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  • Profile photo of jamestkjamestk
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    June 9, 2004 - 11:57 pm

    well i hope you are all correct as you are clearly supporting NZ.

    the graph makes me suspicious as it looks remarkedly similar to trends i have seen in the stock market and when prices spike like this they inevitably are followed by a “correction”. only time will tell and as usual i will just make sure i have a buffer to ride me through any downturn.

    so its business as usual, time to find a place in NZ :)

    Profile photo of jamestkjamestk
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    June 9, 2004 - 9:16 am

    i have an IP which backs onto a park and it was a selling point for me as its great for a family with kids. you can put in a gate to the park (with a padlock of course).

    A dog, alarm, or security lighting will eliminate the threat of thieves…a dobermahn will do the job :-)

    When you go to sell your IP you demonstrate the alarm etc and i dont think there’ll be a problem. Security systems are cheap these days and i believe they add value.

    Profile photo of jamestkjamestk
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    June 9, 2004 - 8:46 am

    hi guys,

    I focus not so much on money but simply how many properties i can purchase! As long as all the properties generate enough cash flow you can basically just keep buying. I mean really after say 10 years you know youre gonna be well ahead anyway.

    So, my philosophy is to buy buy buy in areas where i think that even if CG isnt awesome at least the tenants will service the loans for me in the meantime.

    A good time to buy another house is when you can ??? I try not to over complicate things.

    Hope this helps :-)

    Profile photo of jamestkjamestk
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    June 7, 2004 - 8:47 am

    bla bla bla……….just make sure you always have buffers in place and dont have all your properties in the one location. rates will rise, markets will plateau, just keep em rented and service the loans. have a buffer in place that will cover a few rate rises and its all good :-) if you have the buffer you will know in advance when its either time to refinance or get out.

    always know what you have up your sleeve, its simple

    Profile photo of jamestkjamestk
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    June 7, 2004 - 8:32 am

    this ought to close this topic…..im a renter and 200% proud of it. i get to rent a 1 mil + home, 5 mins from Sydney city centre for only $600 per week. after renting out 2 rooms and having my business (home office) pay rent i pay less than $100 per week personally. obviously this frees up all my income to buy IP’s. why the hell would i commit to a RIDICULOUS mortgage for a PPOR in Sydney (not deductible) when i can rent one for virtually zero dollars??????? in the next few years i will probably sell all my IP’s and buy my Nth Shore PPOR with cash. PPOR loans are a rip off especially in Sydney. obviously those of you with families may find it difficult to rent i understand but renting is a bargain!

    btw i understand everyones sitch is different but i think its fair to say most PPOR loans will own you rather than you owning them. so, i like to own my investments rather than them owning me :)PPOR loans make me feel trapped ???

    Profile photo of jamestkjamestk
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    June 7, 2004 - 8:17 am

    hi guys,

    wow that was an interesting read. i think Nat perhaps sees some people as clowns where maybe they / we just don’t quite know as much as her about the finer details. she should perhaps take less informed people under her wing and help them rather than ridicule them. it’s always easy to pick on easy targets but perhaps more challenging not to??? Life can be so much more rewarding when you actually contribute something positive.

    Nat, i think you and i should hook up so i can put you over my knee and give you the spanking you’re looking for [evil4]….lighten up

    Profile photo of jamestkjamestk
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    June 7, 2004 - 7:41 am

    Hi Steven,

    Can i open this NZ account from here in AUS and then simply access it via the internet? Can i also have them send my statements back here to me in AUS?

    i guess i would just have Wizard direct debit the NZ account for the mortgage repayments right?

    Profile photo of jamestkjamestk
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    May 20, 2004 - 10:29 am

    Hi Sarah,

    Welcome to the site. 18 months ago i was in the same position as you ie not quite a large enough deposit and no homes in my portfolio. In the last 12 months i have bought 2 properties and am about to buy a 3rd and 4th.

    My advice to you is this;
    – Stay focused and let nothing distract you from your goals
    – Read, read, and read books
    – Save EVERY penny you can. might seem you are missing out on the “good times” but those “good times” will still be there to be had later
    – Don’t listen to negative people…in fact don’t even associate with them
    – Surround yourself with people who are positive and encouraging

    And finally buy as much damn real estate as you can get your hands on [evil4]

    good luck,
    James.

    Profile photo of jamestkjamestk
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    May 12, 2004 - 5:40 am

    Governments SUCK!!!

    I wonder if your land in NZ was owned by a NZ trust of yours would the CG still need to be paid to out GOVT….its a good question can anyone answer it???

    Profile photo of jamestkjamestk
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    May 12, 2004 - 3:41 am

    thanks Jeff,

    can anyone answer this question “Capital Gains Tax doesn’t apply in NZ but may if you repatriate gains to Oz” ?? Will anyone charge me CG if i bring my profits back to OZ?

    Cheers.

    Profile photo of jamestkjamestk
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    May 10, 2004 - 11:18 pm

    thanks Steve,

    I think given the state of the Aussie market right now i am going to have to use IO to cheat and make some properties positive. Also am considering converting my others to IO in order to gain access to more funding. Any major pitfalls to IO i should be aware of?

    cheers.

    Profile photo of jamestkjamestk
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    May 10, 2004 - 7:28 am

    thanks for the info westan. let me know if you come across anything that may be of interest to me over there :D

    Profile photo of jamestkjamestk
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    May 10, 2004 - 12:59 am

    hi guys,

    allow me to be blunt. I HATE OUR BANKS AND AVOID THEM AT ANY COST!! I use Wizard as my lender of choice and go with ING who are fantstic…check them out.

    Profile photo of jamestkjamestk
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    May 7, 2004 - 7:57 am

    hi rags,

    a property i am about to put a deposit on is exactly the same as yours in every repsect. Although ive committed im STILL not sure if i should have. Having said all that it is still the best damn deal i can find anywhere so im just gonna run with it. What the hell i do with it after ive bought it is another thing.The fact remains we still have to put in 20-30k to get it which perhaps could be more useful elsewhere ie paying off my home mortgage. After some basic math and i mean basic i THINK i stand to gain more from buying the second property. Problem is i dont want to have to come up with 20k every time i wanna buy another peoperty…what to do???? its so hard to find good enough deals with so many invetors out there isnt it :-)

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