Hi alexmmc
Not sure about the first part of your question, but have a talk to PropertyGuRu about finance.
Kerwyn

Hi All
Thanks for the replies.
Yes I understand why the banks say they need a buffer but how do they get their money back from the $300000 car that you paid nothing for and they loaned you the cost of car + rego + insurance etc when you can’t pay for it and it is repossessed? 6 to 12 months down the track it is worth at least 25% less than when…[Read more]

Hi All
Great advise I will try that.
Kerwyn

Hi Shelley
You have to understand that valuers are very cautious by nature they have to be careful. If they overprice a property and the owner defaults and the bank forecloses especially if the loan is not that old say with a 95% or 97% loan. When the bank analyses the figures and finds out the valuation was 10%+ over priced they are well and…[Read more]

Hi njohnson
You are right most of us on the forum are either Aussies or Kiwis.
As far as the principles taught by Steve in his books go, they will work in any free enterprise system. You may just have to sieve through a bit and take out a little colloquialism, but no more than you would reading an American property author. Apart from that you…[Read more]

Hi TerryAnneG
Who ever told you there are great deals in OZ for renting out is pulling your leg. Unless you are heavily into negative gearing I would look further a field the USA is not bad, have a chat to Westan regarding the USA.
Kerwyn

Hi MiniMogul
I asked a couple of agents if the vendor would leave 20% in a deal on some units, met with a real lot of resistence. Even more than in OZ.

I could be wrong but I have been told that L/O deals are viewed a bit better than warps but not by much, maybe try that dkfchuckles instead of a wrap.
Kerwyn

Hi Ozi
I was dealing with Johanna Russell she was good with me.
Kerwyn

Hi techhowse
Let me start by saying all banks suck, they are a bunch of rip off B*#&*##s. Now I have that off my chest I like Bendigo bank at least they are friendly and you don’t have to line up for hours.
I will tell you a story that happened to me not long ago concerning one of the big banks you know the one “which bank”
I was standing in the…[Read more]

Hi beno999
I have heared of people buying mobilehomes in caravan parks and then wraping them to other people. Seems to work as a couple of people do this all the time.
I use to live in a caravan park once many years ago and the fee you pay covers your use of all the park facilities.
Can’t see why you could not rent the van out if it is CF+ but you…[Read more]

Hi cathnniv
If you are doing wraps or L/O in NSW go with Tony Cordato at http://www.businesslawyer.com.au he is the best around.
Kerwyn.

Hi bomandlouisa
Have a look at Tokoroa there are still good deals there. Give Jenny at Lambertons a call she is good to deal with and won’t sell you a dud. NZ 07 8868229.
Have a talk to Property Guru about finance for NZ you won’t find a better operator.

Kerwyn

Hi Jenny1
If the paneling is that imitation 6 by 4 sheets you can pull off the joining strips and wall paper over the panels. If it is the redwood or pine overlapped paneling then that is a bit more difficult. If you repaint it that stuff looks like the weather board on the outside of a house. Maybe restain it a lighter colour or you may have to…[Read more]

Hi Nobleone
Looks like you have a case of the tenants from hell, kind of spoils your day. Mate! you better use a hunk of 4 by 2 I think the bat may not be strong enough.
Hope you get it sorted out hope they don’t do to much damage to the place.
I was going to have a look at that town definitely stick to Harcourts if I buy anything there.
Kerwyn

Hi Razza
I am heading that way on the 4th April on a buying trip myself. I would only be to happy to find you something good. I am already looking for a couple of other people so it would not be a problem adding you to the list. I have sent you a private email have a look.
Kerwyn.

I have just read your post MiniMogul good call, Passionate but with stile.[biggrin]

Kerwyn

Hi All
I am one of the lucky ones who has a wife who is very keen. So keen in fact that if I start watching the footy she points out that I could be looking for more property instead of wasting my time.
On the other hand my friend who is very serious about investing had a wife who thought all the money he got should be spent on the family consumed…[Read more]

Hi soum
I think I heard on the radio last year when they were talking about air craft noise that Jerrabomberra would not be affected that much as the planes would be diverted further south. It was the new suburb they are going to build that will have the air craft flying overhead. The airport board did say that the noise would be very slight as…[Read more]

Thanks for the answers everyone I got a good deal through ANZ although it was not with them. Their computers were down so they got another company to call me, they even faxed all my polices to my Solicitor in Invercargill.
Kerwyn

Hi Woodsman

You could be right but it depends on noworks ability to do the work or most of the work himself.
My first attempt was a Reno and it worked out really good: bought at $225000 spent $4000 and had it revalued at $265000 (post boom).
So it can work.
Kerwyn.