Interested to hear from those that own in Dysart and Moranbah now. I am seeing rentals now at $500 a week to rent them out.

Can anyone tell me what was so special about Port Hedland and Karratha that make them $800k + homes that rent for so much consistently? Is there a lack of land for development? I’m trying to understand what the key features…[Read more]

Have a chat with Richard Taylor, he will look after you. He is an active member on this forum and does many of these deals in Queensland.

Niice work Matty, what were your expenses on each and how much of the work did you do yourself?

I am a kiwi living in Sydney. I currently dont own property in NZ though. My understanding is that it is easy for an Australian Resident to get finance in NZ. All of the major banks there are owned by the Australian Majors. The best mortgage deals come from NZ government owned Kiwibank though. Interest rates are comparable to Australia.

I would…[Read more]

Over the next 5 years don’t count on 5.5% interest.

Based on your $90k deposit requirement, you would only be making a cash on cash return of 9-10% if clearing $8,500 p.a.

Here is a deal in NZ for $205k in a very good central location, returning $489 per week. It is a 3 bed so you wouldn’t have the same problems financing as over 50 sqm (also no…[Read more]

Your 5 year fixed rate is actually great. They are currently sitting just under 8%.

Mortgage brokers, is there any way to sell the property with the mortgage attached at 5 yearsfixed for 6.64%? Then you could get a good price and the buyer will feel they are getting a great deal.

Alternatively you could look for a buyer that wants to do a wrap…[Read more]

I’m not an expert, but if there was nothing in writing stating that if you didn’t exercise your option to buy, that the owner would pay your costs, I don’t think you have a case.

It would be like entering into a long settlement contract to buy an old run down house, spending money to improve the value of it, but if you never settled, you would…[Read more]

Hi Joshua,

If going for an alfresco area, some designs are much better than others.

The best that I have seen have bifold doors which open up on both sides and tend to come off the kitchen, creating real indoor outdoor flow.

My favourite one that I plan to include in my dream house when I buiild it, has the bifolds on the exterior walls of the…[Read more]

What are you hoping to get out of it, if you don’t own the land? Are you just trying to stop the owner doing what you had planned to do?

Thanks Sapphire, interesting reading.

I’m curious to know if you were aware of these great deals before they happened, or have just been reading about them after the event in the newspapers? There is a big difference between having the opportunity to purchase an amazing deal and hearing about someone else’s that you never got to hear about in time.

As a Kiwi the best thing you can do is to set up their kiwisaver account with a free $1,000 courtesy of the NZ government. See details here http://www.kiwisaver.govt.nz/new/situation/under-18/

By the time they are 18 it could come close to paying their university fees if invested well.

You can also make further contributions as the parent over…[Read more]

Have watched the video Joel, great job and a very good investment.

It actually struck me that it didnt look that bad a property, just needed a few key things done to it, that made it look great at minimal cost. It made me rethink what ideal renos should be like.

Does your budget include all purchase costs? i.e. bank loan setup fees, interest…[Read more]

Yes I have seen this before. Looks like we are just about to hit the second wave. Was also just reading about Japan’s huge public debts. Really scary to think what will happen the next few years.

If you cant buy cashflow positive with interest rates this low, you are looking at buying the wrong property. A bank wont lend more than a property is worth.

interest rates increasing is a certainty, the higher they go the lower prices will be. better to not buy and have interest rates go up significantly, than to buy, get stuck unable to afford the mortgage and have to sell into a weak market as everyone else that bought with rates at lifetime lows also gets jammed.

Great work Kazwood. Do you have a trades background? I would love to do this myself but with no experience would be concerned about stuffing up the order and timing of the build.

Where did you build, what size was it (sqm) and what was the total cost (including site works etc)?

Very interested to hear.

I guess the alternative could be to hire…[Read more]

Buy in New Zealand, no LMI, no capital gains tax, no stamp duty.

You should read some of Steve McKnights books.

A key consideration will be the cost of LMI. At 20% deposit you wont have to pay any, at 5-10% you definitely will have that as an additional cost. Allow 4-5k if you buy now.

I imagine that your mortgage interest cost would be a similar cost to the rent at current interest rates?

The other consideration would be the impact of having newborn…[Read more]

The other thing to be wary of is that the hotel controls the building. Don’t count on your body corp fees staying low long term. They are likely to be able to increase them anytime they want.