Total Members: 159,205

Ibuycashflow

  • Ibuycashflow replied to the topic This really irks me! in the forum Opinionated! 20 years, 6 months ago

    LifeX
    I’ve learned property and motivation techniques from an American guy Mark O’Haroldson over 20 years ago. He’d been doing it for over 25 years then. These techniques are not new.

    I studied objective setting and strategic planning at Uni, again the concepts are not new. To put an adjective in front of a term to make something look more…[Read more]

  • Ibuycashflow replied to the topic Calculating CoCRs in the forum General Property 20 years, 6 months ago

    Hi bashiba

    For the sake of determining whether or not a property is a good deal or not, treat the 20% drawdown as a cash deposit when doing your calculations. You are limited to how much equity you can draw down from other properties and the theory is that each deal should stand on its own two feet.

    If you can eventually revalue the property and…[Read more]

  • Ibuycashflow replied to the topic Found a new area for +ve deals in the forum General Property 20 years, 6 months ago

    Well done Afloat,

    Good on you for venturing abroad. Seems like your post just created an instant demand for properties in Manchester – now watch the CG.

    I once purchased a 2bdrm flat in East London for GBP70k in 1989. 100% finance from a building society and rented for GBP600pcm. Prices went down before they went up again but it was pretty much…[Read more]

  • Ibuycashflow replied to the topic This really irks me! in the forum Opinionated! 20 years, 6 months ago

    You guys, there are so many people out there willing to express their opinions, especially on making money.

    If you want to learn how to be a millionaire – ask a millionaire. (or should I say self-made millionaire so as to exclude those that have inherited or won it).

    The motivational books are there to motivate people and make a buck for…[Read more]

  • Ibuycashflow replied to the topic Just Getting strated,Any advice appriciated in the forum Help Needed! 20 years, 6 months ago

    Hi Joni,

    Try http://www.quotable.co.nz

    You can get info on individual properties such as rateable valuations and sales hitory.This is for a small fee via credit card.

    They also provide a demographics report on the area for free. Worth a look anyway.

    You live in Nelson you should try looking there first. Nothing like your own backyard. Look for the…[Read more]

  • Ibuycashflow replied to the topic taxes when investing in NZ in the forum Help Needed! 20 years, 6 months ago

    Remember, a trust or company are taxable entities in their own right.

    A NZ Trust would be taxed as a NZ entity in NZ. Distributions from that trust to say, yourself as a beneficiary would be taxable according to your place of residence – in your case Australia unless you were to move to the Bahamas or something.

    There would be some form of…[Read more]

  • Ibuycashflow replied to the topic Getting Started in Commercial Property in the forum Help Needed! 20 years, 6 months ago

    The entry level for commercial property is higher than residential and therefore a greater deposit is required.

    Most of the larger property investors make their money from commercial rather than residential. It is easier to look after fewer large properties and hence less tenants for better rentals.

    Commercial tenants look after your property…[Read more]

  • Ibuycashflow replied to the topic Should I Sell? in the forum Help Needed! 20 years, 6 months ago

    Okay guys,

    Just turned down the offer of $850k because I decided I needed to find a better property or investment in order to move my money.

    The agent is now desparately firing properties at me to look at so as to make the deal work – absolutely amazing what this commission selling does to people.

    Anyway, you never know, he might just come up…[Read more]

  • Ibuycashflow replied to the topic Spotters in the forum Help Needed! 20 years, 6 months ago

    I think minimogul charges $1500 flat rate for the bird dogging efforts.

    2% is extremely generous. I might look out for some for you myself.

  • Ibuycashflow replied to the topic taxes when investing in NZ in the forum Help Needed! 20 years, 6 months ago

    Hi again Jamestk

    Capital Gains Tax doesn’t apply in NZ but may if you repatriate gains to Oz. I Suggest you set up an NZ structure ie Trust or Company.

    Entry Fees on purchases are minimal – legal and finance mainly. No stamp duty. Of course you have the usual expenses as council rates and building insurance.

    Exit Fees will include real estate…[Read more]

  • Ibuycashflow replied to the topic The right Trust for NZ in the forum Help Needed! 20 years, 6 months ago

    I suppose your whole problem is being concerned about being sued. If you don’t do anything wrong you won’t have that problem.

    I have property in company structures, trusts and in my own personal name, mainly for tax reasons. This way I could never lose the lot but I may lose some if worse came to worse.

    Cheers
    Jeff

  • Ibuycashflow replied to the topic Property Investment Software in the forum Finance 20 years, 6 months ago

    Hi Susan
    Try http://www.dolfderoos.com for his REAP software (Real Estate Acquisition Programme) it’s an advanced version of PIA and you can add a picture and send it in pdf format. It will provide you with graphs, internal rates of return, cash on cash etc.

    However if you know anything about spreadsheets MS Excel has all the financial formulae to…[Read more]

  • Ibuycashflow replied to the topic WHERE can I look for positively greared properties in the forum General Property 20 years, 6 months ago

    Hi Craig,
    There are deals all over the place you just have to think outside the square.

    There are various ways of improving the cashflow of a property which won’t be obviously present. For example, splitting a property to make two residences; adding a minor dwelling; converting a garage into a sleepout or granny flat; subdividing off a piece of…[Read more]

  • Ibuycashflow replied to the topic D-Day in the forum General Property 20 years, 6 months ago

    Happy Birthday Steve and congratulations to you both for your milestone.

    It’s nice to have such a sizeable passive income and now perhaps, more time to spend doing the things you want to rather than have to.

    I hope you managed to lock in the interest rates on some of your mortgages. It’s amazing what a 1% change can do to your passive…[Read more]

  • Ibuycashflow replied to the topic Getting out of a mess!! in the forum Help Needed! 20 years, 6 months ago

    Blueroc,
    I believe the “capitalising of interest” that many property investors were doing only went to court for a ruling last year. I read somewhere that the NZ Tax Dept (IRD) was watching the outcome of the Australian Tax Office court case closely. Try checking the ATO’s website for some info.

    Regarding property in joint names. When property is…[Read more]

  • Ibuycashflow replied to the topic Should I Sell? in the forum Help Needed! 20 years, 6 months ago

    Kay Henry, thanks for your post. I’ve been buying cashflow for years as the nickname suggests. However, there are rare occasions when I have sold properties and occasionally I have regretted the decision.

    Kiwi-Fulla suggested getting the property revalued but I’ve already been down that road. The $850k offer is a premium above what a valuation…[Read more]

  • Ibuycashflow replied to the topic INVESTMENT PLANS in the forum No Subject 20 years, 6 months ago

    Three questions you should ask yourself in the following order – and put it all in writing.

    1. Where are you now? – present situation
    2. Where do you want to go? – goals and objectives
    3. How do you get there? – the plan

    Remember that when you set your goals they must be achievable, quantitative and include time constraints (eg I want to own 4…[Read more]

  • Ibuycashflow replied to the topic Should I Sell? in the forum Help Needed! 20 years, 6 months ago

    Thanks Derek for your thoughtful input but alas no, I’m not working the Pub – I’d be drinking the profits.

    Anubis, I’m tending your way. Might just hang on and go through the rent reviews. G7 made a good point, I could always countersign at $900k + and see what happens. Will probably be asking the same question again though.

    I’ll have to drink…[Read more]

  • Ibuycashflow replied to the topic where to buy in NZ in the forum Help Needed! 20 years, 6 months ago

    Hi James,
    Another site to check out for NZ property is http://www.open2view.com Most of the real estate agents advertise on this site as well as their own.

    There are a couple of “hot spots” in NZ, Queenstown in the South Island and Mt Maunganui in the North. The areas command low yields but growth is phenomenal.

    Westan seems to have the NZ market…[Read more]

  • Ibuycashflow replied to the topic banks and finance in the forum Help Needed! 20 years, 6 months ago

    When the bank manager told me the serviceability was tight I asked to see his claculations. I found he had not correctly put all my income into the nifty little cashflow spreadsheet. He also made a snide remark about my income compared to his own. A touch of tall poppy syndrome perhaps?

    Embarrassed as he was he still rejected my loan application.…[Read more]

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