I don’t know in some areas of the big cities it would be fair to say that early investors find undervalued areas and begin to buy. Others see whats happening and want to get in on the action and soon the prices go crazy.

However, the rural and regional price boom I would say could be almost solely driven by investors as many people would not buy…[Read more]

Many of the major banks in NZ are Australian. ANZ and Westpac. The Bank of NZ looks set to be purchased by either ANZ or Commonwealth Bank.

There are some legal differences between Australia and NZ but for the most part their lending policy is very similiar to that here is Australia.

AS for borrowing through an NZ Bank to purchase in NZ it would…[Read more]

One of the ways I found to see if there is an oversupply of rentals in your local area is to go to Realestate.com.au and look up the rentals in your area. If there are more than say 25 properties for a town of 50,000 or less then I would say there is an oversupply and then I look in other areas.

Hope this helps.

recoveryman. When you say better than 20% deposit I assume you mean that because you are buying overseas that you need 20% plus costs? This is becuase mortgage insurers will not mortgage insure a property located in an overseas market.

You may approach HSBC as they are an overseas bank located in Australia. I am not 100% on thier overseas policy…[Read more]

Happy Birthday Chandara. I hope you had a great day.

Rest energise and go out there and make a fortune!

davo

minimogul.

Ok I will make you deal I am now pondering what you said and I have looked at what others are saying and I have decided I run the same risks whether I buy here in Brissy or in Tasmania or Victoria or NZ. So if I make the leap can I get you to give me a brief how to guide. Just I am use to running my own properties and letting someone…[Read more]

Hi everyone my name is David I am 33 yrs old and work as a Finance Manager for RE/MAX. I have been involved in the finance industry for many years but never really found out how it could work for me.

In 1994 my partner and I bought an IP in Coorparoo in Brissy. Got it cheap spent $7,000 fixing it up. Held it had some tenant problems I got cold…[Read more]

Mini I need to clarify something! You say you do little research on your properties. So what do you research before you purchase. Oh and ps I do get a pest building report on my properties, but I don’t want the stress of trying to get a builder, plumber etc to fix something on a property that is 1,000km away when I have no control over what gets…[Read more]

Yes you must live in the property within six to twelve months of purchase and you will have a period in which you must stay in the property. I would check with your local office of state revenue.

Be careful if the government thinks you are avoiding tax they can come down on you hard.

Davo70

St George will also do 100% finance and the interest rate is 6.90% variable (the loan is the same as their standard variable rate loan with all the features just slightly higher application fee and interest rate).

You need to have 2.5% that is held by the bank plus purchases costs and at least 12 months employment. So your $12k you might be able…[Read more]

Leigh I am fairly new to any sort of investment forums and I agree that if people are posting negative statements just to upset or incite people then yes that upsets me. However, most of what i have read on this forum is predominantly positive just poorly worded in some cases.

I was very enthusiastic when I bought my first investment property but…[Read more]

Non resident lending is tricky. You need to have a 20% deposit plus costs to purchase so on a $AUS 250,000 property you would need $50,000 plus $10,000 in costs to buy.

If your income is derived from a country not on the banks acceptable list then you will need to rely completely on rental income unless you buy when you arrive in Australia.

The…[Read more]

Hi Smartmoney, I suppose it will depend on how much of a deposit you have saved. I assume from the info you have provided that you are a First Home buyer. If so then I assume that you are aware that you would not be eligible for the FHOG unless you intend to live in the property.

So your deposit must cover the banks required savings (usually 5%,…[Read more]

Thanks everyone, I will get onto those suggestions and take my time before committing to anything.

Davo70

I have several positive cash flow properties in Brisbane suburb of Inala and Wacol. Another one you may consider is Darra. But once you get above $130,000 purchase price in these areas the yield drops.

I also have a few in Ipswich at Redbank Plains and Goodna. The area is not as nice as the Brisbane suburbs but the rental is as high and purchase…[Read more]

Hi guys I am new to this forum but to Joff. I beleive the reason young people will find it hard to buy a house is more about attitude than about finances. My brother and sister are both in thier early twenties they and most of their friends are of the opnion they should have a nice house in a trendy area, a nice car and nice clothes and that it is…[Read more]