Thanx Sue and Derek
Ill see what the solicitor comes up with. If nothing eventuates I will have to look at the bigger picture………look for another solicitor the next time I buy in that town….
Cheers

Thanks Castledreamer,
I have taken alot of what you have said on board for my next IP which will hopefully be soon.Thanx to everyone.[exhappy]

James
I will look on the bright side and yes it will be a forced saving indeed.
We live and we learn. Thanks all
Andrea

Thanx Simon. This is a lesson I will learn from. I’m hoping to buy another IP in Easter when I go to NZ, so I won’t be making that mistake again. By the way I’m still wanting to buy in Brisbane after Easter some time, so I’ll contact you as soon as I get NZ out of the way. Thanks

Most of the banks i researched in NZ, you had to put down 20% deposit if you lived o/s. I heard HSBC let you put 10% down but haven’t checked it out myself.

Chan,
I am insured with Tower. They have insured me for home and contents. This cover is full replacement value which was a condition the bank needed for me to get the loan. They were a bit cheaper than rentsure but they dont cover you for unpaid rent. I only know of rentsure and I think NZI that have rent cover.

Thanx yak, Ive been thinking hard about getting a property manager instead of doing it myself from over here. I can afford to give up a months rent so I might just give the rental insurance a miss.
Thanx for your help [biggrin]

Hi Elissa,
I am in the process of going for a loan with a bank in NZ. It was abit of a toss up between two banks, but have finally decided on one. In that time I was never told I couldn’t get a loan because I am an Australian resident.
Andrea

Hi Fudge,
Plz send me a copy..
frost5atiprimus.com.au
Thanks
Andrea

Hi guys,
Thanks for the response. I have rung kiwibank afew times and have been given the same answer each time. I have to be in the country to sign or have a Power of Attorney to sign for me. They said once signing happens, it could take a week to get approved. ANZ said I also had to be in the country to sign, but I could get the ball rolling…[Read more]

thanks blackfish,
will try the classifieds. They certainly don’t lie.
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Thanks Mel and Bill,

I will be contacting one of the brokers suggested.
Mel, I know seeing a broker will be very educational for me. Im so new at this but am pleased to get great feed-back to help point me in the right direction.
Thanks heaps

Andrea

Thanks everyone for the great feed back…I think I may try another approach. I left a message at MC for someone to call me back but no one did. Not a good sign..Im abit fighten of selecting a Mortgage broker. You hear so many bad reports but I know I need to. Would like to talk to a broker who really understands your particular needs plz.

Hey guys,
Is ringing the Real Estate Agent the only way of finding the out the rental demand?…..I heard some agents can tell you what you want to hear.
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Hello Mel and Weston,
Thanks Mel for that advice. I was told at a seminar that you should never buy where there is more than 30% that rent. Obviously that was a different situation to what I am looking at now.(positive cashflow)
Weston after reading your advice I think since I am aiming to buy more in NZ and will retire in NZ it might be best to…[Read more]

Muppet,
Just wondering what your views are on groups like the above mentioned. Personally, would you use these middle men or go it alone. You seem like an experienced investor as I have been watching this board for awhile. Please email if you like:
frost5@iprimus.com.au
Thanx

Thanks Muppet,
Got heaps of info from your suggested link.
As you can tell Im new at this and your help is much appreciated.
Have a nice day