Forum Replies Created
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 you’re a proven ‘serious buyer’. You’ll find you get offered things first, sometimes you get told about properties that haven’t even been signed up for sale yet but are about to be.
And once you have done a bunch of deals with an agent, they absolutely roll out the red carpet – they actually would prefer to sell to you rather than an unknown who might fall over. This is the kind of situation me and my bird-doggin’ buddies are in which basically is the thing our clients leverage off – our ability to get deals that the first time cold-calling Aussie might not be able to get. We are still (just!) able to get some great deals over there, as I believe Westan is.
yack,
“I just dont believe is using someone else to buy properties on your behalf.”
Me neither. We don’t actually buy properties on anyone’s behalf. We put a contract on the properties in our own name, and if someone wants to buy the property, they pay us to take the contract on. Sure, if you want to go there and drive around for a week you could totally do that yourself, but the leverage here is that one person drives around on behalf of many, but on spec. Basically our clients get to look at the deals we find at our expense. it’s only if they take a deal we get paid.
“If your interested in property investing, do some research, buy close to home,”
this is just a fear factor or control issue which not everyone can get past. fair enough….but i don’t agree.
“see your accountant for advice eventhough he/she charges you.”
Hmmmm!!!
don’t necessarily agree, because accountants are not always investors.“If you dont have the confidence in buying your own properties look at property trusts.”
“You get the benefits of property” –
do you? A lot of the property trusts I saw for sale at the property expo a while back offered 8-9 percent yields, and that was IT!
No capital gain….kind of like, the real INVESTOR was the inventor of the trust, who was using other people’s money (the hapless ‘investor’) to make even more on themselves.I disagree that property trusts give all the benefits of property investing. They only give some. However they are better than nothing for clueless or scared people – hell, at least they’re spending less than they earn and investin the rest into income-producing assets, which is more than you can say for most of the population of the world!
” and they are managed by experts.”
– So are my properties.And they’re not in a property trust.cheers-
Minijoy to the world
I agree, the seminars are Okay, however there is an undercurrent of….hmmm….get rich quick type hype which I find offputting. However if you’re into Anthony Robbins you’ll probably miss it completely. If you get my drift.
Their deals used to be great, but now – I agree with Jars – they are hopeless. And for 4995 or whatever they charge, for an unconditional contract, i don’t think they really cut it….
joy to the world
My cousin who is so brainy he discovers new enzymes told me that coke is more ‘sour’ than lemon juice. A lot more. Even though it doesn’t taste it. So yeah, i know it’s bad – the calcium leaching thing is a problem. As is the acid making the system too ‘yang’. but I love diet coke too. I love Pepsi MAX more, but that would be splitting hairs wouldn’t it? I’m trying to drink only a maximum of 2 a day but i could easily drink the stuff all day. So i drink more coffee instead, hyuk hyuk.
As far as fats/sugar goes, I agree that our diet is getting sweeter and sweeter as there are more added sugars in foods we don’t realise, everything from bread to promite to baked beans and that’s just the tip of the iceberg. the bread in the US is just SOOO sweet you can’t even eat it. Disgusting. Kind of like the bun in a big mac. Sweet. Also at maccer’s they soak the chips in sugar water.
Anyway yeah so I have been trying to go a bit more unprocessed wherever possible, as that way you tend to avoid too much sugar without really trying.
Yeah, I read the Atkins diet (no carbs, go into ketosis) but it gives you bad breath and constipation, so to me that’s just so wrong.
but having said that, I have noticed that when I have rather experimentally had low carbs meals (i.e. like what I had tonight, lamb skewers and tzatziki and salad, but no stodge or starch -) it’s heaps easier to digest, doesn’t make you feel bloated and if you do that for a week the weight definitely drops off. So i think there is something in that. But then again it can be an economic decision. Pasta is a poor people’s food, really, and meat and fish is practically a luxury. i mean, what would the battlers fill their families up on, if not pasta, bread, weetbix and the like? Most people couldn’t afford to feed their families on as much fish, chicken or meat as you can eat, some lovely low carb salad or asparagus or whatever, hold the potatoes – that would cost a fortune. For the average person that is.
But I do think there’s truth in that we eat too much sugar, and too much processed food, and that by lowering your carbs you can lose weight fairly painlessly, though not to the extent that Atkins reckons.
And all of this, on a property investing forum…hehe, it’s good to rant sometimes.
joy to the world
hi Michael,
I can’t believe you said this –
“Do not focus on authors such as De Roos, Koslowski, etc. These guys preach to the masses -“
did you mean Kiyosaki? Well De Roos and Kiyosaki do preach to the masses, but I am the masses, and that’s how come I heard of them. I got a lot out of De roos and Kiyosaki got me ready for De Roos.
That was what got me searching for the ‘local equivalent’ and how I found Steve, whose very good value seminar filled in the final blanks in my knowledge and gave me confidence to start investing.
Specifically, 3 bedroom family homes.“Finally, don’t focus on SFH’s [single family homes] “
so i can’t believe you said that either!!
I know you are into brand new apartments, but I’m so not. Firstly, I believe land appreciates, buildings depreciate. My properties have gone up in value 60 percent in the last year, and it hasn’t been about the structure itself!
Also like you said, due diligence etc, those are the right properties to buy to get tenants in the towns I’m buying in. If the only alternative was to buy apartments or commercial property, i wouldn’t even have got started yet.cheers-
Minijoy to the world
henry, not too late!!!!
not at all!
joy to the world
hey alf,
the type of houses Steve was buying in Aus then (60K, rent for 130 per week) are available in NZ RIGHT NOW, so you could use Steve’s exact strategy right now, but in a differentcountry, and get exactly the same result. Why do you think so many of the MAP people are there now!
cheers-
Minijoy to the world
oh geo,
thank you so much!!!
It was on hamilton Island. More ‘pig in muck’
really, hehe
It’s so nice to see everyone’s pictures. I’m finding I’m going back and looking again and again!joy to the world
Marisa, I’m with you, M Lomas, SIS, and Dolf de Roos on this one – ‘fall in love with the deal, not the property’.
Sure, if you have two deals exactly the same price and yield and all other things being equal, and you’re trying to pick one, and one is ‘cuter’, then sure, call that the ‘better deal’ if you like, because of the percieved added value and appeal to tenants.
I wouldn’t live in my IPs as ME right now, but I would if I was my tenants.
And I don’t think that makes me any less ‘house-proud’ or ‘fussy’, just less likely to make a bad investment decision because i got sucked in by the pretty paint job, mowed lawns, smell of coffee, open fire, or other seller’s trick to appeal to the average emotional buyer, who sadly doesn’t realise that these are common sellers tricks you can find in any book entitled ‘how to achieve maximum sale price for your property’ or similar.For example, it’s well known that you can add 10K to the price of your property if it’s freshly painted, even if it only cost you 2-3k to paint it. etc. etc. etc.
That’s $7k you just lost in value, by turning up your nose at the house with the peeling paint.
joy to the world
‘wrong’ – I reckon, there is no such thing – it was right for the time, and for what you knew and in the context you were doing it in – income, risk, etc.
I think it’s fine to regularly evaluate your strategy, goals, etc and make sure you are doing the best you can, whatever that means to you.
Just like court cases change tack completely when new evidence is revealed, you live and learn things and tweak your actions accordingly.
No matter if you feel you are still figuring things out, don’t ever feel that you have ‘missed the boat’. The only thing you may have missed is a wave, but like any surfer knows, there will be another one. and every seventh wave is the big one…
cheers-
minijoy to the world
Just to reply to MCWong, A good (safe) strategy (one taught by richmastery at their seminars) to avoid having to be forced into a sale if you lost your job, not to mention a good sustainable long term buy and hold strategy with the best of both worlds, is to buy 3-5 +ve CF properties to every one neg geared growth one. This means you can keep on buying because you never max out, the portfolio is +ve overall. The other thing about continuing to purchase is that the risk of vacancy affecting your bottom like gets less and less, the more properties you have.
That is why blocks of flats (+ve CF) can be a great thing to have in your portfolio as you get multiple streams of income from the same property.
cheers-
MiniPS Marisa, as for ‘where was this waterfront property?’ It was in the north island of NZ.
This particular property was so run down it was decrepit, (we didn;t put an offer in on it for this reason) and although CG when buying waterfront is almost assured, and although the house was ‘in theory’ CF+ve as it was tenanted as is, the house in my opinion would have needed to be demolished or seriously have money poured into it. Therefore, not really being +ve CF. – would have turned into a neg- geared property. As I am finding +ve CF properties for investors with the bird-dog thing we’re doing in NZ, a property that could easily turn into a neg geared one, well you may as well just stay in Aus and buy on of those on any beach you choose, there.I’m not going to divulge the exact name of the place, for reasons I would be embarassed to mention, and you probably wouldn’t believe anyway.!!!!
joy to the world
“I had another friend tell that the area was bad and going nowhwere fast”
Hmmm, yeah, it’s all relative and depends who you talk to. One person will say, Tokoroa is fabulous, it’s the 2nd top cashflow town in NZ,
it’s booming, RE agents are run off their feet, there are and traditionally always have been lots of renters, you can buy properties there yielding 17-18 percent for under 70k, complete with government guaranteed rent paid tenants, it’s only about 80K from Hamilton, one of the biggest and fastest growing cities in NZ, prices are cheap right now because the mill closed, you can get some of the best value ‘house for your money’ in all of NZ in terms of quality of dwelling for the price, it’s large enough at 14500 to survive the odd lay off here and there, blah blah blah….or, you can say ‘the area is bad and going nowhere fast ‘ from the point of view of, I’m not a cashflow investor, I wouldn’t live there, so I don’t get it.
different strokes for different folks.
Yep, a KPI magazine subscription is essential as far as I am concerned!joy to the world
oh man!
i just sent my pic to you but it bounced. (That bad, was it?)
No seriously, I posed specially in my best T-shirt. *Hehehhehehe*your inbox must be full up…
joy to the world
if you hold it for a year that seems to convince the tax dept. that your intention was to buy and hold and you’re not a trader. therefore no CG tax.
if you’re a trader, buying and selling all the time, or quickly, and the profits form your income, then yes they tax you.
i’m sure that’s what I’ve read somewhere, but then again don’t quote me, I’m not a tax professional, just a fellow investor
joy to the world
chan – i agree – there’s something seriously wrong there- with that site, with the guy who has only posted once here in his whole life, and hasn’t been back since to post again – to lead us to the site he ‘founded’ or found, or whatever –
yeh the spelling is shocking – it wouldn’t surprise me if the guy really did ‘found’ it – and maybe it’s some spy/virus whatever thing, but then again I am a conspiracy theorist from way back!i would agree that the whole thread should be deleted. moderators???
joy to the world
“I don’t think the government wants property prices to fall”
I disagree- I read somewhere that they actually do want them to fall, (gently of course, they don’t want to trigger a full-scale crash of course)- but they are concerned that the battlers can’t afford their own home any more – affordability is down.
Hence all their ‘moves’ of late. Australian property is overvalued on a world perspective…i guess the government want to put the brakes on.
Now SIS, I have never thought I would never negative gear in my life. It’s just that I wouldn’t do it *now* in *australia* at the end of a boom, when prices could stay pretty average for quite a few years and possibly even drop further.
Negative gearing only ‘creates wealth’ if the gains that you are getting are outweighing the losses you make week to week. I am not convinced that the climate will be right to neg gear for capital gain in Aus for ages. And meanwhile I’m snapping up CF+ve to increase my passive income, so that should the day come when I feel we’re about to zoom ahead for a big growth spurt once again, I will be ready with the serviceability (i.e. income) to support any neg geared properties I may *consider* without any loss of lifestyle – my portfolio overall will remain +ve.If you and others want to buy negatively geared properties for growth now, then so be it – it’s your money in the end and your decision. I’m only sharing my decisions with you.
now. about this 100 word limit, AFAIK I have no ‘special privileges’ -hehe apart from my blindingly fast Mac, over a gig of RAM, and cable access..
so SIS -try increasing the amount of RAM allocated to your web-browser, that might let you type more words.Any other problems with people finding my posts too long or challenging, just SKIP reading them! Easy!
I’ll know who can keep up, by your responses.
re yack – “Mini -Tell us something we dont know.”
I’ll try! But help me..tell me what you don’t know (if anything) and I’ll try and bear that in mind in the future.
joy to the world
“many people will become disillusioned and fall off property investing”
yack, yeah – and don’t you see that we’re all being manipulated by the government and the media to think that?
the stories have changed on tellie from ‘reno millionaires’ et al, to ‘interest rates up, auction clearance rates down, govt. introduces new tax to make property investing less lucrative’….with the purpose of taking the heat out of the over-inflated Aussie property market.
The side-effect of that is that property prices will fall. I mean, that’s what the government wants them to do. Bad news for negative geared people who have to pay losses into their properties week after week, in the hope of making capital gains – and after all their hard earned cash going in to support their investments, make a capital loss too. And then, if they sell, the government stings them on the way out, too.
i think the government is trying to tell us something…or else, make something change.
but the good news is, that the moment that – en masse – everybody thinks like you do – “many people will become disillusioned and fall off property investing” – THAT will be the perfect time to buy again – you will be able to name your price. Reason being there will be always people who for one reason or another have to sell *now* and if there are less buyers around, it’ll be a buyers’ market.
CF+ve properties will start popping up again in Aus all over the place. That’s my prediction, anyway.
i think the ones who are acting counter-cyclically will make the most money. The ones that do what everyone does, what the average investor does, will get the average result. ooops. that’s a Steve-ism, so I’ll credit him for that one..
cheers-
Minijoy to the world
interestingly, what both kay and monopoly said they’d need to confidently buy sight unseen is actually everything we provide when bird-dogging a property. from 20-40 pics of everything from the switchboard to the hot water cylinder, to a graph of the property market for the last 6-8 years, info sheet on the town etc, (every single relevant thing and picture i can find) – and I find buying sight unseen to be extremely time-efficient – you pay others to inspect on the ground, which I don’t personally think is much fun, so I ‘outsource it’ to people much more qualified anyway, i.e. a building inspector.
joy to the world
i said:
the louder someone is yelling, the more fun I find them to debate with.
joy to the worldmonopoly said: Why would you bother?
like I said, because it’s fun, which means I enjoy it.
here are some other reasons I’m here too…
for the joy of expressing myself
because I like written communication
to learn
to share
to exchange
to enlighten
to entertain
to wind down
to care
to stop people being misled
to expose
to enliven
to expound
to think
to help
to justify
to understand
to compare
to amuse
to assert
to support
to challenge
to hang out
to draw attention to
to expound
to back up
to explain
to give
to find out
to grow
to be myself
to validate
to vindicateI admit it’s much more fun to debate with people who can keep up, who give good ‘come-back’ in the form of witty and intelligent responses. now that’s satisfying.
joy to the world
pisces, joke, or for real? re: denmark?
sorry, I’m half german, and sometimes I can’t tell when people are taking the pI$$…
I heard it was one of the most expensive countries in the world to live???
joy to the world
brahms, what on earth made you ask
‘did you inherit the properties’?
is it because you inherited yours, or something, and that was your way of trying to ‘bond’? or what?
joy to the world
