Hi Vikki,
Mortgage Hunter knows what he is talking about as I said before there are many ways to do it[biggrin]

Martin

Hi Michael,
Where are you living now? As for better places to invest, I believe Australia at present is difficult. I used to be able to find properties that were cash flow positive/neutral with good chance of capital growth. These properties are much more difficult to find. I’m currently looking at New Zealand.[biggrin]

Martin

Hi,
If you buy a property for $280k you will need to pay stamp duty on that property of approx $15000 this is a very rough guess as it also depends on which state and even which country you invest in. On top of this theres solicitor fees of approx $1500. Then you do 20k of renovation bringing the total cost up to 316k. Then you have to take into…[Read more]

Hi Vikki,
You can utilize the equity in your house to put a deposit down and pay the fees. There are a number of ways you can do this. In the past I have purchased properties using only $4000 as deposit and when I have finance approved I borrow the full amount plus the fees. The bank holds my house as security for the loan. As long as I have 20%…[Read more]

Hi Michael,
Where are you from? What made investing in Australia look good for you?[biggrin]

Martin

Dear Michael,
I’m no expert but I believe if you sell your property and realize a capital gain of roughly $120000 the government will be very interested in you. They will add this amount of gain to your taxable income and tax you at the appropiate tax bracket in your case 47 cents in the dollar. So after you minus your capital loss on your shares…[Read more]

Hi Westan,
Just regarding your comment about the seller keeping 20% in the deal how would you broach this. If a deal like this is accepted, how would you structure it. You would need a solicitor to write it up surely.[biggrin]

Martin

Is the flat a I/P or your own? A unit that is costing you $250 p/w is a fair cost and if the capital gains are not going to be great I would suggest you sell and start looking around. How long have you owned the unit as this will have a big bearing on how much the tax dept likes you.There are positive cash flow properties out there but these are…[Read more]

Thanks G7,
For your advice I will check with council this afternoon on the zoning.[biggrin]

Martin

Hi,
I first ventured into property investing due to how negative gearing was being pushed around 8-9 years ago. I purchased a number of properties during this period. Then I heard about the cash positive theory and started purchasing those. I have never regretted buying the negative geared properties as they have recently been sold for very good…[Read more]

Hello Mutleys Mum,
I currently have a Defence Housing Investment property, I purchased it just over 12 months ago. At first the returns didnt seem to great but the property was located in a very nice area (Cairns, Forest Gardens) the house was in good shape and the tenants looked after the property and had been there for approx 4-5 years. I…[Read more]

Thanks Landburn,
Has anyone had any daelings with Jim Webber Realestate?

Martin

Hi Bonnie,
I agree with both Brenda and Monopoly.Positive cash flow properties are becoming increasingly hard to find. Well done on finding one. On a personal level I wouldnt over expose myself in a mining town due to the risks associated in investing in a mining town. A mix of positive geared property and property which you believe will give you…[Read more]

Hi Qwerty,
I totally agree. I dont believe I am a sceptical person but anyone who is about to invest an amount of money should do due dilagence not only on the area mentioned but on the person recommending it, I did and Yorker sounds like someone who has obvious interests in places he promotes. I’m no expert in the property game thats for sure but…[Read more]

The problem I have is people promoting areas where they have an obvious interest. There are other forums for that so at least try them. People experienced and those wanting to look at property investing come here to look for advice, not to here advertising. If you dispute what I have said please say so, if you think I’m lying please say so. I’d…[Read more]

Hi all,
Just enjoying the comments made on this topic. When I first came to this forum I was looking for a lot of advice and like minded people which I have found. Unfortunately when I see people pushing towns or cities I start to worry. For example Yorker pushing Rosebery. Please check his past archives he has pushed a number of towns in the…[Read more]

I agree with Westan, also not included is the recent talk of interest rate rising. Those who believe interest rates are going to remain at current levels for a long period of time are kidding themselves.The investment properties I have were recently pit under the microscope by my wife and they certainly werent putting in as much cash into my…[Read more]

Hi Boardy,
I have been looking at your figures and please correct me if I am wrong in any area.Figures based on 7%interest only over 25 yrs
$115K loan return $155pw repay $167pw
$210K loan PPOR repay $370pw P&I
$145K loan return $170pw repay $211pw
With the addition of your new investment property you will be up for $423 pw.Now if you have the…[Read more]

Hi,
Steps I would take: 1. Research area thoroughly you want to invest in.
2. Organise finance ie find out how much you are able to borrow.
3. Do more research speak to agents, discuss in forums like this, organise appointments with agents, have some inspections organised for properties you have found, have an idea of who to approach as a…[Read more]

Hi Geo and Dangermouse,
Plan is to research a lot of properties on the various R/E sites in NZ focussing on the Sth Island. Utilise Westan and his advice on properties. Tee up inspections with R/E agents prior to leaving. Looking only at larger towns/cities (Invercargill, Dunedin, Christchurch). Finance is currently being put together. I have…[Read more]