I want to get 4 this year, 1 each quarter.

Hi melbear,

“If I saw his history, and saw continued income of 40-60%, including losses, I’d happily hand over my money.”

good luck. What I mean is, i doubt it very much. if that *was* his trading history, surely he wouldn’t have to ask someone for money to make a margin on for himself?
He would be ‘loaded’ just like westan said.

Also he…[Read more]

hi whoever said check the street directory, well I have one of course, but I’ve never heard of the place in 7 years here. Never knew any business or person that lived there or anything. I’ve only ever heard of Matraville out of the suburbs James mentioned. My radar just isn’t picking up those places.

cheers-
mini

‘There is a suburb called Bank’s Meadow which is also very close to Sydney which I wouldn’t be surprised about if that is going to be the next Paddington.’

Um, I don’t think so.
Where is it? Because I have seriously never heard of this joint. that tells me it’s probably not ‘close’.
but then again I don’t even think St Leonards is ‘close’ to the…[Read more]

I think it’s the Aussie govt’s idea of a win-win deal. A bit more cashflow for the govt, and capital gains for NZ. (you with me??)

melbear,

v. interesting. I wonder if it’s become that way because it’s been such a hot market for so long and that soon it will be ‘duck season’ again i.e. a buyer’s market, and buyers will be able to put whatever clauses they feel like in, agian.

I always put a zillion subject to clauses in my offers when I put them in in NZ and so far never…[Read more]

hi guys,
as you need a lawyer to buy property don’t you? well you do in NZ – and as a lot of them give you a fixed price anyway – why not talk with the lawyer before submitting the offer?
I did that, and the lawyer helped me word the clauses exactly. I still run deals past him every single time.
call me cautious, or sensible, but I say consult the…[Read more]

fabulous post larelle, keep em coming!!

cheers-
mini

good point del – I mean about 15000 people most of them not working at the mill!!

I’m looking at some deals there myself at the moment.
trying to figure out if 12.8 percent return is good enough for clients or not to bother

Already negotiated the vendor down a bit

there’s one I can probably get for 13.5 percent though

cheers-
mini

yack, you know I would say (i know, I’m like a broken record – ) ‘buy positive cashflow’ properties in regional areas with a high rental componenent/demand in the area that will break even with a 10 percent yield *after* holding costs. In NZ now or Australia soon. probably in the lower third of the market, but not the very worst.

but given your…[Read more]

hi Philip,

Although I don’t have property there myself yet, the prices are a bit higher than where I’ve been finding deals, I am negotiating a deal there myself at the moment, actually.

What are the yields that you’ve found there out of interest?
PM me if you want. I’m working on paying 1999 RV prices today (there has been growth since then) to…[Read more]

My ‘vested interest’ is that I want my properties to be as ‘set and forget’ as possible. I want to hold them all long term (give or take the odd consolidation) and certainly don’t want to be frigging around watching the market getting in and out all the time like a trader, trying to always buy at the bottom of a boom and sell at the top. sure, I’d…[Read more]

oooh, pisces,

that sounds so…*mad*….so un-pisces….

hey, don’t sweat it, it’s just a forum. I figure, there are way too many billion people in the world to be friends with all of them. let alone have bad blood. Way to draining and time-consuming.

Leverage: only ‘hang’ with people you like, like you, things flow, etc, and don’t waste time…[Read more]

There is no doubt that ripping people off is a way to make money, and that HK did it by secretly offloading his apartments on to people he was ‘teaching’.

But as long as HK still has secret structures and ‘asset protection’ so ‘his’ money (which isn’t really if he ripped it off) is safe from claims, then he will *always* be a rip-off guy – unless…[Read more]

Ad, *shhhhh* you’ll spoil the surprise!!

cheers-
mini

hi melbear,

i live in a house in Paddington much like you’re describing except freestanding. We rent it.

well, you know what they say, buy low, sell high. If you buy now….even with this tricky tenants in common thing – which sounds fascinating – and like you say could be a great way to get into the market – and i don’t quite get it, but the…[Read more]

I’ve been to Steve and Dave’s seminar twice.
I don’t have time to write a long post right now (will later though) but let’s just say, I wouldn’t be here now with 3 IPs and can talk till the cows come home about RE, if I hadn’t gone to the seminar. Yes, I had read at least 10 books, and even bought CD recordings of seminars. but nothing beat the…[Read more]

I wish there were more hours in the day so I could do more. I wish i didn’t need to sleep. that the whole world could read. That Oprah was president of the US.
I wish they moved Australia and new zealand a little closer together, so Aussie wouldn’t be so hot and NZ so cold. Close enough for a bridge. I wish I had a personal assistant, a cleaner, a…[Read more]

hi Kay,

very interesting things coming up from what you are saying.

‘I have made decisions not to deal in the pensioner market, nor the wrapping market, nor the “old guy who doesn;t know what his house is worth” market. Nor the “death, divorce, drought” market.’

I get why with the wrapping – i share that sentiment merely because I think findi…[Read more]

Wealthmagnet,

welcome to the forum, and BTW, slammin’ first post.
cheers-
Mini