Hi Uforia,

Peter Spanns first book is very good re motivation and practical idea. Millionaire next Door is another that I think would challenge peoples ideas one who the Deca Millionaires are and how they act/buy/spend etc etc.

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Regards.

Hi,

Sounds good. Just one thing, I would probably stay away from blue on the floor. Lots of things we use in our bathrooms are white and end up on the floor. Tenants may not be a diligent cleaning as you would be.
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Good Luck

Hello,

aranieri

You may also find that reading other material by the likes of Peter Spann and Jan Somers to be of benefit. These two author provide a different perspective on property investment

Very good advice from Derek as usual. You need to read widely and open your mind to new ideas.
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Take note of the other very important info in Dereks…[Read more]

Hi Frian,

You could also add http://realtor.com to your favourites?

regards,

Don and Liz

Hi Superman,

We would have to agree with you on this one. It can be a huge lifestyle choice to rent. We have lived in places that we could never have afforded to own and managed to save money for investing at the same time.

Hi Firecaesar,

2) Is there any more upside/growth potential for N.Z in general (esp. Invercargill) in the next few years?

You can still find 10% properties all over NZ. I recently achieved that in Invercargill with 3brm/brick – well located – nothing to be done.
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Part of the equation is knowing the market you are buying in. The PM we use…[Read more]

Hi Beno,

We have a mobile home/caravan on the water in nsw. We toyed with the idea of renting as a holiday rental but after further DD we found that park management restricted this as it detracts from their holiday business (renting cabins).
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You would have to speak to the individual park. Now we just use ours for holidays and offer free to the…[Read more]

Thanks Martin. The whole point of the forum is to help each other achieve our goals and discuss new ideas.
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Good Luck.
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HI JPD,

Is there any adjoining land that you could negotiate a lease on to make this plan work?

Also with tiles keep a few extra for the inevitable breakages through normal wear and tear and accidential damage etc. Some lines go out of production very quickly.
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Good luck

Hi,

Whatever you choose try to select something that does not date quickly ie the next owner would look at and think this bathroom etc was revamped in 200?. Avoid textured tiles on the floor.
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Dark floor tiles seem to attract dirt or make people think they don’t have to be cleaned i’m not sure which.
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We have a preference for wooden bench tops.…[Read more]

Hi,

In that case the painting option will work fine. Try and get a good oil based under and sealer. Go for white or a light colour to reflect as much light around the room as you can.
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Carefull using a brush as the thicker qualityu paints will dry slightly raised and show through into your rolled coats.
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Good Luck.

Hi Tina,

Well done for having a go at 24 years of age. First thing would be to try and stay positive about your current situation.
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As you are experiencing having multiple properties is not always easy and you will need to have a well developed plan to be able to stay on top of things.
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You will probably get this advice over and over but you…[Read more]

Hi Nathan,

2k is a massive amount to spend on window coverings for an
ip. Try an get the budget down as low as you can. But it would be a good idea to get some up. The last thing you want is the tenant hanging some old sheets etc.
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20k is a lot to spend on a reno also. I was wondering what sort of work you were planning for that amount of…[Read more]

Hi Jenny,

What type of panel are your refering to. Is it wood or ply sheets of some other “material”.

Hi Bonnie,

Maybe now is a good time to open dialogue with the new owners of the house. The amounts of money your are speaking about are quite small and it is perhaps something that you could talk through with them.
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Not sure how that exclusion type clause would work in your state but it would be a shame if it got that far.
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Good Luck.

Good to see you are working as a team. Best of luck with your new ventures.

No worries have fun with the job. It is usually water that causes these problems.
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Good Luck.
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Hi Arnitrav,

As you have found out you will need to set a money budget as well as a time budget.
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If huddy is a tradesman and you are on the same page as a couple then you have the potential to do well with the reno’s. There is alot to consider.
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Find yourself professionals that you are confortable with and who understand what you are trying to…[Read more]

Hi Arnitrav,

Terry is spot on. The contract date is the date that is relevant for your CGT. There is not too much you can do now.
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On a positive note if you get right into this reno thing this will work to your advantage if you can negotiate long settlements on your next project.
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Good Luck.
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