Would be good if this site had a photo function??? Someon could scan it in!

Hi KingDavid,

If you are truely keen of building a NZ portfolio I would do a couple of things.

* Consult widely – professional advice from paid experts is the best starting point.

* Get a team together – legals, accounting and finance.

* Meet the team

* talk to your OZ team about what you are doing in NZ. Use them as a sounding board. They will not directly benefit from it and can provide advice “in good faith”.

* Do some very solid Due dilligence on your target cities. Hopefully you can visit. Try to avoid tiny centres or what i call “trash properties. “

could go on and on but your question is really about finance (cause the rest of this stuff is out there in the search function).

* Get the finance first. Consult widely, find the best fit for you and get pre-approval for the whole lot in stages.

Eg stage 1: Approval for say $500,000

Then: Research – Purchase – Consolidate – Assess

During the consolidation phase attend to management – maintenance – finance etc

Assess: Have the yield/growth expections been met? How did the maintenance and repair costs meet with you expections. Have you been unrealistic? How is your team performing? What do you need to change at your end? What do you need to change at this end etc etc. What has changed since the start? What are your new expectations?

Then back to the bank for another 500k and so on.

The speed at which you are able to move forward will depend on your ability to service debt, the strength of your plan and of course YOU.

Regards,

Don

hi – have not brought a property in NSW for a year or so but 5% has always worked for me.

regards

Don

You may be right dazzling (except for my fantastic service of course)

The story goes like this. Every now and then Liz and I do open homes along with the general buying population to gauge interest and the volume of foot trafic rather than actually search for properties.

We went through one today as it was next door to another one we had been through. The fact that it smelt like corpse (anyone who has ever worked in emergency services knows what I am talking about) was just the start of its problems.

Anyway the agent confirmed a few things for me.

A) Some so called buyers agents are offering properties to clients that they have never seen.

The photo’s that they use are supplied to them by the real estate agent selling the property.

C) All the information pertaining to the property comes directly from the real estate agent.

So if you are going to use someone else to source a property for you for heavens sake ask to speak to the person who has actually been there.

If you can’t then what service have you been provided with – absolutely nothing.

We still get under and around and inside homes. It may not be glamorous but that is what is required.

When buying something that you have not seen ask these questions of your advocate. (as a starting point)

1) Have they seen it?
2) Have they ever actually met the person who has ie looked in their eyes ?
3) How do they get paid ?
4) Do they receive a “back – end” commission from the agency for “moving” properties?
5) Do you by all your properties from one organisation?

and perhaps this little questions might indicate what value you are getting for your money;

5) Have you ever been to ( insert location here) ?

regards,

Don

It depends on what is going on in the rest of your portfolio. What are your plans for this property. NB There are fixed products out there that allow you to repay extra and redraw as you need it.

the biggest problem in homes in that price range is deferred maintenance. Or more properly stated no maintenance. Unrealistic estimates of a repair cost will eat many many years in possible cash flow. You need to work out quick smart if you are a property trader ie in and out at the drop of a hat or if you are going to hold. If you a going to trade then by all means buy yourself a dung hole for 60k or 30k or 14k as there will always be a bigger fool (hopefully) . If you are going to hold to balance cash flow over your entire portfolio then try and buy something modern/updated or well maintained.

you need balance – one idea will not lead to investing success.

there was an abc doco on rick and while back – a differnent spin on what our expectations of what a successsful investor looks like. Image consultants etc etc. Don’t worry it was not the usual today tonight rubbish.

Hi SL

try this http://www.goodreturns.co.nz/section/200.html

regards,

Don