October 26, 2024 • 41 mins
Data shows that more people are buying investment properties as interest rates begin to drop - what's stopping others from doing the same?
Tim Beveridge is joined by property investor Nichole Lewis to discuss more.
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Speaker 1 (00:05):
You're listening to the Weekend Collective podcast from news Talk,
said be Jane, this is the budget.
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Of bab I even got mine and change my name
goes is the way starting.
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Let help us driving FIS teams, the girls come and.
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The drugs couch last day skinny as we.
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Just want.
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The clues. Thus the move he.
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Started, Every good Contigure's.
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Gone live every play on we reached.
Speaker 3 (00:44):
Bay.
Speaker 2 (00:46):
Welcome back to the Weekend Collective on Tim Beveridge. This
is one Ruefridier shape. By the way, if you did
miss the panel, had a great old time. I actually
hadn't had Paul Spoonley on myself, and he had appeared
when somebody had been filling in for me. Cole McDonald
and Paul Spoonley discussing a range of topics. Go and
look for our podcast where you get it. We try
to get podcast up pretty quickly after each hour. It's
(01:08):
the Weekend Collective. I suggest going to iHeartRadio, but right
now it is time for the one roof radio show.
And my guest, well, she hasn't been on enough what
we call a regular, but I think it's I'm optimistic
it's going to head that way. She's a property investor.
She went from losing everything to selling horsepoo and then
building us out back into the privaty market. She's now
(01:28):
she I think you could say she's quite flash anyway.
Her name is Nicole Lewis Nicole Good, good afternoon. How
are you doing?
Speaker 4 (01:36):
Hello, he love, Yes, I left my gum boots at home.
Speaker 2 (01:38):
And actually you have got it. You do have a
very flash pair of high heels on today. I was
just admiring that that the hot pink you.
Speaker 4 (01:45):
Got to buy shoes when you're in Italy?
Speaker 2 (01:47):
Oh really, yeah, I would Actually that would be to
be in the shopping list in Italy, wouldn't it. Yes,
for sure. What are the other things that are on
your shopping list when you go to Italy?
Speaker 4 (01:56):
So leather definitely leather, good leather, leather, leather jackets, you know,
all those sorts of things that are really cheap. So
and lots of pasta and pizza.
Speaker 2 (02:04):
Lots of carbs. Not for the gluten free not.
Speaker 4 (02:07):
Quite well, you can sure you can get gluten free versions.
Speaker 2 (02:09):
Yeah. Now we are going to have a chat about
obviously property because this is one roof radio show. By
the way, people stick around for the one roof Property
of the Week because I've had a chat Nicole has
seen it and it does look like to die for
sort of beach lifestyle house. It's just amazing, and I'll
be sharing the address. You can go and have a
(02:30):
look for yourself. As I say, the Property of the Weeks,
like taking a two or three minute holiday just perusing
someone else's digs. But we're going to talk about investment,
buying investment properties or investing in property as interest rates drop.
And I preluded and preceded the show by talking about
interest rates as if they were already dropping big time.
(02:52):
But I think the anticipation, Nicole, is that interest rates
really are going to drop and what that means for
when when the stable door is open and the horse
has bolted. But what does it mean for our decisions
on property? Hot take on it? Obviously, let's let's lay
the groundwork for it. Interesst rates, I would guess you
would be well, literally probably banking on interest rates dropping.
(03:15):
What's your what's your take on where we're at with that?
Speaker 4 (03:17):
Yeah, I totally agree. So my sort of crystal ball
gazing is that I think interest rates will definitely continue
to drop throughout twenty twenty five. I'd love to see
them get somewhere back in the threes. I don't know,
but the fours for sure.
Speaker 2 (03:31):
Actually, when you said twenty twenty five, in my mind,
I thought, oh, that's ages away. But it's three months
a far not far exactly. It does sound because where
are we at with interest rates at the moment. So
it's Adrianaor's prune the cash rate to four point was
it four point twenty five or four point seventy five?
I suddenly had a mental block.
Speaker 4 (03:48):
Me turning four point seven five pops into my head.
But it could be wrong.
Speaker 2 (03:51):
But now there's talk about it. I think most of
the commentators have asked to distill the advice I've received,
or the opinions that there could be another one hundred
There could be another hundred points dropped up, which is
a whole percent.
Speaker 4 (04:04):
Yeah, I see what every time I guess interest rates,
I get it wrong. Okay, So mine came up to
be refixed in September. I did all my whole twelve
month calculation and thought, right, see that the banks didn't
drop the six months. Sneaky, sneaky, So I thought, okay,
do I keep them at six months? Or do I
just take twelve months. I did all my calculation and
worked out that would have to drop by one percent
(04:27):
by March for me to lose, So I thought, right off,
fix them for twelve months, and I'm always wrong, So
therefore they're going to be down into the low fives
in March.
Speaker 2 (04:38):
Oh, I say, you actually think they are going to
be down?
Speaker 4 (04:40):
Well, you see, I fixed mine for twelve months, and
because I always get it wrong, it probably means they
are going to go down.
Speaker 2 (04:46):
It's a kind of Murphy's law. I don't imagine. I
just think you probably don't apply Murphy's law too often
to your own property.
Speaker 4 (04:51):
Invest do you property? I get right, I read the
property market very well, but interest rates I don't read accurately.
Speaker 2 (04:58):
Actually, when I mentioned the introduction, because you have you
did have a time when everything went south and you
ended up rebuilding, yeap? Is that basically the lessons that
you learned during that time were ones that you were
destined never to repeat because they were hard lessons hard learned.
Speaker 4 (05:13):
Well, you know, funny enough, I was talking about this
just the other day, and it's like it does make
you stronger. It's the absolute cramp you go through teaches
you a huge amount, and so it taught me things like,
don't get bad debt with all your good debt, make
sure your mortgages are all covered so everything's cash flow positive,
and you can have your cake and eat it too,
as long as you pay for things by cash or
(05:35):
invest your cash to pay for the things that you
want to buy. So I just didn't repeat all those
same mistakes. Interest rates are kind of neither here nor
there if you've got a really solid foundation in your
property portfolio.
Speaker 2 (05:49):
Yeah, in fact, you remimmy. We often used to chat
to Tony Alexander, who hated making predictions. Sort of didn't
really hate it, but he used to joke that his
way of finding out something wouldn't go wrong was be
predicted that it would, and it would always always go
the other way around. So assuming that that interest rates
are going to drop pretty swiftly over the next few months,
(06:11):
which could see at least a point, as I say,
if the cash rate, which would will imagine, would translate
into a point off most of the interest rates, what
does that mean? And I'm guessing where I'm asking you
for predictions as well for the investment market, because intuitively,
as I say, I sit on the sidelines and watch,
and usually when I'm right, when I'm on the sidelines,
(06:34):
But there must be some energy.
Speaker 4 (06:36):
Building, do you think I tell you what here's I'll
tell you my prediction, and then I'll tell you what's
actually happening in the market, what I've seen. We were
out hunting for property every day, so I said a
couple of months ago that I thought we were we'd
already hit the bottom of the market and we were turning.
And then we went through a period where the market
was slow, but the price is held.
Speaker 3 (06:54):
Now.
Speaker 4 (06:55):
I think that prices are starting to rise, and my
prediction is that twenty five twenty six will continue to rise, rise, rise,
and we'll peak in twenty twenty seven.
Speaker 2 (07:04):
Don't know where, and why would it peak in twenty
twenty seven, just because we will recover a bit it's
interest and then it'll get up to a certain point
where it'll just have to hang around.
Speaker 4 (07:12):
Two reasons really. One is the property market is cyclical,
and typically if you look back historically over the last
one hundred years, the property market has a seven year cycle.
So I work on that. But the other reason is
too you've got to the government will always look to
control the market when it gets too hot, because you know,
things move too quickly, so that'll no doubt happen, and
(07:35):
then they'll put different things into place to slow things.
Sound probably the DTI switch which they've put in place.
They'll hit DTI sorry, come yeah, yeah, so that's in place,
but at the moment it's all zero. So therefore, when
the market gets too hot, they can sort of flick
that switch to make it more difficult to borrow. So
you know, they've put good countermeasures in place. So that's
(07:57):
the reason why when it starts to peak, and then
you'll have some world event happen that we don't foresee.
Speaker 3 (08:03):
Anger.
Speaker 2 (08:03):
God, we might have had that just about an hour ago.
Did you see the news on Israel and Aram.
Speaker 4 (08:08):
Well, yeah, exactly.
Speaker 2 (08:10):
We might actually touch on that as well as to
how sort of global events unless not over dramatized things. Okay,
we're not going to we're not here to scaremonger, but
there are some big headlines about Israel attacking Irana the
last couple of hours. But so just before we get
into why the market might move on and what it's
going to look like in the next year or two,
(08:31):
let's just so we can because not everyone's listening to
the show every week on this Where are we at
with where we've been through? What's a good way to
sum up the situation the market? Where we've had COVID,
we've had cheap money, we've had the interest rates go
through the floor, and then property prices go through the roof,
and now we've had high inflation, high interest rates, and
(08:53):
everything's settling. Where do you see the market in terms
of an equilibrium, if it ever is an equilibrium.
Speaker 4 (09:00):
That's a good question. I think the market is price
wise buying, we're at the bottom, but we're now getting competition.
So the last month that I've been buying property, more
so the last three weeks, I'm now getting a multi
offer or it's already sold, or they're selling under the
(09:20):
hammer at auction, so things are starting to move. Whereas
a month ago, I didn't have to worry so multi
offer it was just me.
Speaker 2 (09:26):
That sounds dramatical already the way you're describing it, but
is it is? It still got a certain level of
sort of it's just idling with a bit more revsty.
Speaker 4 (09:35):
Yeah, correct, because the prices aren't rising yet, so people
might still play pay asking price or close to it.
And when you consider the market at a peak, things
go way over asking price. You know, I sold one
of mine at auction, and when one hundred thousand dollars
over my reserve which I set what I thought was
the top of the market, where is it the moment?
Speaker 2 (09:57):
So you were surprised by that?
Speaker 4 (09:59):
No, I knew it was the peak, which is why
I put that particular property on the.
Speaker 2 (10:03):
So you weren't surprised by one hundred extra no, okay,
So what does it mean in terms of so the
market's moving a little bit? Now, what are the downward
pressures that would still exist on property prices? And what
are the things that are going to stop it going nuts?
Speaker 5 (10:23):
Well?
Speaker 4 (10:23):
I wonder traditionally over Christmas the market dies, you know,
people go on holiday and they're not interested. So I
wonder whether we'll have the traditional December January lull where
not very many sales happen.
Speaker 2 (10:38):
As the current unemployment sort of situation, and because New
Zealand does feel I don't know, it just feels like
things are not rocking and rolling at the moment, doesn't it.
We've had a lot of people lose their jobs and things,
and how much does the current economic climate so you know,
on paper, pretending we all add jobs and everything, you'd
look at the market and going right, well, you know,
everything's starting to move again. It could go nuts, But
(10:58):
there are a lot of people who don't have jobs.
There's a lot of businesses, you know. You look at
the commercial areas around even around Auckland. I saw the
number of four lease places I saw in Takapuna when
I was there the other day actually shocked me. I thought,
whoa in one of the desirable housing shopping strips? Was
how does that balance out?
Speaker 4 (11:17):
Well, it's interesting. I mean, I remember when I went
to I listened to a really good economist and I
remember him explaining things really well in Layman's terms and
said that when it comes to the property market, you've
basically got a percentage of the property of the people
sorry who rent, so they're not really affected by the market.
So you know, things like unemployment, things like look, a
(11:37):
lot of businesses were hurt with COVID and took a
few years before they went under, So there's a lot
of people hurting out there, but they're sort of out
of the property market as such. And then you've got
a proportion of people who are retiring or they don't
have any mortgages and they're not affected by interest rates
and those sorts of things as well. So you've always
(11:58):
got a large percentage of the population unaffected and a
small percentage having party in the property market.
Speaker 2 (12:07):
And that's why it's sort of always like that.
Speaker 4 (12:10):
It is it is, so yeah, all those things come
into it from an economic perspective. Where we are with inflation,
where we are with unemployment, where we are with the business,
you know, sort of forecasting and confidence economic world economic confidence.
But New Zealand seems to be a little bit insulated.
We sort of will always have our first home buyers
who are out there. The second home buyers are coming
(12:32):
back into the market. They haven't moved because they haven't
been able to afford to with interest rates, and that's
going to push the market as well.
Speaker 2 (12:39):
You mean the second home buyers, you mean the ones
who are buying an investment.
Speaker 4 (12:42):
Property, the ones who are selling selling their first home
and buying a bigger house.
Speaker 2 (12:47):
Why would that ever be any different because you're always
buying it. Why would a second home buyers market ever
be different? Because aren't you always buying and selling in
the same market.
Speaker 4 (12:56):
You are, but you're borrowing more money because you're usually
upgrading to a bigger house. With interest rates being high
in the cost of living being high, they haven't been
able to afford to borrow more money, so they'd stay put.
Speaker 2 (13:06):
Because some people would say, from a point of view
of getting into an investment property, the throwaway line I
could always throw in there because I've heard it so
many times, is the right time to buy is now?
Is that actually true? Or as are there times where
you're like, well, actually, to be honest, the time not
to buy probably was when interest rates crept up and
the market started to crash.
Speaker 4 (13:27):
Look, if you were going to be ideal, you'd want
to buy at the bottom of the market when nobody
else is because property is on sale. But the problem
with the bottom of the market is borrowing is really difficult.
Speaker 2 (13:40):
Well, there's the reason. It's because it's expensive to.
Speaker 4 (13:43):
Borrow exactly, and the banks don't forget. The banks only
ever see risk, So at the bottom of the market
they're like risk, risk, risk risks, so we don't want
to lend. So it's good in theory to say buy
at the bottom, but it's not always easy. And the
other consideration too, especially for a lot of investors who
are self employed, is that when the economy is great,
(14:05):
times are thriving, their books look brilliant for the banks
to lend. If they wait till the down market, their
books look terrible and they can't buy.
Speaker 2 (14:13):
Okay, So we want to take your cause on this.
Are you with the change in interest rates? Are you
re or start it? Not rethinking or starting to think?
What is your attitude to buying property now that the
market is well, that the money market at least looks
like money is going to get a little bit cheaper
or maybe quite a lot cheaper. What is your you know,
(14:35):
are you revisiting what you're going to do? Are you
thinking about buying an investment property? Is now the time
to do it? Give us a call eight hundred and
eighty ten eighty in text on nine two nine two.
My guest is property investor Nicole Lewis, who has written
a book which I have in my pack here called
The Property Quadrants. There we go, We'll be back in
just to mow news talks A B twenty one past four.
Speaker 6 (14:58):
One of them. Bradness, Welcome back to the one Roof
radio show.
Speaker 2 (15:13):
I'm Tim Beverage. My guest is property investor Nicole Lewis.
With the money becoming cheaper, are you changing your plans
or you thinking about actually having a plan when it
comes to getting into either an investment property or your
first house. Oh wait, one hundred and eighty ten eighty,
let's get him some calls. Richard Hello, Richard.
Speaker 7 (15:32):
Hello, Hi, I'm on the Northern Northern toll road.
Speaker 2 (15:39):
Okay, we've got you. Let's let's see how we go. Okay,
you have cut out. I'll just put your back. It
didn't last very well. I just get my producer to
check if your reception's improved or not. Um anyway, let's
have a couple of texts and we'll get carry on
with our conversation and cole. One person says, oh, to
(16:02):
have investment properties is false economy. Bring on the capital
gains tax. We were just talking about a capital gains tax.
I don't know what they mean by false economy, but
the we were just talking about a capital gains tax.
And I don't think a capital gains tax would make
a blind bit of difference to the property market, would
it not?
Speaker 3 (16:22):
Really?
Speaker 2 (16:23):
I mean, so if you can make money, you're still
going to want to make money. Who cares if you
have to pay tax on it?
Speaker 3 (16:28):
Correct?
Speaker 4 (16:28):
I mean it's a little bit tough in the sense
that you know, when you had the ten year bright line,
you don't know what's going to happen in ten years.
Life changes. But look at the end of the day,
I look at it saying, if we're making money in
paying taxes, that's a good thing. I'd rather be making
money in paying tax than not making anything.
Speaker 2 (16:42):
And actually, if you're a property investor in your turning
or developers pay tax for all their properties. And at
what point do property investors become like a developer?
Speaker 3 (16:53):
Is it?
Speaker 2 (16:54):
Because is there a sort of you know what I mean,
it's not just about flipping properties on But if you
are regularly trading in property, when does that?
Speaker 3 (17:02):
Yeah?
Speaker 4 (17:02):
Correct, So there's two different taxable activity. So property is
considered a taxable activity, and you set up a separate
GST registered entity. Becose you're doing property as a business
if you're a developer or a trader, So if you
buy and sell and buy and sell, that's considered taxable activity.
Whereas if you're an investor and you just hold then that,
(17:22):
of course, is not a taxable activity that falls under Brighton.
Speaker 2 (17:26):
I think it was interesting the comments. This is story
is a little while ago, but I think we're keen
to get your take on it. You might remember Antonia Watson,
the CEO of A and Z. I'm not forgetting about
the recent select committee, but remember she made her comments
about a CGT, which I think we're almost taken out
of context because she was basically acknowledging or saying what
(17:47):
she believed that if you are buying an investment property,
if you're really honest, most people are doing it because
they are looking for that gain when they sell the property.
Because she was talking about the poor yields you get
as an investor, mean that really you're buying that for
the care capital gains, which technically actually means you should
(18:07):
pay tax on it anyway under New Zealand law.
Speaker 4 (18:09):
Well exactly, I'm going to throw that right under the bus,
that comment, because really, when I say to people who
come to me for mentoring and coaching, I say what
is the purpose of buying your investment property? And they
say cash flow. They want money coming in, but they
want to have capital gains eventually, And I go why
what do you want to do with that money? So
you have a poor yield if you buy wrong. If
(18:33):
you buy right, you have a really good yield, and
you have high cash flow, which is why you should
be investing, so you can retire off that money and
have passive income and the capital gains become a byproduct.
Speaker 2 (18:46):
Ah, because I would. I've always assumed that given the
cost of money, that most investors are subsidizing the cost
of borrowing through you know, they're topping it up. In fact,
how many investors, Most people are topping up most world.
Speaker 4 (19:02):
But they shouldn't because they've brought wrong really.
Speaker 2 (19:05):
Correct, You make that sound like a like is that
an easy thing to get right?
Speaker 4 (19:15):
Look put it if you're gonna If you've got a
well balanced property portfolio, seventy five percent of your properties
should be cash producing assets, so you should have money
left over after you've paid your mortgage, insurance, your rates,
your maintenance, and your property management fix. And twenty five
percent of that property portfolio can be a high end
(19:36):
capital gain property that you've got to top up, but
you can top it up from your other passive income,
so it still costs you nothing. So if you balance
your portfolio. That's what it should look like. It's easier
to find a standard three bedroom, one bathroom house that
will be cash negative than it is to find a
multi income property that will be cash positive. But you
(19:57):
should be searching for those multi income cash positives. That's
how to secure your portfolio, and so you don't get
self in trouble when interest rates.
Speaker 2 (20:07):
Go up because the story during the boom I guess
the story and the boom boom times. Well, the stories
that you read in the media as people who leverage
themselves up the ying yang yep, and they end up
making because they're brought into really expensive properties, which as
a percentage, you know, if they have a certain percentage
in their increase in price, that's a lot of money.
(20:28):
And so they hang on for grim death and then
they make a fortune. And that seems to me that
most of the stories you read about property investing are
about those high risk, massive return investments which people have made.
Speaker 4 (20:45):
Yeah, but they're not I mean true, you do read
about those things, but they're not a common story.
Speaker 2 (20:49):
Well, that's why I was asking about it. What are
the common stories?
Speaker 4 (20:53):
So, because it depends on affordability, I mean, if you've
got a few million dollars and you can go and
buy a high end property and it's going to go
up by a few million dollars. Great, but that's not
the majority of people Already. Of people can only afford
to get into a lower level investment property and it
goes up over time. So most people want to hold
long term.
Speaker 2 (21:14):
And those days of actually doing that, you know, basically
buying as expensive as you can go and hanging in
there for the capital gain. I think I would imagine
that those stories will be more on the decline anyway,
because I can't imagine the heady days of the market
that it seemed like there was a time when you
didn't need to think about it too much. Just buy
(21:34):
a property. You'll make a fortune where you go.
Speaker 4 (21:37):
Well, you still will, You've got to have the money
to do it in the first place.
Speaker 2 (21:41):
Okay, right, let's take some calls. I think Richard, Hello, doingorry,
that's all right? Oh, this is Richard is on the
north on the expressway. Yep, where you go.
Speaker 7 (21:54):
Yeah, So we just bought a rental property in Uptonville
three months ago because I decided that we've waited long
enough and we just made the jump. I don't think
house prices are going to get much cheaper, yep.
Speaker 4 (22:10):
I would agree with you there.
Speaker 2 (22:12):
So and how's it gone so far? And how did
you how did you structure it all?
Speaker 7 (22:21):
Well, I'm a bad investor by the sound of it.
I buy the most rundown properties I can, and I
fixed them myself. I'm a painter, flash handy man. I'm
actually just coming back from Kywalker.
Speaker 2 (22:35):
Now.
Speaker 7 (22:35):
I've been renovating one at the moment, but the one
we've bought in Holtonville is a brand new foundhout. So
we decided we were going to start to get rid
of our older houses and buy new. And at the
moment it costs us a thousand dollars a week on
top of the rent wof but we can afford that.
(22:57):
So where it's kind of like the savings.
Speaker 4 (22:59):
Account really And what's your long term goal with that?
Speaker 7 (23:05):
Well, we bought one and we kept it. We kept
it for eight years when we sold it, and then
that helped finance us into more, and then we bought
two more and now we've brought another one, and I
guess what we want to do is to consolidate everything
into one or two eventually that gives us an income.
(23:30):
So I'm currently looking I think, Christy fingers, I think
four years' time. Well, we'll have one three holes that
will give us profit and then we can look for more.
I guess, but it's hard.
Speaker 2 (23:43):
How did you go about formulating your plan on how
you were going to approach your investment?
Speaker 3 (23:49):
We didn't.
Speaker 7 (23:50):
We just we like the ouse by it, and then
we like that house that's by it.
Speaker 3 (23:56):
Yeah.
Speaker 7 (23:57):
We've never spent more than twenty four hours looking at
a house.
Speaker 2 (24:02):
See that terrifies me, Richard. So how on a minute,
So how much did you you're subsidizing the mortgage on
this particular purchase by a thousand bucks a week?
Speaker 7 (24:13):
Did you say, no, we've got three rentals at the
moment and all out there profiting me a thousand dollars
a week on top of the rent.
Speaker 2 (24:20):
Okay, and how much have you outlaid for those properties?
May I ask?
Speaker 7 (24:25):
Well, at the moment, my mortgage is one point six million. Yeah,
so we do have a free whole house.
Speaker 2 (24:33):
Okay, And do you just decided I'm going to buy
some property and let's go and look? You must come on.
You make it sound like you just wandered and sawt
I like this house I'm going to buy. So what
did you like about the house? Because there's got to
be some more information about behind this, doesn't there?
Speaker 7 (24:49):
No, Because because I'm a painter and I've worked in
older houses, I know what the what their potential is,
and I know how to tell whether it's got good
bones or not. And so my wife, she's now typical
checking trade me all the time. She says, what about
this one? And I say, okay, let's go have a lock.
And I spend about half an hour looking around thinking, yeah, okay,
(25:11):
let's buy it.
Speaker 2 (25:12):
Okay, I'm guessing you had a price limited?
Speaker 3 (25:15):
Mind? Did you?
Speaker 2 (25:15):
Did you have a price range you're exploring on trade me.
Speaker 7 (25:20):
You know, we've never bought a house over four hundred thousands,
apart from the new one we're just the new one
we just bought was nine hundred thousand.
Speaker 2 (25:28):
Okay, because that is that is a that is a
you know, knowing your limit. I guess it's not that
you were going to wander out and buy three million
dollar houses. What I mean you must you must have
worked out okay, we can spend up to X right.
Speaker 7 (25:41):
Well, to be honest, my wife spent ten years working
at asb bank. So I let her sort out what
we can afford and I tell her what we can fix.
Speaker 4 (25:51):
There you go, I've got I've got a challenge for you.
I've got a challenge. So nine hundred thousand for the
new house that you just bought, why did you decide
to do that and not spend nine hundred thousand dollars
buying a block of units that would be cashflow?
Speaker 1 (26:04):
P Is it for you?
Speaker 7 (26:07):
Because I'm over it? We really want to spend the
next three to four years and get rid of our
older houses and go into newer houses.
Speaker 2 (26:15):
Mm hmm.
Speaker 4 (26:16):
And why would they have to be older ones that.
Speaker 7 (26:17):
You bought though, I'm just I'm starting to get a
sick of the maintenance. Yeah, and newer houses, yes, they
do have maintenance, but typically they you know, I mean
the townhouse we bought now we don't even have to
paint the outside. So as long as if I have
(26:39):
to spend maybe two weeks every three years doing something,
and then I don't care. But at the moment I've
got one that I've been there for a week every
three months doing something, Yeah.
Speaker 4 (26:54):
That makes sense. Have you've been doing a lot of
it yourself and you're over it, which makes sense.
Speaker 7 (26:57):
Yeah, yeah, I want to I want to slow down.
Speaker 4 (27:01):
Well, you could also pay someone else to do the maintenance.
Possibly if you've got money left over from it all,
you can still pay maintenance.
Speaker 7 (27:11):
At the moment, when it's costing us a thousand dollars
a week, I just feel like I don't want to
pay someone to do it.
Speaker 4 (27:17):
No, I totally agree. But if you were earning one
thousand dollars a week consider of it costing you, then
you could pay someone else to do it.
Speaker 1 (27:24):
Well.
Speaker 7 (27:24):
Before, before COVID, we were cashed by natural so actually,
since the rates have gone up that we yet.
Speaker 2 (27:32):
Is there something so you say you're a painter, is
there something that just emotionally as well, if you would
struggle to pay someone to do the painting, if you
and you're thinking, oh, I really should do this myself.
Is that part of the problem You just don't want.
Speaker 3 (27:50):
The head?
Speaker 4 (27:50):
Yeah, and nobody does a job.
Speaker 7 (27:53):
I couldn't get anyone to pay my house ever.
Speaker 2 (27:56):
Yeah, I mean that's I mean that's and that's that's
he knows what he wants. I think what I was
trying to narrow in on there was I just wanted
to know what his parameters were, because from the start
of the call it sounded like, oh, look, I just
wanted to buy a property. My wife looked and we went,
let's buy that one. But so I was trying to
dig into because every investor must have parameters. They're looking
at it because otherwise because I mean, I mean, that
(28:18):
was a fun care from Richard. But initially it started
off like I just wanted to buy a house, and
that looks good, let's go do that. I'm like, there
has to be more in then my wife's work I'm
a painter and buildings all the time, or wife works
at the ANZ. I guess that's the biggest journey for
an investor is to work out their parameters.
Speaker 4 (28:36):
Yes it is, and always say go and have a
chat to a mortgage broker or a bank can find
out what you can borrow. But don't forget that your
borrowing power gets higher if you've got more rent. So
if you buy a property that's got three income streams
and you're getting fifteen hundred dollars a week, that puts
you in a much better cash flow position than if
you buy a single townhouse or something that's giving you
(28:58):
six hundred dollars a week.
Speaker 2 (29:00):
Right, let we need to take a break and I'm
going to come and we're going to dig into this
bit more. But if you want to pick Nicole Lewis
his brains on things. She knows a few things about
property investment, then you can give us a call. One
hundred eighty ten eighty. But we started the show just
with the question does I should have phrased this better?
But does the current environment is that? Is it causing
you to think it's time to get into the market
(29:22):
now because the interest rate's about to fall a bit further,
property might be getting a little bit more affordable. So
are you thinking now's the time I've got to start
giving this some serious thought because you may have just
taken your hands off the controls of the last few
years and thought, oh, I'm not getting in here. It
looks looks pretty looks pretty dire. But right now maybe
that's changing. It's twenty one minutes to five news talks,
(29:43):
he'd be so, let's welcome back to the Weekend Collective.
(30:08):
Got time flies when you're having fun. If you've got
any questions, we'd love to hear from you. Nicole Lewis
as my guest. She is the author of property quadrants.
She went from having property to having none, and she's
real rebuilt her property portfolio and life and she's doing
all right. I think anyway, what basically, what is stopping
you from getting into the property market now that interstrates
(30:33):
look like they're about to keep falling, because I think
from many people, we've been through COVID, we've been through
high interest rates, and probably a lot of people took
their hands off the control and went I'm out, I'm
not doing anything. But is now the time you really
need to reconsider that. I'd love to hear from you
on eight hundred and eighty ten eighty, because yeah, I was.
I mean, I should sort of be in a property
(30:55):
I've been talking about it. I host a property show
and you haven't brought up an investment property yet, Nicole.
Speaker 4 (31:00):
Let me let me get you to answer the own
question that what stops you buying a property now?
Speaker 2 (31:07):
I would say, to be honest, fear, And that's massive
fear about losing everything, about being that guy who wouldn't
you believe it, Old Tim Beverage, you know, and he
just brought it the wrong time and he just ruined
his life.
Speaker 3 (31:23):
There we go.
Speaker 2 (31:24):
That is honest. That's that's the reason I don't because
I think that I'll be the one who misses some
obvious sign and just ballses it up and that's life done.
Speaker 4 (31:34):
You know what, You're not the only one that thinks
like that. A lot of people think property is risky
and it's scary something. You know what they're doing.
Speaker 2 (31:39):
And the funny thing is I produce concerts and you know,
and the risks of those are significant, not life ruining,
but certainly you know, savings destroying. It's weird, isn't it.
Speaker 4 (31:51):
Our attitude to risk, well, attitude to risk is lack
of knowledge. So if people don't know anything about property,
of course they're reluctant to buy. So how can you
get more confident in your purchase?
Speaker 2 (32:04):
And as I say, it has the Property Show, it's ridiculous,
And I can tell lots of people. I can watch
things and go that's going to go. I'll watch. I mean,
the joke used to be or Hamilton's going to go
and Hamilton wentz and I just watched it go. But anyway, hey,
let's take some calls on that. What's the reason you're
not doing it? And maybe we can overcome it. Bruce Slow, Yeah, hi.
Speaker 3 (32:22):
Mamus, Bruce here. Thank you for talking to me. Interesting discussion.
Thank you yourself and Nicole. My question is this is
that I understand your multi income approach that you talked
about for rental returns. That's wonderful, and obviously it'll be
allow a capital purchase to start with. That's wonderful. But
then surely once you've done the ten year bright line
test and you then go to resell the property after
(32:43):
ten years plus or the rental market, it's not the
return going to be a lot lower than if you
bought an individual property with us obviously a little bit
more to start with. I just wanted to have that
question for Nicle please.
Speaker 4 (32:56):
Really it depends where you buy your property to be fair,
I mean, you're always going to have Auckland, for example,
that will appreciate more than probably in Forkargole.
Speaker 3 (33:04):
I'm really referring to based in organomics and that's what
I am familiar with you. Yeah.
Speaker 4 (33:08):
Yes, So if you buy a rental property or a
multi income in Auckland, it'll still appreciate it. If you
buy it somewhere out of Auckland, it will still go
up but.
Speaker 2 (33:17):
Not as much.
Speaker 3 (33:20):
Okay, So you're suggesting to me that if you buy,
obviously you spend a lot less and start through your
multi income. That's great. But you're saying to me that
when you sell after ten years, brightline, you're going to
give a significant larger return on investment than if you
board were.
Speaker 2 (33:35):
Talking about ten years Brightline. There is where I'm out
with it's two two years.
Speaker 3 (33:39):
Oh you sorry too, I mean I'm just referring to
my own situation. Yeah, you held for ten Yeah, that's right. Yeah.
Speaker 4 (33:47):
Look, here's what i'd say, as I'd say that planning
your property portfolio depends on what your goals are. Whether
people want to buy for income in that case, you
want your multi units, and then of course you have
a specific amount you can borrow up to. So if
you can only borrow a small amount, you need to
look out made of Auckland to get something. If you
(34:07):
can borrow a larger amount, of course you can buy
in Auckland. But either way, it's good to have a
diverse portfolio.
Speaker 3 (34:13):
Okay, So diversit your portfolio. That answers my question, thank
you very much. So that, obviously, if you're looking for
a high return versus income return versus capital gain. Yeah,
you're in a mixed up portfolio.
Speaker 2 (34:25):
Thanks Bruce. It's funny. I was pondering, I've got a
Richard who caught spoke before, just texted saying, Tim Richard here,
just buy one take the plunge. Yes, but actually I
think I was thinking about it and we were having
a chat in the break and it's all about, well, first,
you know, you need to work out what you can borrow.
You need to have a chat with your bank, have
a chat with a mortgage broker. And I think probably
(34:46):
it is about taking steps to give yourself information to
realize that, oh oh so this was what it would
look like. Because until you take steps and have you're
just going you're wandering around like a you know, someone
in the dark.
Speaker 4 (35:00):
Can't you look talk to people? It's in property, talk
to property investors, talk to people of the got big
portfolio is probably people are awesome. They're so happy to
give advice and genuinely help, and you always want to
talk to people who know what they're doing.
Speaker 2 (35:12):
Okay, let's take another call. Kelly. Hi, Kelly, Hello, Kelly.
Speaker 5 (35:18):
Hiber How are you good.
Speaker 2 (35:19):
Thanks?
Speaker 5 (35:21):
So Tom, I'm coming from the angle that hon a
bit like you fear. I guess fear has stopped me.
So my situation is that I have equity, very lucky
to have equity in my home. How we've I'm like
singles with two teenage older teenage k and I've been
(35:43):
thinking a long time of you know, for a long
time about buying there, about getting a rental. You're actually
doing something with that equity. But yeah, it's just that's here,
I guess, of doing it on my own.
Speaker 2 (35:56):
And what if what would change? What would what would
help you change your mind? Would it be taking baby
steps and getting info? What can you borrow? What's it mean?
What's the what would help you?
Speaker 5 (36:07):
Yeah, I guess how much I could borrow? It's interesting
the center of this conversation with Oche. So I'd be
looking probably more out of Auckland, start off with a
smaller I guess, looking out of Auckland with a higher
yield potentially, But yeah, I guess it's taking that step
of actually doing it.
Speaker 2 (36:26):
I actually felt quite liberated telling but being honest for
the first time, saying I'm actually just afraid of it, and.
Speaker 4 (36:31):
Don't forget it cost you nothing to talk to someone
as schedule with me. I talk to people. I do
thirty minute schedule properly. Calls for nothing. Talk to me,
Oh I'll help you out. Go and talk to a broker,
find out what you can borrow. It cost you nothing
to ask.
Speaker 5 (36:48):
Okay, sure, yeah, no, I think I'm going to actually
go down that path. Now that's given me a bit
of confidence.
Speaker 2 (36:52):
Good on you, and I think you know what, Kelly,
You've also called a national radio station News Talks. The'd
be nationwide and you've talked about it on air. I
think talking about your plans is also a really good
way to start fulfilling them. Anyway, we'll be back and
just to tack with the one roof Property of the week,
it is ten and a half minutes to five. Yes,
News Talks there, b I'm Tim Beverage. My guest is
Nicole Lewis it is that time of the day. It's
(37:13):
seven minutes to five, the.
Speaker 1 (37:16):
One roof property of the week on the weekend collective.
Speaker 2 (37:20):
Now, I did tease this before something you might want
to check out, and I would absolutely recommend it. It is.
I think it is actually probably the most interesting looking
and appealing house I've looked at that if I had
the money, I'd be like, honey, let's go and check
this out. It is eighty seven Rutherford Drive. Why can't
(37:41):
I beach Carpety Coast. It's the thing that stood out
to me is this amazing swimming pool they've got at
the front of it. It's a single level home with
five bedrooms and six bathrooms and as the words are
used incomparable, it's unobstructed sea views across Carpety Island to
(38:01):
the South Island, one and a half hectares with over
five hundred square meters of Hampton style charm and luxury.
I'm always amused by houses that have a swimming pool
when they live next to the beach. But the swimming
pool is absolutely magnificent and Nicole, you've had a look
at it, an't Jill? What do you make of it?
Speaker 7 (38:19):
Yeah?
Speaker 4 (38:19):
No, I love it. And friends of ours actually have
just built and woken ice. I'm very familiar with that
beautiful house. But maybe I could buy it.
Speaker 2 (38:26):
Look, I'll tell you what you should buy it, and
then just say, Timmy, you're looking for a weekend place
to go with the family, Okay.
Speaker 4 (38:31):
And you can go and check it out.
Speaker 2 (38:33):
Happily, that swimming pool is stunning.
Speaker 4 (38:37):
Isn't it a beautiful house?
Speaker 2 (38:38):
So you should go and check it out. Now I'm
looking down at the views. It does look like it's
got a mini golf course in front of it in
terms of grassed over dunes. But the beat, I mean
it is a beautiful I don't know how you describe it,
but the way it flows from the inside of the outside.
In fact, the timber on the deck, it does seem
(38:59):
that the timber on the deck even flows straight into
the kitchen and the living room. So it's got that
absolute beach field. I should tell you the price, but
don't let it put you off going to have a look.
It's estimate estimate is three point nine to five million, which,
ak that is a lot of money for most people,
(39:20):
But in terms of a beach property of that caliber,
I would think that it's actually possibly not bad buying.
Speaker 4 (39:28):
Isn't it pretty reasonable? Actually?
Speaker 2 (39:29):
Yeah so? And there's even a separate, semi self contained
two bedroom guess pavilion. Oh That's where I'm going to
stay when I visit. Anyway, go and check it out.
Go to the one Roof website and or you can
just google eighty seven rather than drive. Why can't I
beach carpety coast And there are truckloads and photos and
(39:51):
it's just like as I say, every time, taking a
taking around holiday mind you. And the bathroom by the way,
oh my goodness. I don't think you'd ever leave except
maybe go for a swim in that wonderful paul out
the front, which look absolutely colossal with a barbecue area
built in sort of sunken next to the pool. So anyway, well,
(40:12):
I could think it was if somebody did splash, it
might get a bit of water on your sausages, but
that would be about it. Anyway. What are you doing
for the rest of labour week in Nicole?
Speaker 4 (40:21):
Very good question. I'm going to go look for property.
Speaker 2 (40:24):
Oh there you go. And if people want to get
hold of your advice or they want to get property
Quadrants is the book you've got out.
Speaker 4 (40:31):
Property Quadrants is the book. It's in bookstores, it's online,
and my website is the Property Lofestyle. People want to
talk property, they can always book a call with me
and we can talk property anytime.
Speaker 2 (40:41):
That's Nicole or that's Nicole with an h the property
lifestyle dot.
Speaker 4 (40:45):
Co dot indeed, oh no, it's not. It's dot com,
dot com, dot com.
Speaker 2 (40:48):
I'm sure they'll find it anyway. That generally doesn't stop
people tracking people down anyway. Thanks so much, good to
see Nicole, and we'll be back shortly with the Parents
Squad and with davet. Concon'll be joining us in just
a moment. News Talk z B.
Speaker 1 (41:12):
For more from the weekend collective. Listen live to News
Talks it be weekends from three pm, or follow the
podcast on iHeartRadio
You're listening to the Weekend Collective podcast from news Talk,
said be Jane, this is the budget.
Speaker 2 (00:12):
Of bab I even got mine and change my name
goes is the way starting.
Speaker 3 (00:20):
Let help us driving FIS teams, the girls come and.
Speaker 2 (00:25):
The drugs couch last day skinny as we.
Speaker 3 (00:29):
Just want.
Speaker 2 (00:32):
The clues. Thus the move he.
Speaker 3 (00:36):
Started, Every good Contigure's.
Speaker 2 (00:38):
Gone live every play on we reached.
Speaker 3 (00:44):
Bay.
Speaker 2 (00:46):
Welcome back to the Weekend Collective on Tim Beveridge. This
is one Ruefridier shape. By the way, if you did
miss the panel, had a great old time. I actually
hadn't had Paul Spoonley on myself, and he had appeared
when somebody had been filling in for me. Cole McDonald
and Paul Spoonley discussing a range of topics. Go and
look for our podcast where you get it. We try
to get podcast up pretty quickly after each hour. It's
(01:08):
the Weekend Collective. I suggest going to iHeartRadio, but right
now it is time for the one roof radio show.
And my guest, well, she hasn't been on enough what
we call a regular, but I think it's I'm optimistic
it's going to head that way. She's a property investor.
She went from losing everything to selling horsepoo and then
building us out back into the privaty market. She's now
(01:28):
she I think you could say she's quite flash anyway.
Her name is Nicole Lewis Nicole Good, good afternoon. How
are you doing?
Speaker 4 (01:36):
Hello, he love, Yes, I left my gum boots at home.
Speaker 2 (01:38):
And actually you have got it. You do have a
very flash pair of high heels on today. I was
just admiring that that the hot pink you.
Speaker 4 (01:45):
Got to buy shoes when you're in Italy?
Speaker 2 (01:47):
Oh really, yeah, I would Actually that would be to
be in the shopping list in Italy, wouldn't it. Yes,
for sure. What are the other things that are on
your shopping list when you go to Italy?
Speaker 4 (01:56):
So leather definitely leather, good leather, leather, leather jackets, you know,
all those sorts of things that are really cheap. So
and lots of pasta and pizza.
Speaker 2 (02:04):
Lots of carbs. Not for the gluten free not.
Speaker 4 (02:07):
Quite well, you can sure you can get gluten free versions.
Speaker 2 (02:09):
Yeah. Now we are going to have a chat about
obviously property because this is one roof radio show. By
the way, people stick around for the one roof Property
of the Week because I've had a chat Nicole has
seen it and it does look like to die for
sort of beach lifestyle house. It's just amazing, and I'll
be sharing the address. You can go and have a
(02:30):
look for yourself. As I say, the Property of the Weeks,
like taking a two or three minute holiday just perusing
someone else's digs. But we're going to talk about investment,
buying investment properties or investing in property as interest rates drop.
And I preluded and preceded the show by talking about
interest rates as if they were already dropping big time.
(02:52):
But I think the anticipation, Nicole, is that interest rates
really are going to drop and what that means for
when when the stable door is open and the horse
has bolted. But what does it mean for our decisions
on property? Hot take on it? Obviously, let's let's lay
the groundwork for it. Interesst rates, I would guess you
would be well, literally probably banking on interest rates dropping.
(03:15):
What's your what's your take on where we're at with that?
Speaker 4 (03:17):
Yeah, I totally agree. So my sort of crystal ball
gazing is that I think interest rates will definitely continue
to drop throughout twenty twenty five. I'd love to see
them get somewhere back in the threes. I don't know,
but the fours for sure.
Speaker 2 (03:31):
Actually, when you said twenty twenty five, in my mind,
I thought, oh, that's ages away. But it's three months
a far not far exactly. It does sound because where
are we at with interest rates at the moment. So
it's Adrianaor's prune the cash rate to four point was
it four point twenty five or four point seventy five?
I suddenly had a mental block.
Speaker 4 (03:48):
Me turning four point seven five pops into my head.
But it could be wrong.
Speaker 2 (03:51):
But now there's talk about it. I think most of
the commentators have asked to distill the advice I've received,
or the opinions that there could be another one hundred
There could be another hundred points dropped up, which is
a whole percent.
Speaker 4 (04:04):
Yeah, I see what every time I guess interest rates,
I get it wrong. Okay, So mine came up to
be refixed in September. I did all my whole twelve
month calculation and thought, right, see that the banks didn't
drop the six months. Sneaky, sneaky, So I thought, okay,
do I keep them at six months? Or do I
just take twelve months. I did all my calculation and
worked out that would have to drop by one percent
(04:27):
by March for me to lose, So I thought, right off,
fix them for twelve months, and I'm always wrong, So
therefore they're going to be down into the low fives
in March.
Speaker 2 (04:38):
Oh, I say, you actually think they are going to
be down?
Speaker 4 (04:40):
Well, you see, I fixed mine for twelve months, and
because I always get it wrong, it probably means they
are going to go down.
Speaker 2 (04:46):
It's a kind of Murphy's law. I don't imagine. I
just think you probably don't apply Murphy's law too often
to your own property.
Speaker 4 (04:51):
Invest do you property? I get right, I read the
property market very well, but interest rates I don't read accurately.
Speaker 2 (04:58):
Actually, when I mentioned the introduction, because you have you
did have a time when everything went south and you
ended up rebuilding, yeap? Is that basically the lessons that
you learned during that time were ones that you were
destined never to repeat because they were hard lessons hard learned.
Speaker 4 (05:13):
Well, you know, funny enough, I was talking about this
just the other day, and it's like it does make
you stronger. It's the absolute cramp you go through teaches
you a huge amount, and so it taught me things like,
don't get bad debt with all your good debt, make
sure your mortgages are all covered so everything's cash flow positive,
and you can have your cake and eat it too,
as long as you pay for things by cash or
(05:35):
invest your cash to pay for the things that you
want to buy. So I just didn't repeat all those
same mistakes. Interest rates are kind of neither here nor
there if you've got a really solid foundation in your
property portfolio.
Speaker 2 (05:49):
Yeah, in fact, you remimmy. We often used to chat
to Tony Alexander, who hated making predictions. Sort of didn't
really hate it, but he used to joke that his
way of finding out something wouldn't go wrong was be
predicted that it would, and it would always always go
the other way around. So assuming that that interest rates
are going to drop pretty swiftly over the next few months,
(06:11):
which could see at least a point, as I say,
if the cash rate, which would will imagine, would translate
into a point off most of the interest rates, what
does that mean? And I'm guessing where I'm asking you
for predictions as well for the investment market, because intuitively,
as I say, I sit on the sidelines and watch,
and usually when I'm right, when I'm on the sidelines,
(06:34):
But there must be some energy.
Speaker 4 (06:36):
Building, do you think I tell you what here's I'll
tell you my prediction, and then I'll tell you what's
actually happening in the market, what I've seen. We were
out hunting for property every day, so I said a
couple of months ago that I thought we were we'd
already hit the bottom of the market and we were turning.
And then we went through a period where the market
was slow, but the price is held.
Speaker 3 (06:54):
Now.
Speaker 4 (06:55):
I think that prices are starting to rise, and my
prediction is that twenty five twenty six will continue to rise, rise, rise,
and we'll peak in twenty twenty seven.
Speaker 2 (07:04):
Don't know where, and why would it peak in twenty
twenty seven, just because we will recover a bit it's
interest and then it'll get up to a certain point
where it'll just have to hang around.
Speaker 4 (07:12):
Two reasons really. One is the property market is cyclical,
and typically if you look back historically over the last
one hundred years, the property market has a seven year cycle.
So I work on that. But the other reason is
too you've got to the government will always look to
control the market when it gets too hot, because you know,
things move too quickly, so that'll no doubt happen, and
(07:35):
then they'll put different things into place to slow things.
Sound probably the DTI switch which they've put in place.
They'll hit DTI sorry, come yeah, yeah, so that's in place,
but at the moment it's all zero. So therefore, when
the market gets too hot, they can sort of flick
that switch to make it more difficult to borrow. So
you know, they've put good countermeasures in place. So that's
(07:57):
the reason why when it starts to peak, and then
you'll have some world event happen that we don't foresee.
Speaker 3 (08:03):
Anger.
Speaker 2 (08:03):
God, we might have had that just about an hour ago.
Did you see the news on Israel and Aram.
Speaker 4 (08:08):
Well, yeah, exactly.
Speaker 2 (08:10):
We might actually touch on that as well as to
how sort of global events unless not over dramatized things. Okay,
we're not going to we're not here to scaremonger, but
there are some big headlines about Israel attacking Irana the
last couple of hours. But so just before we get
into why the market might move on and what it's
going to look like in the next year or two,
(08:31):
let's just so we can because not everyone's listening to
the show every week on this Where are we at
with where we've been through? What's a good way to
sum up the situation the market? Where we've had COVID,
we've had cheap money, we've had the interest rates go
through the floor, and then property prices go through the roof,
and now we've had high inflation, high interest rates, and
(08:53):
everything's settling. Where do you see the market in terms
of an equilibrium, if it ever is an equilibrium.
Speaker 4 (09:00):
That's a good question. I think the market is price
wise buying, we're at the bottom, but we're now getting competition.
So the last month that I've been buying property, more
so the last three weeks, I'm now getting a multi
offer or it's already sold, or they're selling under the
(09:20):
hammer at auction, so things are starting to move. Whereas
a month ago, I didn't have to worry so multi
offer it was just me.
Speaker 2 (09:26):
That sounds dramatical already the way you're describing it, but
is it is? It still got a certain level of
sort of it's just idling with a bit more revsty.
Speaker 4 (09:35):
Yeah, correct, because the prices aren't rising yet, so people
might still play pay asking price or close to it.
And when you consider the market at a peak, things
go way over asking price. You know, I sold one
of mine at auction, and when one hundred thousand dollars
over my reserve which I set what I thought was
the top of the market, where is it the moment?
Speaker 2 (09:57):
So you were surprised by that?
Speaker 4 (09:59):
No, I knew it was the peak, which is why
I put that particular property on the.
Speaker 2 (10:03):
So you weren't surprised by one hundred extra no, okay,
So what does it mean in terms of so the
market's moving a little bit? Now, what are the downward
pressures that would still exist on property prices? And what
are the things that are going to stop it going nuts?
Speaker 5 (10:23):
Well?
Speaker 4 (10:23):
I wonder traditionally over Christmas the market dies, you know,
people go on holiday and they're not interested. So I
wonder whether we'll have the traditional December January lull where
not very many sales happen.
Speaker 2 (10:38):
As the current unemployment sort of situation, and because New
Zealand does feel I don't know, it just feels like
things are not rocking and rolling at the moment, doesn't it.
We've had a lot of people lose their jobs and things,
and how much does the current economic climate so you know,
on paper, pretending we all add jobs and everything, you'd
look at the market and going right, well, you know,
everything's starting to move again. It could go nuts, But
(10:58):
there are a lot of people who don't have jobs.
There's a lot of businesses, you know. You look at
the commercial areas around even around Auckland. I saw the
number of four lease places I saw in Takapuna when
I was there the other day actually shocked me. I thought,
whoa in one of the desirable housing shopping strips? Was
how does that balance out?
Speaker 4 (11:17):
Well, it's interesting. I mean, I remember when I went
to I listened to a really good economist and I
remember him explaining things really well in Layman's terms and
said that when it comes to the property market, you've
basically got a percentage of the property of the people
sorry who rent, so they're not really affected by the market.
So you know, things like unemployment, things like look, a
(11:37):
lot of businesses were hurt with COVID and took a
few years before they went under, So there's a lot
of people hurting out there, but they're sort of out
of the property market as such. And then you've got
a proportion of people who are retiring or they don't
have any mortgages and they're not affected by interest rates
and those sorts of things as well. So you've always
(11:58):
got a large percentage of the population unaffected and a
small percentage having party in the property market.
Speaker 2 (12:07):
And that's why it's sort of always like that.
Speaker 4 (12:10):
It is it is, so yeah, all those things come
into it from an economic perspective. Where we are with inflation,
where we are with unemployment, where we are with the business,
you know, sort of forecasting and confidence economic world economic confidence.
But New Zealand seems to be a little bit insulated.
We sort of will always have our first home buyers
who are out there. The second home buyers are coming
(12:32):
back into the market. They haven't moved because they haven't
been able to afford to with interest rates, and that's
going to push the market as well.
Speaker 2 (12:39):
You mean the second home buyers, you mean the ones
who are buying an investment.
Speaker 4 (12:42):
Property, the ones who are selling selling their first home
and buying a bigger house.
Speaker 2 (12:47):
Why would that ever be any different because you're always
buying it. Why would a second home buyers market ever
be different? Because aren't you always buying and selling in
the same market.
Speaker 4 (12:56):
You are, but you're borrowing more money because you're usually
upgrading to a bigger house. With interest rates being high
in the cost of living being high, they haven't been
able to afford to borrow more money, so they'd stay put.
Speaker 2 (13:06):
Because some people would say, from a point of view
of getting into an investment property, the throwaway line I
could always throw in there because I've heard it so
many times, is the right time to buy is now?
Is that actually true? Or as are there times where
you're like, well, actually, to be honest, the time not
to buy probably was when interest rates crept up and
the market started to crash.
Speaker 4 (13:27):
Look, if you were going to be ideal, you'd want
to buy at the bottom of the market when nobody
else is because property is on sale. But the problem
with the bottom of the market is borrowing is really difficult.
Speaker 2 (13:40):
Well, there's the reason. It's because it's expensive to.
Speaker 4 (13:43):
Borrow exactly, and the banks don't forget. The banks only
ever see risk, So at the bottom of the market
they're like risk, risk, risk risks, so we don't want
to lend. So it's good in theory to say buy
at the bottom, but it's not always easy. And the
other consideration too, especially for a lot of investors who
are self employed, is that when the economy is great,
(14:05):
times are thriving, their books look brilliant for the banks
to lend. If they wait till the down market, their
books look terrible and they can't buy.
Speaker 2 (14:13):
Okay, So we want to take your cause on this.
Are you with the change in interest rates? Are you
re or start it? Not rethinking or starting to think?
What is your attitude to buying property now that the
market is well, that the money market at least looks
like money is going to get a little bit cheaper
or maybe quite a lot cheaper. What is your you know,
(14:35):
are you revisiting what you're going to do? Are you
thinking about buying an investment property? Is now the time
to do it? Give us a call eight hundred and
eighty ten eighty in text on nine two nine two.
My guest is property investor Nicole Lewis, who has written
a book which I have in my pack here called
The Property Quadrants. There we go, We'll be back in
just to mow news talks A B twenty one past four.
Speaker 6 (14:58):
One of them. Bradness, Welcome back to the one Roof
radio show.
Speaker 2 (15:13):
I'm Tim Beverage. My guest is property investor Nicole Lewis.
With the money becoming cheaper, are you changing your plans
or you thinking about actually having a plan when it
comes to getting into either an investment property or your
first house. Oh wait, one hundred and eighty ten eighty,
let's get him some calls. Richard Hello, Richard.
Speaker 7 (15:32):
Hello, Hi, I'm on the Northern Northern toll road.
Speaker 2 (15:39):
Okay, we've got you. Let's let's see how we go. Okay,
you have cut out. I'll just put your back. It
didn't last very well. I just get my producer to
check if your reception's improved or not. Um anyway, let's
have a couple of texts and we'll get carry on
with our conversation and cole. One person says, oh, to
(16:02):
have investment properties is false economy. Bring on the capital
gains tax. We were just talking about a capital gains tax.
I don't know what they mean by false economy, but
the we were just talking about a capital gains tax.
And I don't think a capital gains tax would make
a blind bit of difference to the property market, would
it not?
Speaker 3 (16:22):
Really?
Speaker 2 (16:23):
I mean, so if you can make money, you're still
going to want to make money. Who cares if you
have to pay tax on it?
Speaker 3 (16:28):
Correct?
Speaker 4 (16:28):
I mean it's a little bit tough in the sense
that you know, when you had the ten year bright line,
you don't know what's going to happen in ten years.
Life changes. But look at the end of the day,
I look at it saying, if we're making money in
paying taxes, that's a good thing. I'd rather be making
money in paying tax than not making anything.
Speaker 2 (16:42):
And actually, if you're a property investor in your turning
or developers pay tax for all their properties. And at
what point do property investors become like a developer?
Speaker 3 (16:53):
Is it?
Speaker 2 (16:54):
Because is there a sort of you know what I mean,
it's not just about flipping properties on But if you
are regularly trading in property, when does that?
Speaker 3 (17:02):
Yeah?
Speaker 4 (17:02):
Correct, So there's two different taxable activity. So property is
considered a taxable activity, and you set up a separate
GST registered entity. Becose you're doing property as a business
if you're a developer or a trader, So if you
buy and sell and buy and sell, that's considered taxable activity.
Whereas if you're an investor and you just hold then that,
(17:22):
of course, is not a taxable activity that falls under Brighton.
Speaker 2 (17:26):
I think it was interesting the comments. This is story
is a little while ago, but I think we're keen
to get your take on it. You might remember Antonia Watson,
the CEO of A and Z. I'm not forgetting about
the recent select committee, but remember she made her comments
about a CGT, which I think we're almost taken out
of context because she was basically acknowledging or saying what
(17:47):
she believed that if you are buying an investment property,
if you're really honest, most people are doing it because
they are looking for that gain when they sell the property.
Because she was talking about the poor yields you get
as an investor, mean that really you're buying that for
the care capital gains, which technically actually means you should
(18:07):
pay tax on it anyway under New Zealand law.
Speaker 4 (18:09):
Well exactly, I'm going to throw that right under the bus,
that comment, because really, when I say to people who
come to me for mentoring and coaching, I say what
is the purpose of buying your investment property? And they
say cash flow. They want money coming in, but they
want to have capital gains eventually, And I go why
what do you want to do with that money? So
you have a poor yield if you buy wrong. If
(18:33):
you buy right, you have a really good yield, and
you have high cash flow, which is why you should
be investing, so you can retire off that money and
have passive income and the capital gains become a byproduct.
Speaker 2 (18:46):
Ah, because I would. I've always assumed that given the
cost of money, that most investors are subsidizing the cost
of borrowing through you know, they're topping it up. In fact,
how many investors, Most people are topping up most world.
Speaker 4 (19:02):
But they shouldn't because they've brought wrong really.
Speaker 2 (19:05):
Correct, You make that sound like a like is that
an easy thing to get right?
Speaker 4 (19:15):
Look put it if you're gonna If you've got a
well balanced property portfolio, seventy five percent of your properties
should be cash producing assets, so you should have money
left over after you've paid your mortgage, insurance, your rates,
your maintenance, and your property management fix. And twenty five
percent of that property portfolio can be a high end
(19:36):
capital gain property that you've got to top up, but
you can top it up from your other passive income,
so it still costs you nothing. So if you balance
your portfolio. That's what it should look like. It's easier
to find a standard three bedroom, one bathroom house that
will be cash negative than it is to find a
multi income property that will be cash positive. But you
(19:57):
should be searching for those multi income cash positives. That's
how to secure your portfolio, and so you don't get
self in trouble when interest rates.
Speaker 2 (20:07):
Go up because the story during the boom I guess
the story and the boom boom times. Well, the stories
that you read in the media as people who leverage
themselves up the ying yang yep, and they end up
making because they're brought into really expensive properties, which as
a percentage, you know, if they have a certain percentage
in their increase in price, that's a lot of money.
(20:28):
And so they hang on for grim death and then
they make a fortune. And that seems to me that
most of the stories you read about property investing are
about those high risk, massive return investments which people have made.
Speaker 4 (20:45):
Yeah, but they're not I mean true, you do read
about those things, but they're not a common story.
Speaker 2 (20:49):
Well, that's why I was asking about it. What are
the common stories?
Speaker 4 (20:53):
So, because it depends on affordability, I mean, if you've
got a few million dollars and you can go and
buy a high end property and it's going to go
up by a few million dollars. Great, but that's not
the majority of people Already. Of people can only afford
to get into a lower level investment property and it
goes up over time. So most people want to hold
long term.
Speaker 2 (21:14):
And those days of actually doing that, you know, basically
buying as expensive as you can go and hanging in
there for the capital gain. I think I would imagine
that those stories will be more on the decline anyway,
because I can't imagine the heady days of the market
that it seemed like there was a time when you
didn't need to think about it too much. Just buy
(21:34):
a property. You'll make a fortune where you go.
Speaker 4 (21:37):
Well, you still will, You've got to have the money
to do it in the first place.
Speaker 2 (21:41):
Okay, right, let's take some calls. I think Richard, Hello, doingorry,
that's all right? Oh, this is Richard is on the
north on the expressway. Yep, where you go.
Speaker 7 (21:54):
Yeah, So we just bought a rental property in Uptonville
three months ago because I decided that we've waited long
enough and we just made the jump. I don't think
house prices are going to get much cheaper, yep.
Speaker 4 (22:10):
I would agree with you there.
Speaker 2 (22:12):
So and how's it gone so far? And how did
you how did you structure it all?
Speaker 7 (22:21):
Well, I'm a bad investor by the sound of it.
I buy the most rundown properties I can, and I
fixed them myself. I'm a painter, flash handy man. I'm
actually just coming back from Kywalker.
Speaker 2 (22:35):
Now.
Speaker 7 (22:35):
I've been renovating one at the moment, but the one
we've bought in Holtonville is a brand new foundhout. So
we decided we were going to start to get rid
of our older houses and buy new. And at the
moment it costs us a thousand dollars a week on
top of the rent wof but we can afford that.
(22:57):
So where it's kind of like the savings.
Speaker 4 (22:59):
Account really And what's your long term goal with that?
Speaker 7 (23:05):
Well, we bought one and we kept it. We kept
it for eight years when we sold it, and then
that helped finance us into more, and then we bought
two more and now we've brought another one, and I
guess what we want to do is to consolidate everything
into one or two eventually that gives us an income.
(23:30):
So I'm currently looking I think, Christy fingers, I think
four years' time. Well, we'll have one three holes that
will give us profit and then we can look for more.
I guess, but it's hard.
Speaker 2 (23:43):
How did you go about formulating your plan on how
you were going to approach your investment?
Speaker 3 (23:49):
We didn't.
Speaker 7 (23:50):
We just we like the ouse by it, and then
we like that house that's by it.
Speaker 3 (23:56):
Yeah.
Speaker 7 (23:57):
We've never spent more than twenty four hours looking at
a house.
Speaker 2 (24:02):
See that terrifies me, Richard. So how on a minute,
So how much did you you're subsidizing the mortgage on
this particular purchase by a thousand bucks a week?
Speaker 7 (24:13):
Did you say, no, we've got three rentals at the
moment and all out there profiting me a thousand dollars
a week on top of the rent.
Speaker 2 (24:20):
Okay, and how much have you outlaid for those properties?
May I ask?
Speaker 7 (24:25):
Well, at the moment, my mortgage is one point six million. Yeah,
so we do have a free whole house.
Speaker 2 (24:33):
Okay, And do you just decided I'm going to buy
some property and let's go and look? You must come on.
You make it sound like you just wandered and sawt
I like this house I'm going to buy. So what
did you like about the house? Because there's got to
be some more information about behind this, doesn't there?
Speaker 7 (24:49):
No, Because because I'm a painter and I've worked in
older houses, I know what the what their potential is,
and I know how to tell whether it's got good
bones or not. And so my wife, she's now typical
checking trade me all the time. She says, what about
this one? And I say, okay, let's go have a lock.
And I spend about half an hour looking around thinking, yeah, okay,
(25:11):
let's buy it.
Speaker 2 (25:12):
Okay, I'm guessing you had a price limited?
Speaker 3 (25:15):
Mind? Did you?
Speaker 2 (25:15):
Did you have a price range you're exploring on trade me.
Speaker 7 (25:20):
You know, we've never bought a house over four hundred thousands,
apart from the new one we're just the new one
we just bought was nine hundred thousand.
Speaker 2 (25:28):
Okay, because that is that is a that is a
you know, knowing your limit. I guess it's not that
you were going to wander out and buy three million
dollar houses. What I mean you must you must have
worked out okay, we can spend up to X right.
Speaker 7 (25:41):
Well, to be honest, my wife spent ten years working
at asb bank. So I let her sort out what
we can afford and I tell her what we can fix.
Speaker 4 (25:51):
There you go, I've got I've got a challenge for you.
I've got a challenge. So nine hundred thousand for the
new house that you just bought, why did you decide
to do that and not spend nine hundred thousand dollars
buying a block of units that would be cashflow?
Speaker 1 (26:04):
P Is it for you?
Speaker 7 (26:07):
Because I'm over it? We really want to spend the
next three to four years and get rid of our
older houses and go into newer houses.
Speaker 2 (26:15):
Mm hmm.
Speaker 4 (26:16):
And why would they have to be older ones that.
Speaker 7 (26:17):
You bought though, I'm just I'm starting to get a
sick of the maintenance. Yeah, and newer houses, yes, they
do have maintenance, but typically they you know, I mean
the townhouse we bought now we don't even have to
paint the outside. So as long as if I have
(26:39):
to spend maybe two weeks every three years doing something,
and then I don't care. But at the moment I've
got one that I've been there for a week every
three months doing something, Yeah.
Speaker 4 (26:54):
That makes sense. Have you've been doing a lot of
it yourself and you're over it, which makes sense.
Speaker 7 (26:57):
Yeah, yeah, I want to I want to slow down.
Speaker 4 (27:01):
Well, you could also pay someone else to do the maintenance.
Possibly if you've got money left over from it all,
you can still pay maintenance.
Speaker 7 (27:11):
At the moment, when it's costing us a thousand dollars
a week, I just feel like I don't want to
pay someone to do it.
Speaker 4 (27:17):
No, I totally agree. But if you were earning one
thousand dollars a week consider of it costing you, then
you could pay someone else to do it.
Speaker 1 (27:24):
Well.
Speaker 7 (27:24):
Before, before COVID, we were cashed by natural so actually,
since the rates have gone up that we yet.
Speaker 2 (27:32):
Is there something so you say you're a painter, is
there something that just emotionally as well, if you would
struggle to pay someone to do the painting, if you
and you're thinking, oh, I really should do this myself.
Is that part of the problem You just don't want.
Speaker 3 (27:50):
The head?
Speaker 4 (27:50):
Yeah, and nobody does a job.
Speaker 7 (27:53):
I couldn't get anyone to pay my house ever.
Speaker 2 (27:56):
Yeah, I mean that's I mean that's and that's that's
he knows what he wants. I think what I was
trying to narrow in on there was I just wanted
to know what his parameters were, because from the start
of the call it sounded like, oh, look, I just
wanted to buy a property. My wife looked and we went,
let's buy that one. But so I was trying to
dig into because every investor must have parameters. They're looking
at it because otherwise because I mean, I mean, that
(28:18):
was a fun care from Richard. But initially it started
off like I just wanted to buy a house, and
that looks good, let's go do that. I'm like, there
has to be more in then my wife's work I'm
a painter and buildings all the time, or wife works
at the ANZ. I guess that's the biggest journey for
an investor is to work out their parameters.
Speaker 4 (28:36):
Yes it is, and always say go and have a
chat to a mortgage broker or a bank can find
out what you can borrow. But don't forget that your
borrowing power gets higher if you've got more rent. So
if you buy a property that's got three income streams
and you're getting fifteen hundred dollars a week, that puts
you in a much better cash flow position than if
you buy a single townhouse or something that's giving you
(28:58):
six hundred dollars a week.
Speaker 2 (29:00):
Right, let we need to take a break and I'm
going to come and we're going to dig into this
bit more. But if you want to pick Nicole Lewis
his brains on things. She knows a few things about
property investment, then you can give us a call. One
hundred eighty ten eighty. But we started the show just
with the question does I should have phrased this better?
But does the current environment is that? Is it causing
you to think it's time to get into the market
(29:22):
now because the interest rate's about to fall a bit further,
property might be getting a little bit more affordable. So
are you thinking now's the time I've got to start
giving this some serious thought because you may have just
taken your hands off the controls of the last few
years and thought, oh, I'm not getting in here. It
looks looks pretty looks pretty dire. But right now maybe
that's changing. It's twenty one minutes to five news talks,
(29:43):
he'd be so, let's welcome back to the Weekend Collective.
(30:08):
Got time flies when you're having fun. If you've got
any questions, we'd love to hear from you. Nicole Lewis
as my guest. She is the author of property quadrants.
She went from having property to having none, and she's
real rebuilt her property portfolio and life and she's doing
all right. I think anyway, what basically, what is stopping
you from getting into the property market now that interstrates
(30:33):
look like they're about to keep falling, because I think
from many people, we've been through COVID, we've been through
high interest rates, and probably a lot of people took
their hands off the control and went I'm out, I'm
not doing anything. But is now the time you really
need to reconsider that. I'd love to hear from you
on eight hundred and eighty ten eighty, because yeah, I was.
I mean, I should sort of be in a property
(30:55):
I've been talking about it. I host a property show
and you haven't brought up an investment property yet, Nicole.
Speaker 4 (31:00):
Let me let me get you to answer the own
question that what stops you buying a property now?
Speaker 2 (31:07):
I would say, to be honest, fear, And that's massive
fear about losing everything, about being that guy who wouldn't
you believe it, Old Tim Beverage, you know, and he
just brought it the wrong time and he just ruined
his life.
Speaker 3 (31:23):
There we go.
Speaker 2 (31:24):
That is honest. That's that's the reason I don't because
I think that I'll be the one who misses some
obvious sign and just ballses it up and that's life done.
Speaker 4 (31:34):
You know what, You're not the only one that thinks
like that. A lot of people think property is risky
and it's scary something. You know what they're doing.
Speaker 2 (31:39):
And the funny thing is I produce concerts and you know,
and the risks of those are significant, not life ruining,
but certainly you know, savings destroying. It's weird, isn't it.
Speaker 4 (31:51):
Our attitude to risk, well, attitude to risk is lack
of knowledge. So if people don't know anything about property,
of course they're reluctant to buy. So how can you
get more confident in your purchase?
Speaker 2 (32:04):
And as I say, it has the Property Show, it's ridiculous,
And I can tell lots of people. I can watch
things and go that's going to go. I'll watch. I mean,
the joke used to be or Hamilton's going to go
and Hamilton wentz and I just watched it go. But anyway, hey,
let's take some calls on that. What's the reason you're
not doing it? And maybe we can overcome it. Bruce Slow, Yeah, hi.
Speaker 3 (32:22):
Mamus, Bruce here. Thank you for talking to me. Interesting discussion.
Thank you yourself and Nicole. My question is this is
that I understand your multi income approach that you talked
about for rental returns. That's wonderful, and obviously it'll be
allow a capital purchase to start with. That's wonderful. But
then surely once you've done the ten year bright line
test and you then go to resell the property after
(32:43):
ten years plus or the rental market, it's not the
return going to be a lot lower than if you
bought an individual property with us obviously a little bit
more to start with. I just wanted to have that
question for Nicle please.
Speaker 4 (32:56):
Really it depends where you buy your property to be fair,
I mean, you're always going to have Auckland, for example,
that will appreciate more than probably in Forkargole.
Speaker 3 (33:04):
I'm really referring to based in organomics and that's what
I am familiar with you. Yeah.
Speaker 4 (33:08):
Yes, So if you buy a rental property or a
multi income in Auckland, it'll still appreciate it. If you
buy it somewhere out of Auckland, it will still go
up but.
Speaker 2 (33:17):
Not as much.
Speaker 3 (33:20):
Okay, So you're suggesting to me that if you buy,
obviously you spend a lot less and start through your
multi income. That's great. But you're saying to me that
when you sell after ten years, brightline, you're going to
give a significant larger return on investment than if you
board were.
Speaker 2 (33:35):
Talking about ten years Brightline. There is where I'm out
with it's two two years.
Speaker 3 (33:39):
Oh you sorry too, I mean I'm just referring to
my own situation. Yeah, you held for ten Yeah, that's right. Yeah.
Speaker 4 (33:47):
Look, here's what i'd say, as I'd say that planning
your property portfolio depends on what your goals are. Whether
people want to buy for income in that case, you
want your multi units, and then of course you have
a specific amount you can borrow up to. So if
you can only borrow a small amount, you need to
look out made of Auckland to get something. If you
(34:07):
can borrow a larger amount, of course you can buy
in Auckland. But either way, it's good to have a
diverse portfolio.
Speaker 3 (34:13):
Okay, So diversit your portfolio. That answers my question, thank
you very much. So that, obviously, if you're looking for
a high return versus income return versus capital gain. Yeah,
you're in a mixed up portfolio.
Speaker 2 (34:25):
Thanks Bruce. It's funny. I was pondering, I've got a
Richard who caught spoke before, just texted saying, Tim Richard here,
just buy one take the plunge. Yes, but actually I
think I was thinking about it and we were having
a chat in the break and it's all about, well, first,
you know, you need to work out what you can borrow.
You need to have a chat with your bank, have
a chat with a mortgage broker. And I think probably
(34:46):
it is about taking steps to give yourself information to
realize that, oh oh so this was what it would
look like. Because until you take steps and have you're
just going you're wandering around like a you know, someone
in the dark.
Speaker 4 (35:00):
Can't you look talk to people? It's in property, talk
to property investors, talk to people of the got big
portfolio is probably people are awesome. They're so happy to
give advice and genuinely help, and you always want to
talk to people who know what they're doing.
Speaker 2 (35:12):
Okay, let's take another call. Kelly. Hi, Kelly, Hello, Kelly.
Speaker 5 (35:18):
Hiber How are you good.
Speaker 2 (35:19):
Thanks?
Speaker 5 (35:21):
So Tom, I'm coming from the angle that hon a
bit like you fear. I guess fear has stopped me.
So my situation is that I have equity, very lucky
to have equity in my home. How we've I'm like
singles with two teenage older teenage k and I've been
(35:43):
thinking a long time of you know, for a long
time about buying there, about getting a rental. You're actually
doing something with that equity. But yeah, it's just that's here,
I guess, of doing it on my own.
Speaker 2 (35:56):
And what if what would change? What would what would
help you change your mind? Would it be taking baby
steps and getting info? What can you borrow? What's it mean?
What's the what would help you?
Speaker 5 (36:07):
Yeah, I guess how much I could borrow? It's interesting
the center of this conversation with Oche. So I'd be
looking probably more out of Auckland, start off with a
smaller I guess, looking out of Auckland with a higher
yield potentially, But yeah, I guess it's taking that step
of actually doing it.
Speaker 2 (36:26):
I actually felt quite liberated telling but being honest for
the first time, saying I'm actually just afraid of it, and.
Speaker 4 (36:31):
Don't forget it cost you nothing to talk to someone
as schedule with me. I talk to people. I do
thirty minute schedule properly. Calls for nothing. Talk to me,
Oh I'll help you out. Go and talk to a broker,
find out what you can borrow. It cost you nothing
to ask.
Speaker 5 (36:48):
Okay, sure, yeah, no, I think I'm going to actually
go down that path. Now that's given me a bit
of confidence.
Speaker 2 (36:52):
Good on you, and I think you know what, Kelly,
You've also called a national radio station News Talks. The'd
be nationwide and you've talked about it on air. I
think talking about your plans is also a really good
way to start fulfilling them. Anyway, we'll be back and
just to tack with the one roof Property of the week,
it is ten and a half minutes to five. Yes,
News Talks there, b I'm Tim Beverage. My guest is
Nicole Lewis it is that time of the day. It's
(37:13):
seven minutes to five, the.
Speaker 1 (37:16):
One roof property of the week on the weekend collective.
Speaker 2 (37:20):
Now, I did tease this before something you might want
to check out, and I would absolutely recommend it. It is.
I think it is actually probably the most interesting looking
and appealing house I've looked at that if I had
the money, I'd be like, honey, let's go and check
this out. It is eighty seven Rutherford Drive. Why can't
(37:41):
I beach Carpety Coast. It's the thing that stood out
to me is this amazing swimming pool they've got at
the front of it. It's a single level home with
five bedrooms and six bathrooms and as the words are
used incomparable, it's unobstructed sea views across Carpety Island to
(38:01):
the South Island, one and a half hectares with over
five hundred square meters of Hampton style charm and luxury.
I'm always amused by houses that have a swimming pool
when they live next to the beach. But the swimming
pool is absolutely magnificent and Nicole, you've had a look
at it, an't Jill? What do you make of it?
Speaker 7 (38:19):
Yeah?
Speaker 4 (38:19):
No, I love it. And friends of ours actually have
just built and woken ice. I'm very familiar with that
beautiful house. But maybe I could buy it.
Speaker 2 (38:26):
Look, I'll tell you what you should buy it, and
then just say, Timmy, you're looking for a weekend place
to go with the family, Okay.
Speaker 4 (38:31):
And you can go and check it out.
Speaker 2 (38:33):
Happily, that swimming pool is stunning.
Speaker 4 (38:37):
Isn't it a beautiful house?
Speaker 2 (38:38):
So you should go and check it out. Now I'm
looking down at the views. It does look like it's
got a mini golf course in front of it in
terms of grassed over dunes. But the beat, I mean
it is a beautiful I don't know how you describe it,
but the way it flows from the inside of the outside.
In fact, the timber on the deck, it does seem
(38:59):
that the timber on the deck even flows straight into
the kitchen and the living room. So it's got that
absolute beach field. I should tell you the price, but
don't let it put you off going to have a look.
It's estimate estimate is three point nine to five million, which,
ak that is a lot of money for most people,
(39:20):
But in terms of a beach property of that caliber,
I would think that it's actually possibly not bad buying.
Speaker 4 (39:28):
Isn't it pretty reasonable? Actually?
Speaker 2 (39:29):
Yeah so? And there's even a separate, semi self contained
two bedroom guess pavilion. Oh That's where I'm going to
stay when I visit. Anyway, go and check it out.
Go to the one Roof website and or you can
just google eighty seven rather than drive. Why can't I
beach carpety coast And there are truckloads and photos and
(39:51):
it's just like as I say, every time, taking a
taking around holiday mind you. And the bathroom by the way,
oh my goodness. I don't think you'd ever leave except
maybe go for a swim in that wonderful paul out
the front, which look absolutely colossal with a barbecue area
built in sort of sunken next to the pool. So anyway, well,
(40:12):
I could think it was if somebody did splash, it
might get a bit of water on your sausages, but
that would be about it. Anyway. What are you doing
for the rest of labour week in Nicole?
Speaker 4 (40:21):
Very good question. I'm going to go look for property.
Speaker 2 (40:24):
Oh there you go. And if people want to get
hold of your advice or they want to get property
Quadrants is the book you've got out.
Speaker 4 (40:31):
Property Quadrants is the book. It's in bookstores, it's online,
and my website is the Property Lofestyle. People want to
talk property, they can always book a call with me
and we can talk property anytime.
Speaker 2 (40:41):
That's Nicole or that's Nicole with an h the property
lifestyle dot.
Speaker 4 (40:45):
Co dot indeed, oh no, it's not. It's dot com,
dot com, dot com.
Speaker 2 (40:48):
I'm sure they'll find it anyway. That generally doesn't stop
people tracking people down anyway. Thanks so much, good to
see Nicole, and we'll be back shortly with the Parents
Squad and with davet. Concon'll be joining us in just
a moment. News Talk z B.
Speaker 1 (41:12):
For more from the weekend collective. Listen live to News
Talks it be weekends from three pm, or follow the
podcast on iHeartRadio
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