If you are looking to pay your house off quickly then I would suggest browsing over a couple of books by – Anita Bell.
– Your Mortgage and how to pay it off in5 years (buy someone that did it in 3)
– Your money (Starting out and starting over)

Every $10 extra paid off your mortgage, saves $1,000 over the life of the loan.
cheers
Kiwi

You could rent to own the property of the owner for say 4-5 years.

Pay the landlord $220/week (and you have the right to sublet) and agree on option price of $180K. (more than it is worth now … but hey you have 5 years for the market to catch up)
Put up $5K for option fee…… Then you can apply for a low interest loan to do the repairs, keep…[Read more]

Originally posted by kiwiduvet:
If you can finance outside of NZ it would be better as NZ now has the highest interst rates in the developed western world

Hey there…
This is all good however most offsore lenders will only back upto 80% ….. so if you come fro mthe school of the less money I have tied up in the deal the better … then you…[Read more]

Q1:
You can get around CGT ruling if you have set up an entity in NZ and the income stays there.
If you wish to go down that path … PM me and I cna give you a contact that specialises in this type of structure.
Cheers
Kiwi
[baaa]

Hey There,
If in NSW you have 7 working days cooling off … so you can get you due dilligence done in that time and still call it off.

AS a habilt though it is a good idea to put in offers subject to satasfactory due dilligence as a condition. If they do not accept that then the property is possibly suspect anyway and it is not worth spending…[Read more]

you can either… beleive what a real estate agent says … (YEAH RIGHT)…..
Or research yourself to find the truth.
Cheers
Kiwi [baaa]

jsut go to a solicitor and they will draw up an option … alternatively there are lots of products out there in the market place with templates for option and lots of other legal tools.
Cheers,
Kiwi[baaa]

Hey There,
We did it for our first proeprty… and all was going well until we struck a snag and I did not feel comfortable going it alone in case we were buying a lemon……. However I would do it again as it is not that hard really. DIY Kit cost me $150.00 and the solicitors were avaliable for assitance witht he kit … however not for advice…[Read more]

Derek has some great input there!!!

Heres another idea!!!… or 2

Lets say the property is renting for $175.00/week.
Your so called agent is raking (or was in this case) say $18/week + initial fee of 2 weeks to get someone in there.
That is $1286/ annum for someone to do the job for you.
How about offering an incentive plan to your tennants you…[Read more]

Chris is great and very dilligent in his practice. He has been fantastic assett in my Team of advisors.
Cheers
Kiwi[baaa]

Hey There,

I did my complete kitchen and also ran a strip above the bench and also put in stainless splashback.
I simply drew up my design and measurements and then looked up the yellow pages for sheet metal companies.

You can get different grades of stainless material and thickness choices make a big difference to the finished product…. if…[Read more]

Originally posted by McHenry:

Do you formulate your figures on a price mark up and charge a premium to std interest rates or merely a price mark up funded at the equivelant of bank rates ?

How big a mark up does the market accept ?
Set percent ?
Set dollar figure ?

I am looking at properties around the 350-400k mark.

Thanks

Henry

Hey…[Read more]

Hey Benderfile,

Well you found the right place for a sounding board!

Hope all goes well for you and if I can be of assistance please let me know!

Cheers
Kiwi

Hi Henry,
Good Question…..

Hope this answers it for you and puts the lights on.

You have to understand the type of market you are attempting to market a lease option to. These people fall into one of these catagories.
1. No Deposit or not enough.
2. Deposit but damaged credit (So lenders will not touch them)
3. People desperate to get into the…[Read more]

Hey There….
Could I suggest a possible start ?????
Work out what you want.

Could be
…. freedom from the daily grind
…. Financially free (Passive income = your expenses)
….. Spend more time with your loved ones or freinds.
… to had more spare time so that you have more choices….

once you have worked out that crucial part … you need…[Read more]

Couple of suggestions prior to committing to a property.

I have wrapped a fewproperties @ over $360K (puchased @ 310K)

There is no fixed formula as you are dealing with some pretty big numbers with repayment and the like….
You need to.
– Test the market by perhaps running a couple of adds (when you get the calls …. you can say that you have…[Read more]

Another couple of suggestions:
find an experienced spotter to do all the work and you setup from there….
– don’t put all your eggs in one basket…
– Don’t sink all your cash into one deal
– Start small (so you can sleep at night)
– Know your limits and build a team around you with the skills knowlege you may lack in.[baaa]

Once you gain…[Read more]

Hey Don & Liz,

What can you do…. If people keep bagging the place … theat means the more for us!
:o)
Cheers,
Kiwi.[baaa]

Hey,
If you are still having a proplem…..
You could try running a few adds in the local paper:

1 Advertising with a twist….. 2-3 weeks free rent… this way you can keep the rent price up there.

2. Perhaps advertising to rent to own…… so they can rent it and build deposit up until they have enough to finance it (Increases your return by…[Read more]

We found that getting an NZ broker…. helped us:
– Get a top NZ bank to fund us
– Better interest rates than AUSSIE
– 90% LVR (less of our capital required)
– They negotiated at the last minute to waive all application fees!
– They were fast…. We had already committed to a property and need action fast… and got it in Spades!
-If you want to…[Read more]