I just finished The Camino by Shirley Maclaine.

(it’s about how she did the famous 700k plus pilgrimage on foot through northern spain at the age of 62, which heaps of saints of old did too, and of course she had heaps of incredible experiences on the way! As you do, apparently!!)

If you’ve read her other books you’ll know the kind of thing but…[Read more]

I wouldn:t touch it if there is no rental manager and no tradespeople.

I have properties in whoop whoop towns of a few thousand myself, and they are fine, there is more than one property manager to choose from and say 8 or 10 builders, two or three plimbing firms etc.
My returns are around 20 – 24 percent yield CASHFLOW not to mention capital…[Read more]

i forgot to add– you know what i did with the 15 grand instead of buying a vending machine or five?

i bought a house for 16K. it cost a bit more cause I did it up and now it’s rented for 95 per week. It’s going great, though. 20 percent return and fully managed, so truly a passive income which has also increased in capital gain by about 50…[Read more]

i remember being quite taken by a chap called David Green at rpvending

http://www.rpvending.com.au

at a stall at the investing expo at darling harbour last year. Not that i had ever considered vending machines in my life, but it seemed like not a bad thing to do if you had a spare few k.
15 k gets you about 5 vending machines and they site them…[Read more]

Hi there, to answer your question the ‘state’ they are in is NZ! Yes smaller towns of 1500 1/2 an hour out of town of 45000 and smaller town of 8000 about 2 hours or less from large metropolis w. international airport. So rural/regional but not remote.

Yack, welcome back, hahah, I was missing someone to disagree vociferously with,

“I prefer…[Read more]

yeah yack, who’s going to annoy me if you leave?

come back soon…
cheers-
Mini

PS

yeah i got jack of it for a bit when I was getting some grief but the parties have sorted it out in a win/win manner and all is good.
I’ve recently been away not cause of that but because I’ve been travelling and doing mucho deals with my mates castledreamer…[Read more]

i bought a place for 19K a year ago which was dumpy but structurally sound and spent 8k on it, including a shower, new bathroom walls and vanity, polish floors, new fireplace, paint and curtains.

it has been rented at 115 a week for the last year (22 percent return) but it’s now been upped to $130 per week to reflect the market rising (25 percent…[Read more]

I am going to try to do some mad rescheduling and delegation and try to make it!!

cheers-
Mini

joy to the world

hi benson,

well didn’t I just get sucked in then! hehe!!

So ummmm…

hi….

bye….

cheers-
Mini

joy to the world

Hello Great Pig, ooh that sounds like an insult, but it’s your name…okay!!

sorry i haven’t been on the forums for ages, been travelling plus have a zillion deals on the go so really busy.

“Do you take on contracts specifically to match client requests, or do you just take on whatever you think is good and then try and find people interested in…[Read more]

I dunno benson, I guess it’s a fine line between being able to answer a question because i know this stuff – not only because I had to find it out for my own investing but also because i have the answers all ready written on my computer that I almost everyone who wants to buy in NZ but hasn’t yet wants to know this stuff. So yeah, I do have this…[Read more]

Kaye – ” I mean, if a person was a very low income earner, it is pretty hard to accumulate property at a great rate.”

two people I know –
income 10K owns 3 properties
income 30K to start with now has over 30 properties

umm, I don’t know the incomes of some of the other people I know with 14, 25 properties etc but they have day jobs of the ‘good’…[Read more]

yes and I recommend westan and muppet too

cheers-
Mini

joy to the world

The following is an excerpt from our client mail-out (3800 words in total) – let me know if you want the whole thing. No hotmail addresses though as they are a pain and always bounce.)

How much does due diligence cost? What other costs are involved?

LIM reports are around $130- 150 NZD from the local council.

Building reports (pre-purchase…[Read more]

The following is an excerpt from our client mail-out (3800 words in total) – let me know if you want the whole thing. No hotmail addresses though as they are a pain and always bounce.)

How much does due diligence cost? What other costs are involved?

LIM reports are around $130- 150 NZD from the local council.

Building reports (pre-purchase…[Read more]

Hi there,

I’ve not only done research on NZ, I LIVE it!! I am talking to NZ property experts almost every day, be that rental managers, building inspectors, agents, my bird-dog-on-the-ground business partners, or lawyers. i also subscribe to property investing magazines about NZ, news sites, I am on the mailing list for a couple of other…[Read more]

Hi Steven,
interesting thread. I have a couple of questions, i.e. how do your lenders feel about the smaller towns? like under 10000, and 5000? Will they still lend there but just at a higher LVR? Do they cross collateralise if properties are under 50K or just not lend at all? How would they feel about a town of 1500 that is 30k from a major city?…[Read more]

well as far as I can see it’s still got 5 percent to recover to the 1987 levels, which is not too much to ask, considering NZ is supposed to be in a boom…

cheers-
Mini

joy to the world

DD, you should go down to Melbourne and do it! It’d only take you a week???

joy to the world

Hi Kirsten,

I hear ya, it’s frustrating if you go to NZ and schlepp around and don’t find anything – or even more frustrating, you do find something, but miss out because some ‘Aussie investor’ offered over asking price, sight unseen!

However once you have bought a property from and agent, you’re a known quantity. Things definitely change, as…[Read more]