Purchased in NZ town of 50,000 people for 74k and rented for $160p/w. Have spent $4k on painting, repairs and new heater which will bring up to standard of neighbouring properties which are on market for 90k. Would invisage with capital growth that this town will experience 100k is not out of the question within 12 months.

I’ve purchased this year in Invercargill sight unseen using Westan and all went well despite some tight deadlines. I suggest you use there recommended legal people in Balclutha as they are excellent. Purchased for $74k rented for $160p/w when rental demand had slowed a little due to the onset of winter.

Go Cats

My experience with overseas students was not great. The cultural differences initially will test the property out. For example the bathroom and kitchen will never be the same. If you buy in a cooler climate and they are use to a warmer climate the place will become a haven for mould as they will never open windows.

I just spent three days travelling around Horsham, Stawell, Ararat, etc and found properties in poor condition getting between $80 to $90 per week and ones in good condition getting anywhere between $110 to $140.

Dear Westan

Thanks for the replies.

Can I add Beaufort and Mortlake to the list.

Kind regards

Adrian.

Carn’t seem to locate it. Can you be more specific.

A couple of quick ones.

Have you heard about the dyslexic satanist? He sold his soul to Santa.

A grasshopper walks into a bar and orders a beer. The bar tender says “we have a drink named after you” to which the grasshopper replies, “what Kevin”.

Dear Westan

I’ve got twin sons aged 17,[] as well as three step daughters who have all grown up and have 10 children between them.[^] You can imagine Christmas Day. Does this count.

Hi my name is Adrian (gocats) and have just started out. From Geelong and have three stepdaughters and 10 step grand children and two sons. Employed as a School Chaplain in a country secondary school which I enjoy.

Hoping to build a small portfolio of properties over the next few years and then see where it goes.

Kind regards.

P.S. May be a…[Read more]

I’ve always considered having a combination of fixed and variable on a loan as a prudent way to go in general terms.

Dear Sach

My experience in bank lending is that these sorts of assets are only used to top up minor shortfalls in freehold secuirty margins. The application for finanace would have to be extremely strong in other areas, (e.g servicing, net assets, character etc) for a major bank to do this for you. It might be more prevelant for non bank lenders.…[Read more]