Forum Replies Created
It`s understandable he is a little annoyed and looking out for the sellers best interest.
I would guess you have been misinformed regarding the vendors being overly anxious to accept offers.
If the house is overpriced by that kind of margin and they needed to sell, surely they would drop the listed price in order to attract more buyers.
Most if not all sellers would be extremely angry about such a low offer imo.[
]Chan$ 9% in Logan, seriously, I`d jump on those real quick!.[
]Are you saying the seminar was free Melbear?, I am talking about paying big dollars for information which is fast becoming obsolete anyway.
Of course I have guidelines when I buy a house, things I look for, but to go into a purchase blindly believing there is no risk is unthinkable to me and extremely blinkered.
There is always risk involved no matter how much due diligence you use and no matter how much cash you have spent on seminars and PI kits, besides who says you will even be capable of following the guidelines to the letter.
Of course you can learn much from others but to pay huge prices for information and blindly believe it contains a supreme secret to make everyone financially free is a little naive.What on earth has fast food got to do with PI?, do you offer your tenants free burgers if they pay rent on time?.[^]
And Melbear, I think you are studying Ronalds technique a little to closely, wrapping and flipping properties just ain`t the same.[
]I wouldn`t pay the high fees anyone is charging for a “kit”, that is laughable and rarely attend seminars, and no never a Henry Kaye one.
Believe nothing that you hear and half of what you see.[]
Trial and error is the best learning method.
Of course some small % of people who buy these kits and attend seminars will benefit, (the early bird gets the worm) but within the next year or two I think you will see the vast majority don`t.[]
If you need to ask a valuer the value of a property you should not even be investing in the first place Melbear.
Lastly Melbear have you invested in NZ?, what would you consider “due diligence”, with regard to buying there?.
Due diligence could entail anything, how can anyone give you guidelines for such a thing?, there must be times when you “take a chance” on certain aspects of a purchase, R/E does not work like this.
This is like saying use due diligence when driving, it is intangable, how can you predict what other people are going to do on the road?, I would go as far as to say people who use due diligence to the extreme on the roads are by far the most dangerous, good corrolation I reckon.[]Muppet why would there be a sudden influx of NZ moving back from Oz?.
The fact that people on the dole are being discouraged from living in these towns is good?, I would have thought it`s a death sentence for that type of place.
How much is 18% of nothing when there are no tenants in a yr or two and you can`t sell?.
Muppets your posts seems to be a bit contradictory, you seem to be pushing buying in these areas but say the schools are closing down?.
Sorry guys to sound negative but this whole NZ investing line reeks of herd mentality, in fact after all I`ve read I`m totally in disbelief that at this point in the market you guys would buy there for any price.[?]
In all boom and bust cycles you have casualties and this whole idea appears to me to be a perfect example of how you can lose so much money so quick it makes your head spin and leave you wondering why on earth you didn`t see it.[]
Hope I`m wrong.[]Melbear, just go to the yahoo search engine and type in Henry Kaye.
He lined his own pockets by recruiting vulnerable investors at his seminars and sold them properties he purchased in bulk using false promises of discounts, massive capitol gain with no money down.
At the end of the day you will find as usual with this type of guy many disappointed investors out of pocket in some degree and HK running off like a thief in the night with a big bag of money and proclaiming none of it was his fault as the banks undervalued the units etc etc etc. []http://www.theage.com.au/articles/2003/09/21/1064082867568.html?from=storyrhs
You say he can`t be blamed?.
If he did do what they said he did he most certainly IS an idiot.[]I think this would be the case quite often.
This is a worry for everyone rich and poor.
I think society will pay if the gap gets too wide between the rich and poor.
Charging too much or ripping off tenants only makes matters worse .All you can do is be fairminded with tenants which means not buying so many houses that you are under pressure in order to become the next property tychoon.[V]
I think keeping rents a little lower than average and looking after your tenants to your best ability is really a benefit all around.[^]
If someday you are in a position to help someone out who deserves helping, why not lower the rent or help them out.[]Kay this is the thing, rental properties can quickly consume a lot of time, thought and effort and become a full time job, and we are now scraping the bottom of the barrel with regard to CF+ properties.
I`m not saying it can`t work right now, but I certainly ain`t going out buying ten properties right now…..ignorant?, dumb maybe we`ll see but I`d prefer to have no more than 2 CF+ houses in Aussie right now and certainly wouldn`t buy overseas, let alone sight unseen.[]
The earlier you get in the better, the more equity you have the better, but we are fast approaching the point sooner or later investors will be buying CF+ houses in risky areas and exposing themselves to risks which they may not clearly consider.Kay it may be they are selling due to they are getting good money right now![
].I never said Minimogul was a Minimongrul, just that the idea that you could lose out is being completely disregarded, if someone was prepared to hold these properties long term with no +CG if it came to it, I`d say it would be worth considering.[
]Mini, I see faults in your argument, but I could argue all day, just think about the general concept that if you had a property and the value went up 100%, IF IT WENT UP AT ALL, then dropped by 50% you would be broke!.
All your opinions seem to cling to optimum market conditions, this can apply to rents, population whatever, the more houses you have the more you can make… sure, but also you are more and more vulnerable imo, especially in the current market.
We are now nearing a point in the market where this kind of calculation will start to boggle more than a few minds as they veiw thier empty pockets.[]Even Dolf Deroos who is probably the most well known guru to expound the thoeries of investing overseas warns against doing it till your experienced and have a significant equity close to home!.
You also tell people they can get an Aussie loan and switch it over later?…..more costs, not a good habit to get into.
Sounds great Mini, but you said 8 weeks would be worse case as far as vacancy?, how do you assume it won`t be 30 weeks?.
More than a few have said NZ R/E is in a similar position to what Aussie was 2 yrs ago but I don`t believe that to be the case, but I am no expert on NZ.
As far as buying sight unseen….that is something I would NEVER do.
I think Sydney generally IS an indicator for the rest of the country and I do believe whats happening in Auckland will likely happen all over NZ, why…. too many investors!, but then you said prices would go up????[], prices may drop to the point you can`t give houses away, as soon as it becomes known investors are bailing due to lack of tenants and minimal if any gains, in fact I`ll bet 12 months ago these ones you are buying were.
Also I understand that when you bring your money back to OZ you DO pay tax!.
Steves idea was great before the boom, but he didn`t invent it, it is basic knowledge to anyone experienced, in fact I never went along with -CF ideas.Good luck with it but personally I would buy in Tassie before NZ. [
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], prices may drop to the point you can`t give houses away, as soon as it becomes known investors are bailing due to lack of tenants and minimal if any gains, in fact I`ll bet 12 months ago these ones you are buying were.
