Rebuilding after disaster

Anthony Patrickson and Paul Szybiak

In the wake of the recent North Canterbury earthquakes, we are reminded of the huge challenges and uncertainty that face those whose lives have been affected.

Landlords have the added responsibility of providing safe accommodation for tenants and the stress of facing repair bills for damaged assets.

To recover from a natural disaster and rebuild a town or city is a phenomenally daunting task. For landlords, this means rebuilding both homes and businesses.

But the silver lining to disaster is that it often brings people together, working towards a common goal.

The five friends who have formed Christchurch’s Arête Property are a great example of how the right team can exceed the expectations of any of its individual members.

Together this team is providing a fix for uninsured Christchurch homes that’s working for everyone – the homeowners, investor clients and tenants.

It started with a team effort, too: the five people who formed Arête are all part of a football team in Christchurch.

They joined up to embark on some property deals, decided to see how far they could go, and have ended up gaining some serious momentum.

But what makes Arête’s approach different is that have focused on building a long-term rental portfolio using Christchurch’s idiosyncratic, post-earthquake, ‘as is, where is’ market.

In the December issue of NZ Property Investor magazine, we talk to the “as is, where is” guys about their approach to investing and rebuilding after disaster strikes.

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