Here is the link to the post.
Bit long winded but as I recall it details the Gtn purchases:

http://www.somersoft.com/forums/showthread.php?t=21333

kp

Originally posted by Dr.X:
Just wondering why the people in the mentoring program don’t want the help of others?

Supposedly, they are doing the program becuase they need help with investing!

I didn’t do the program because, I am at a level where I “think” I know what I am doing!

Wouldn’t it be more advantages for them if they allowed the…[Read more]

Has she had experience organising finance for Hybrid Disc. Trusts, as well as lo doc and no doc finance as well ?

I need a really experienced and clever broker in Perth or else I will have to resort to one of the better guys over east.

kp

I cut and pasted the following from another post ( in case it does not make sense)

Gee I hate to butt in as I know nothing about NZ, but how does 7.5% equate to a good return.??
I mean, what are the interest rates currently ??

For what its worth, I am still buying in Oz where I can get a rental yield of 12% on residential, with an investor…[Read more]

I would suggest that you are about two yrs too late.
Check out the post on Somersoft by Karina who has been buying for some time in Gtn. by remote control from Sydney ( I don’t think she has ever been to Gtn.)
I’ll see if I can find a link.

There were heaps of eastern states buyers in the Gtn. market a couple of years ago, and they have enjoyed…[Read more]

Gee I hate to butt in as I know nothing about NZ, but how does 7.5% equate to a good return.??
I mean, what are the interest rates currently ??

For what its worth, I am still buying in Oz where I can get a rental yield of 12% on residential, with an investor achieving around 8.5% yield on their investment.

On top of this it is possible to get an…[Read more]

At first I was thinking “Great…start a quarry, theres dollars in limestone blocks….’

I have built a few in Perth with spec builders.
The worse one I had was where the builder did the siteworks and laid the slab, then discovered that the sewer line was to the front of the block and that it was uphill!
They suggested I needed to install a…[Read more]

You don’t always have to buy off the plan as a non resident.

You can buy vacant land and build.
You can buy commercial, industrial, and farm land.

It is possible to buy in the name of an Aus registered company, but if you are buying established residential, and the company is investigated, they may prosecute on the basis of attempting to bypass…[Read more]

Is the proposal for him to buy one as a passive investor, or is he trying to sell it to you?

If you wanted an opinion from someone who prefers to build and therefore capitalise on the difference between cost and market price, I would say, do your own.

On the other hand, if you are a passive investor who does not want the hassles and headaches in…[Read more]

In fact it goes beyond that.
You also have to commence construction within 48 months, and cannot resell the vacant block.
Also the planned dwelling has to be vetted by the developer before it is submitted to the council for approval.

So the conditions are pretty onerous, to ensure that the blocks are not held as vacant land for too long, and the…[Read more]

I have been away for the last 10 days so have only just seen all the replies…thanks Qld007 for the good suggestion.

While I was away, I did attempt to get an opinion from someone who I thought would be an expert ( solicitor) but to no avail.

There are two parties to the deal.
The local buyer who has first right of refusal to buy a block, which…[Read more]

Geeze, I’ve been away for the last 10 days and missed all the excitement over this post.

Good to see so many ppl got in.

I took some pics too, but all I got was a big sandpit, with dozers and water trucks going round and around.
Ausprop, how did you manage to stand on your block ( and how could you identify it ??)

Maybe I was looking at the…[Read more]

Heck, you didn’t expect it to come for free did you ??

Look on the bank as your friend that allows you to leverage into property/ies.
They need something in return for this favour.

Maybe look at the bigger picture ( and therefore the smaller figure)
Thre rent and tax savings will offset the repayment / interest and other property expenses.
Look…[Read more]

Hmmmmmm….
Now you’re stretching the friendship.

Why not just issue a receipt out of a ‘receipt book’ bought from the local newsagent or stationery shop?

Otherwise, type up a doc on word to this effect:

Heading: ‘Security Bond Receipt’
Received from < John Doe > the sum of $xxx.xx being for security bond for the property at < address > rented…[Read more]

How dare they !!!
What do they think…they have rights???

Seriously, the tenant is entitled to a receipt for the bond, as well as for the rent they pay.

In WA it is possible to open a ‘bond’ account at a bank and lodge the security bond there.

If this is possible, then provide the tenant with a copy of the credit statement for that…[Read more]

I guess its best described as a strategy to buy a property with the intent to immediately resell it for a profit.

In the case of a vacant block of land in a new subdivision, there is quite often a delay from when the land is released, to when the title is clear and available, for you to settle on the block.

Quite often the price of the block has…[Read more]

Originally posted by redwing:
Hi KP, Marisa etc..

How ARE you affording all these blocks???

Are you “flipping” a lot of them, how about costs incurred etc??

REDWING

[/navy][/url]

Hi Red,
I can’t speak on behalf of the others, but I haven’t flipped a single block yet, and its not my plan to do so.
I am buying with the intent of building on…[Read more]

If you want to vary the percentage ownership, you purchase as ‘tenants in common’ and stipulate the percentage each party is entitled to on the contract.
Also allows for that percentage entitlement to be willed to another party other than the other tenants in common on the contract.

You are also correct in that ‘joint tenants’ allows for…[Read more]

Wayne,
Really, do you need cash?

Based on what you have experienced in Ocean Lagoon, what is the prospect for cg at Capricorn between now and settlement in 11 months time?

There is always a way to finance a property purchase.

And yes, the deposits seem to be increasing, ( Singleton was $1000) and the conditions seem to be getting more onerous…[Read more]

Well I am happy to say I got set as well, thanks to Ausprop.

Thats a funny story in itself……

I tried for lot 61, 62 or 68….but they were all sold.
Ended up with lot 56.

Not sure about living up there, but am confident of good cg between now and the ‘clear title’ date.
As long as construction prices don’t keep rising as much at the same…[Read more]