Forum Replies Created
This is probabaly a dumb question – but how do you finance deals in New Zealand when living and working in Australia ?Would Australian banks lend you the money – or do you have to go to NZ financiers ? If so, what about proving income etc – or would the deal have to be so good that it stands on it’s own merits ?
Milla
I have no idea how this works either. Aren’t I helpful? [
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But how many properties do you really want? and will you have the time to look after all of them … (trust me something ALWAYS goes wrong… the more you have the higher the risk too )Pin
If you have 2 IPs and one of them turns out to be a constant problem, then 50% of your portfolio has gone sour. On the other hand, if you had 1000 properties, I don’t think it’s very likely that 500 of them would give you problems.
What I’m trying to say is that I think the more properties you have, the lower your risk.
-Ian
That’s what I thought.
There’s actually one in Tasmania. You’ll see from that link posted, that the RE agent is from there too which makes perfect sense [
]1) Quit smoking
2) Drink water, never softdrink etc.
3) Don’t drive places that you can easily walk toAside from that very basic advice, I just want to let you know that I am 25, approx $28000 in bad debt, and like you, plan to achieve financial independence by age 30.
I firmly believe I can do this (legally!) so if you have to wait another 12 months to save up a decent deposit, there’s no need to panic yet. With your drive and enthusiasm, you could probably achieve FI by the time you’re my age [
]This had me for a while… I thought you were all insane… until I realised you’re all talking about Australia’s Queenstown [
] That’s the first I heard we even had a Queenstown!My advice is just to keep looking. There are definately still cashflow positive properties out there (Steve’s book was written in 2003 I believe).
Also, while you are looking, keep reading more books
-Ian
Any opinions on buying a property without inspecting.I bought my first place without inspecting it (I only saw photos), and I would happily buy more without inspecting.
As long as you know all the numbers and you ask enough questions (like “Are the neighbours yards overgrown with weeds?”), and of course get a building and pest inspection. Some lovely photos of the place wouldn’t hurt either!
By the way, when I did finally get to see the place that I had bought, I was expecting the worst, but was pleasantly surprised – it was even better than in the photos
-Ian
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