Thanks to all for the feedback.We got appraisals that came up quite well with respect to what we paid. One was actually a lot higher! But you can only get what someone is willing to pay you for them. For those who sold, did you get prices close to the appraisals?What are the sales costs?We bought through Dan, and had our dealings with Seth, so we…[Read more]

ChadThanks for the info. Yes, we paid retail with about a 20% gross ROI. To be honest we have been reasonably lucky with the returns though we were hoping for better. Financing was the hardest nut to crack. That took over a year and I still feel we were made to jump through hoops for big fees.CheersJJ&Jo

thanks for the advice guys. That gives me all i ned to know to get it done.
Cheers

JJ&Jo

We have a few properties in Buffalo and so far it has been a fair return. Not as good as expected or as hoped, but nevertheless worth it.

We have had appraisals done recently after about 1 year and the prices have gone up probably 10% on average with the best being 23%! A couple of others actually went down a bit so it depends on tha area the…[Read more]

Great news Solomon! We did the same last year, twice! I’m looking forward to further news from you as to how things turn out on your trip.
Cheers
JJ&Jo

Thanks for the replies. It seems caution and research is the best approach.

Cheers

JJ&Jo

Partner A claimed the tax benefits. But I think because it was occupied for part for some of the time it is not subject to CGT. But we will check.
thanks

Thanks very much for the advice. How would we factor in the rent free period? I can value it easily, but I’m not sure how to include it in the calculations.
Thanks

Simon
Thanks for the advice. It is family, so we just jumped in with no idea of any issues down the track. A written agreement up front is the only way to go.

Cheers

JJ&Jo

Simon
The only agreement was that they would share in any capital gain if one was realised.

JJ&Jo

Steve

I heard it said at your Seminar last Sunday and forgot to put it as a question!

Thanks

JJ

It should not cost more than say $3k-$5k. But the impact on the price of the IP could be close to $20k. Well worth the effort!

Good luck
JJ

A good place to look is Residex. They have the statistics for many postcodes for the whole of Australia. You can select it by the top 10 growth areas for example. But it is not a clear indication of what will happen in the future.

Good luck
JJ

Aptam
My experience in NZ is that you can no longer buy +CF proerties with decent net returns. You have to do something a bit more creative to get them to be viable.

In answer to your question, A lot of peopple are buying them at about 10% in the hope of capital gains. Speculators. Over the last few years that strategy has been quite successful.…[Read more]

Save cash and gain knowledge until you are able to do something. Then start out small, so the risk is not huge. You can still find opportunities for under $100k.
Good luck
JJ

Dear Redfish

Make sure you are aware of the council regulations in relation to the minimum dimensions for subdivision. Go to the relevant council and ask the planner if what you want to do is feasible. Depending on where you are, there are a lot of council charges for each approval. In the northlands district you are looking at about NZD…[Read more]

To the best of my understanding, the bond can be used in lieu of unpaid monies. To this point, you need to apply to the rental bond board and state your case. Your managing agent may also be able to help to facilitate this process.