Forum Replies Created
I’d be looking in Melbourne or Brisbane myself but if you could pick up something on the water for that price in Tas then you should do well long term.
Just don’t expect any quick cap gain.
Redwing when you hear that houses are more affordable in Brisbane than Perth than you have got to think your near the top of the market although there are different factors which have driven each boom.
You can expect to pay around 8 to 9% interest on vendor terms with genarally a deposit of 10% depending on location and who is offering..
T o add to that you can usually buy with 10% equity in the property as well
Something I will be into more down the track.
I’d be looking to read as much as I can get my hands on.
Another way of looking at it is to buy an apartment,house and rather than sell it,refinance your mortgage then leverage into a number of properties at a comfortable LVR, then repeat process.
Make sure you set some sort of goal
Happy InvestingInvesting Overseas you are risking your capital which in most cases is your deposit.
For US you generally are only allowed 20 to 30 % deposits and for full doc loans fees are quite high.
For NZ you can get away with a 10% deposit which isn’t to bad.
As Westan has said buying a property you are pnly half way there as it is just as important to have a good property manager.
They are worth their weight in gold.
Happy investing!!!
Yes he still is active there.
His Unlisted property trusts is doing developments there.
You can look it up on his website.Through his recent newsletter saw a video clip in early April 2006 talking up these places,he was doing one of his property tours with clients.
It’s worth watching ,see if you can find it.Try this link
http://www.dolfderoos.com/survey/thankyou1.aspCheers
Hi Westan,
Yes his focus seems to be more into development in these places
in the current market don’t see the positives either buying there ,although would like a house over looking the lake and mountains.
I’ll wait a couple more years and see what happens
Cheers
It’s strange you know,you see these articles of doom and gloom and think there is major concern for all NZ.
Whereis Dolf De Roos still has confidence in certain parts of Newzealand like Queenstown and Invercargvill and has the majority of holdings in these places.He predicts strong growth to continue purely based on supply vs demand and is saying that will beat the NZ average of 10% a year for the last 50 years.
He also likes Pheonix,Arizona (USA) based on the same principals
You look at Queenstown and you think surely this place can’t go any higher.
Think again say’s Dolf De Roos
Hi Kiwi,
I have heard people using a personal loan for deposits,though i havent been game to try this yet.Providing you can service this and the higher interest would work on a higher LVR
you could always refinance out if you have increased equity and pay the personal loan back to get a better interest rate after a while.
Cheers
Do a search on Stiil In School.
He’s a great investor for someone still in thier early 20’s,not only in property but in shares as well.
He’s got the right mindset to make it bigHi Kylie,
You’ll only need 20 or 30% as deposit for Texas properties,although at 80% you will be charged more fees etc.
For finance speak to Richard Taylor as he has interests there also and would be happy to help you out with any questions.
For buying properties contact Chad Simons.
PM or email me and I’ll give you his number if you like or visit
http://www.gr8realestateinvestments.comFor taxes they are about 3% of appraised value.
Hope this helps
Depends if you are purchasing 1 unit or the whole block of units.
Might be the responsibility of the body corp to fix a roof.Simon,
How do you know or find out whether a lender does good valuations.
Do you find this out from your mortgage broker?
Cheers.
Thanks everyone for your comments ,suggestions.
By the sounds of it might be better to bite the bullet now and replace carpet,then shouldn’t have to many worries for 5 ,10 years.
Just another learn from your mistakes scenario I guess.
Happy investing!!
Bardon Thanks for posting this.
Looks like Australia has a got a few more years before it’s classed as affordable.Cheers
Not long ago bought a pre forclosure deal through Chad Simons and picked up good equity which I can refinance or sell later on down the track..
Might be worth while calling or emailing him as he looks like going at around the same time and can point you in the right direction.
At the moment he’s got plenty of rehab oppotunities which can be onsold for quick profit but all depends on your risk /return ratio on what and how much you would like to make.
Plenty of opportunites over there!!!!
I’m in the process of refinancing aswell.
A point to make is with driveby valuations if you have done any interior renovations they will go unnoticed and can be the difference of 1000’s of dollars.
So I’m going to go independant with the valuation and by doing this will go along way into getting the most out our equity and the lender will take the val into cosideration.
Can be a big difference in 10,20 years!!!
Correction
Did you own a business?
How did you manage to save 750 000 at 19?
The best I could do at that age was 10 000.
Do you own a business?
Well done anyhow.
Thanks Bruce for the website.
Gives you a good idea of whata property is worth.
CheersPlus the fact that to transfer funds from Australia will take 3 days via online transfer..
If you have a US bank acc it is in most cases 24 hours.
