September 7, 2024 • 40 mins
Real estate agents are reporting more attendees at open homes and auctions - and more developers.
Financial advisor Debbie Roberts joins Tyler Adams on The Weekend Collective to discuss.
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Speaker 1 (00:05):
You're listening to the Weekend Collective podcast from News talks'b ay.
Speaker 2 (00:10):
Very very good afternoon to you Tyler Adamson for Tim
Beverage on the Weekend Collector and it is signed for
the One Roof radio show. Debbie Roberts is a financial
advisor at Property Apprentice and joins us in the studio.
Speaker 3 (00:23):
Hey you, Debbie, hiy, nice to meet you.
Speaker 2 (00:25):
Yeah, nice to meet you as well as you Saturda
afternoon gone. Oh pretty good, pretty good, that's good. It's good.
You've got you quite busy this time of the year.
I know you're always busy, Debbie, but things seem to
be getting a bit more heat into the market at
the moment.
Speaker 3 (00:39):
There certainly seems to be a lot more urgency in
the last couple of months than we've seen for the
last couple of years.
Speaker 4 (00:46):
Yeah.
Speaker 2 (00:46):
Do you put that down to the Reserve Bank now?
Once they started to cut that rate a bit, more
optimism in the market, and then people are thinking, right,
we've got to move now.
Speaker 4 (00:55):
Yeah.
Speaker 3 (00:56):
I think there were quite a few people that were
probably sitting on the fence waiting for assign that interest
rates we're going to drop on the mortgages and I
think that Reserve Bank decision absolutely has put a bit
of speedback into the property market as well. We're certainly
seeing a lot of more interest still a lot of
people sitting on the fence wondering whether it's a good
(01:16):
time to buy or not. That it's interesting.
Speaker 2 (01:18):
The banks certainly move fast, didn't they That was a
great thing, but almost instantly, and that competition great thing.
They were challenging each other and still I think are
challenging each other to provide the best rate possible. Do
you think that's going to continue for the next six months.
Speaker 3 (01:33):
I would expect it to absolutely. You know, banks make
money by lending money, and things have been pretty slim
pickings for the last couple of years. So yeah, I
think that we will see quite a bit of competition
amongst banks on interest rates, especially if interest rates continue
to come down, you know, if the Reserve Bank continues to.
Speaker 2 (01:50):
Reduce that is music to a lot of people's ears.
I'm sure right. If you've got a question for Debbie,
now is your opportunity, oh, eight hundred and eighty ten eighty.
You can also text in your question nine two nine two.
If you want to email, you can do that Tyler
at newstalk zb dot co dot nz. Let's have a
chat about an interesting article from Calvin Davidson on more
people at open homes and auctions also an increase of
(02:15):
developers getting back into the market. Have you seen that
or do you think there is a lot of accuracy
there that people who have their homes on the market
they are seeing that increasing traffic coming through in the
open homes now, because it was fair to say over
the past twelve months, right those open homes were quite
often you know, ghost towns is they might have only
(02:36):
had one or two people through. Now we're starting to
see the double digits come back.
Speaker 3 (02:40):
That's exactly right, and I think probably in some parts
of New Zealand more than others, but we're certainly seeing
that in Auckland. One of the things that we've noticed
because we run free training sessions online each week, so
we get people logging into those free training sessions from
right across the country and we've certainly seen an increase
(03:02):
in the number of people that are looking to learn
about proper investing. So it's not surprising that realistic agents
are also seeing more people coming through open homes as well.
I think people are out there looking, even if they're
not quite ready to take action just yet.
Speaker 2 (03:19):
Just on the question of auctions, coming back to the
fore and more people putting their homes on the market
and going down the root of an auction, what actually
happens when there is a bit of a downturn and
people don't want to take it to auction and rather
do deadline. That must be a bit of a k
not for the real estate companies, because I've got these
big auction rooms and auctioneers that now no longer have work, right.
Speaker 3 (03:40):
Yeah, I mean, my personal opinion is that auctions are
a pretty good marketing strategy. I'm not a realistic agent,
but I think they are quite a good marketing strategy
because it basically means that the people that are looking
at selling their house, they're dealing with the cash unconditional
buyers first, and then even if the property doesn't sell
on auction day, quite often they do sell pretty close afterwards,
(04:03):
you know, because a lot of times, especially for first
home buyers, they don't like auctions because they don't know
how much a property's worth until it's gone masking price.
So you know, quite often even those first time buyers
will be in the room, watching to see what happens
and then be ready to make them move afterwards.
Speaker 2 (04:22):
And they are daunting places for a first time, aren't they?
Speaker 3 (04:24):
Absolutely? Yeah, more daunting for property investors, I would suspect,
I bet.
Speaker 2 (04:30):
What are your top tips? Just you know, if you're
a first home buyer or someone that's never been to
an auction before, and primarily that is first home buyers,
what would be your top three tips to them before
they hit it?
Speaker 3 (04:40):
My top three tips would be to make sure that
you've done all of your due diligence on that property
before you set foot in the auction room, just in
case you do get brave enough to put your hand up.
The second thing. Second thing would better absolutely know what
your top dollar is and and ask yourself, you know,
if it's sold for one thousand dollars more, would you
(05:01):
be okay with that?
Speaker 4 (05:02):
You know?
Speaker 3 (05:03):
So just make sure that is your absolute top and
obviously have your finance pre approved for that specific property.
Just because you've got a prey approval for lending does
not mean that the bank will lend you that amount
of money on any old property, So you have to
get it confirmed for the specific one that you're bidding.
Speaker 2 (05:22):
On very good Again, if you've got a question for Debbie,
get on the phones now. Oh eight hundred eighty ten
eighty and the texts are already coming through. If you
want to X through, the number is nine two, nine
to two. This text are ass high in DEBBI. Considering
the market upturn at the moment, what does it mean
for landlords with available tendancy in terms of increase or
decrease in rental demands?
Speaker 3 (05:44):
Oh, that's a really good question. It's something that I
haven't actually looked at the recent stats for but I
would suggest that there are still a number of places
around the country where there's a shortage of rental properties.
You know, look at the number of people that are
on emergency waiting list for housing. So you know, we
do need more landlords in this country, not less. So Yeah,
(06:05):
I think as long as you've got the right sort
of property for the area, you need to make sure
when you're looking at purchasing an investment that there is
demand for that type of property from tenants. You know,
like in some areas there's too many two bedroom houses,
whereas tenants could be looking for four or five be
dream houses and vice versa. In different parts of the
(06:27):
country as well.
Speaker 2 (06:29):
Yep, fantastic. I mean, just on the question if you
there's someone out there and they're looking to rent out
a property and they're becoming a first time landlord. Maybe
in terms of getting advice, I mean, is it a
good idea to chat to a property management company. There's
quite a few bits and pieces you need to get
lined up if you're going to get a property ready
for rental.
Speaker 3 (06:47):
Right, Absolutely, you need to make sure that it meets
healthy home standards. So my opinion, life is too short
to manage your own rental properties, so pay a professional
to do it for you, unless you're prepared to put
in the legwork that's required to do it properly. So yeah,
if you don't have the time or the inclination, then
(07:08):
absolutely find a good property manager to do that for you,
because it's important that you get it right. The penalties
are quite expensive.
Speaker 2 (07:15):
Yeah, fantastic this question from Reuben, it's a two parter, Hi, Debbie.
We are about to refix a good chunk of our
mortgage and considering the movement on interest rates across the board,
are we wise to allow it to float in the
interim and see what happens over the next six months.
(07:35):
The second part is, with the increased competition of the
banking sector, can we get a deal where they give
us some money? I think they're talking about the cash bonus,
give us a cash bonus when we sign on with them.
Speaker 3 (07:52):
Yeah, so, if you're refinancing from one bank to another bank,
then quite often you will get a cash back deal
on that. It's not very often that we would hear
about a bank that you've been with giving you a
cash back deal just for refixing your interest rate. That
doesn't tend to happen unless you've got a really good reason. Yep,
(08:12):
excuse me, frog and my throat. I'll just turn my
mic off while I cough.
Speaker 2 (08:20):
Very good, you did that very well.
Speaker 3 (08:23):
My moments, Yeah, what were we talking about? Lost my
train of thought?
Speaker 2 (08:28):
Now, well, let's start with the first part of that question.
Is it wise they're looking or they're about to refix
a good chunk of their mortgage by the sound of it,
and they are asking whether it's wise to float in
the interim with so much movement in the market. Is
that a wise strategy?
Speaker 3 (08:42):
I think it depends on your overall position. So I
would seriously suggest that you talk to a mortgage advisor
about it. Don't just go directly to your bank. You know,
a mortgage advisor can look at all the different options
for you, whether that means refinancing. Sometimes you might not
want to refinance because you might end up with break
fees and all that sort of things as well, which
(09:03):
need to be taken into account. But the floating interest
rates are still quite a bit higher than the fixed rates,
so I think it would be a toss up between
whether or not you are okay paying the higher interest
rate for the next little while, or whether you want
to fix part of your mortgage for six months and
then revisit it in six months from now.
Speaker 2 (09:23):
Yeah, very good. This is an interesting text that's come
through from rob Retention payments by a bank are becoming
more and more common, Is that right. I've never heard
that phrase before, retention payments. I imagine that's just for
the big players. DeBie that if you've got quite a
sizable amount of money or mortgage with a particular bank,
then you've got more leverage to say, hey, unless you
(09:45):
give me a good deal, I'm going to shoot off
and take my money elsewhere.
Speaker 3 (09:49):
I think this is one of the benefits with working
with a mortgage advisor because you know they are in
a strong position to negotiate on your behalf. So you know,
if you offered a cash back deal from one bank,
then potentially they might be able to get the bank
to give you an incentive to stay with them. So yeah,
I think it's it's worth asking. It's worth asking.
Speaker 2 (10:12):
Fantastic, Hi, guys, my parents are at the other end
of their housing journey. They are in their late seventies
and they own their own home. They are now looking
at a reverse mortgage. Is their asset rich cash poor?
What is the advice around reverse mortgages and the considerations?
Speaker 3 (10:30):
My personal opinion is that reserve the reverse mortgages. I
think they're great for certain situations, you know, because what's
the alternative downsizing your home, you know, so you get
to stay living in the asset. The reverse mortgages, at
least my understanding of them, it's not a specialty area
of mine. But the reserve mortgages, you can you know,
(10:54):
they don't go over a certain amount, so you're never
going to be in a negative equity position with them.
So yeah, I think they definitely serve a good.
Speaker 2 (11:03):
Purpose those those who aren't familiar with reverse mortgages. Effectively,
you were using the equity in your home as collateral, right,
you know, which makes sense because the other way is
that you are borrowing money from the bank to purchase
a property.
Speaker 3 (11:18):
This is the other way around, absolutely, So what it
is is basically, you know, for people who are already retired,
they don't have the provable income anymore, which means that
it's hard for them to get lending from a bank.
So quite often what we find is that people who
are retired, they're what we call asset rich but cash poor.
(11:39):
You know, they've owned the home for thirty years or more,
mortgage free on their home a lot of time, but
they don't have the income and they haven't probably haven't
been in key we save long enough to have actually
reaped the rewards from that either. So, yeah, being able
to get lending to free up some cash because you
don't have to pay the mortgage on the reverse mortgages,
(12:01):
it you know, all gets taken out in the wash
at the end of your life.
Speaker 2 (12:05):
Yeah, And like a lot of these think, yeah, that's right,
and like a lot of these things, DEBI imagine it's
important to get a financial advisor, indeed a lawyer to
look over those contracts before you sign on the dotted line.
Speaker 3 (12:16):
Absolutely, yeah, definitely right.
Speaker 2 (12:19):
Another text question here, Hi, DEBI, my property manager is
telling me to lower rent, but if it's a healthy market,
is just being lazy?
Speaker 3 (12:27):
I think it depends on the market that you're in,
to be honest, And you know, my opinion on this
is that it's better to have a tenant in place
than to have an empty house waiting for an extra
ten bucks a week in that so because it doesn't
take long for just ten or twenty dollars a week
to really add up in that vacancy. So yeah, our
(12:51):
advice is alway been bums and seats.
Speaker 2 (12:54):
Yeah, that good advice, just on the property manager side
of things, that if you are renting your home out
for the first time and you're a bit nervous about it,
and the property manager there you're getting them in for
the experts, say they're healthy homes, making sure it's up
to code, all that sort of thing, that you're in
line with the legislation. Who's liable if they get that wrong?
Would that come? I mean surely part of the dealers
(13:15):
when they come in as a professional that they take
that liability on them.
Speaker 3 (13:19):
They do as long as you've been completely honest with
them as well, so you know, it is their responsibility
as the property manager. They are effectively the landlord in
that situation. So yeah, you are the owner of the property,
so you need to make sure that everything ticks the
boxes where it's supposed to, but it is the property
manager's responsibility to look after it and make sure that
(13:40):
they're holding up their end of the bargain.
Speaker 2 (13:43):
That's great. If you've got a question for Debbie, now
is your opportunity. Oh, eight hundred and eighty ten eighty
is the number to call. Steve, how are you doing?
Speaker 4 (13:51):
Yeah? Very good, look at your question for you, because
you know what, you seem to be very focused on
lowering us rate and that's solely kicking off the market again,
which I don't think is the because I think we're
in a situation where we've got a very static population. Now,
we haven't got the The immigration numbers are very low,
(14:14):
aren't they. If anything, the country is losing people now
as opposed to building the population and getting more people
in the country. You know, traditionally, when the housing market
has gone well, we've had hundreds thousands, you know, one
hundred thousand people coming into the country each year, haven't
(14:34):
we into a And that's really turbo boosted, you know,
the housing market because it's created that demand right and
supply hasn't traditionally been there because we haven't done a
lot of high density. What we're seeing now in Auckland
is low immigration right where I think it's very static
at the moment. You got more people leaving and the
(14:56):
supply has come on very very quickly now because of
the unitary plan and the high density rule.
Speaker 2 (15:06):
I mean that is fair Steve and Twu jump in here,
But migration levels have started to soften, haven't they. Granted
they were at record highs over the last couple of
years and they have come back a little bit. I mean,
has Steve've got a point there that that does play
a part in the uptick in the property market at
the moment now.
Speaker 3 (15:23):
I think that the interest rates has caused an increase
in demand, but what we're also seeing, which is balancing
it out, is that there's been an increase in listings,
so increased numbers of sales, but also increased number of
listings because I think people who have been sitting on
their property waiting for the market to show signs of life,
(15:44):
you know, before they list their property for sale. So yeah,
we're seeing quite a balanced market at the moment. Otherwise,
you know, if we had more people entering the property
market and a reduced amount of supply, that's when we
see property prices increasing. So I think things are quite
balanced at the moment, which is great. You know, in
my opinion, it's a really good time to be out
(16:05):
of the house hunting because it's still not a feeding frenzy.
You know, you've got the opportunity to get yourself a
good deal, plenty of properties to pick from, you know,
so you don't you don't have to feel any pressure
when it comes to buying. So yeah, some good deals
to be had out there, and essentially at some stage
the property market will increase in value again.
Speaker 2 (16:26):
Yeah, and it's a confidence thing as well, isn't it, Steve.
You know, if you're looking to say your house and
you've been holding back and then all of a sudden
you see the sale signs on your street, I mean
clearly you're going to be thinking, oh, now it might
be a good time for us to put ours on
the market too.
Speaker 4 (16:39):
Not really. The confidences only got it got confidence are
short lived. The confidence of that mood, you've got structural issues,
which I'm afraid that no matter how much you can
have all the hope in the world, it's not going
to change the fact that we're having New Zealand. New
Zealand generally doesn't do well. We don't generally do well
on our own In other words, we don't generally do
a lot of good business when we haven't got people
(17:01):
pouring into the country and getting that sugar hit when
it static, we just don't. We just sit around and
there's some malays and that's what's happening at the moment.
And I don't know, I'm worried about this malaise because
I think it's going to be long term.
Speaker 2 (17:12):
We'll just quickly looking at the figures on migration, Steve,
and I don't think there's much to worry about there,
as they were at record levels the last couple of years,
and yes they've come down a little bit, but they
are still as high as they've ever been. And I'm
looking at a graph from twenty and one to twenty
twenty four, so I don't think we need to worry
too much at this stage. But thanks very much for
ringing through. If you've got a question comment thought more
(17:34):
than welcome to join the conversation. Oh, eight hundred and
eighty ten eighty is the number to call. You can
tex through on nine to nine two. We've got to
take a quick break. But were we bank with the
one roof radio show and Debbie Roberts financial Advisor. Very
surely it is twenty four past four News Talks ABB
You are listening to the Weekend Collective and the One
roof Radio show. Our experting guest is Debbie Roberts, financial
(17:57):
advisor at Property Apprentice. She's got great music, tastes tired,
doesn't she, Debbie, Yes she does.
Speaker 4 (18:03):
She does.
Speaker 2 (18:04):
Fantastic song, fantastic song Tirah right now. If you've got
a question for Debbie, eight hundred and eighty ten eighty
is the number to call. This is a great question
that's just come through via text Debbie. See, as we're
looking at selling our home, do fees differed between the
agents within a company? Ie? Is it likely to be
different from one hardcourt agent to another other than meeting
(18:24):
with a couple from different companies? How can I tell
who charges what, what, the extras they might tack on
to their fees, et cetera, marketing costs. I feel bad
meeting with multiple agents. Also, don't want to get stuck
with the first one we meet. All info and experience appreciated, Debbie.
Speaker 3 (18:42):
Oh, that is such a good question.
Speaker 2 (18:44):
Yes it so.
Speaker 3 (18:45):
Here's the thing. If you were a realisted agent, I
don't think that you would feel offended if you thought
that the person who was thinking of selling their house
was checking out with a whole bunch of other realistic agents.
They're used to, this is what they do. So absolutely
I would suggest have a look at all the different
realistic agents in your area and pick one agent from
(19:09):
each office that you feel good about, someone that you
think you could work with. Doesn't necessarily have to be
the best agent. Could be a new agent that's really enthusiastic,
but yeah, absolutely get one. You talk to an agent
from each of the companies and just make sure that
when they give you an estimate for how much they
(19:29):
think your house could sell for, make sure that they've
got some statistics to back that up. You don't want
them to just be buying your listing by telling you
that they'll be able to get you a price that's unrealistic,
you know, just to get you excited and then bring
you back down to reality with a thud after the
first open home.
Speaker 2 (19:47):
Great advice shop around. Hi, Debbie, we are looking at
getting a rental property. This place in particular checks all
the boxes except being on the main road. It's a
small town approximately fifteen thousand people, so it wouldn't be
that busy. It has a fairly big section in trees
fence blocking it from the road. Would you hesitate about
buying a rental property on the main street?
Speaker 3 (20:08):
I tell you what would make me hesitate about that
one was that there was absolutely no mention about the
rental return. So as an investment, it's all about the
potential in the property. What can you do to add
value to it? What sort of rental return is it?
Like Paul and I have owned property on a main
road and it hasn't given us any major issues, and
(20:32):
same with we've owned properties down quiet streets. So I
think you know, if it is on a busy road,
some people will be put off, some won't.
Speaker 2 (20:41):
Yep, fantastic. There's some great questions coming through on nine
two nine two. If you've got a question. That is
the text number, but you can also call us. So
e one hundred and eighty ten eighty is the number
to call and if you want to email, that's fine
as well. Tyler at Newstalk zb dot co dot nz.
Another crack question here, Hi Debbie, we are wanting to
upgrade our home. Unfortunately, lending position means we would need
(21:04):
to tell our place to fund what we want to
get into. Already know our lending position with the bank,
can know exactly what's possible. We are considering listening our
place to sell, then look to buy once sold, or
at least be in a position to make a real
office subject to sale of our place. We know the
obvious risks if we sell, Can we find the place
we want in time line up set on when dates, etc.
(21:26):
Or is the risk too much in that scenario? Advice?
Speaker 3 (21:29):
Please, have you spoken to a mortgage advisor about potentially
getting some bridging finance just in case you find the
home that you fall in love with that you don't
want to run the risk of missing out on by
having a conditional on the sale of your current property. Yeah,
if you can sell your home first, that puts you
in a stronger position for negotiating. But obviously then you
(21:52):
run the risk that you might not find the house
that you want to move into. So not an easy
question to answer, But I would start by talking to
a mortgage advisor and asking them if you can get
bridging finance if you needed it.
Speaker 2 (22:06):
Yeah, fantastic. Just talk about getting your home ready for
market and the increase in people coming through in the
open home. What is it that buyers do you think
look for when they venture into a property to inspect it?
I mean, are we talking of the basics here that
you want to make sure the paint work looks great,
the carpets are in good condition, or are there little
tips and tricks that you need to know about to
(22:29):
to you know, I suppose increase the odds of them
buying your property. You know, the old trick of baking
bread hours before the open home? Is their truth in that?
Speaker 3 (22:36):
I think there is. You know a lot of people
do put on coffee, you know, to make it make
the house smell inviting, you know, flowers, fresh flowers, all
that sort of stuff. I know, certainly when Paul and
I were flipping properties, we would make sure that we
got there bright and nearly opened up all the doors
and windows to let some fresh air in and turn
(22:58):
lights on in every room, you know. So you know,
real estate agents do all these things as well. I
think when people go looking at open homes, it depends
on what they're looking for. You know, a home buyer
will look at a property completely differently from how a
property investor will look. So you know, a home buyer
will walk into a property and potentially be put off
(23:19):
if it needs to have a lot of work done
because they are probably going to be especially if they're
first home buyers. They might be using every last dollar
just to fund a deposit on their property, whereas a
property investor might look at something that needs a bit
of work and see that as an opportunity to add value.
So yeah, I think everyone is different. Yeah, and it'll
(23:41):
depend on whether they're upgrading their home or There's so
many different variables there, there's just not really one size
fits all. But I think like my husband, for example,
every single time he goes and has look at a property,
he pulls out his tape measure. He's got a tape
measure that he carries in his car with him at
all times, just in case and it's a torch, so
(24:04):
it's like, you know, he looked that things like he'll
he's an ex electrician, so maybe this is where that
comes from. But he'll crawl under the roofs, under the
floor space just to have a look and see if
there's any signs of water under there, you know, like
damp wood in the floorboards, all that sort of stuff.
He crawls under and he's a good old fish around.
I'm not the slightest, but inclined to do that.
Speaker 2 (24:26):
Clever guy. I'll tell you what we were looking at,
and this was both me and my partner where we're adamant.
This was kind of at the top of the lesson.
It's going to sound weird, but we were big on
the water pressure. So we tested every shower that we
went into and we got some funny looks. Actually when
we walked in straight to the shower, crank the shower on,
even from the agency. What are you turning the shower
on for? Just checking the pressure? Yeah, you know, if
(24:47):
the pressure isn't great, we're out. We're out.
Speaker 3 (24:50):
That's absolutely something that Paul and I do if it's
a property that we're going to be living in. Yeah,
because we like good water pressure as well.
Speaker 2 (24:57):
Absolutely right. If you've got to question for Debbie, now's
your opportunity. Oh eight one hundred eighty ten eighty. She's
only with us for another fifteen minutes, so get in
now we've got to take a break. It is twenty
six minutes to five bank fore shortly here on the
Weekend Collective. Welcome back into the Weekend Collective and you
(25:19):
are listening to the one roof radio show with our expert,
Debbie Roberts, financial advisor at Property Prentice. Thanks very much
again for your time, Debbie, thank you for having me.
If you want to have a chat with Debbi and
get some advice, now is your opportunity. O eight hundred
and eighty ten eighty is the number to call, and
let's go to the phones. Craig, how are you.
Speaker 5 (25:36):
Doing there, Tyler?
Speaker 6 (25:37):
How are you doing?
Speaker 2 (25:38):
I am very well, my friend. Now you've got a
doozy of a question for Debbie.
Speaker 5 (25:42):
Yeah, I do. Actually, I'm just about to come up
to refixing the mortgage. I was in at the bank
and had a meeting with him today because we're going
to be looking at purchasing a home. We've got a
four bedroom apartment Central City, christ Church, which is doing
very well for itself and making his money. But we're
(26:04):
wanting to buy our own home and my partner has
just he's just got his PR residency visa, so it
means that he can now take on and be part
of the mortgage. So we've got a lot of opportunities.
What do you suggest we do in relation to fixing?
(26:25):
Should we do a six months where you were thinking
a twelve month and have a lot of it?
Speaker 3 (26:30):
Then well, good question. So with the apartment, are you
planning on keeping the apartment or are you planning on
selling that to buy the.
Speaker 5 (26:38):
Home revenue it's a good revenue income, so it would
be differently kept, so.
Speaker 3 (26:43):
Kept as a rental okay. And do you own another
property already? No, we don't, okay, So this would be
buying your first home together. Yeah, okay, yes, yep. So
my advice would be to look at getting a loan
for the home with a different lender than the one
that you've got your rental property with. If you've got
a mortgage on that one. Split banking reduces your risk.
(27:07):
If you're talking directly to the bank, they are going
to want to tie everything up together, So yeah, I
would suggest it.
Speaker 5 (27:15):
Was quite interesting because the banking consultant did say keep
two separate mortgages.
Speaker 3 (27:20):
Yeah, so separate mortgages. My personal preference would be for
separate lenders completely.
Speaker 5 (27:27):
Oh, I hadn't thought of that, But that's so, that's
actually really good. I'm pleased I bought that up with you.
What do you think with the interest rate? Work it
for a six or a one year because I know
that it's stitting at six it's going to be six
point eight to five. Yeah, there's going to be the rate.
But going to one year they seed five point nine.
Speaker 3 (27:47):
Yes, So I mean it's a toss of a coin,
to be honest, because you know, nobody really knows exactly
what's going to happen with interest rates. But I suspect that,
especially if you're looking at purchasing a home, you can
stagger your expiry dates. So you might even consider splitting
the mortgage. It depends on the size of the mortgage
(28:08):
on the apartment, but you might have part of it
fixed for six months, part of it fixed for twelve months,
or just roll the dice and go for six months
and hope that in six months time it's lower than
what it is now.
Speaker 5 (28:21):
Yeah, that's what I was thinking. Yeah, well, thank you
very much for your advice. It's much appreciated and loving
the show.
Speaker 3 (28:27):
Dialer.
Speaker 2 (28:28):
Oh you came to the right place, Greg, and congrats maate. Exciting.
It's good to chet again because it's been a while,
so go well. Exciting times for you guys.
Speaker 5 (28:35):
It has been really exciting. The past three years have
been building everything and now we've got everything there. We
can now utilize what we've got. And you know, if
anyone's thinking about buying their own home, always go for
something if you can handle it. Go for something more
central to everywhere and have it available so that you
(28:58):
can rent out rooms because it's a no brainer. It
really is an absolute no brainer to get some income
comming them and investing in your own properties.
Speaker 2 (29:10):
Excitly, said Craig. Yep, fantasy. Now go well, make good
catch up again, Mike, you're on with Debbie.
Speaker 7 (29:19):
How are you good yourself?
Speaker 2 (29:21):
Good?
Speaker 4 (29:22):
Good?
Speaker 7 (29:23):
Good? Hey, I said a question of what I got
several rentals in Hamilton. One at the Mount. We're looking
at selling a two by two that we sort of
bottled out. We're going to sell it later this year,
but it feels like things are improving a bit. Where
do you think the rental expected rental returns to the
(29:44):
percentage of sitting at the moment's investors feel for that? Uh?
Speaker 3 (29:48):
What do you what do you mean, like, what what
sort of rental return investors are getting?
Speaker 7 (29:54):
Yeah, as you're indicating before the value of a rental
property as a function of it, how much rental turning?
And absolutely yeah, where do you think that's sitting?
Speaker 3 (30:05):
Hens on where you're looking and what types of properties.
I like to give you an example, new builds. If
it's just a townhouse, new builds are around the four
percent gross yield. If it's a duel key and you know,
a new build, then you can see them around six
percent gross yield. But we're seeing purchases with eight, nine,
(30:26):
ten percent gross yields in multi income stream so in
different parts of the country. Yeah, and I mean the
deals are there, you know, because there is some motivation
from some sellers. So you know, you are you are
in a position that you can negotiate some good purchase
prices and add value to the property to increase the
rental routine as well. So you know, a lot of
(30:49):
a lot of clients for example, that don't even you know,
don't even break a sweat getting above six percent gross yield.
Speaker 7 (30:57):
You're right, yeah, no, that's good. It's field. The things
are improving as good A ninth classic nineteen six. These
two to portfolio we luckily brought into fifteen to time
to catch up. Nice.
Speaker 3 (31:13):
Nice, yeah, because I think I think it is important
for anyone out there who's listening, who's thinking about investing,
is that even with interest rates coming down, you know,
six percent gross yield is not going to be enough
to cover the cost on owning that property, even if
it's on an interest only mortgage.
Speaker 4 (31:30):
You know.
Speaker 3 (31:31):
That's so the higher the rental return, the better. It's
all a game of finance these days.
Speaker 7 (31:37):
Yeah, yeah, yeah, And we know the market pretty well
and it was pretty igh watering into sixteen seen people
going at about four percent gross on older I think
you call them two key properties. But yeah, I'll be
thinking again about now.
Speaker 3 (31:51):
Thought a lot of we've seen a lot of financial
hardship from people who purchased new builds thinking that that
was the way to go, you know, because they still
had the interested actibility being a new build versusn't existing.
So yeah, glad to see some common sense coming back
into it and people learning a bit more about it
before they jump in boots and all.
Speaker 2 (32:10):
Yeah, thank you very much, Mike. You sound like you're
buzzing by the way, So congrats and exciting times ahead.
Speaker 4 (32:17):
Yeah, thank you, thanks Mike.
Speaker 2 (32:19):
Oh eight one hundred and eighty ten eighty is the
number to call. We'll get a few more minutes with Debbie.
So if you want to get in your bed to
get in quick. Some great texts coming through Debbie this one. Hi,
We've got a wee dilemma. We need to the property
we've got is a bit or we need to do
repairs before we sell, but we don't have the finance. Now,
(32:42):
some of the repairs are not major. What sort of
repairs do we really need to take care of before
getting it on the market, And they don't specify what
type of jobs need to be done, but if it's
anything on the bones of the property or anything that
looks unsightly, they are probably the jobs you need to
get sorted right.
Speaker 3 (33:01):
Yeah, I would suggest talking to your real estate agent
and ask them what they think could be your top priority,
because it might not be as bad as you think.
You know, especially in the current market where a lot
of buyers will be looking to add value to properties.
So you know, like I said, if it's an investor
that's looking at it, they might be quite excited about
(33:21):
the potential to add value to it through renovating it,
and it could save you some money in the meantime.
So instead having to do it yourself, So talk to
the real estate agent. Just make sure that any money
that you spend is actually going to increase the chances
of selling the property or increase the sale price.
Speaker 2 (33:38):
Yeah, very good this text. Or asked Mary Hi, I
wondered if Debbie had an opinion on a state agents
who will get your property up together and then you
settle up with them when sale is complete it I'll
just read that back again. I wondered if you, guess
had an opinion on a state agent's who will get
your property? Oh, get your property up to scratch and
(34:01):
then you settle up with them when the sale is completed.
I've never heard about that. Make it what the real
estate agent takes on the responsibility of getting your property
up to scratch and then once the house has sold,
you pay them for the work done.
Speaker 3 (34:13):
Yeah, So this is something that's quite common amongst property
traders or property flippers. They know they can be open
to doing that if they're not in a position to
buy the property outright and then add value to it
and then sell it. It is something that a number
of traders can look at doing for you. So you know,
that is absolutely a way to help get the better
(34:35):
sale price and then potentially split the profit with them.
If that was what the caller.
Speaker 2 (34:39):
Was meaning, Yeah, great, this is another great text. Hidbi,
I have some money but not enough to buy a
rental property. Are there ways of getting into one, like
a syndicate or some other way?
Speaker 7 (34:51):
Please?
Speaker 3 (34:52):
Oh gosh, there's a whole bunch of different things that
you can do. So yeah, there are property funds, which
is that it's buying a share in the property, so
to speak. So it's yeah, there's companies out there, mostly
with commercial property. I mean, my personal opinion on residential
(35:17):
property with shared ownership is that it's a little bit
complicated if you're not actually owning part of the property,
if you're just owning shares in a company that owns
the property. There's a few fishicks to look out for
in those sort of scenarios.
Speaker 2 (35:33):
So just on that. I mean, you mentioned most of
those properties or commercial properties, but I take it some
are residential. That must be quite a rare situation where
there's a company that owns the property then they bring
in investors so to speak. You put money in and
you've got to share it at home. How it's meant
to work, Yes.
Speaker 3 (35:50):
And I mean I'm not a huge fan of that.
On My personal opinion is, if you're going to invest
in property and you're a bit low on deposit, say
the bigger deposit. You know, if you've got equity in
another property, you don't have to have cash. You know,
a lot of people aren't aware of that, so you know,
if the caller had equity and another property, you might
(36:11):
be able to leverage off that to help boosters deposit.
Family and friends, Well, you can always hit up the
banker mom and dad if you're luckily enough to be
in that position.
Speaker 2 (36:20):
Absolutely, yeah, fantastic. Right, We've got to take a quick break,
but we have a few more minutes with Debbie after that.
So if you've got a burning question, now is your
opportunity and the last one for the Saturday, so you
better get in now. Oh eight hundred and eighty ten eighty.
It is eleven minutes to five. Back for you shortly
here on the Weekend Collective News Talks there b Welcome
(36:42):
Back into the Weekend Collective and the One Roof radio
show with Debbie Roberts, financial advisor at Property Apprentice. Quick
a couple of texts and then I think we've got
time for one more phone call. Hi, Hi, Debbie. We
are looking to refix our whole mortgage. It is our
first home, the first time we've had to refix. Does
(37:03):
it make sense to try and split the mortgage into
several parts? Our mortgage advisor is a bit hesitant on
that advice. Please.
Speaker 3 (37:12):
My opinion is it's a great time to be splitting
your mortgage, even if you fix it all for six months.
You know, if you split your mortgage up and fix
it all for six months, then at some point you
can decide to start fixing some for longer rather than
shorter terms without having to go through the whole loan
document documentation process again, say.
Speaker 2 (37:31):
Brilliant, fantastic, Right, We're going to squeeze mike and get
a mike. We've only got about forty seconds to go
for it.
Speaker 6 (37:37):
Okay, okay, cheers. Hey, listen. So I'm getting my property
ready for sale and had an agent around and asked
what I should do or what I shouldn't do. One
of the things we've got here is a poll and
it needed some It needs some repair. It needs me
to spend about ten grand on it to get it
up to top notch. She's saying to me, don't bother
(37:57):
about it. People don't care about polls, and I'm really
anti that. Well, sorry, I disagree with that, and I'm
wanting to give people an option at least for me
to finish the pool off or take it out.
Speaker 2 (38:12):
Great question. So to repair or not repair the pool, Debbie.
Speaker 3 (38:15):
I would use that as part of the negotiation. You knows,
ask potential buyers if you say you're willing to you're
willing to fix the pool if they want it to
be fixed.
Speaker 2 (38:25):
Yeah, great stuff, Thank you very much. Michael. Wish we
had more time, but we don't. It is six minutes
to five.
Speaker 4 (38:36):
Yes.
Speaker 2 (38:37):
The one roof property of the week this week is
a Doozy eleven Mahullan Drive, Jacks Point, Queens Down. The
auction is on the eighteenth of September. The estimate is
one point sixty nine million. The RV is one point
four to five million, three bedroom, two point five bathroom,
one car garage. This is a two level, three bedroom,
two and a half bathroom seed a home with a
dedicated office space. This property ensures a peaceful retreat situated
(39:00):
on four hundred and twenty seven square meter freehold site
with a one car garat in space for three more
in the driveway. But it's not only in a gorgeous location.
The home fits the aesthetics of its surroundings with a
beautiful hardow wood flooring, stone bench stomps, ducted heating throughout
the whole home, and heated flooring in both bathrooms. Jack's
(39:20):
Point in Queenstown is a beautiful location. Sounds like a
beautiful home, doesn't it, Debbie?
Speaker 3 (39:24):
It does? It looks pretty too.
Speaker 2 (39:26):
Yeah, absolutely right. That is all the time we've got
for Debbie. Thank you so much, lovely to chat and
lovely to meet you.
Speaker 3 (39:32):
Thank you, lovely to chat with you too.
Speaker 2 (39:35):
That is Debbie Roberts, financial advisor at Property Apprentice. Right
after five o'clock it is the parent Squad with Catherine Burkitt.
Get on the phones now if you've got any concerns, worries, questions,
advice for parents out there. Love to hear from you
on eight hundred and eighty ten eighty News, Sport and
Weather is on its way. It is four minutes to five.
(39:56):
We'll see you on the other side. A bit of
music to play our outs.
Speaker 1 (40:00):
For more from the weekend collective, listen live to News
Talk ZB weekends from three pm, or follow the podcast
on iHeartRadio.
You're listening to the Weekend Collective podcast from News talks'b ay.
Speaker 2 (00:10):
Very very good afternoon to you Tyler Adamson for Tim
Beverage on the Weekend Collector and it is signed for
the One Roof radio show. Debbie Roberts is a financial
advisor at Property Apprentice and joins us in the studio.
Speaker 3 (00:23):
Hey you, Debbie, hiy, nice to meet you.
Speaker 2 (00:25):
Yeah, nice to meet you as well as you Saturda
afternoon gone. Oh pretty good, pretty good, that's good. It's good.
You've got you quite busy this time of the year.
I know you're always busy, Debbie, but things seem to
be getting a bit more heat into the market at
the moment.
Speaker 3 (00:39):
There certainly seems to be a lot more urgency in
the last couple of months than we've seen for the
last couple of years.
Speaker 4 (00:46):
Yeah.
Speaker 2 (00:46):
Do you put that down to the Reserve Bank now?
Once they started to cut that rate a bit, more
optimism in the market, and then people are thinking, right,
we've got to move now.
Speaker 4 (00:55):
Yeah.
Speaker 3 (00:56):
I think there were quite a few people that were
probably sitting on the fence waiting for assign that interest
rates we're going to drop on the mortgages and I
think that Reserve Bank decision absolutely has put a bit
of speedback into the property market as well. We're certainly
seeing a lot of more interest still a lot of
people sitting on the fence wondering whether it's a good
(01:16):
time to buy or not. That it's interesting.
Speaker 2 (01:18):
The banks certainly move fast, didn't they That was a
great thing, but almost instantly, and that competition great thing.
They were challenging each other and still I think are
challenging each other to provide the best rate possible. Do
you think that's going to continue for the next six months.
Speaker 3 (01:33):
I would expect it to absolutely. You know, banks make
money by lending money, and things have been pretty slim
pickings for the last couple of years. So yeah, I
think that we will see quite a bit of competition
amongst banks on interest rates, especially if interest rates continue
to come down, you know, if the Reserve Bank continues to.
Speaker 2 (01:50):
Reduce that is music to a lot of people's ears.
I'm sure right. If you've got a question for Debbie,
now is your opportunity, oh, eight hundred and eighty ten eighty.
You can also text in your question nine two nine two.
If you want to email, you can do that Tyler
at newstalk zb dot co dot nz. Let's have a
chat about an interesting article from Calvin Davidson on more
people at open homes and auctions also an increase of
(02:15):
developers getting back into the market. Have you seen that
or do you think there is a lot of accuracy
there that people who have their homes on the market
they are seeing that increasing traffic coming through in the
open homes now, because it was fair to say over
the past twelve months, right those open homes were quite
often you know, ghost towns is they might have only
(02:36):
had one or two people through. Now we're starting to
see the double digits come back.
Speaker 3 (02:40):
That's exactly right, and I think probably in some parts
of New Zealand more than others, but we're certainly seeing
that in Auckland. One of the things that we've noticed
because we run free training sessions online each week, so
we get people logging into those free training sessions from
right across the country and we've certainly seen an increase
(03:02):
in the number of people that are looking to learn
about proper investing. So it's not surprising that realistic agents
are also seeing more people coming through open homes as well.
I think people are out there looking, even if they're
not quite ready to take action just yet.
Speaker 2 (03:19):
Just on the question of auctions, coming back to the
fore and more people putting their homes on the market
and going down the root of an auction, what actually
happens when there is a bit of a downturn and
people don't want to take it to auction and rather
do deadline. That must be a bit of a k
not for the real estate companies, because I've got these
big auction rooms and auctioneers that now no longer have work, right.
Speaker 3 (03:40):
Yeah, I mean, my personal opinion is that auctions are
a pretty good marketing strategy. I'm not a realistic agent,
but I think they are quite a good marketing strategy
because it basically means that the people that are looking
at selling their house, they're dealing with the cash unconditional
buyers first, and then even if the property doesn't sell
on auction day, quite often they do sell pretty close afterwards,
(04:03):
you know, because a lot of times, especially for first
home buyers, they don't like auctions because they don't know
how much a property's worth until it's gone masking price.
So you know, quite often even those first time buyers
will be in the room, watching to see what happens
and then be ready to make them move afterwards.
Speaker 2 (04:22):
And they are daunting places for a first time, aren't they?
Speaker 3 (04:24):
Absolutely? Yeah, more daunting for property investors, I would suspect,
I bet.
Speaker 2 (04:30):
What are your top tips? Just you know, if you're
a first home buyer or someone that's never been to
an auction before, and primarily that is first home buyers,
what would be your top three tips to them before
they hit it?
Speaker 3 (04:40):
My top three tips would be to make sure that
you've done all of your due diligence on that property
before you set foot in the auction room, just in
case you do get brave enough to put your hand up.
The second thing. Second thing would better absolutely know what
your top dollar is and and ask yourself, you know,
if it's sold for one thousand dollars more, would you
(05:01):
be okay with that?
Speaker 4 (05:02):
You know?
Speaker 3 (05:03):
So just make sure that is your absolute top and
obviously have your finance pre approved for that specific property.
Just because you've got a prey approval for lending does
not mean that the bank will lend you that amount
of money on any old property, So you have to
get it confirmed for the specific one that you're bidding.
Speaker 2 (05:22):
On very good Again, if you've got a question for Debbie,
get on the phones now. Oh eight hundred eighty ten
eighty and the texts are already coming through. If you
want to X through, the number is nine two, nine
to two. This text are ass high in DEBBI. Considering
the market upturn at the moment, what does it mean
for landlords with available tendancy in terms of increase or
decrease in rental demands?
Speaker 3 (05:44):
Oh, that's a really good question. It's something that I
haven't actually looked at the recent stats for but I
would suggest that there are still a number of places
around the country where there's a shortage of rental properties.
You know, look at the number of people that are
on emergency waiting list for housing. So you know, we
do need more landlords in this country, not less. So Yeah,
(06:05):
I think as long as you've got the right sort
of property for the area, you need to make sure
when you're looking at purchasing an investment that there is
demand for that type of property from tenants. You know,
like in some areas there's too many two bedroom houses,
whereas tenants could be looking for four or five be
dream houses and vice versa. In different parts of the
(06:27):
country as well.
Speaker 2 (06:29):
Yep, fantastic. I mean, just on the question if you
there's someone out there and they're looking to rent out
a property and they're becoming a first time landlord. Maybe
in terms of getting advice, I mean, is it a
good idea to chat to a property management company. There's
quite a few bits and pieces you need to get
lined up if you're going to get a property ready
for rental.
Speaker 3 (06:47):
Right, Absolutely, you need to make sure that it meets
healthy home standards. So my opinion, life is too short
to manage your own rental properties, so pay a professional
to do it for you, unless you're prepared to put
in the legwork that's required to do it properly. So yeah,
if you don't have the time or the inclination, then
(07:08):
absolutely find a good property manager to do that for you,
because it's important that you get it right. The penalties
are quite expensive.
Speaker 2 (07:15):
Yeah, fantastic this question from Reuben, it's a two parter, Hi, Debbie.
We are about to refix a good chunk of our
mortgage and considering the movement on interest rates across the board,
are we wise to allow it to float in the
interim and see what happens over the next six months.
(07:35):
The second part is, with the increased competition of the
banking sector, can we get a deal where they give
us some money? I think they're talking about the cash bonus,
give us a cash bonus when we sign on with them.
Speaker 3 (07:52):
Yeah, so, if you're refinancing from one bank to another bank,
then quite often you will get a cash back deal
on that. It's not very often that we would hear
about a bank that you've been with giving you a
cash back deal just for refixing your interest rate. That
doesn't tend to happen unless you've got a really good reason. Yep,
(08:12):
excuse me, frog and my throat. I'll just turn my
mic off while I cough.
Speaker 2 (08:20):
Very good, you did that very well.
Speaker 3 (08:23):
My moments, Yeah, what were we talking about? Lost my
train of thought?
Speaker 2 (08:28):
Now, well, let's start with the first part of that question.
Is it wise they're looking or they're about to refix
a good chunk of their mortgage by the sound of it,
and they are asking whether it's wise to float in
the interim with so much movement in the market. Is
that a wise strategy?
Speaker 3 (08:42):
I think it depends on your overall position. So I
would seriously suggest that you talk to a mortgage advisor
about it. Don't just go directly to your bank. You know,
a mortgage advisor can look at all the different options
for you, whether that means refinancing. Sometimes you might not
want to refinance because you might end up with break
fees and all that sort of things as well, which
(09:03):
need to be taken into account. But the floating interest
rates are still quite a bit higher than the fixed rates,
so I think it would be a toss up between
whether or not you are okay paying the higher interest
rate for the next little while, or whether you want
to fix part of your mortgage for six months and
then revisit it in six months from now.
Speaker 2 (09:23):
Yeah, very good. This is an interesting text that's come
through from rob Retention payments by a bank are becoming
more and more common, Is that right. I've never heard
that phrase before, retention payments. I imagine that's just for
the big players. DeBie that if you've got quite a
sizable amount of money or mortgage with a particular bank,
then you've got more leverage to say, hey, unless you
(09:45):
give me a good deal, I'm going to shoot off
and take my money elsewhere.
Speaker 3 (09:49):
I think this is one of the benefits with working
with a mortgage advisor because you know they are in
a strong position to negotiate on your behalf. So you know,
if you offered a cash back deal from one bank,
then potentially they might be able to get the bank
to give you an incentive to stay with them. So yeah,
I think it's it's worth asking. It's worth asking.
Speaker 2 (10:12):
Fantastic, Hi, guys, my parents are at the other end
of their housing journey. They are in their late seventies
and they own their own home. They are now looking
at a reverse mortgage. Is their asset rich cash poor?
What is the advice around reverse mortgages and the considerations?
Speaker 3 (10:30):
My personal opinion is that reserve the reverse mortgages. I
think they're great for certain situations, you know, because what's
the alternative downsizing your home, you know, so you get
to stay living in the asset. The reverse mortgages, at
least my understanding of them, it's not a specialty area
of mine. But the reserve mortgages, you can you know,
(10:54):
they don't go over a certain amount, so you're never
going to be in a negative equity position with them.
So yeah, I think they definitely serve a good.
Speaker 2 (11:03):
Purpose those those who aren't familiar with reverse mortgages. Effectively,
you were using the equity in your home as collateral, right,
you know, which makes sense because the other way is
that you are borrowing money from the bank to purchase
a property.
Speaker 3 (11:18):
This is the other way around, absolutely, So what it
is is basically, you know, for people who are already retired,
they don't have the provable income anymore, which means that
it's hard for them to get lending from a bank.
So quite often what we find is that people who
are retired, they're what we call asset rich but cash poor.
(11:39):
You know, they've owned the home for thirty years or more,
mortgage free on their home a lot of time, but
they don't have the income and they haven't probably haven't
been in key we save long enough to have actually
reaped the rewards from that either. So, yeah, being able
to get lending to free up some cash because you
don't have to pay the mortgage on the reverse mortgages,
(12:01):
it you know, all gets taken out in the wash
at the end of your life.
Speaker 2 (12:05):
Yeah, And like a lot of these think, yeah, that's right,
and like a lot of these things, DEBI imagine it's
important to get a financial advisor, indeed a lawyer to
look over those contracts before you sign on the dotted line.
Speaker 3 (12:16):
Absolutely, yeah, definitely right.
Speaker 2 (12:19):
Another text question here, Hi, DEBI, my property manager is
telling me to lower rent, but if it's a healthy market,
is just being lazy?
Speaker 3 (12:27):
I think it depends on the market that you're in,
to be honest, And you know, my opinion on this
is that it's better to have a tenant in place
than to have an empty house waiting for an extra
ten bucks a week in that so because it doesn't
take long for just ten or twenty dollars a week
to really add up in that vacancy. So yeah, our
(12:51):
advice is alway been bums and seats.
Speaker 2 (12:54):
Yeah, that good advice, just on the property manager side
of things, that if you are renting your home out
for the first time and you're a bit nervous about it,
and the property manager there you're getting them in for
the experts, say they're healthy homes, making sure it's up
to code, all that sort of thing, that you're in
line with the legislation. Who's liable if they get that wrong?
Would that come? I mean surely part of the dealers
(13:15):
when they come in as a professional that they take
that liability on them.
Speaker 3 (13:19):
They do as long as you've been completely honest with
them as well, so you know, it is their responsibility
as the property manager. They are effectively the landlord in
that situation. So yeah, you are the owner of the property,
so you need to make sure that everything ticks the
boxes where it's supposed to, but it is the property
manager's responsibility to look after it and make sure that
(13:40):
they're holding up their end of the bargain.
Speaker 2 (13:43):
That's great. If you've got a question for Debbie, now
is your opportunity. Oh, eight hundred and eighty ten eighty
is the number to call. Steve, how are you doing?
Speaker 4 (13:51):
Yeah? Very good, look at your question for you, because
you know what, you seem to be very focused on
lowering us rate and that's solely kicking off the market again,
which I don't think is the because I think we're
in a situation where we've got a very static population. Now,
we haven't got the The immigration numbers are very low,
(14:14):
aren't they. If anything, the country is losing people now
as opposed to building the population and getting more people
in the country. You know, traditionally, when the housing market
has gone well, we've had hundreds thousands, you know, one
hundred thousand people coming into the country each year, haven't
(14:34):
we into a And that's really turbo boosted, you know,
the housing market because it's created that demand right and
supply hasn't traditionally been there because we haven't done a
lot of high density. What we're seeing now in Auckland
is low immigration right where I think it's very static
at the moment. You got more people leaving and the
(14:56):
supply has come on very very quickly now because of
the unitary plan and the high density rule.
Speaker 2 (15:06):
I mean that is fair Steve and Twu jump in here,
But migration levels have started to soften, haven't they. Granted
they were at record highs over the last couple of
years and they have come back a little bit. I mean,
has Steve've got a point there that that does play
a part in the uptick in the property market at
the moment now.
Speaker 3 (15:23):
I think that the interest rates has caused an increase
in demand, but what we're also seeing, which is balancing
it out, is that there's been an increase in listings,
so increased numbers of sales, but also increased number of
listings because I think people who have been sitting on
their property waiting for the market to show signs of life,
(15:44):
you know, before they list their property for sale. So yeah,
we're seeing quite a balanced market at the moment. Otherwise,
you know, if we had more people entering the property
market and a reduced amount of supply, that's when we
see property prices increasing. So I think things are quite
balanced at the moment, which is great. You know, in
my opinion, it's a really good time to be out
(16:05):
of the house hunting because it's still not a feeding frenzy.
You know, you've got the opportunity to get yourself a
good deal, plenty of properties to pick from, you know,
so you don't you don't have to feel any pressure
when it comes to buying. So yeah, some good deals
to be had out there, and essentially at some stage
the property market will increase in value again.
Speaker 2 (16:26):
Yeah, and it's a confidence thing as well, isn't it, Steve.
You know, if you're looking to say your house and
you've been holding back and then all of a sudden
you see the sale signs on your street, I mean
clearly you're going to be thinking, oh, now it might
be a good time for us to put ours on
the market too.
Speaker 4 (16:39):
Not really. The confidences only got it got confidence are
short lived. The confidence of that mood, you've got structural issues,
which I'm afraid that no matter how much you can
have all the hope in the world, it's not going
to change the fact that we're having New Zealand. New
Zealand generally doesn't do well. We don't generally do well
on our own In other words, we don't generally do
a lot of good business when we haven't got people
(17:01):
pouring into the country and getting that sugar hit when
it static, we just don't. We just sit around and
there's some malays and that's what's happening at the moment.
And I don't know, I'm worried about this malaise because
I think it's going to be long term.
Speaker 2 (17:12):
We'll just quickly looking at the figures on migration, Steve,
and I don't think there's much to worry about there,
as they were at record levels the last couple of years,
and yes they've come down a little bit, but they
are still as high as they've ever been. And I'm
looking at a graph from twenty and one to twenty
twenty four, so I don't think we need to worry
too much at this stage. But thanks very much for
ringing through. If you've got a question comment thought more
(17:34):
than welcome to join the conversation. Oh, eight hundred and
eighty ten eighty is the number to call. You can
tex through on nine to nine two. We've got to
take a quick break. But were we bank with the
one roof radio show and Debbie Roberts financial Advisor. Very
surely it is twenty four past four News Talks ABB
You are listening to the Weekend Collective and the One
roof Radio show. Our experting guest is Debbie Roberts, financial
(17:57):
advisor at Property Apprentice. She's got great music, tastes tired,
doesn't she, Debbie, Yes she does.
Speaker 4 (18:03):
She does.
Speaker 2 (18:04):
Fantastic song, fantastic song Tirah right now. If you've got
a question for Debbie, eight hundred and eighty ten eighty
is the number to call. This is a great question
that's just come through via text Debbie. See, as we're
looking at selling our home, do fees differed between the
agents within a company? Ie? Is it likely to be
different from one hardcourt agent to another other than meeting
(18:24):
with a couple from different companies? How can I tell
who charges what, what, the extras they might tack on
to their fees, et cetera, marketing costs. I feel bad
meeting with multiple agents. Also, don't want to get stuck
with the first one we meet. All info and experience appreciated, Debbie.
Speaker 3 (18:42):
Oh, that is such a good question.
Speaker 2 (18:44):
Yes it so.
Speaker 3 (18:45):
Here's the thing. If you were a realisted agent, I
don't think that you would feel offended if you thought
that the person who was thinking of selling their house
was checking out with a whole bunch of other realistic agents.
They're used to, this is what they do. So absolutely
I would suggest have a look at all the different
realistic agents in your area and pick one agent from
(19:09):
each office that you feel good about, someone that you
think you could work with. Doesn't necessarily have to be
the best agent. Could be a new agent that's really enthusiastic,
but yeah, absolutely get one. You talk to an agent
from each of the companies and just make sure that
when they give you an estimate for how much they
(19:29):
think your house could sell for, make sure that they've
got some statistics to back that up. You don't want
them to just be buying your listing by telling you
that they'll be able to get you a price that's unrealistic,
you know, just to get you excited and then bring
you back down to reality with a thud after the
first open home.
Speaker 2 (19:47):
Great advice shop around. Hi, Debbie, we are looking at
getting a rental property. This place in particular checks all
the boxes except being on the main road. It's a
small town approximately fifteen thousand people, so it wouldn't be
that busy. It has a fairly big section in trees
fence blocking it from the road. Would you hesitate about
buying a rental property on the main street?
Speaker 3 (20:08):
I tell you what would make me hesitate about that
one was that there was absolutely no mention about the
rental return. So as an investment, it's all about the
potential in the property. What can you do to add
value to it? What sort of rental return is it?
Like Paul and I have owned property on a main
road and it hasn't given us any major issues, and
(20:32):
same with we've owned properties down quiet streets. So I
think you know, if it is on a busy road,
some people will be put off, some won't.
Speaker 2 (20:41):
Yep, fantastic. There's some great questions coming through on nine
two nine two. If you've got a question. That is
the text number, but you can also call us. So
e one hundred and eighty ten eighty is the number
to call and if you want to email, that's fine
as well. Tyler at Newstalk zb dot co dot nz.
Another crack question here, Hi Debbie, we are wanting to
upgrade our home. Unfortunately, lending position means we would need
(21:04):
to tell our place to fund what we want to
get into. Already know our lending position with the bank,
can know exactly what's possible. We are considering listening our
place to sell, then look to buy once sold, or
at least be in a position to make a real
office subject to sale of our place. We know the
obvious risks if we sell, Can we find the place
we want in time line up set on when dates, etc.
(21:26):
Or is the risk too much in that scenario? Advice?
Speaker 3 (21:29):
Please, have you spoken to a mortgage advisor about potentially
getting some bridging finance just in case you find the
home that you fall in love with that you don't
want to run the risk of missing out on by
having a conditional on the sale of your current property. Yeah,
if you can sell your home first, that puts you
in a stronger position for negotiating. But obviously then you
(21:52):
run the risk that you might not find the house
that you want to move into. So not an easy
question to answer, But I would start by talking to
a mortgage advisor and asking them if you can get
bridging finance if you needed it.
Speaker 2 (22:06):
Yeah, fantastic. Just talk about getting your home ready for
market and the increase in people coming through in the
open home. What is it that buyers do you think
look for when they venture into a property to inspect it?
I mean, are we talking of the basics here that
you want to make sure the paint work looks great,
the carpets are in good condition, or are there little
tips and tricks that you need to know about to
(22:29):
to you know, I suppose increase the odds of them
buying your property. You know, the old trick of baking
bread hours before the open home? Is their truth in that?
Speaker 3 (22:36):
I think there is. You know a lot of people
do put on coffee, you know, to make it make
the house smell inviting, you know, flowers, fresh flowers, all
that sort of stuff. I know, certainly when Paul and
I were flipping properties, we would make sure that we
got there bright and nearly opened up all the doors
and windows to let some fresh air in and turn
(22:58):
lights on in every room, you know. So you know,
real estate agents do all these things as well. I
think when people go looking at open homes, it depends
on what they're looking for. You know, a home buyer
will look at a property completely differently from how a
property investor will look. So you know, a home buyer
will walk into a property and potentially be put off
(23:19):
if it needs to have a lot of work done
because they are probably going to be especially if they're
first home buyers. They might be using every last dollar
just to fund a deposit on their property, whereas a
property investor might look at something that needs a bit
of work and see that as an opportunity to add value.
So yeah, I think everyone is different. Yeah, and it'll
(23:41):
depend on whether they're upgrading their home or There's so
many different variables there, there's just not really one size
fits all. But I think like my husband, for example,
every single time he goes and has look at a property,
he pulls out his tape measure. He's got a tape
measure that he carries in his car with him at
all times, just in case and it's a torch, so
(24:04):
it's like, you know, he looked that things like he'll
he's an ex electrician, so maybe this is where that
comes from. But he'll crawl under the roofs, under the
floor space just to have a look and see if
there's any signs of water under there, you know, like
damp wood in the floorboards, all that sort of stuff.
He crawls under and he's a good old fish around.
I'm not the slightest, but inclined to do that.
Speaker 2 (24:26):
Clever guy. I'll tell you what we were looking at,
and this was both me and my partner where we're adamant.
This was kind of at the top of the lesson.
It's going to sound weird, but we were big on
the water pressure. So we tested every shower that we
went into and we got some funny looks. Actually when
we walked in straight to the shower, crank the shower on,
even from the agency. What are you turning the shower
on for? Just checking the pressure? Yeah, you know, if
(24:47):
the pressure isn't great, we're out. We're out.
Speaker 3 (24:50):
That's absolutely something that Paul and I do if it's
a property that we're going to be living in. Yeah,
because we like good water pressure as well.
Speaker 2 (24:57):
Absolutely right. If you've got to question for Debbie, now's
your opportunity. Oh eight one hundred eighty ten eighty. She's
only with us for another fifteen minutes, so get in
now we've got to take a break. It is twenty
six minutes to five bank fore shortly here on the
Weekend Collective. Welcome back into the Weekend Collective and you
(25:19):
are listening to the one roof radio show with our expert,
Debbie Roberts, financial advisor at Property Prentice. Thanks very much
again for your time, Debbie, thank you for having me.
If you want to have a chat with Debbi and
get some advice, now is your opportunity. O eight hundred
and eighty ten eighty is the number to call, and
let's go to the phones. Craig, how are you.
Speaker 5 (25:36):
Doing there, Tyler?
Speaker 6 (25:37):
How are you doing?
Speaker 2 (25:38):
I am very well, my friend. Now you've got a
doozy of a question for Debbie.
Speaker 5 (25:42):
Yeah, I do. Actually, I'm just about to come up
to refixing the mortgage. I was in at the bank
and had a meeting with him today because we're going
to be looking at purchasing a home. We've got a
four bedroom apartment Central City, christ Church, which is doing
very well for itself and making his money. But we're
(26:04):
wanting to buy our own home and my partner has
just he's just got his PR residency visa, so it
means that he can now take on and be part
of the mortgage. So we've got a lot of opportunities.
What do you suggest we do in relation to fixing?
(26:25):
Should we do a six months where you were thinking
a twelve month and have a lot of it?
Speaker 3 (26:30):
Then well, good question. So with the apartment, are you
planning on keeping the apartment or are you planning on
selling that to buy the.
Speaker 5 (26:38):
Home revenue it's a good revenue income, so it would
be differently kept, so.
Speaker 3 (26:43):
Kept as a rental okay. And do you own another
property already? No, we don't, okay, So this would be
buying your first home together. Yeah, okay, yes, yep. So
my advice would be to look at getting a loan
for the home with a different lender than the one
that you've got your rental property with. If you've got
a mortgage on that one. Split banking reduces your risk.
(27:07):
If you're talking directly to the bank, they are going
to want to tie everything up together, So yeah, I
would suggest it.
Speaker 5 (27:15):
Was quite interesting because the banking consultant did say keep
two separate mortgages.
Speaker 3 (27:20):
Yeah, so separate mortgages. My personal preference would be for
separate lenders completely.
Speaker 5 (27:27):
Oh, I hadn't thought of that, But that's so, that's
actually really good. I'm pleased I bought that up with you.
What do you think with the interest rate? Work it
for a six or a one year because I know
that it's stitting at six it's going to be six
point eight to five. Yeah, there's going to be the rate.
But going to one year they seed five point nine.
Speaker 3 (27:47):
Yes, So I mean it's a toss of a coin,
to be honest, because you know, nobody really knows exactly
what's going to happen with interest rates. But I suspect that,
especially if you're looking at purchasing a home, you can
stagger your expiry dates. So you might even consider splitting
the mortgage. It depends on the size of the mortgage
(28:08):
on the apartment, but you might have part of it
fixed for six months, part of it fixed for twelve months,
or just roll the dice and go for six months
and hope that in six months time it's lower than
what it is now.
Speaker 5 (28:21):
Yeah, that's what I was thinking. Yeah, well, thank you
very much for your advice. It's much appreciated and loving
the show.
Speaker 3 (28:27):
Dialer.
Speaker 2 (28:28):
Oh you came to the right place, Greg, and congrats maate. Exciting.
It's good to chet again because it's been a while,
so go well. Exciting times for you guys.
Speaker 5 (28:35):
It has been really exciting. The past three years have
been building everything and now we've got everything there. We
can now utilize what we've got. And you know, if
anyone's thinking about buying their own home, always go for
something if you can handle it. Go for something more
central to everywhere and have it available so that you
(28:58):
can rent out rooms because it's a no brainer. It
really is an absolute no brainer to get some income
comming them and investing in your own properties.
Speaker 2 (29:10):
Excitly, said Craig. Yep, fantasy. Now go well, make good
catch up again, Mike, you're on with Debbie.
Speaker 7 (29:19):
How are you good yourself?
Speaker 2 (29:21):
Good?
Speaker 4 (29:22):
Good?
Speaker 7 (29:23):
Good? Hey, I said a question of what I got
several rentals in Hamilton. One at the Mount. We're looking
at selling a two by two that we sort of
bottled out. We're going to sell it later this year,
but it feels like things are improving a bit. Where
do you think the rental expected rental returns to the
(29:44):
percentage of sitting at the moment's investors feel for that? Uh?
Speaker 3 (29:48):
What do you what do you mean, like, what what
sort of rental return investors are getting?
Speaker 7 (29:54):
Yeah, as you're indicating before the value of a rental
property as a function of it, how much rental turning?
And absolutely yeah, where do you think that's sitting?
Speaker 3 (30:05):
Hens on where you're looking and what types of properties.
I like to give you an example, new builds. If
it's just a townhouse, new builds are around the four
percent gross yield. If it's a duel key and you know,
a new build, then you can see them around six
percent gross yield. But we're seeing purchases with eight, nine,
(30:26):
ten percent gross yields in multi income stream so in
different parts of the country. Yeah, and I mean the
deals are there, you know, because there is some motivation
from some sellers. So you know, you are you are
in a position that you can negotiate some good purchase
prices and add value to the property to increase the
rental routine as well. So you know, a lot of
(30:49):
a lot of clients for example, that don't even you know,
don't even break a sweat getting above six percent gross yield.
Speaker 7 (30:57):
You're right, yeah, no, that's good. It's field. The things
are improving as good A ninth classic nineteen six. These
two to portfolio we luckily brought into fifteen to time
to catch up. Nice.
Speaker 3 (31:13):
Nice, yeah, because I think I think it is important
for anyone out there who's listening, who's thinking about investing,
is that even with interest rates coming down, you know,
six percent gross yield is not going to be enough
to cover the cost on owning that property, even if
it's on an interest only mortgage.
Speaker 4 (31:30):
You know.
Speaker 3 (31:31):
That's so the higher the rental return, the better. It's
all a game of finance these days.
Speaker 7 (31:37):
Yeah, yeah, yeah, And we know the market pretty well
and it was pretty igh watering into sixteen seen people
going at about four percent gross on older I think
you call them two key properties. But yeah, I'll be
thinking again about now.
Speaker 3 (31:51):
Thought a lot of we've seen a lot of financial
hardship from people who purchased new builds thinking that that
was the way to go, you know, because they still
had the interested actibility being a new build versusn't existing.
So yeah, glad to see some common sense coming back
into it and people learning a bit more about it
before they jump in boots and all.
Speaker 2 (32:10):
Yeah, thank you very much, Mike. You sound like you're
buzzing by the way, So congrats and exciting times ahead.
Speaker 4 (32:17):
Yeah, thank you, thanks Mike.
Speaker 2 (32:19):
Oh eight one hundred and eighty ten eighty is the
number to call. We'll get a few more minutes with Debbie.
So if you want to get in your bed to
get in quick. Some great texts coming through Debbie this one. Hi,
We've got a wee dilemma. We need to the property
we've got is a bit or we need to do
repairs before we sell, but we don't have the finance. Now,
(32:42):
some of the repairs are not major. What sort of
repairs do we really need to take care of before
getting it on the market, And they don't specify what
type of jobs need to be done, but if it's
anything on the bones of the property or anything that
looks unsightly, they are probably the jobs you need to
get sorted right.
Speaker 3 (33:01):
Yeah, I would suggest talking to your real estate agent
and ask them what they think could be your top priority,
because it might not be as bad as you think.
You know, especially in the current market where a lot
of buyers will be looking to add value to properties.
So you know, like I said, if it's an investor
that's looking at it, they might be quite excited about
(33:21):
the potential to add value to it through renovating it,
and it could save you some money in the meantime.
So instead having to do it yourself, So talk to
the real estate agent. Just make sure that any money
that you spend is actually going to increase the chances
of selling the property or increase the sale price.
Speaker 2 (33:38):
Yeah, very good this text. Or asked Mary Hi, I
wondered if Debbie had an opinion on a state agents
who will get your property up together and then you
settle up with them when sale is complete it I'll
just read that back again. I wondered if you, guess
had an opinion on a state agent's who will get
your property? Oh, get your property up to scratch and
(34:01):
then you settle up with them when the sale is completed.
I've never heard about that. Make it what the real
estate agent takes on the responsibility of getting your property
up to scratch and then once the house has sold,
you pay them for the work done.
Speaker 3 (34:13):
Yeah, So this is something that's quite common amongst property
traders or property flippers. They know they can be open
to doing that if they're not in a position to
buy the property outright and then add value to it
and then sell it. It is something that a number
of traders can look at doing for you. So you know,
that is absolutely a way to help get the better
(34:35):
sale price and then potentially split the profit with them.
If that was what the caller.
Speaker 2 (34:39):
Was meaning, Yeah, great, this is another great text. Hidbi,
I have some money but not enough to buy a
rental property. Are there ways of getting into one, like
a syndicate or some other way?
Speaker 7 (34:51):
Please?
Speaker 3 (34:52):
Oh gosh, there's a whole bunch of different things that
you can do. So yeah, there are property funds, which
is that it's buying a share in the property, so
to speak. So it's yeah, there's companies out there, mostly
with commercial property. I mean, my personal opinion on residential
(35:17):
property with shared ownership is that it's a little bit
complicated if you're not actually owning part of the property,
if you're just owning shares in a company that owns
the property. There's a few fishicks to look out for
in those sort of scenarios.
Speaker 2 (35:33):
So just on that. I mean, you mentioned most of
those properties or commercial properties, but I take it some
are residential. That must be quite a rare situation where
there's a company that owns the property then they bring
in investors so to speak. You put money in and
you've got to share it at home. How it's meant
to work, Yes.
Speaker 3 (35:50):
And I mean I'm not a huge fan of that.
On My personal opinion is, if you're going to invest
in property and you're a bit low on deposit, say
the bigger deposit. You know, if you've got equity in
another property, you don't have to have cash. You know,
a lot of people aren't aware of that, so you know,
if the caller had equity and another property, you might
(36:11):
be able to leverage off that to help boosters deposit.
Family and friends, Well, you can always hit up the
banker mom and dad if you're luckily enough to be
in that position.
Speaker 2 (36:20):
Absolutely, yeah, fantastic. Right, We've got to take a quick break,
but we have a few more minutes with Debbie after that.
So if you've got a burning question, now is your
opportunity and the last one for the Saturday, so you
better get in now. Oh eight hundred and eighty ten eighty.
It is eleven minutes to five. Back for you shortly
here on the Weekend Collective News Talks there b Welcome
(36:42):
Back into the Weekend Collective and the One Roof radio
show with Debbie Roberts, financial advisor at Property Apprentice. Quick
a couple of texts and then I think we've got
time for one more phone call. Hi, Hi, Debbie. We
are looking to refix our whole mortgage. It is our
first home, the first time we've had to refix. Does
(37:03):
it make sense to try and split the mortgage into
several parts? Our mortgage advisor is a bit hesitant on
that advice. Please.
Speaker 3 (37:12):
My opinion is it's a great time to be splitting
your mortgage, even if you fix it all for six months.
You know, if you split your mortgage up and fix
it all for six months, then at some point you
can decide to start fixing some for longer rather than
shorter terms without having to go through the whole loan
document documentation process again, say.
Speaker 2 (37:31):
Brilliant, fantastic, Right, We're going to squeeze mike and get
a mike. We've only got about forty seconds to go
for it.
Speaker 6 (37:37):
Okay, okay, cheers. Hey, listen. So I'm getting my property
ready for sale and had an agent around and asked
what I should do or what I shouldn't do. One
of the things we've got here is a poll and
it needed some It needs some repair. It needs me
to spend about ten grand on it to get it
up to top notch. She's saying to me, don't bother
(37:57):
about it. People don't care about polls, and I'm really
anti that. Well, sorry, I disagree with that, and I'm
wanting to give people an option at least for me
to finish the pool off or take it out.
Speaker 2 (38:12):
Great question. So to repair or not repair the pool, Debbie.
Speaker 3 (38:15):
I would use that as part of the negotiation. You knows,
ask potential buyers if you say you're willing to you're
willing to fix the pool if they want it to
be fixed.
Speaker 2 (38:25):
Yeah, great stuff, Thank you very much. Michael. Wish we
had more time, but we don't. It is six minutes
to five.
Speaker 4 (38:36):
Yes.
Speaker 2 (38:37):
The one roof property of the week this week is
a Doozy eleven Mahullan Drive, Jacks Point, Queens Down. The
auction is on the eighteenth of September. The estimate is
one point sixty nine million. The RV is one point
four to five million, three bedroom, two point five bathroom,
one car garage. This is a two level, three bedroom,
two and a half bathroom seed a home with a
dedicated office space. This property ensures a peaceful retreat situated
(39:00):
on four hundred and twenty seven square meter freehold site
with a one car garat in space for three more
in the driveway. But it's not only in a gorgeous location.
The home fits the aesthetics of its surroundings with a
beautiful hardow wood flooring, stone bench stomps, ducted heating throughout
the whole home, and heated flooring in both bathrooms. Jack's
(39:20):
Point in Queenstown is a beautiful location. Sounds like a
beautiful home, doesn't it, Debbie?
Speaker 3 (39:24):
It does? It looks pretty too.
Speaker 2 (39:26):
Yeah, absolutely right. That is all the time we've got
for Debbie. Thank you so much, lovely to chat and
lovely to meet you.
Speaker 3 (39:32):
Thank you, lovely to chat with you too.
Speaker 2 (39:35):
That is Debbie Roberts, financial advisor at Property Apprentice. Right
after five o'clock it is the parent Squad with Catherine Burkitt.
Get on the phones now if you've got any concerns, worries, questions,
advice for parents out there. Love to hear from you
on eight hundred and eighty ten eighty News, Sport and
Weather is on its way. It is four minutes to five.
(39:56):
We'll see you on the other side. A bit of
music to play our outs.
Speaker 1 (40:00):
For more from the weekend collective, listen live to News
Talk ZB weekends from three pm, or follow the podcast
on iHeartRadio.
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