buy that property. Nowadays, I have a lot more
3:36
Speaker 3: scrutiny around the data before I buy a property, So
3:40
Speaker 3: it's probably harder for me now because I actually apply
3:42
Speaker 3: a whole lot more consideration.
3:44
Speaker 2: You'd need to though as well, because actually that's an
3:47
Speaker 2: interesting point, isn't it. I think with anything, I look
3:49
Speaker 2: at things I've done with risks and concerts and stuff,
3:51
Speaker 2: and I'm glad I didn't know how hard something was
3:54
Speaker 2: going to be and never would have got out of
3:56
Speaker 2: bed where absolutely, but you would. Twenty years ago the
4:02
Speaker 2: guy who didn't know what he didn't know was probably
4:04
Speaker 2: still going to be okay. Today, the guy who doesn't
4:07
Speaker 2: know what he isn't no, could be in a world
4:10
Speaker 2: a world of pain, couldn't they.
4:11
Speaker 4: Yeah, that's right.
4:12
Speaker 3: And I mean if I think back, you know, I
4:14
Speaker 3: was nineteen by my first property.
4:15
Speaker 4: I could afford the mortgage if.
4:17
Speaker 3: I had no tenant, whereas nowadays, if all my properties
4:21
Speaker 3: were vacant, that would be a real strain, particularly coming
4:23
Speaker 3: off high interest rates, and so I kind of think, well,
4:26
Speaker 3: I didn't really have as much to lose, and you know,
4:28
Speaker 3: not that you plan for the worst case. The bank
4:31
Speaker 3: sales up, you go bankrupt, and they have to start again.
4:33
Speaker 3: If that happened when I'm twenty five or thirty, it's
4:36
Speaker 3: not the end of the world. If it happens when
4:38
Speaker 3: you're fifty or sixty, it's a lot harder to recover
4:41
Speaker 3: from that. And I do think like nowadays, property is
4:45
Speaker 3: such a political football that gets kicked around, and as
4:48
Speaker 3: a result, we get a lot of policy changes, and
4:51
Speaker 3: certainly with the interests in douctibility rules that came in
4:54
Speaker 3: by Labor a few years ago, that was catastrophic for
4:59
Speaker 3: most investors. That really affected their cash flow in such
5:02
Speaker 3: a meaningful way, that something completely.
5:06
Speaker 4: Out of their control.
5:07
Speaker 3: Even if they've done all the planning, they'd run their numbers,
5:10
Speaker 3: they knew they could company afforded it for the property,
5:13
Speaker 3: all of a sudden that they have a tax liability.
5:16
Speaker 3: That was as if they didn't have a mortgage, even
5:19
Speaker 3: though they had a mortgage. Now imagine imagine making a
5:21
Speaker 3: profit on a property where you didn't make it, didn't
5:23
Speaker 3: have a mortgage, Well that'd be great. However, if you
5:25
Speaker 3: still have to pay your mortgage, that becomes a real problem.
5:28
Speaker 3: And four larger investors, people with multiple properties, you might
5:31
Speaker 3: have some making a loss on making a profit.
5:33
Speaker 4: You had some offsets, and those because.
5:35
Speaker 2: Like ac sens you do in business. You know, I
5:37
Speaker 2: have a correctness, I have a bakery and I have
5:39
Speaker 2: a I don't know, maybe I've got a couple of bakeries.
5:42
Speaker 2: One makes a fortune, one makes a loss. What's my
5:44
Speaker 2: tax bill? Not very much because income net zero, whereas
5:50
Speaker 2: you're in trouble.
5:51
Speaker 3: Yeah, and if you think about you know, your investor
5:54
Speaker 3: that maybe just has one investment property or maybe two,
5:57
Speaker 3: they're probably making a loss. But if then they have
6:00
Speaker 3: a tax liability, yeah, they're selling out actual.
6:03
Speaker 4: Cash and then paying text.
6:04
Speaker 3: And to be honest, most people don't really understand didn't
6:07
Speaker 3: really understand it, and so you know, they don't see
6:09
Speaker 3: their accounts. I met with one couple in Auckland, really
6:12
Speaker 3: nice couple, very intelligent people, and we did the numbers
6:16
Speaker 3: and I said, at the end of this year, you're
6:18
Speaker 3: going to have a tax bell and you're making a
6:20
Speaker 3: cash flow loss. Your thirteen properties are going to cost
6:24
Speaker 3: you your entire income.
6:26
Speaker 4: That's a real problem.
6:27
Speaker 3: And they kind of they knew that there was a
6:30
Speaker 3: problem happening because they're revolving credit keept deroding, but they
6:33
Speaker 3: didn't really know how big the problem was or what
6:36
Speaker 3: the hell to do about it.
6:37
Speaker 4: And so my advice to them was.
6:38
Speaker 3: We need to get rid of some properties immediately because
6:40
Speaker 3: if you don't, the bank's going to start selling yut.
6:44
Speaker 2: Hence, I mean possibly the reason that the market's been
6:47
Speaker 2: a bit slacker because there have been a bunch of
6:49
Speaker 2: people having to make those decisions.
6:52
Speaker 4: Yeah.
6:52
Speaker 3: Absolutely, And when you think about, you know, we've got
6:54
Speaker 3: an election this year at the end of the year.
6:57
Speaker 4: People buy less properties before an election.
7:01
Speaker 3: Now, even if the outcome is certain, even if we're
7:05
Speaker 3: sure that we know who we're going to get a power,
7:09
Speaker 3: and even if we know the policies, the fact that
7:12
Speaker 3: there's some uncertainty out there.
7:14
Speaker 4: People just sit back and wait.
7:16
Speaker 3: The number of like even this week, someone said I'll
7:19
Speaker 3: wait till after the election. Now, the reality is, in
7:22
Speaker 3: terms of growth, you pretty much get the same like
7:25
Speaker 3: after an election. You don't all of a sudden have
7:27
Speaker 3: a spike and growth, you do have an increased number
7:30
Speaker 3: of sales. So actually, if you're an investor or even
7:33
Speaker 3: a first time buyer, and you're wanting to get a
7:36
Speaker 3: deal this year, you do it before the election because
7:39
Speaker 3: there will be fewer people out there buying.
7:42
Speaker 2: What does it mean with sellers in terms of what
7:44
Speaker 2: activity happens before and after election? I know we are
7:47
Speaker 2: tying this. I mean, this is a bit of a
7:48
Speaker 2: general chatterman in general, but it inevitably does talk. You know,
7:53
Speaker 2: when we have these discussions, it's just like what's happening
7:55
Speaker 2: this year? But okay, what's while we're there? By the way,
7:59
Speaker 2: you can jump in on this conversation. We'd love to
8:01
Speaker 2: hear from you if you've got any questions for Andrew Nicol.
8:04
Speaker 2: He's managing director of property investment company OPS Partners, and
8:07
Speaker 2: we actually we're going to get onto it. Don't worry
8:09
Speaker 2: about how old it is getting a bit late, but
8:11
Speaker 2: how do you manage an investment if you're not twenty
8:15
Speaker 2: years old? Maybe you're fifty five, sixty, even older than that.
8:19
Speaker 2: But anyway, sorry, Andrew, what do you reckon? What happens
8:23
Speaker 2: with sellers? Do they.
8:26
Speaker 3: If I were a seller. If I were a seller
8:29
Speaker 3: and I could afford to wait. So I had a
8:31
Speaker 3: rental property, it had a tenant at the moment, and
8:33
Speaker 3: I could afford to wait, I probably wait till after
8:36
Speaker 3: the election.
8:38
Speaker 4: Maybe I'd even roll into early.
8:39
Speaker 3: Next year, maybe kind of the end of this year
8:41
Speaker 3: or early next year, if you can afford to However,
8:44
Speaker 3: the exception, the exception to that is if you've got
8:47
Speaker 3: another need for that money. So I spoke to an
8:50
Speaker 3: investor just last week. He's got a property in Nelson.
8:54
Speaker 3: It's average, and he knows it's underperforming. Now if he
8:57
Speaker 3: sells it now, yes, he's probably not getting the premium price,
9:00
Speaker 3: But then he's going to go and redivert that capital
9:03
Speaker 3: and put it into ORC and probably get a better
9:07
Speaker 3: asset there. Now as a result, he's buying and selling
9:10
Speaker 3: in the same market. There's nothing wrong with that. Similarly,
9:12
Speaker 3: if you have to sell because you have to alleviate
9:17
Speaker 3: some cash flow issues, maybe you don't have to squeeze
9:20
Speaker 3: every last dollar out of the deal. The immediate need
9:23
Speaker 3: of better cash flow or that Trump's having to wait
9:26
Speaker 3: for another twelve months.
9:28
Speaker 2: So how does how has you You know you've been
9:30
Speaker 2: involved in the game for a little while. How has
9:33
Speaker 2: your have the strategies or the advice you give to
9:36
Speaker 2: people changed, given the market has has changed from what
9:40
Speaker 2: it might have been ten years ago.
9:43
Speaker 3: Yes, so I think from my own journey. When I
9:46
Speaker 3: started out being young and having you know, a normal
9:50
Speaker 3: paid job of forty hours a week and you know,
9:53
Speaker 3: say a little bit of over time, I had quite
9:54
Speaker 3: a lot spit time, no kids, no commitments. So I
9:57
Speaker 3: had a very active strategy. So I buy a property,
10:00
Speaker 3: I'd renovate it terribly. I've got no taste, by the way,
10:03
Speaker 3: and at some I paint things, and I tidy up
10:07
Speaker 3: the gardens and all those kind of things, and then
10:09
Speaker 3: I try and lift the value, and I'd repeat that process. Now,
10:13
Speaker 3: I can't think of anything worse, and I don't have
10:14
Speaker 3: the time for it. The stress of the time of
10:16
Speaker 3: that just doesn't work for me. So my personal strategy
10:20
Speaker 3: has moved to a much more passive strategy, where I
10:23
Speaker 3: buy a property and I hold it, and I'm holding
10:25
Speaker 3: it for the.
10:25
Speaker 4: Next ten twenty thirty years.
10:27
Speaker 3: Now, that is that is typically the type of client
10:30
Speaker 3: that I work with. So therefore that's the kind of
10:34
Speaker 3: messaging that we put out when we're working with people. However,
10:37
Speaker 3: there's lots of ways to make money out of property,
10:40
Speaker 3: and we don't expect to service every single person in
10:44
Speaker 3: New Zealand.
10:44
Speaker 4: We just we just think that our way is.
10:46
Speaker 3: The is the straightforward, and probably you know, it removes
10:52
Speaker 3: some of the risk when you're buying a property that's
10:54
Speaker 3: maybe newer, where you don't have a maintenance bell. Maybe
10:57
Speaker 3: it's if you're using data you would expect Okay, well
11:00
Speaker 3: you can't. You can't assume from the data that something
11:03
Speaker 3: is guaranteed, because it's not.
11:04
Speaker 4: But if you're using some data, you.
11:06
Speaker 3: Can get a pretty good idea if you're going to
11:08
Speaker 3: see some growth over the next three, four five years.
11:11
Speaker 2: So what I'm hearing sort of is that it's you know,
11:15
Speaker 2: if you've got twenty or thirty years up your sleeve,
11:17
Speaker 2: then you know, let's have a chat. But when when
11:20
Speaker 2: is too old? Too old?
11:22
Speaker 4: Well thought, that's a really interesting question.
11:24
Speaker 3: And actually I did I do a weekly newsletter, and
11:28
Speaker 3: a couple of years ago I did one on timing
11:31
Speaker 3: the market versus time in the market. So if you
11:34
Speaker 3: were very very fortunate and you happen to buy at
11:39
Speaker 3: the exact right time, the growth that New Zealand got
11:42
Speaker 3: and one year, which is covered was thirty percent, thirty
11:45
Speaker 3: percent almost thirty one percent, right. However, the worst ever
11:49
Speaker 3: is negative fourteen. So you could have two people that
11:52
Speaker 3: invest in the market. One one thinks he's great, the
11:56
Speaker 3: others thinking, what the hell was I thinking investing in property?
11:59
Speaker 4: Right now?
12:00
Speaker 3: If you go to two years, the best ever two
12:04
Speaker 3: year growth in New Zealand is twenty one percent. Okay,
12:07
Speaker 3: so it's less because average is out of it. The
12:10
Speaker 3: worst ever two years is negative seven.
12:12
Speaker 4: Okay.
12:13
Speaker 3: Now, as time goes on, the numbers get closer and
12:16
Speaker 3: closer together, and so if you've got I've always said, okay,
12:20
Speaker 3: you kind of want no less than five, ideally seven,
12:24
Speaker 3: but like perfect would be ten or more, so just
12:27
Speaker 3: to give those numbers. So in five years, your worst
12:29
Speaker 3: ever is negative point four. So it's not the end
12:32
Speaker 3: of the world, but if you're really unlucky, that's what
12:34
Speaker 3: it has been. Historically, the best of a five year
12:36
Speaker 3: period for growth is fourteen point seven per year, so
12:40
Speaker 3: I mean that's pretty good.
12:41
Speaker 4: I'd be pretty happy with that.
12:42
Speaker 3: However, if you go to seven years, it's eleven point
12:45
Speaker 3: eight positive. If it's the best ever and it's one
12:48
Speaker 3: point eight for the worst ever seven year.
12:51
Speaker 4: Stretch, which is pretty average.
12:53
Speaker 3: You wouldn't be that happy with it, but again, you
12:55
Speaker 3: haven't lost money at that stage the way.
12:58
Speaker 2: Unless, of course, you are subsidizing al that's the thing.
13:03
Speaker 2: You spend a million bucks. I use million dollars and
13:05
Speaker 2: example not because you know, it's just a nice round number.
13:09
Speaker 2: If you're a million bucks and you got a five,
13:12
Speaker 2: so you could be spending fifty or sixty thousand dollars
13:14
Speaker 2: a year just in interest payments, right, that's right, right,
13:19
Speaker 2: And so your gain needs. What I'm getting at is,
13:24
Speaker 2: if you're like sixty years old, you're really timing. It's
13:28
Speaker 2: like a secret of good comedy. It's a really a
13:30
Speaker 2: bit of a gamble on your timing, isn't it.
13:32
Speaker 4: Yeah.
13:33
Speaker 3: Well, I mean the way you would look at it,
13:34
Speaker 3: if you were sixty and you were investing, probably you
13:37
Speaker 3: have to do it with quite a lot of caution.
13:39
Speaker 3: What you'd probably want to do is make sure that
13:41
Speaker 3: that property was either cash flow positive now or close
13:44
Speaker 3: to or it was going to be stridiningly by the
13:46
Speaker 3: time you're retired. Now, some people are working well into
13:48
Speaker 3: their seventies, but let's say they're going to do the
13:52
Speaker 3: traditional thing where they're going to stop working at sixty five.
13:54
Speaker 3: I would not want that property to be costing me
13:58
Speaker 3: when I'm retired, unless I had some lumber tourse here. No,
14:02
Speaker 3: you wouldn't because that just is just going to be
14:04
Speaker 3: a that is a real problem for someone and then
14:07
Speaker 3: you're forced to sell and maybe an opportunity part of
14:11
Speaker 3: the market. So ideally, I'd say, if you're fifty five
14:14
Speaker 3: and thinking about that.
14:15
Speaker 4: Right, you've got heaps of time.
14:16
Speaker 3: If you're sixty, you really have to be getting some
14:19
Speaker 3: good advice around what this might look like in the future,
14:23
Speaker 3: because you don't necessarily have to sell the property when
14:26
Speaker 3: you retire, but it does have to be paying for
14:28
Speaker 3: itself otherwise it's going to affect other parts of your life.
14:31
Speaker 2: But we love your cause on this. Have you got
14:33
Speaker 2: any questions? I think the question is also around what
14:36
Speaker 2: whether your strategy just has to change as time march
14:39
Speaker 2: is on. But have you invested in property later in
14:43
Speaker 2: life and if so, how did that work for it?
14:46
Speaker 2: Did you have to take a different approach than you
14:47
Speaker 2: would have taken a few were, you know, twenty thirty
14:50
Speaker 2: forty years old, I eight one hundred and eighty ten
14:52
Speaker 2: eighty if you've got any other questions for Andrew Nickel
14:54
Speaker 2: as well, and we're going to have a look just
14:57
Speaker 2: for what the twenty twenty six market might hold for
15:00
Speaker 2: investors as well. I w eight hundred eighty ten eighties
15:03
Speaker 2: the number text nine to nine too. We'll be back
15:06
Speaker 2: in just a moment. It's twenty five past four news Talk.
15:13
Speaker 2: But yes, the one roof radio show. My guest is
15:16
Speaker 2: Andrew nicol He's managing director of property investment company Opees
15:19
Speaker 2: Partners and taking a course. Actually, I think the question
15:23
Speaker 2: is how old it's too late for property or how
15:26
Speaker 2: or is property investment now a young person's game, And
15:29
Speaker 2: let's take your calls on that as well.
15:32
Speaker 5: Ray, Hello, ah, Hi, We accidentally bought a property after
15:38
Speaker 5: sixty My children wanted to hire property and it had
15:43
Speaker 5: very good figures and all that sort of thing. We
15:46
Speaker 5: went along to the auction, you know, to help them out.
15:49
Speaker 5: They would never have got the finance in their own name,
15:52
Speaker 5: and two weeks afterward Grant Robinson decided to make the
15:57
Speaker 5: interest not deductible. So yeah, so we managed to get
16:04
Speaker 5: through with enough in the bank because it was making
16:08
Speaker 5: a really good profit. It was making thirty five thousand
16:11
Speaker 5: dollars a year after cost, So we ended up doing
16:17
Speaker 5: into that to pay the interests not deductibility, but we've
16:21
Speaker 5: had to add a bit in the last year. But
16:25
Speaker 5: luckily we have other properties that make a profit we
16:28
Speaker 5: can offset it against. But going forward, if he decides
16:34
Speaker 5: and he gets in chippy and people listen to him,
16:38
Speaker 5: and he decides to make the interest not deductible again,
16:41
Speaker 5: then I'll be selling another property and making that more
16:44
Speaker 5: property mortgage.
16:45
Speaker 4: Three.
16:47
Speaker 3: Yeah, that was a really tough time, particularly for people
16:50
Speaker 3: like yourself who had done the numbers, made a big
16:54
Speaker 3: financial commitment, and let's face it, like you know, yes,
16:57
Speaker 3: lendlods get a hard time because you know, they are
17:00
Speaker 3: buying properties that people consider might be for first time
17:03
Speaker 3: buyers and the great users to certainly few to and
17:05
Speaker 3: buyers out there.
17:05
Speaker 4: At the moment. They are really buying.
17:07
Speaker 3: Up large, which is awesome to see, but we are
17:10
Speaker 3: taking major resk on and normally you are topping up
17:14
Speaker 3: a property, you're subsidizing the.
17:15
Speaker 4: Tenants rent, and that's just the cost of doing business.
17:18
Speaker 3: But then when you have this increased tax liability, that's
17:20
Speaker 3: when it really becomes unfair. In my mind, and obviously
17:23
Speaker 3: you took one extra step and you did something to
17:26
Speaker 3: help about your kids, because it is hard for kids
17:28
Speaker 3: to get.
17:29
Speaker 4: On that property ladder.
17:31
Speaker 3: One big challenge over some of the rules that we've had,
17:34
Speaker 3: like the bright line come in and the deductibility, it's
17:39
Speaker 3: got so much more complicated from an accounting standpoint that
17:42
Speaker 3: people parents that are trying to help out their kids.
17:45
Speaker 3: I've heard lots of stories like this where people end
17:47
Speaker 3: up getting caught out doing the right thing, which which
17:50
Speaker 3: frankly sucks in my mind, but you know, that's what
17:54
Speaker 3: we worked out. I don't think interest deductibility will be
17:58
Speaker 3: brought in again.
17:59
Speaker 4: Now. My disclaimer is.
18:01
Speaker 3: My disclaimer to that is I thought that last time
18:04
Speaker 3: as well. Reason I say that it's because it was
18:07
Speaker 3: it was a cluster and part of it was, you know,
18:10
Speaker 3: remember when when they had the consultation, Treasury and the
18:15
Speaker 3: ir D.
18:16
Speaker 4: Both said don't do this, and the government went ahead
18:19
Speaker 4: and did it.
18:19
Speaker 3: And I kind of think I kind of hope that
18:22
Speaker 3: they learn what I do think we'll see potentially in
18:26
Speaker 3: my investing lifestyle. Probably Sorry, lifetime is a capital gains
18:29
Speaker 3: tax and I'm not really I'm not against it.
18:33
Speaker 4: I don't.
18:34
Speaker 3: I don't like the amount that we're talking, but I'm
18:36
Speaker 3: never going to like it that much because I'm going
18:38
Speaker 3: to have to pay it. But I'm all for having
18:41
Speaker 3: an appropriate tax system in New Zealand as long as
18:43
Speaker 3: that money is being spent well. Now, not to get
18:45
Speaker 3: to political, I don't think that the way they're going
18:48
Speaker 3: to allocate this vertical doctor's visits. But if you say
18:52
Speaker 3: the disclaimer, you can just say anything afterwards. I don't
18:54
Speaker 3: think that that's the the I don't think that's going
18:56
Speaker 3: to fix the problem of the healthcare sism that's already
18:59
Speaker 3: under so much fresher.
19:00
Speaker 4: But maybe I'm wrong. I don't know enough.
19:02
Speaker 3: I guess I don't know enough about that, but I
19:04
Speaker 3: think they capital gains tax will occur at some stage,
19:08
Speaker 3: and we've kind of got a quasi one with the
19:09
Speaker 3: bright line, but it's only two years now. If I
19:12
Speaker 3: had to pay tax on my profits, that's okay. One
19:15
Speaker 3: investors said to me they didn't want to buy a
19:17
Speaker 3: property because they didn't want to pay any more tax.
19:19
Speaker 3: So I asked them, if they're going to quit their
19:21
Speaker 3: job then, because obviously, if you're not going to go
19:23
Speaker 3: to work for you're going to pay a texting.
19:24
Speaker 2: Are you.
19:26
Speaker 5: Actually a funny story? The day after it happened, we
19:30
Speaker 5: had already purchased the property. I was standing in the
19:32
Speaker 5: Turu Club beside Grant Robertson, and I turned around and
19:36
Speaker 5: I said to him, thank you for getting rid of
19:40
Speaker 5: every cent my children of state at.
19:43
Speaker 2: The public ray i'd be came to get a response.
19:46
Speaker 2: I got a text here and I think it was
19:47
Speaker 2: during the course of when you were talking about we
19:49
Speaker 2: were going to have to sell a property to pay
19:51
Speaker 2: for such and such, and it just says boohoo, which
19:57
Speaker 2: represents I think what they mean is you mentioned you
20:00
Speaker 2: don't mind a capital gains tax, but there are a
20:01
Speaker 2: lot of There are people out there who see people
20:03
Speaker 2: who you know, haven't played gains, have used the rules
20:07
Speaker 2: as they were, made a lot of money. And what
20:10
Speaker 2: do you say to a response like that?
20:13
Speaker 5: I've said it was a response like that. We spent
20:15
Speaker 5: thirty years paying that off really difficultly, subsidizing the mortgage
20:21
Speaker 5: and everything like that, and it was meant to be
20:23
Speaker 5: for our retirement income, and it's now not. We were
20:26
Speaker 5: self employed here, we say, or wasn't in when we started,
20:30
Speaker 5: and at that time we actually had Helen Clark's government
20:34
Speaker 5: bringing us up at night suggesting that we buy housing
20:37
Speaker 5: New Zealand properties because we could negatives.
20:39
Speaker 2: Actually that's right. You know what you have reminded us.
20:43
Speaker 2: It wasn't just John Key who said you need to
20:45
Speaker 2: get in and buy property and invest for your retirement.
20:48
Speaker 2: It was it was a successive governments who did. And
20:51
Speaker 2: that message has now changed.
20:53
Speaker 5: I used to get fun calls at six o'clock at
20:55
Speaker 5: night while I was making dinner, Come and buy housing
20:58
Speaker 5: New Zealand property. You can negatively gear it. And that
21:01
Speaker 5: was under the Labor Party, just as I.
21:03
Speaker 2: Heard that Australian twang and your accident there just ray
21:07
Speaker 2: and how if you if you were advice, what age
21:12
Speaker 2: would you go?
21:13
Speaker 4: Na?
21:13
Speaker 2: Na, No, it's too late for me. Having given given
21:18
Speaker 2: what you've said, Let's pretend let's pretend that you haven't
21:22
Speaker 2: got anyone else to help you out. It's you on
21:24
Speaker 2: your own. When would you have a crackit property investment?
21:26
Speaker 2: When would you call it quits?
21:28
Speaker 5: I would have called it quits. It's probably fifty five.
21:32
Speaker 2: Yeah, there we have a number ext thanks.
21:35
Speaker 5: Too hard on older people and then they're going, oh,
21:38
Speaker 5: watch the plan to get out of it and all
21:40
Speaker 5: that sort of thing. I think fifty five would be
21:43
Speaker 5: it because you can't guarantee your health after sixty, got it?
21:50
Speaker 2: Yeah, okay, lot's got it. Lots of questions around this,
21:52
Speaker 2: isn't it? Okay? Hey, Ray, thanks for your call. Good
21:54
Speaker 2: on you.
21:54
Speaker 5: That's a good day.
21:55
Speaker 2: I really appreciate it. That's an interesting one, isn't it?
22:00
Speaker 2: Fifty five? I think we're going to start with the
22:02
Speaker 2: number of fifty five. If I was coming to you,
22:07
Speaker 2: if somebody was coming to you, say, at the age
22:09
Speaker 2: of sixty, what would you be the strategy is. I
22:12
Speaker 2: think what we're arriving at is that Andrew, is that
22:15
Speaker 2: the strategy is different. You'd have to be looking to
22:18
Speaker 2: add value to increase the profitability in a shorter space
22:22
Speaker 2: of time.
22:23
Speaker 4: Or have cash.
22:24
Speaker 3: So there are plenty of people in their sixties that
22:27
Speaker 3: have got a chunk of cash that they've saved, maybe
22:29
Speaker 3: a couple of one hundred thousand, that they can put
22:31
Speaker 3: it in as a deposit. That probably means if they're
22:33
Speaker 3: borrowing eighty percent, that the rents covering the cost or
22:37
Speaker 3: the most of the cost, and within the five years
22:40
Speaker 3: before retirement, the property which should be cash neutral or positive,
22:44
Speaker 3: so at that stage they could look at that.
22:46
Speaker 4: But if someone was.
22:47
Speaker 3: Borrowing one hundred percent most investors do, using their house
22:50
Speaker 3: to fund the deposit, then I think fifty five is
22:53
Speaker 3: a very sensible number.
22:55
Speaker 2: Okay, we'd love your cause on this eight hundred and
22:57
Speaker 2: eighty ten eighty. Let's have a look at a couple
22:59
Speaker 2: of texts before we head to the break seas. In
23:01
Speaker 2: two thousand and one, Andrew this person, I said, Brian
23:04
Speaker 2: SAYSS one hundred and sixty five K Should I give
23:07
Speaker 2: it a freshen up? Should I give it a freshen
23:10
Speaker 2: up to bring it up nice before I sell it?
23:12
Speaker 2: South Auckland as as wearers not worth chasing another thirty thousand?
23:16
Speaker 2: What would you do.
23:19
Speaker 4: Without running the numbers?
23:20
Speaker 3: I would say, given that as wearers and the bulk
23:24
Speaker 3: of the value is probably in the land for this person,
23:27
Speaker 3: I probably wouldn't get too caught up and doing a
23:29
Speaker 3: lick of paint, because you might A'i're going to sell
23:32
Speaker 3: it to maybe a developer the mumps some units on there,
23:34
Speaker 3: or maybe someone's starting out. And if you can sell
23:36
Speaker 3: it to someone starting out, they can add their own
23:39
Speaker 3: value to it and at least face it. Your taste
23:43
Speaker 3: in decorating might be different to a first time buyers
23:46
Speaker 3: who might want to put their own spin on it.
23:49
Speaker 4: So I probably wouldn't in that case.
23:51
Speaker 2: But I might replace If I had a rotten weather board,
23:53
Speaker 2: I might replace that.
23:55
Speaker 4: Yeah.
23:55
Speaker 3: Yeah, you don't want things, particularly if it's going to
23:58
Speaker 3: be sold to someone that's going to live in it.
24:00
Speaker 3: You don't want to building report to scare the Bejesus
24:02
Speaker 3: out of people because they are terrifying. You know, you
24:04
Speaker 3: get a building, a reporter on a brand you've prompted in,
24:07
Speaker 3: there's still defects, and so you want to make sure
24:09
Speaker 3: that any of the major stuff has dealt with.
24:12
Speaker 2: Okay, right, we're going to take a break. Eight hundred
24:14
Speaker 2: and eighty ten eighty. How old's too old to get
24:17
Speaker 2: into property as an investor? Well, actually you could say
24:20
Speaker 2: it's a buyer as well, but just if you wanted
24:22
Speaker 2: to live in it. But taking your course one hundred
24:24
Speaker 2: and eighty ten eighty, it's twenty three minutes to five. Yes,
24:29
Speaker 2: and we were with Andrew Nickel, the managing director of
24:31
Speaker 2: property investment company O Pairs Partners. That's ope S talking
24:35
Speaker 2: about how old's too old to get into Property Bill.
24:38
Speaker 6: Hello, Tim good a good show, Andrew. I wonder why
24:45
Speaker 6: what you think? Well, who you think are the first
24:50
Speaker 6: home buyers that are all getting them supermarket at the moment?
24:53
Speaker 2: I mean demograph, demo, demographic.
24:56
Speaker 6: We're speaking, Yeah, can I just say that. Look, I'll
25:00
Speaker 6: just comment. I hear real estate people talking all the
25:05
Speaker 6: time that the market is great and the buoyant and
25:09
Speaker 6: thirst team bar they are. Well, I'm in Willington and
25:13
Speaker 6: our first home buyers are actually getting into it and
25:17
Speaker 6: so on. And I've been a long follower of since
25:21
Speaker 6: the sixties of the market and real estate, etc. And
25:27
Speaker 6: in fact I lent money out on commercial and private
25:32
Speaker 6: in the seventies and eighties. Then parents people couldn't go
25:39
Speaker 6: to their parents because parents would say that, hey, look
25:44
Speaker 6: we got through the depression and everything and they're going
25:46
Speaker 6: to have to work for themselves and so on. Or secondly,
25:50
Speaker 6: and more important, many men told me that they are
25:55
Speaker 6: not going to lend money because marriages break up and
25:59
Speaker 6: they don't want a son or daughter in law. They
26:03
Speaker 6: don't really know getting half the money or whatever is.
26:08
Speaker 6: Now what do you I understand that people today are
26:14
Speaker 6: actually saying, well, look, we'll put money into it, et cetera.
26:19
Speaker 6: But well, you want to get it legally done. So
26:22
Speaker 6: when the house price doubles, et cetera, will you want
26:25
Speaker 6: to get our share back? Plush?
26:28
Speaker 2: We talk about the parents, say that that's up to
26:29
Speaker 2: the parents.
26:30
Speaker 6: The parents. Now, I presume that you will say that
26:37
Speaker 6: your parents or others are actually contributing largely to the deposits.
26:42
Speaker 2: I don't know what's your question there? What's your question there?
26:45
Speaker 5: Bill? Well?
26:46
Speaker 6: The question was what to use the reason why the
26:49
Speaker 6: rush of people into first home buyers?
26:54
Speaker 2: Okay, why why the burner? And and we should I should
26:57
Speaker 2: mention the Captality survey that says that there's a record
27:01
Speaker 2: first home buyer share of twenty eight point eight percent
27:03
Speaker 2: of December purchases, the highest quarterly level ever recorded first
27:07
Speaker 2: home buyers? Can I have a crack at answering that
27:10
Speaker 2: as the guy who doesn't know much. I think it's
27:12
Speaker 2: simply because the market's flattened out and people think let's
27:14
Speaker 2: get in now. The property market's not going and we've
27:16
Speaker 2: got a bit of time to think about it. It's
27:18
Speaker 2: come off, it's high, and people think it now is
27:21
Speaker 2: the time as good as any I don't know, what
27:23
Speaker 2: do you reckon Andrew, hang on a second, we just
27:27
Speaker 2: need to put you to air. I think let's start
27:30
Speaker 2: again where.
27:30
Speaker 3: You go you and I think the same, And then
27:33
Speaker 3: I've got ed the smartest business partner in mine that's
27:36
Speaker 3: way more intelligent, that goes away and gets started to
27:38
Speaker 3: disprove me.
27:39
Speaker 4: So we actually did a podcast where we looked.
27:41
Speaker 3: At how buyers and home buyers and investors team to both.
27:47
Speaker 4: Move in the same direction.
27:48
Speaker 3: Now at the moment, there are a record number of
27:50
Speaker 3: first time buyers, but you know, if you take a
27:53
Speaker 3: slightly wider view, as more investors into the market, more
27:58
Speaker 3: home buyers do as well, and when they drop, they
28:01
Speaker 3: both drop. I think a big part of it actually
28:03
Speaker 3: is that we we've got these key we saver funds
28:07
Speaker 3: now that people have you know, just accidentally fell into.
28:10
Speaker 3: They've been contributing, and they've got this compulsory savings that
28:12
Speaker 3: they can't use for anything other than retirement or buying
28:15
Speaker 3: a house. And so now you've got these people that
28:18
Speaker 3: ten years later have actually got.
28:20
Speaker 4: A reasonable deposit.
28:21
Speaker 3: Yes, there is help from parents by way of guarantees,
28:25
Speaker 3: but actually it's a lot harder nowadays to get a
28:27
Speaker 3: guarantee from your parents than it was previously because of
28:32
Speaker 3: the banking inquiry, of the Royal Banking Inquiry in Australia
28:36
Speaker 3: and how that flowed on to effecting our policies. It's
28:38
Speaker 3: got easier again with trible CFA and stuff like that.
28:42
Speaker 3: But the reality is, I think people have got deposits
28:44
Speaker 3: now when let's face it, when you're starting out, most
28:48
Speaker 3: of us aren't that great at saving. But if it's
28:50
Speaker 3: locked up on the counter, we can't touch it at
28:52
Speaker 3: that for a house, I think that makes a really
28:53
Speaker 3: sizeable deposit.
28:54
Speaker 2: So first time buy is effectively, in a way, a
28:56
Speaker 2: competing with investors, because if you're an investor, you're not
28:59
Speaker 2: exactly going I'm going to go buy a five million
29:01
Speaker 2: Well maybe you are property, but you are you are.
29:07
Speaker 2: They are in direct competition. So at the moment the
29:09
Speaker 2: first time buy is they're doing the numbers, whereas the
29:12
Speaker 2: investors going, well, what's the future for my investment, my mortgage,
29:18
Speaker 2: my tax deductibility and all those. They've got a few hesitations,
29:22
Speaker 2: haven't they.
29:23
Speaker 4: Absolutely?
29:24
Speaker 3: I think I think about investors have had a pretty
29:26
Speaker 3: tough run over the last few years. They've had high
29:28
Speaker 3: top ups with prices going down, like you know, one
29:31
Speaker 3: property that I bought, it's down in value and it's
29:33
Speaker 3: cost me a lot in cash flow. Now I'm taking
29:37
Speaker 3: a long term view of that. I'm not thinking that's
29:38
Speaker 3: the end of the world. But if that was your
29:41
Speaker 3: first property, you're probably a bit gun shy at the moment,
29:44
Speaker 3: which I completely get. But as interest rates come down
29:46
Speaker 3: and people come off the effects rays, it takes away
29:49
Speaker 3: while to get out of that mindset of we've got
29:52
Speaker 3: no money and we're comfortable going out there and committing
29:56
Speaker 3: a little bit more again.
29:57
Speaker 4: So yeah, I think there is a bit of that.
30:00
Speaker 2: Okay, here's one that I think there's a few angles
30:02
Speaker 2: we could take from this question. Here it says we
30:06
Speaker 2: owe This person says, this is Lianne. She says, we
30:09
Speaker 2: are hundred percent own our family home. We have one
30:13
Speaker 2: rental that the majority of outgoings are covered by the tenant.
30:16
Speaker 2: Are there still opportunities in the market to buy another
30:19
Speaker 2: rental or where the rent will cover the mortgage? Or
30:21
Speaker 2: are the interest rates and property prices too high at
30:23
Speaker 2: the moment. And I just want to add an extra
30:25
Speaker 2: qualification to that. If you're sixty, you may have one
30:29
Speaker 2: hundred percent equity in your house as opposed to a
30:32
Speaker 2: fifty five sixty year old who doesn't. So people who
30:36
Speaker 2: have a lot of equity, what's your response to lean
30:39
Speaker 2: but more generally Andrew.
30:40
Speaker 3: So leanne if you're borrowing one hundred percent, generally speaking,
30:44
Speaker 3: your rent would cover your mortgage interests. That's not principle,
30:49
Speaker 3: so that there have to be an interest in anymore,
30:51
Speaker 3: which par that's akay, you can sell the you can
30:52
Speaker 3: paser the mortgage when you sell that property. But some
30:55
Speaker 3: people don't like that, so they might affect their cash flow.
30:58
Speaker 3: But then that's compulsory saving. So your rent would and
31:02
Speaker 3: expect that to cover the mortgage, but probably not the
31:04
Speaker 3: other cost You're right, insurance, you maintenance, so you might
31:07
Speaker 3: be a couple of hundred dollars a week and outgoing
31:09
Speaker 3: for the other costs. If you buy a much higher
31:12
Speaker 3: yielding property like a room bow room rental or a
31:15
Speaker 3: juelky apartment, maybe then you get the rent to cover
31:19
Speaker 3: all the costs, but you do sacrifice in capital growth.
31:22
Speaker 3: So that's where it's really important to get a bit
31:23
Speaker 3: of advice. What do I actually want to get out
31:25
Speaker 3: of this property? Is it about cash flow now or
31:27
Speaker 3: is it about growth over the long term, and there's
31:30
Speaker 3: no there's no right or wrong answer as a whole.
31:32
Speaker 3: That's when you kind of work with a financial advisor to.
31:34
Speaker 4: Kind of map that out.
31:36
Speaker 3: But yep, there are still properties that will cover all
31:39
Speaker 3: of the bills generally speaking, though I see clients putting
31:42
Speaker 3: a little bit of money in, but I would also say,
31:45
Speaker 3: there is not any investment that I know of that
31:49
Speaker 3: you get a massive return without having to put some
31:51
Speaker 3: money in. And if you're borrowing one hundred percent, well
31:53
Speaker 3: two hundred dollars a week, it's probably okay, but you've
31:55
Speaker 3: got to ask yourself do I need to and is
31:58
Speaker 3: that what I want to do?
31:59
Speaker 2: I think the thing is if you do have a
32:01
Speaker 2: lot of existing equity, so you own your own home
32:05
Speaker 2: for psychologically, if I was in their position, I'd be thinking, well,
32:07
Speaker 2: let's just pretend I'm paying rent for a little bit.
32:10
Speaker 2: But then you've got to go to work out what
32:11
Speaker 2: the equation ultimately is.
32:12
Speaker 3: Though that's right, and also you know it's did money
32:16
Speaker 3: just in your house if you had all that money
32:17
Speaker 3: in your house not doing anything for you, Yes, you're
32:20
Speaker 3: getting capital growth in your house, but you can't get
32:22
Speaker 3: that out until you sell that property. You need somewhere
32:24
Speaker 3: to live, so I don't like the idea of having
32:28
Speaker 3: lazy money. However, I'm okay taking a few risks. You're
32:31
Speaker 3: almost going to ask yourself is the risk worth the return?
32:34
Speaker 3: And the closer you get to that retirement age, the
32:38
Speaker 3: more you've got to be a bit more conservative.
32:40
Speaker 4: Were not taking on too much risk?
32:42
Speaker 2: Excellent and right, We're going to take another moment. We'll
32:44
Speaker 2: be back in just to tick. It is eleven and
32:46
Speaker 2: a half minutes to five. Newstalk said.
32:55
Speaker 1: The one roof property of the week on the weekend collective.
33:00
Speaker 2: Yes, and the one roof properly of the week. Look,
33:02
Speaker 2: they're always quite fascinating. Go and check this one out.
33:04
Speaker 2: This is one twenty Corcoran Road to Pahu WAYPA. It
33:09
Speaker 2: is five bedrooms, two bathrooms, two car garage built. It's
33:13
Speaker 2: quite a relatively new property. It's got an estimate of
33:16
Speaker 2: one point six million. In fact, the it's close to
33:21
Speaker 2: its harv as well. But it's one of those it's
33:23
Speaker 2: always worth going to have a look at what people
33:25
Speaker 2: have done with their homes. It's it's the thing that
33:27
Speaker 2: stood out to me. It's what's described here. I'll read
33:30
Speaker 2: the description craft with care and rich in character. This
33:33
Speaker 2: exceptionally hand crafted Residents celebrates the timeless beauty of Macrocarpa,
33:38
Speaker 2: offering a truly unique lifestyle retreat. It's got five big bedrooms,
33:44
Speaker 2: beautifully appointed family bathroom, of course, beautiful bathroom. We want
33:48
Speaker 2: a new home doesn't have a lovely bathroom? Are you?
33:51
Speaker 2: But what do you look at? Actually, Andrew, while we're
33:54
Speaker 2: talking about the property of the what sort of thing
33:55
Speaker 2: do you go for when you're looking at the photos?
33:58
Speaker 4: Well, do you know?
33:59
Speaker 3: I said, when I saw that, properly, I thought, this
34:01
Speaker 3: is a lovely house. I've only ever bought one house
34:04
Speaker 3: to limit, which is the one.
34:04
Speaker 4: That that I'm in right now.
34:06
Speaker 3: That was five years ago, coming out of COVID. My
34:10
Speaker 3: partner said, you need to grow up and stop just
34:12
Speaker 3: buying rental properties and maybe move out of my bachelor head.
34:16
Speaker 3: And so so we bought this house. And I don't
34:18
Speaker 3: think I'm keen on moving again. So I'm not very good,
34:21
Speaker 3: funnily enough about choosing property for myself.
34:24
Speaker 4: She chose it.
34:26
Speaker 3: I did what I was told. When I buy a
34:28
Speaker 3: property for a rental, I look at the numbers, I
34:30
Speaker 3: look at where the property cycle is, and I take
34:34
Speaker 3: a biskiss based on the data, and I get it
34:37
Speaker 3: right more times than I get it wrong.
34:38
Speaker 2: Actually, you know what, looking at this, I think I
34:40
Speaker 2: didn't describe it very well. But one point six million, okay, yes,
34:46
Speaker 2: that is a lot of money. But if you're an
34:48
Speaker 2: Auckland seller, and I mean one point six million, if
34:52
Speaker 2: you're an Auckland buyers, that's sort of I don't know
34:54
Speaker 2: where you describe that. But it's not an absolute fortune,
34:57
Speaker 2: that's what. This is a hell of a lot of
34:58
Speaker 2: house for one point six million, isn't it.
35:00
Speaker 4: It's a lot of house. I did think that.
35:02
Speaker 3: I thought that's actually a great property if you were
35:04
Speaker 3: a down of the sawn a bit of space.
35:07
Speaker 4: It's a wee bit out of it. To google where
35:09
Speaker 4: it was, to be honest, it was about half an
35:11
Speaker 4: hour to Hamilton, and I thought that's actually quite good.
35:15
Speaker 3: Maybe I would just like to go and relax somewhere
35:18
Speaker 3: like that and take it easy and cafes and move.
35:24
Speaker 2: It's such a what a towny I really am. But actually,
35:30
Speaker 2: to be honest, if you had a house like that,
35:32
Speaker 2: it was situated. Let's not go ridiculous and say era,
35:35
Speaker 2: but it was you know, in a useful location in Auckland.
35:39
Speaker 2: I mean you'll be looking five or six million just
35:41
Speaker 2: in terms of the house of the section. Yeah, yeah,
35:44
Speaker 2: amazing what you can get, isn't it when you go
35:45
Speaker 2: a bit further afield? Yeah, so you go Google wipear again. People,
35:50
Speaker 2: if you are in Auckland, are just like Google wipe
35:55
Speaker 2: The clue is in. I thought of why Pas saw
35:58
Speaker 2: mill instantly, but anyway, of course, he so, just we've
36:02
Speaker 2: got about two minutes left. So what do you reckon
36:06
Speaker 2: for this year? What are you? Is it steady as
36:08
Speaker 2: she goes? Got an election coming up. If you're thinking
36:11
Speaker 2: about buying, you get a little bit of time to
36:12
Speaker 2: think about things.
36:14
Speaker 3: I've made some developers we worked with pretty decreased by
36:17
Speaker 3: telling them it's going to be still a bit slow
36:20
Speaker 3: moving to begin with. I think there'll be more momentum
36:23
Speaker 3: than last year because let's face it, credit's a lot
36:25
Speaker 3: cheaper than it was at the start of last year
36:27
Speaker 3: and people there's a bit more positivity in the market.
36:30
Speaker 3: But it's not going to go gangbusters. But there are
36:32
Speaker 3: some places i'd watch. I think Auckland is going to
36:35
Speaker 3: be is going to really start to turn a christ
36:38
Speaker 3: treach there's still some good momentum going to Hamilton.
36:41
Speaker 4: Next week to get the layer of the land there.
36:43
Speaker 3: Again, I kind of think that it might be a
36:45
Speaker 3: bitter re leaf for Hamilton, but I certainly think christ
36:48
Speaker 3: Church and Auckland are going to be the dining, the
36:51
Speaker 3: jewels in the Crown. I think places like Wellington will
36:54
Speaker 3: still be a bit slow moving. Having said that, I
36:57
Speaker 3: met with a real estate agent last week and he
36:59
Speaker 3: said he worked over the Christmas break, he had lots
37:01
Speaker 3: of time buyers.
37:03
Speaker 2: Yeah, well there you go. Did you say Hamilton and
37:05
Speaker 2: Auckland as well? Did you just put Hamilton back?
37:07
Speaker 3: Yeah, definitely Auckland. I'm not sure about Hamilton. I'll tell
37:11
Speaker 3: you after I've been here in a couple of weeks.
37:13
Speaker 3: I just want to get feed on the ground.
37:15
Speaker 2: You know what we need to do is you know,
37:16
Speaker 2: we will have you back soon, obviously, but if we
37:19
Speaker 2: have an appearance towards the end of the year and
37:20
Speaker 2: Hamilton's gone off, you can say, look, I talked about
37:22
Speaker 2: this at the start of the year. Absolutely absolutely, Okay, mate, Hey,
37:27
Speaker 2: thanks so much. And if people want to check them
37:28
Speaker 2: out Opis Partners, what's the what's the email address for
37:31
Speaker 2: people want to check you out.
37:33
Speaker 3: Website, Opuspartners dot credit is it. If you type on Opus,
37:35
Speaker 3: we should be the first ting that comes down. We'll
37:37
Speaker 3: type on property Investment. If I'm not the first on
37:39
Speaker 3: the page, I'll fire the marketing team.
37:41
Speaker 2: I go, mate, Hey, thanks, great to talk to you, buddy.
37:44
Speaker 2: We'll be up back with the parents squad as next,
37:46
Speaker 2: Sarah Chatwiner is in. We're talking about those start of
37:49
Speaker 2: the year first devices, all that sort of stuff that
37:52
Speaker 2: we've been taking your calls as well. Oh eight, one
37:54
Speaker 2: hundred and eighty ten eighty, it's three minutes to five.
38:25
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