Let the Brainstorning begin...

Day 2 of Project – 1 August, 2012

Today I went out for breakfast (with aforementioned friend in the industry – purely coincidence), met the accountant for our annual accounts talk (second more lucrative income),  went to the movies (Bel Ami – don’t bother) then out for dinner (Japanese). A big day.

I also, bought an E-valuation on line for the paltry sum of $47.95 that told me the property had an estimated value of $461,000 with a medium confidence level of selling.  Go figure. 

I am still unsure of how many bedrooms and bathrooms the property has but have requested an appointment with the letting agent to meet the *tenants.

The insurance broker has also got back to me with a policy that runs out in September this year, that she assures me will be transferrable as long as “the Builders Report” confirms the building is structurally sound and that the purchaser is acceptable to the insurer.  Note to self; arrange builders report.  (Wild note taking has begun on whiteboard).

*Also googled “Can you sell a house while the tenants are on a fixed contract?” and was informed that you could, but, here’s the big hairy but....the tenants were entitled to stay till the contract expires. (Bugger, 8 months from now!).

Very helpful website that I must read that explains this stuff:  www.dbh.govt.nz/

Another huge day of admin.  Must go get ready for dinner.

Product

‘For Real’ Estate

31 July 2012

Today I have decided to sell a piece of real estate. Why? Because, I never have before and I like learning new things.  Oh, and I get to keep the commission.

After having bought four properties and renting them out for my brother over the past fourteen years (while he built up his local portfolio from his international perch in Japan), the hammer has swung to selling them off. 

Where do you start? Procrastinate for a few days then cruise by the property and take a photo from *your car in the rain. Decide to write a blog to “stay true to myself” through the process and for motivation.

Then you get a whiteboard.  All good projects have them.  Print out the postage stamp photo you took on your iphone and tape it to the middle of the board in readiness for some wild brainstorming and note-taking to take place around it.

Next, you email the insurance broker and confess to having lost the policy documents and demand they attach them to a return email as well as advise on any new rules I should know about. (Copy in my brother, so he knows I’m serious – and intelligent).

Also email your friend in the industry and ask for inside information; recommended/cheap valuers and solicitors. Preferably not corrupt.

Enough work for one day.

*Calculate potential commission on your iphone to excite yourself.