Luke,

Hawera would be interesting I was reading one of the other forums recently that suggested there are good developments taking place there.

I hope your trip was successful!

Cymber

Seems everyone starts in Tokoroa! You know I personally think the returns are better in Invercargill and there is less risk involved as there is no reliance on a single company. Invercargill has shown slow but steady grown and still has reasonable returns.

Cymber

Compared to Melbourne it is cheap – but the value has to be determined relative to the income you receive, as you will see the wellington rental market gives gross returns that are between 6-8% which is not outstanding.

For the rental by area have a look at
http://www.dbh.govt.nz/housing/tenancy/Market-Rent/market%20rent%20region.asp

Then you…[Read more]

Got to agree that using your credit card is not ideal and risky. I also think if you are starting out with no cash a vendor wrap or lease option is the best way to go. You will pay slightly more but you will start to gain equity immediately and this you can later access by refinancing or selling (probably the latter is best). Obviously any deal…[Read more]

I like:

“Don’t listen to advice from well meaning friends and relatives who aren’t investors themselves.” Add to that don’t listen to people who are negative about everything (ie now is the wrong time, this is the wrong market, that is risky etc)

Ever noticed that people who have no money or inclination are always really cautious – don’t listen…[Read more]

You know I am also suffering from stagnation and I was at the master class.

However one thing really struck home, get out there and do it. It is like most things – leap in and learn from your mistakes rather than holding back and considering every option. It seems the strategy develops once you have started (for me anyway), as you gain from…[Read more]

kerwyn,

I had forgotten about the tornado. However it seems to me that insurance is for those risks – just as if you were buying in Wellington or Gisborne which are highly prone to earthquake, or flooding in manawatu.

You have to accept some risks in your IP’s, and you hedge with insurance.

Cymber

Tina,

I know how you feel there are a lot of good books and it can all seem too much.

I started with Building Wealth Through Investment Property By Dolf de Roos. I found this to be an excellent book (you can get either a NZ version or an Oz version).

It is an easy read (honestly bed time reading) and explains things well. After than I…[Read more]

Westan,

Interesting about Marton, thanks for the info.

I am interesting in the USA market? Are you looking at property there? Are there good returns?

What special arrangements did you have to set up to buy property there?

Thanks

Westan,

Thanks – that gives me an idea of what to look out for – sounds like I need to scrutinise the leasehold contract carefully!

Thanks

Cymber

There is no time like the present to invest!

From the little I have seen of chch I would invest in the outer districts, higher return for lower capital outlay!

Good luck and happy investing

Sinead,

I checked on the two properties I have owned in Masterton and Pal North over the last 4 years and I got an everage of 48/52 weeks tenancy and that included the period they were untenanted right in the beginning and I didn’t know what they were doing.

I know it isn’t representative, but hey!
R

Hey Westan,

Thanks. I agree on all the reasons for liking and disliking [biggrin]

Have you checked out the leasehold scenario? Are there any catches? Why is leasehold high return? What is the risk?

Thanks!

Thanks!

I am establishing a discretionary trust for the buy and hold properties, but in the interim I was thinking of trying my hand at rennovation, which would be a faster turn around, and therefore better placed in a trading trust!

Now I know the risk and I can weigh that up better.

I don’t know this is Property investing advice, but it is investing advice!

For me it appears that my greatest mistakes are the most valuable things that occur in my investing journey.

I once loaned my then partner’s substantial amount of money (which was under a mortgage in his name only), to this day I have not seen a cent of this, his parents…[Read more]

I use a solicitor just outside of Wellington. I have found him to be good, but to quote Steve, “Money follows management”, I do have to follow him up and ensure I get what I want.

I can give you a referral if you are interested, although he is very busy.

contact me if you like [email protected]