All our properties are purchased to a specific brief, and usually for optimal capital growth. All these properties have a strong capital growth component, but are displayed to demonstrate some specific quality, e.g equity on purchase. All valuations are undertaken by registered valuers.
Some West Auckland suburbs still a ‘hot spot’ for strong capital growth
There are still areas that have a solid capital growth record in West Auckland, and this was what our client was looking for when we found this property. Ready to rent straight away this property was a full site, in a sought after area . There are still little gems like this if you know where to look!
A West Auckland suburb that has been experiencing strong capital growth
This client wanted a property that had good strong capital growth potential over the short term and beyond. We agreed on particular suburbs that have shown through our research to be drivers of long-term sustainable price growth, and searching was focused in these areas. We are currently working in a rapidly moving market. It took under a month from when we began searching to securing this property for our client.
Purchase price: $565k, Registered valuation: $590k $25k of equity on purchase 809 s/m of land, 120 s/m dwelling
Good condition – ready to rent straight away.
Erskine + Owen procures highly sought after property – secured off market
The market is particularly “hot” in many areas and for some types of property – e.g. 1960’s weatherboard properties on full sites around the $500k mark. Hot can be defined as multiple offers, 6–11, being presented with the accepted offer often being unconditional and at a price that would set a new precedent for the market.
Our clients brief was to find such a property. Here is what happened: A sales agent was approached by an elderly couple who wanted to sell their property. But they wanted a long and flexible settlement to give them time to find identify suitable property to downsize to. Due to personal circumstances they were resistant about going to the open market. Many weeks of negotiation culminated in a round table discussion with the vendor, the sales agent and Lisa Phillips from Erskine + Owen. The sales agent ensured the vendor’s interests were protected and at the same time we were able to negotiate creatively for our client.
The result? Our client now owns a highly sought after property that the general public never had access to.
Successful auction bidding on behalf of UK client
We were recently engaged by a Kiwi couple living in London who wanted to secure a property in Northcote, Auckland.
They had identified two properties. We attended the first auction on their behalf. While we were bidding in the middle of the day they were sipping hot chocolate before bed. We were the underbidder on the first property.
They then instructed us to bid on the second property. The bidding started low and we bided time before entering the bidding. As the price rose to close to expected sell price we were one of only two bidders, and then the other bidder pulled out. The auctioneer conferred to his vendor and then came to ask us for more money – we gave him a token amount and there was no discussion – we were familiar to the auctioneer and he knew he wouldn’t be able to move us. The bidding was reopened and our competing bidder reentered the bidding. We created the “unexpected” by jumping the bidding to an irregular amount.
The result? Our client now owns that property and will soon move in to it to start a family.
West Auckland property with subdivisable potential
Client Brief: Wanted to start portfolio and had good purchasing power. Took our recommendation as to where and what to buy.
Rent: $360 p/w
Background: Purchased as a distressed sale. Strategic location given views of the Waitemata harbour and subdivisable potential. E+O project managed the renovation; internal paint, remedial building work; flooring, new kitchen fittings - example of standard below. In this instance we had renovated and tenanted prior to settlement.
Private sale in West Auckland
Client Brief: 3rd property we had purchased them and the wished to achieve something with a higher yield than previous properties, 6% plus. Final yield was just under 7% after renovation. Significant equity was a bonus.
Background: Private sale, owner did not wish to take to market. E+O had renovated and tenanted within 2 weeks of settlement. Client did not wish to paint exterior.
West Auckland focus on capital growth
Client Brief: Kiwi expat living offshore wanted to start NZ property portfolio. However needed guidence as to where to buy, and needed on ground expertise. E+O delivered turn key solution – from advising where to buy for maximum capital growth to the finished, renovated and tenanted result.
Background: Older couple wishing to exit property portfolio. Dealt with agent who knows us and needed a quick result for vendor. Was a do up inside and out – see before shot below.
Cash neutral property in Auckland City
Client Brief: Really wanted to get into the investment property market, but needed to leverage equity in house and had little ability to service a shortfall. E+O in the Plan session recommended they pursue a cash neutral property. We achieved that for them, and yet in an Auckland City Council suburb with great capital growth potential. E+O purchased the property and renovated for the client.
Property before renovation.
Background: Property was significantly run down and there had been little interest. Opportunity presented by agent we regularly work with.