Sounds like it is part of the description of the title which is a cross-lease.

I.e. once upon a time NZ had quarter acre sections with a big back yard and nowadays you quite often find a section with two houses on it, one front and one back. They could have a shared driveway so it is not a true complete subdivision, because of the right of way,…[Read more]

less sometimes, i,e, 70 percent, 60 percent. It depends on things like the lender’s criteria on the property you are buying, the mortgage ‘product’, whether it is commercial, residential, bare land, lo or full docs, which town it is in, your income, etc etc.

But yes for cookie cutter offshore investor clients (employees) cookie cutter NZ…[Read more]

Disclaimer: This post is rather long. Please skip this thread if you are easily offended by length, not interested in developments, and think you may be offended by my writing style, are in a hurry, or don’t care for the lavish use of exclamation marks. My opinions are not necessarily shared by others, (so sue me!) and …er…my hobbies are…[Read more]

Exactly. The NZ economy has never been stronger and so is the dollar. The country is on FIRE! low unemployment etc. However the downside is that it is not so good for exports – because they become more expensive for the rest of the world. This was also in the article that Muppet quoted from because I read the whole thing, and was the reason for…[Read more]

Sacha at ANZ as others have noted is an absolutely triple AAA+++++ contact. The person and their can=do attitude is so often the difference between a positive experience and not.

nevertheless I have heard good reports of service all over NZ with different brokers and lenders and I put it down to the low population density means they just have a…[Read more]

kerwyn, so pleased to hear that, very smart of you. and which is why one of the things I keep banging on about around these forums is the importance of an independent rental assessment as you have found.

cheers-
Mini

Oh dear, I really do try to be polite, but in the end sometimes I feel that stronger and more challenging thoughts need to be expressed. So, i’ll throw down the gauntlet and put myself on the line here: And for the record, Robot is right on, and obviously a ‘smart’ investor:

how often have I heard this, from (my name for them) Auckland Wanker…[Read more]

Hi guys

nice to hear your NZ reports, and yes we are finding the same. Re: your comment Richard from rotorua rentals, don’t forget he is Chairman of the Rotary type person and a rental manager. His agenda of telling you ‘what you should buy’ will suit what he wants (good house, upper rent market, easy to let to top executive tenants) which is not…[Read more]

Hi Guys

Yes I use a clause that grants us access after unconditional but I think Sparticus means before such as when you are doing your due diligence.

well it is just the same as your building inspector. They will have to make an appointment with the person who has the keys (rental or selling agent) and give the tenants the right amount of…[Read more]

Tip # Umpteen

If you can’t buy positive cashflow in an area you like, then why not develop. Either buy a property and subdivide and sell off (making your half that you keep CF+ve hopefully) or else spend more and add another unit on the back (the land didn’t ‘cost you anything’ so if you build economically this should be cashflow positive…[Read more]

Hi Seafire

I just started with a huge search engine list and picked my way through it. You need to do the same and not just take the first quote as the best you can do (or email me and ask me who I am using).

As I told you and as others have in the development section project builders are a good option and cheaper than made to measure…[Read more]

Don and Liz, yes late 2003 was when the Mill had just laid off 500 jobs I seem to remember. Also it depends on the lenders as to whether they are overexposed there and stuff like that. I mean who knows, one of their big clients may have just bought up 30 properties there, haha.

In the NOW I have not heard of lenders that won’t do Tokoroa (which…[Read more]

Don and Liz, Yes, indeed! GRRR that same thing happened to me with one of the first three properties I ever bought. Like you I moved agents too. What I learned is that this is why you MUST get an independent rental assessment. As Bill says sometimes they will do it for free because they may get the business but even if you have to pay $50 or…[Read more]

hi Bill and thanks for posting. Not ruffling feathers so much as loving to debate with you an issue where I know I am in the statistical minority and your view is probably shared as you said by ‘most kiwis’.

“260 for was now only worth 180”
spent 3 k marketing it –

OK, can I bet $100 that it was a ‘brand new apartment’ in Auckland?

Boy, I am so…[Read more]

A certain local industry insider on the ground and super Mata hari style property deal super-sleuthing intelligence infiltrator and deal-sniffing bloodhound and all around legend AKA NZ Bird Dog reported that yesterday there was a LINE of Aussie investors outside the real estate agent’s office!

I’m sure the news would have made the local…[Read more]

Scott!!!

“A good buyers agent will really put a vendor through the hoops to make sure their clients are getting value for money.”

Indeed!!! As it should be! And so it follows that….

“I found it much tougher to sell through a buyers agent than a real estate agent,”

Chuckle, chuckle!!!

It was hard for me too (and not through lack of clients…[Read more]

Hi Simon,

All of the people I know who have created their wealth fairly fast and then retired (i.e. fast tracked) have done so with cashflow positive properties. This is not to say that negatively geared ones don’t make you money or that your own home won’t be worth a fortune in 20 years time while you work your job to pay it down.

But anything…[Read more]

hi Rod

A few investors I know are over there too at the moment and I distinctly remember saying …..

‘I bet you it will depend on the weather which towns you ‘vibe’.!’

it’s far easier to vibe the town you visited on a brilliant sunny day than the town you visited in the freezing rain!

(However it’s all that rain that nZ gets which keeps it…[Read more]

A buyer’s agent I see a little differently, such as you may sign up properties ‘as agent’ for a client. Bird-Dogs on the other hand are just people who find deals for investors.

So if we found a deal for investors and hadn’t signed them up, as I used to do, there was always the possibility that the client thought about it for a bit, then decided…[Read more]

hi Julie,

try

Winnie Doevendans
lowlandslavender AT clear DOT net DOT nz