May 20, 2014 - 7:30pm
St Mary's Peace Hall
36 Vivian Street
Who is Cliff Seque? Heâ€™s a 62 year old Dunedin full-time residential investor and landlord, with 80 self-contained units in his portfolio. He will be guest speaker at the Taranaki Property Investors Association monthly event on Tuesday May 20 in the St Maryâ€™s Peace Hall on Vivian St, starting 7.30 pm.
â€œIâ€™m a long term landlord, for 30 years,â€ he says. â€œI started in 1973 by buying a block of three flats that needed upgrading to bring it up to the apartment bylaw standard and still have them. I went on to buy more blocks of flats that required upgrading and stand alone houses at the south end of Dunedin that required modernising and upgrading. In 1992, I started buying in the student campus area and have done so since.
â€I look for properties that I can add value to by increasing the rental return. I have a buy and hold philosophy with the belief that only thing you canâ€™t change about a property is its location.â€
Many landlord experiences are unpleasant; whatâ€™s kept him going for so long?
â€œIâ€™ve always had the attitude that if things go wrong, well I put the tenants in there so itâ€™s my own fault. The biggest problem is money. Tenants are not always what they seem, their circumstances change and the landlord suffers.â€
Cliff is keen for Taranaki people to come to his talk. â€œIâ€™m prepared to impart a lot of knowledge about buying and managing residential property. I have my own application forms, and my own tenancy agreements. They are very comprehensive. I donâ€™t use the DBH forms, too many holes in them.
â€œI keep a detailed spreadsheet for every property. I have been doing all my own property management up to 12 months ago when I employed my daughter to help.
â€œI can talk about many things, such as how to structure a deal to your best advantage, dealing with banks, dealing with tenants and dealing with insurance. I have gone to a higher insurance excess of $2000 which reduces the premium by about one third and the saving allows me to make about two claims per year. Otherwise, you can virtually never make a claim.â€
Itâ€™s $20 at the door for non-members, but you can get in free if you bring along the guest form in this newsletter signed by a member.