Many people think they need a large lump sum to retire. This is false, all you need is the cashflow from either property, business or shares. I like property because it’s realtivly easy to understand, and you don’t need to use ssophisticated strategies like you do with options/futures/etc.

Check out the free ebook:…[Read more]

“The Survey has now closed”

O’h well.

Rgds.
Lucifer_au

I hate to say this but NAB is probably The worst of the big 4.
Their customer service stinks and so do their products.
There is nothing which would make me recommend them.

I would move banks. There are much better ones (St George and ANZ are pretty good actually).

Rgds.
Lucifer_au

I just want to say, that it is probably better to find a M’gt broker on the forum because they know about investing, where as most mortgage brokers really only know only about buying a family home.

Rgds.
Lucifer_au

Steve actually got his start through “Owner Finacing” (or what is falsely termed a ‘wrap’).

He built this CF up and then diversified into other areas.

Rgds.
Lucifer_au

Many people chose a wrap for a whole bunch of reasons.

In your example your assuming people can get bank finance (pensioners for example have to put down a 30% deposit, which would equal $90K in your example).

Other people can’t save for a deposit. For example people would have to save $30K (Not including stamp duty and other costs to buy the…[Read more]

I use jaffasoft. Very Professional.

(fantastic for on the run too).

Rgds.
Lucifer_au

Well your grammar will have to be better (j/k).

I think you could. But you’ve only bought one property. SiS (whos on this forum and very young) has bought more than 16 (from memory that is – Also there are of young prop. inv. that I know of who have an expanding property portfolios who are also on this forum).

If your target audience is teenager…[Read more]

While prices might not drop, I think it will still be a very long time until property has another run like it did 02-04.

So prices to stay steady (or perhaps a slight decline) but little Capital Growth. So basically a flat market. In the short term the boom and bust scenario will stop any massive growth, and higher interest rates (medium term…[Read more]

Yes the market is slowing down and so are wraps to a degree. But in reality it is all about your makreting effort.

Rgds.
Lucifer_au

I might also add, that if you spent $25K on repairs (over $3K per yr), you would make more than enough to pay for two $500K properties (@ 10% deposits) within 8 years, or lets say 5 places at $200K each.

Rgds.
Lucifer_au

How much ‘profit’ do you receive? $15,600
Property repairs? -$8,800

How much do you have left? $6,800 (Cash)

Let’s say you negatively gear, and the same thing happens.

Net profit -$300 per week, so that equals -$15,600.
Property repairs equal -$8,800

How much do you have left? -$24,400

Can you easily afford $24K (and were talking cash here…[Read more]

Just a quick tip, there are lots of ways to reduce any tax you have to pay from RE. First you can use depreciation, any repairs, traveling to and from the property, meetings with advisors (accountant), seminar and books (on property), etc.

So as you can see you can reduce any taxes you have to pay quite significantly. You just need a good…[Read more]

You could always wrap to make properties CF+. In fact their are a couple of people doing it in Sydney of all places!

Rgds.
Lucifer_au

Me managing properties???

It gets a bit hard when your nearest property is 2 hrs away BY PLANE!!!!

And really I don’t even know how a toilet works (you press a button and it flushes!). So I’ve got no idea how to fix one anyway…

So I will disagree with Mr T Reed. There are excellent Property managers out there – Otherwise I wouldn…[Read more]

Get a good broker (TerryW is good, as are others on this forum). I don’t suggest you go straight to a bank, as really in my opinon a mortgage broker will get you just as good a deal (and you don’t even have to pay for them!).

Rgds.
Luicfer_au

“but the reality is these books contain fictional and unsubstantiated stories, experiences and methodologies which can be misleading.”

And unfortantly I have become independantly wealthy from them…

Rgds.
Lucifer_au

I would stay clear of inner city appartments thts for sure!

Esp. with a huge influx of appartments comming on to the market.

Rgds.
Lucifer_au

By the way the Student loans work great in NZ – Here in Aust. we have HECS, etc so it’s harder to get these loans.

Rgds.
Lucifer_au

I suggest you read what TerryW has written. Banks will lend to anyone as long as you can prove income/job, have savings and have a deposit. Minimum age is 18, if banks didn’t lend to you I think you would have a case for discrimination (you can vote at 18, and goto jail for murder…).

You can get 95% lends, and many banks allow you to capi…[Read more]