Hi there,

we’ve had this discussion before, but I don’t get how it’s possible to buy ‘under market value’ because as the accepted buyer you *are* the market, and you are paying as low as you can get, while the vendor is holding out for as much as they can get (both parties being realistic to the point in time and knowing a sale in the hand is…[Read more]

hi there,

i actually own an asbestos fibro (hardiplank or similar) house. i didn’t know it was fibro until the BR came back. Eek, i thought. Isn’t that bad?
‘only if you want to disturb the fibro and work on it.’

‘will I want to in the next decade, even 20 years or so?’ (because i am buying buy and holds.)

‘the stuff lasts for donkeys, and you…[Read more]

steve,

congrats on the beachfront for 35K, was that recently?

Personally I have a vibe for Wanganui. Still enough people left to get tenants, jobs, pretty, cute. Water. but it’s hard to recommend it to other people because it *does* have a declining population. Best thing is to go there. just fly freedomair.co.nz into palmerston north and drive…[Read more]

hi guys,

Wanganui is a pretty and lively town of 45000 or so. There don’t seem to be many high yield properties over there right now, a few around 10 percent. i.e. neutrally geared after costs. So will there be capital gain? well there is some employment going in in Marton (small town nearby) and they might be developing the port, if they do, the…[Read more]

!!! heeheee

well there’s two kinds of posts I do here, one is ‘hey, i can answer that question or offer something on the subject’ and the other is ‘wow! this person couldn’t disagree with me more!’
*cracking knuckles to get started*

debating makes me really figure out my stance. I guess in a way it’s my favourite, a good debate. I am not really…[Read more]

Michael, re: my reference to the “richest people are the ones who buy and hold”

I think you’ll find that most of the richest people in the world hold their assets in real estate. Hold meaning in their own name or in trusts or structures controlled by them

Me: “Experts who try and sell novices into investment schemes”
you “.. The investors we…[Read more]

“Not everyone is intelligent/educated enough to know when they’re being conned. Not everyone realises there is no simple formula for success”

agree with the first part. That’s why it’s soooo important to question, question – until you understand.

The second part, i don’t agree with. i think there is a simple formula (for wealth).

it’s -…[Read more]

Referring people you don’t know is always tricky.
i would again recommend getting hold of both NZ property investing mags (kpimagazine.co.nz and goodreturns.co.nz) – subscribing to both, as they have ads for mortgage brokers. Also check out propertytalk.co.nz and housemouse.co.nz

both forums have either ads or posts from mortgage brokers and…[Read more]

> I will add that I have a successful real estate investment and development
> group, based in the United States,

there’s that ‘i thought you were a yank’ thing again

>which employs specialists to implement
> investment strategies and build wealth in our portfolio [domestic and foreign]
> – which has never been reliant on buy and hold,

Look. I…[Read more]

Michael R,

the ‘yank’ part was because it says you are from the US to the left of your post.
I’ll get back to you on the other stuff.

Devo,
I’ve told you what the carrot is in going offshore- and that is yields. I read somewhere recently that Australia has amongst the crappest yields in the world.

To be complaining about people going off the…[Read more]

“maybe you can find an appropriate book on this subject.”

ugh, maybe you can be a bit less patronising. If you wanted to give the impression you are a big-noting know-it-all yank, you’ve succeeded.

Anyway, it’s impossible to have a debate with someone who ‘can’t be bothered’.

I however may be able to be bothered to discuss your other points…[Read more]

done
cheers-
Mini

that’s all very well, but sometimes when you buy is the time to renovate – i.e., the place is empty. After that you want a good tenant who’s going to live there for the rest of their lives giving you zero grief, and who you attracted by your brand newly renovated place.

“the owner was able to claim a total of $1.2 million in depreciation over…[Read more]

diclem,

hehe, what, are you saying i am influential or something?? *hehe*

michael,

“With all due respect, I would personally disagree with your comment “The richest people are the ones who buy and hold”.

like, whatever, dude, you are so welcome to sell your income producing asset, pay a RE agent for the privilege and CGT on the proceeds, buy…[Read more]

i agree, the best way to avoid CGT is to buy and never sell!! Also offshore you get better yields. Aussie has got some of the crappest yields in the world, actually. I read that somewhere.

The richest people are the ones who buy and hold. The people with the most regret are ones who say ‘if only we hadn’t sold that property back then, because now…[Read more]

hi there,

if I was thinking of buying this house I would first find out (from the agent) what I could get it for. usually let’s say the list price is 35K, ring the agent and say, look I know what the list price is, but what’s the real price? what’s the vendor’s reason for selling? You may hear ‘the vendor has a mortgage on the property for 29K…[Read more]

hi rachel
I’d also be interested to know what sort of deals you have and how much you are charging to flip, or else how you are doing it.

cheers-
mini

fatboy,

I had lunch with a friend recently who told me a story which i could really relate to given the recent situation here to which you are referring. He was going to merge with an Australian company and buy into it – and had been bonding with them for a year prior to the merger. On the eve of the transaction there were still some final…[Read more]

hi there ghotib,

” might use our properties to rebuild social capital and/or to contribute to other common resources, such as clean air and water. Not just win/win for owner and tenant, but win/win/win for owner, tenant, and the general population. ”

Well going in to a town of 3,500 people and spending about 60k there on houses and 20K on…[Read more]

Hi Charchie,

yeh that’s right, 3838.

OK re: would these deals be good if financed 100 percent?

Hmm. Good question. I would think so, because now that they are all set up and earning nicely with good stable tenants it would be a good time to offer them as collateral/serviceability income to buy more.

but for someone else? i don’t know..IMO the…[Read more]