ok mistake 1, if you were intending to rent it out, renovating while you lived there means you cannot claim those renos as oyou werent earning an income from the property at that time.

mistake 2 relying on the good nature of family can only go so far.

We only started investing when we lost my wifes income, 3 years later we have 20 props and dont…[Read more]

all accounts there would make your NZ tax return easier but the question guys was by bringing the cash back here, how can he avoid big bloody fees.

Did I miss something or did you guys hijack this topic just a little?

DD[jerry]

Don’t sweat the small stuff,and it’s all small stuff!!

No, but i know of some nice little units in Tassie that are ripe for the picking. 16 to be sold, 5 sold already in 2 days.

DD
email if interested.

Don’t sweat the small stuff,and it’s all small stuff!!

whoa, lets not get too crazy. 115k mortgage would be nothing if you sold you house and moved to a smaller property. As it is your PPOR at the moment there is no cap gains tax to pay so selling is for you a good option. OK so you have your new house wherever and it is worth say 350k. Not only do you still have about 75k cash to play with but also…[Read more]

You want a miracle, and im Melbourne you want cheap trades…….muhahahaha.[blink]

Ok im off the floor. I have exactly what you need, but in qld. Sorry.

Good luck though.

DD[whistle]

Don’t sweat the small stuff,and it’s all small stuff!!

I never worry about that, if I get a better deal and a better percentage with another lender Im there. Shortest loan I have had to date was 3 months before I refinanced. Paid $35k deposit and with a better deal pulled out $30k 3 months later and bought 2 more in tassie.

Do what you want and if you are ballsy enough and do your diligence on other…[Read more]

yuk yuk yuk, seasonal with the holiday market. What if we have a 911 or something that prohibits tourism. Standard 3 bedroom “rent a box” investments will always do well in a good or bad environment economically. Dont be a bunny who has to ask for a guarantee. They usually factor the guarantee cost into the purchase price anyway so you are paying…[Read more]

Do what my sister has done, rent where you want to live for 2 years, buy investment properties as much as possible. Sell 1/2 in 2 years and all the equity goes into new house to live in.

Current borrowings you convert to IO with the investment proportion setup as P+I(deposits) then buy with a different lender using 20% cash deposits from first…[Read more]

friends are the first to say dont, but when you make money they say gee you were lucky werent you.

Dont listen to the friend, listen to the smart people in here that share their info or can find you those elusive bargains.

If the place stacks up, bugger the friend, it is not his money and you and only you can sign the contract. What the hell are…[Read more]

Im with Crest, this has been an amazing boost even challenging me to help with what little knowledge I have from time to time. I have gained enormously from reading and adding to these pages and feel that even if some of the”oldies” aretired of the same topics repeated then maybe they could glean the odd insight from one of the newbies.

Anything…[Read more]

A great thread as Im looking to invest on NZ shores before too long. Thanks guys, again this forum proves its worth for regular investors like me.

DD

Don’t sweat the small stuff,and it’s all small stuff!!

Thank god im not alone in whats happening and why Ippy is the place to go. All of the roads, trains and services are going thru a top flight range of upgrades, and it seems to me that you ignore what you have had a bad experience with yourself over time.

I have had probs with 1 or two tenants but it wasnt in Ippy it was in kigston over in logan…[Read more]

Use smoke and mirrors, I do. 80% is the banks vanilla loan threshhold. Above this they get scared and you pay for their mortgage insurance as well as higher in repayments on the property too.

So give them an 80% lend on each and they love you to death. Ok so in a few years you have cap growth, pull the original 20% off title 1 out of the mix and…[Read more]

Again a topic that all investors are different and therefore their portfolio is varied and somewhat different from mine. Yahoooooooo, im so glad to be with such a diverse group here and with different slants on each and every theme.

For me, a positive cashflow proerty covers all costs and gives you $1.00 per year profit.So if your basic equation…[Read more]

Gatsby, i had a similar problem. Selling a house srecently that also had a pool the then managers told me everything was ok.
I took their word for it until trying to sell it thru a real estate closer to the property for other reasons, I was told the pool was green, the lawns were not mowed and it looked untidy. Add to this a waft of stale cat food…[Read more]

Depending on whether the bank shades the value down $10-20k or leave it alone as with purchase vals, its the banks call. Maybe you find out which on their panel they are actually using this month as I know that if the valuer has even 1 dispute with a bank hes no longer flavour of the month and will usually be left on the list but not used…[Read more]

OK bought a dump in december that had been trashed by previous tenants. Found bong and cleaning fluid in kitchen, 57 holes in 1 wall(stoned while hanging picture I think), head hole at the bottom of the stairs(oops) and a cracked shower screen that otherwise looked new.
Tiled kitchen/laundry, carpeted 2 beds and tiny hall upstairs, painted…[Read more]

A bit harsh monopoly, at least I gave some hints.

[biggrin]

DD

Don’t sweat the small stuff,and it’s all small stuff!!

I go to the wealth creator seminars in Sydney. This morning we were treated to threeunder 30 multimillionaires who each spoke then were a panel fielding questions. These are excellent monthly meetings that give you business and other investing info, not just property. The networking sessions are excellent and past seminars are available on DVD and…[Read more]

You guys are all so thorough that it makes me want to invest in Perth again.

My pick is the Kwinana or ‘working’ area south oif Perth. Why? Good ask and the simple answer is it is cheap still to buy into and with the train line extending to, and another freeway going in nearby, the infrastructure(love that word) means that the residential sprawl…[Read more]