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Hey, ING Direct are good for holding cash temporarily – however putting your money into shares or a top performing managed fund can make more money.
The way to do it without losing big time is….to make SURE you have an exit point with your purchase. For instance, Say you buy @ 50 cents a share – input an EXIT with the buy – say at $0.48 cents per share at which point they automatically sell.
this allows you to move the money to a higher yeilding share or fund without losing too much.
What I do is I raise my exit level periodicaly – so if I buy at $0.50 and set my exit at $0.48 but the share goes up over 12 months to the point where it is say $0.60 then I will set an NEW exit at $0.58 – if it drops and hits 0.58 then I automatically exit still having made $$ and buy a new fund or shares with that money
This does require work and maintainance but it will grow $$ at lo risk and higher than the bank savings account.
Tell you what – The wakelins are playing a different game – One for capital growth speculation only
Having said that – I used them to get my PPOR (because I wanted a high growth property if I was going to lose $$ on it) and they rule. Very solid, smart and competent.
But not for positive geared property. The books great – Lays out the framework for solid high cap. growth very cleanly – Buy close to the CBD in the main centres – but if you are trying to invest in a positively geared prop – they won’t have much to offer.
However – If anyone needs (High Income/PPOR/Wants to buy Cap. Growth regardless) to buy a negatively geared prop – I thoroughly recomend them and their service.
OK so what records is Mini on anyways??? Hope you don’t mind but I had to ask!!!
But these deals are there – I have found them in NZ – currently in small towns – One of the more successful business people I know (He does a mixture of business start ups for sale and ongoing cashflow business) has aquired 3 killer cashflow properties in wellington over the past 6 years – All of which were bought with the 11 second rule – one of these is on one of the prime intersections in the city and he is in excess of 20% return.
Positive cashflow property is something he ‘dabbles’ in and he has found them in the past. However – he is not looking for anything in central wellington at the moment – In fact it is unlikely to find things that meet the 11 sec rule in high capital gain areas IN THE CURRENT CLIMATE!!
We have to WAIT for a market adjustment before the inner cities become a viable option again – there will be a crash – when I don’t know but it will happen eventually – It is inevitable.until then – off to the small towns we go!!
By the way – Dunedin is a great choice but blowing out fast.
Hi louise,
If there is one book i can thoroughly recomend for you it is ‘money secrets of the rich’ by John burley – Sure it’s an embarrasing title but there is a financial plan base that he puts forward that I believe is the strongest, most logical and easy to follow that I have read – his book is light on the conceptual/get rich quick side and heavy on the step by step plans to become debt free and positively geared in your whole life – he is extremely sceptical of your garden variety financial planners as they are just there to ‘Sell’ financial ‘Products’ and profit from their ‘commissions’ explains why very well.
I can tell you that I brought this book and it changed my life – Not so much from the property angle, although he is very good at that too but from the financial fundemantals he puts forward as an absolute basic before undertaking ANY proprty investing.
buy it read it you will be very pleased – You’ll also run out and deal with your negative geared properties too!!!!
wellington is huge – suburbs are becoming harder and harder right now to positive gear.
Wainui has stuff – but there is a particularly adept PI from the John burley school who has it very wired.
Porirua – is still ripe – running out fast though.
Petone is over pretty much.
I offered on a positive geared flat in karori the other day but got overbid by a desparate investor.
There are still things out there!
