Hi Mark,
great to see you posting on the forum. I had a question – would a spotter’s fee be tax deductible for an Australian?
Also, would an ‘educational’ trip to NZ such as a seminar or training day, even if you didn’t own property there yet, to learn about property investing over there – be tax deductible?

And if so, how would the tax…[Read more]

kerwyn, sorry to hear about all that.
yes, the dreaded cash-clause. I never accept it because of what you said!

now my only comments are: the cheapest properties are cheap for a reason. lots of work needed, bad street, etc

and also that Invercargill, complete with a 12 year history of population decline and a horrible climate, is not the only…[Read more]

Tip #7

Look at building options as well, whether that be adding another bedroom, relocating or building a minor dwelling onto the site, a granny flat, moving a bach onto the site, building a unit on the back, and things like that.

This strategy can work really well in a growth area where houses are say more than 100-130k each.

You may be able…[Read more]

drop the rent, get someone in quicksmart, better than vacant. Things will change within 6 months, you’ll be OK!

NZ Investor and Bird Dog

Tip #6

The less you know the market, the more locals you need to enlist to bounce ideas off. Ask the girl or boy at council (i.e.) what she thinks are the good streets, the bad streets. Ask your building inspector what they reckon. Talk to a rental manager NOT connected with the sale of the property. Ring up the cops.
The more you can keep people…[Read more]

yes re internet telephony, SKYPE is another one

skype.com

Tip #5

Talk to a rental manager in the town about what lets well – what they can’t get enough of – and what they have a surplus of, good streets, bad streets, BEFORE you go and look to buy.

NZ Investor and Bird Dog

Tip # 4

This has saved me $$$$$$

Often when purchasing CF+ve houses in NZ, they don’t have curtains – you will even see tenants putting nails and pieces of material up!- or they have scrappy ones half falling down which you need to fix up especially if you have painted etc. So my tip is – which my partner and I invented ourselves one day at…[Read more]

yes exactly wilandel, a new old people’s home has gone in, private sales, houses for rent, special on curtains, talks of the Warehouse opening up, jobs on offer, just to get a vibe on how the town is doing, etc.

Sometimes you can respond to information in the local paper by investing!

Some of the information might not necessarily make it to the…[Read more]

Tip # 3

Network with like-minded people who are sucessfully doing what you want to be doing.
And the flipside of that is, don’t take on board comments from people who don’t understand what you are doing, or aren’t doing it, however well-meaning, especially at the beginning or until you are really sure of yourself.

NZ Investor and Bird Dog

Queenstowner, I would agree with that, good advice – don’t buy without checking council in some shape or form – BUT I am surprised that you found something in the council file that was NOT in the LIM – can you disclose what that was, even if in general terms?

cheers-
Mini

NZ Investor and Bird Dog

Lucifer, I agree with everything you say.

I have actually also used a bird dog myself in Australia to purchase a property in an area I was unfamiliar with. He wasn’t “qualified” then,
except by being a millionaire property investor who specialised in a particular area I wanted to buy in. (but that’s not a ‘qualification’ by whasshisface’s…[Read more]

> I consult professionals such as solicitors and accountants and financial
> planners when I need their advice.
same here, solicitors and accountants, but I don’t consult financial planners, for reasons already discussed.

> If I want a property, I go to real estate agents.

same! (um, duh….)
I also go to find private sales. Either through…[Read more]

Hux,

“I suppose if we are buying run down houses, doing them up and just asking a fair rent in return ”

Indeed. That’s exactly what I’ve done, apart from one when I got lazy and didn’t do a sot to it!

Believe me, I have been in tears at a loved one telling me I was ‘ripping off the poor’ – this loved one earns several hundred K a year, and has…[Read more]

Before you dig the disagreeing hole too deeply,
let me put it another way:

what ‘professionals’ do you consult (if any) to make your investment decisions? (with the assumption from your post that you consider yourself a “sophisticated investor” – and apologies in advance if I am out of line with this assumption)

also, what ‘professionals’ do the…[Read more]

Qualify, schmollify.
Tell that to Bob Dylan, the beatles, Jimi Hendrix, and, uhm, Jessica Simpson.

“where’s your music degree, Bob?’

Steve, death by disclaimer! I geddit though.

Qualifications are for EMPLOYEES remember, not entrepreneurs and investors.

Sure, use an accountant, a lawyer, a building inspector, but don’t get investment advice…[Read more]

Tip # 1:
You can often ‘sneak’ the information in the LIM for free by going to the council and viewing the file.

Tip # 2:
It is often what is NOT in the LIM or council records that is as important than what is in it.

OK, you have your building line restrictions etc, but is that garage/fireplace/extension permitted?

If not, what are the safety…[Read more]

I can also recommend DD as a spotter in Queensland. He is a legendary investor in his own right, and I have been privileged to spend the day with DD and his investing partner, where we compared notes on spotting, deals, and so on!

I can also confirm that he is a qualified financial advisor, extremely knowledgeable about the areas he spots in, and…[Read more]

“3. The rent returns were not great in Queenstown – about 4% and house prices were high.”

Yes, and you’d say the same about Byron bay, if you get my drift – which is, yes, beautiful, yes, desirable, yes, demand, yes, capital gains, yes, lifestyles of the rich and famous, and yes, negative gearing.

but if you want that kind of investment you…[Read more]

Has anyone done this before?

-yes, me, I’ve written quite a few posts on it on various bird dog threads, have a search using the search function

-Are there any legal obligations?

yes, I’ve explained elsewhere how I do it, but others say it is illegal here without a licence, etc etc depending on how you define what a ‘bird dog’ does. I define it…[Read more]

KPI magazine…I loved it a year ago, just devoured it. These days every time I get an issue I ‘eat it’ but still feel hungry, if you get what I mean. Basically, I reckon I could write a better magazine myself. Ditto NZ property investor magazine.

i.e.
from The NZ property Magazine:

this takes up the entire page 9 of the magazine (apart from a…[Read more]