and you should be given a receipt from the agent for any deposit that is paid over – provides a good paper trail.

Having been in Dubai mid last year regarding a property development job there are a few things to think about: The rental market is being driven hugely by construction i.e. expats in property & finance and skilled/unskilled labour for construction work. While they continue to build the market is reasonably self sustaining. If the construction…[Read more]

Do a search on “relocatable houses” I know in NZ there are companies who specialise in these. I.e. you can go to their yard and view all the houses they have – usually included in the price is the transport and re-piling costs.

Originally posted by kpi:
Hi Peachy,

As an ex estate agent I know from experience that some vendors get very nervous about accepting an offer with no money down. I am in Victoria and $500 was usually enough, however, the initial deposit has no advantage to the estate agent, so try and listen to what the agents advice may be as they will know…[Read more]

sorry cant answer your question on buying with only a working visa – but I was interested as to why you say renting is a no no to most investors? I have always been of the mind that you are better off renting as you probably want to live in an area where a mortgage costs far more than renting the same house …. therefore freeing up capital for…[Read more]

John Burley’s – 7 money secrets of the wealthy (something like that anyway) was my big catalyst book that got me taking action. Highly recommend it.

Thanks for all the ideas …. good news over the holiday period my rental manager has managed to rent two more of them. So now with 3 out of 4 gone the property is sitting cashflow neutral. Time to rent the last unit and then work on selling them.

Cheers

Thanks for that numbers as follows:

Purchase of units $520,000
Cost of refurb $70,000
New valuation $680,000

The one rented unit is rented at $260 per week. That is what I want to achieve for the others also.

The units are in Linwood which is not the best area in Christchurch but there is alot of redevelopment going on and it is 5-10 mins from…[Read more]