Coast for sale
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I was at Ohope this weekend and it looked like real estate signs were having a convention on the roadside. Given our love affair with property and the beach it was a real “sign of the times” to see house after beachfront house with a for sale sign up.
And something I hadn’t seen before was many of the signs had the asking price emblazoned across them.
I wonder how long it will take for coastal markets to come back, especially in areas like Ohope. Middle of nowhere and on the way to kind of nowhere. Stunning location and beach but will people ever want to pay a million dollars to live/holiday again?
I guess the answer to that is yes of course they will, we are after all kiwis with short memories and a serious sand addiction.
But the last 4 years may mean it’s a long road before we see these markets get anywhere near their 2006/7 heights.
There is always an upside of course. If you’ve been waiting to buy a house cheap at the beach, now is THE time!
Stay Inspired and Stay Safe ~ Dean
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Permanent decisions
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Thought for today:
Never make permanent decisions based on temporary emotions. We can;t control our emotions, they just happen to us don;t they. And most of the time we are being influenced by them because that is part of being a thinking feeling being.
Yet we often make decisions we later regret because those decisions are permanent and not what we would have done if we were less angry/sad/happy.
Think about it for a minute, from unwanted pregnancies to destroyed marriages and financial ruin. Permanent decisions made under the influence of a temporary emotion.
To stop this damage I am learning how to make temporary decisions so that I can check my emotions out. In stead of !$^&$^%#&$^ and ^%$#*!%&#)* to you too I now say:
“Let’s discuss this later on when I can think more clearly about it”.
Recognising our emotional barometer is a great place to start. None of us are going to make rational decisions in the heat of an emotional meltdown so once we establish that as a fact in our lives we can learn to say to ourselves I must not make any decisions right now until I am calmed down, sober, whatever it may be.
This has been quite a revelation to me today, not sure why.
I guess as I get older I understand the word permanent a bit better 
A Championship Team will always beat a team of champions.
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People are finally getting it :-)
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My life, like yours, was, is and will be an adventure. Since entering the property world it has been quite a ride but it is never dull.
I have spent a lot of my time over the last few years looking for answers. Whether it’s how to help someone maximise their returns or how to dig someone out of a hole it is a constant search for solutions.
The recession pushed me into looking at things that I now regret, trying to solve the cashflow drama. The strategies were not necessarily bad ideas but the people attached to them in some cases were.
The one shining light in all of that however has been the US property market. Many clients and friends are now reinvesting again because the numbers work, the problems are manageable and the results are better than anything to be found elsewhere. 2 years on it simply works!
Recently I discovered a legit way to basically 100% finance ongoing purchases by recycling the initial property purchase money over and over.
And being non guaranteed bank lending with high yield makes it, well as close to risk free as I have ever seen anything.
And the overseas fear of the market is finally giving way to an understanding that the Americans problems are our solution, providing you know what you are doing.
So with my clients it has taken 2 years of education and enough proof from third parties to shift the “culture” if you like. End result is more and more people are solving their cash flow issues.
Now your problem might not be cashflow, but whatever it is, the answer may be found in exposing yourself to something outside your comfort zone.
I have often said you need to get out of your comfort zone because that’s where all the money is but the truth is that answers are often found in areas we have historically avoided.
It has been amazing to see people who would never invest in the US ringing me excitedly to add to their portfolios 2 years later.
So what keeps you awake at night and what have you overlooked/ignored/run away from that may hold the answers to your questions??
Now there’s a question
Dean
“A champion team will always beat a team of champions”,
We’d love you to be on our US champion team, next US investing Webinar HERE
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Hubble, bubble, toil and trouble
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Interesting times here in New Zealand. We can see the beginnings of a bubble in Auckland and Christchurch as the Auckland rental market is under supplied, caused in part by so many Mainlanders joining the JAFA brigade.
And in Christchurch the beginning of the rebuild plus all the vultures and speculators looking for how to profit from the rebuild are fueling extraordinary interest there.
Of course this is in stark contrast to the ever deepening recessionary pressures both here and globally which begs the question:
What exactly will happen if one market is so called booming while the country is going backwards. Is it possible for these 2 cities to be leaping ahead property wise defying the rest of the nation?
I guess the simple answer is yes it can happen as we are already seeing it happen in suburbs like Grey Lynn where houses are fetching mad money and competition is fierce at auctions.
But as investors what should we do?
Let’s take a pessimistic view that the country/world is going to be a mess for another 5 to 10 years. If we have a bubble in Auckland and prices increase we can potentially profit by trading in a rising market. That is childs play. But the enormous risk is that the bubble bursts driven by banks not lending to the levels properties are selling for in Auckland or an ever worsening economic outlook causing lending to tighten again.
Most active investors seem to be doing one of the following two:
Running around in Manurewa and Otara and other very low socio economic areas buying and renoing or buying and holding.
I think this will ultimately be a disaster for most of them. We sold out of South Auckland as soon as we could and would never go back there. Maintenance, rental issues and most importantly sliding values make it a very bad idea. (NOTE: I do not include Papakura in South Auckland, that market has consistently performed amazingly well.)
OR they are basically doing nothing. I think this is quite a good strategy right now. Sit out things in NZ or look offshore is not a bad idea. I talk to agents daily and professional finders around the country and the overall outlook is somewhere between muted and terrible so we can’t afford to get bullish yet.
Keep your powder dry!! Don’t be rushing in in New Zealand, there is much uncertainty ahead!
Dean
PS: Our next training webinar is going to be “HOW to research a property/area in the USA”. Book HERE
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Is everybody leaping
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So it is the end of February already and a leap year at that.
Maybe as one gets older the years get shorter, certainly seems that way anyway.
Interesting reading in the papers today. Apparently, if they are to be believed, the property markets in NZ, OZ and the USA are recovering.
Now how even a bad journalist can say that with a straight face is beyond me but maybe it is simply after 4 years of hell we are trying to talk ourselves into a recovery in spite of the facts. Any piece of positive data, no matter how flawed, gets paraded around like the Hope Diamond.
So the tricky part here is where is the line. It is true that we possess what we confess so it is good to talk positively before we see it. This is what hope and faith are about. But the flip side is that reality is reality and sometimes we have to look at the big picture and find our own hope without needing all the circumstances to change. I tended to live in the first camp but age and wisdom forces me to meet more in the middle these days.
The world is in a mess. That is going ot take probably a decade to fix, if not longer. So waiting for the market to change is a bad strategy. However finding good markets and opportunities in the midst of this global nightmare is a good strategy.
Maybe you have been like I was, sitting on stock waiting for the numbers to come right. I realised after 3 years they may not come right for another ten years, so you bite the bullet, feel the pain, take the loss but start to be able to breathe again. And suddenly an option like the USA market or a business opportunity or whatever appears that you couldn’t have considered before because you were in so much pain.
I hope this makes sense, it was very liberating for me to stop hanging on to stuff and on the other side of the pain there was life again! So let it go and make a note to think about again next Feb 29th
Stay Inspired ~ Dean
PS: Only 24 hours to go CASHFLOW CITY
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Are they human after all?
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It is always fascinating to watch politicians when they are under pressure. Certainly Australia is providing incredible entertainment right now as Gillard and Rudd hang each others laundry out all over the media.
I guess it is a reminder that it takes a certain kind of animal to survive in politics. In New Zealand we are a bit too kind so nice guys can hang in there but in Oz and the USA it really is a shark pool. And you have to admire their strategic cunning in the case of Rudd.
Having been bulldozed for being a narcissistic tyrant Rudd is displaying pure genius right now. He knows that Gillard will make Goff defeat look like a victory. No one can stand her. So he can go to all the previously disenfranchised back benchers and say to them:
Stick with Gillard and you are unemployed, work with me and we could win this thing. So better a shot in the dark than a shot in the head.
Stay tuned, we could just see The Rudd Resurrection.
And as long as the mining boom continues, nobody will really care over there anyway.
Only Passion will sustain you when everything turns to custard ~ Dean.
PS: Don’t forget our next USA CASHFLOW Webinar this Thursday!
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