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  • Profile photo of muppetmuppet
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    @muppet
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    October 4, 2003 - 8:28 pm

    Hi Lister

    Welcome to the forum.

    Yes.

    Regards

    Profile photo of muppetmuppet
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    @muppet
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    October 4, 2003 - 8:25 pm

    Hi Wayne

    Don’t you believe it mate.
    By the way the Chinese economy is going and not bowing down to the Americans there will be so many rich Chinese wanting to relocate in 10 years time there won’t be enough land to relocate onto let being a housing shortage.

    And what about India. If they can afford to develop nuclear weapons there must be some people there with a lot of money who will want to get out of the place.

    If it gets too hot for all those NZers in Australia eg a few twin towers type of heat, they may think it might be better back in Godzone then there might be a surplus of housing.
    If this happens there will also be a housing shortage in NZ.

    The baby boomer will be replaced by increased migration of young people.

    Regards

    Profile photo of muppetmuppet
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    October 4, 2003 - 8:06 pm

    Hi Alf

    Yes you are correct, there is NO stamp duty in NZ.

    Also there is NO capital gains tax either.

    Refer to NZ Suburbs for more comment.

    Regards

    Profile photo of muppetmuppet
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    October 3, 2003 - 12:42 am

    Hi Guys

    My Oskar loves rats particularly ones he can catch.

    Regards

    Profile photo of muppetmuppet
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    October 2, 2003 - 11:39 pm

    Hi Guys

    Thanks for your thoughts on the matter. Here are two more postings from the other site.

    Number One
    “These rules are too restrictive. An acceptable yield for one person may be completely unacceptable for another. If you have a high income and lots of cash to use as a deposit you may be happy to accept a 7.5% yield. But if you have a low income and little or no cash (so your borrowings are higher) then you may need a 10.4% yield.
    It is better to establish the yield you want and apply this to the annual rent of the property you are looking at. So the equation is annual rent divided by desired yield times 100 is your maximum purchase price. If the annual rent was $10,000 and you want a 9% yield, $10,000 / 9 x 100 = $111,000. If the required yield was 10% it would be $100,000.”
    Andrew King
    Property Coach
    visit http://www.PropertyInvestor.Info for Coaching, Software and Books

    Number Two
    “All this talk about yield. What about the fact that this property has a body corp? A big one at that. Does a yield calculation take this into consideration? In some areas the landlord pays waste water but not in others. I own flats with common grass areas that I pay to have cut and stand alone houses where the tenant does it.
    Why do so many investors want a 10% yield weather interest rates are at 10% or 6%?
    Is having lots of money to put into the deal a good reason to justify buying a crap deal?
    I guess what I’m asking is wouldn’t it be better to analise each deal on its own merits?
    I think Yields are a rough guide that should get you a rough result.”
    Steve

    These quotes originated from a reply I made to a posting advertising a flat for sale in Wellington in which I made mention of the 11 sec solution.
    Keep the opinions coming.

    Regards

    Profile photo of muppetmuppet
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    October 2, 2003 - 7:58 am

    Hi Steve

    Thanks for the reply.
    As you no doubt gathered the quote was from a NZ investor.

    All except one of my properties are +ively geared and they are in 3 cities of NZ.

    However for one reason or another I can not get enough on prior approval to be able to purchase the highly priced properties in the major cities.

    Finding properties to fit the 11 sec solution at thye moment is a challenging occupation.

    Regards

    Profile photo of muppetmuppet
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    October 2, 2003 - 6:34 am

    Hi Pinky

    Now Eccles used to be in a show called The Goon Show. It was a radio show and featured the voices of Peter Sellers, Spike Milligan and Harry Secombe. I think Spike is about the only one left alive.
    Other people in the show were Grippipe Thyne, Neddy Seagoon, Min and a few others I can’t remember because it has been quite a long time since I last listened to them.

    Now mini horses had nothing to do with Eccles I am afraid Pinky.

    Regards

    Profile photo of muppetmuppet
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    October 1, 2003 - 10:48 am

    Hi Guys
    I like Fair Go. I also liked CSI: Criminal Scene Investigation until they moved it to Friday night which is my club night.[xx(][xx(]

    Regards
    Phred

    Profile photo of muppetmuppet
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    October 1, 2003 - 10:43 am

    Hey Arty

    I said 20 posts per day not 140. You’ve got till late October to get your 1000 posts, not by next week.[:(!][:(!][:(!][:(!]

    Regards
    Phred

    Profile photo of muppetmuppet
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    October 1, 2003 - 10:36 am

    Hi Phred

    Congratulations on the name change.[:O][:O]

    Regards
    Phred

    Profile photo of muppetmuppet
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    October 1, 2003 - 10:34 am

    Hi Guys

    We have an Oskar.[:D] A ferocious little tri coloured fox terrier that absolutely hates possums. His tally stands at about 1300.
    We used to hunt them a few years ago.[:O]
    He would chase them up a tree and I would shoot them. Once I got it away from the dog I would pluck it. The fur is at the moment worth $60 per kg.[}:)][}:)]
    He chewed Westan up the other day until told he was a friend. Now he spends most of his time sleeping in front of the fire.[|)]

    Regards

    Profile photo of muppetmuppet
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    October 1, 2003 - 10:24 am

    Hi Suzie

    Congratulations. Now roll on for the tenants.
    How many does this make?[:D][:D][:D]

    Regards

    Profile photo of muppetmuppet
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    October 1, 2003 - 1:14 am

    Hi Arty

    Go to it. My $100 bet is starting to look good again.

    I have no tats, not really interested. One son has a big buzzy bee on one arm. His nickname is Buzz.
    One daughter has a couple in various places. Her husband has a great big stud in his tongue. That’s not my cup of teat either.

    Regards

    Profile photo of muppetmuppet
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    October 1, 2003 - 12:59 am

    Hi Dave

    Give a Property Manager or two a ring and ask them what the rental situation is like in the area you are looking in.
    Also ask them about the good/bad areas of the town, streets to keep out of etc etc.
    I know of one PM who told a forumite that there were a few streets in a town that she would not handle rentals in.

    Also get REs to fax through information on houses you are interested in.

    If looking in NZ you can download or print off info about places from the http://www.realenz.co.nz site

    Regards

    Profile photo of muppetmuppet
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    September 30, 2003 - 5:49 am

    Hey Arty

    What’s happened.
    Has the boss at work wised up to how you are spending your time. You are about 40 posts down. My $100 isn’t looking too good.

    Get posting.

    Don’t take any notice of Pinky. You can discuss your property investing when you are home in bed with your partner.

    Regards

    Profile photo of muppetmuppet
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    September 30, 2003 - 5:43 am

    Hi Harold

    Try Jan Somers web site. I think an investor from Singapore made a posting about how much property he had bought in Cairns.
    Certainly a cunning way of making a very quick buck now that everyone wants to buy there and prices have gone up.

    Regards

    Profile photo of muppetmuppet
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    September 30, 2003 - 5:22 am

    Hi Steve

    Your postings are getting as long as Minis.

    Westan brought me a copy of your book and I have been spending the last few nights reading it. I am just about ready to reread the book and use a hilighter pen to mark the parts that tell me what I need to know and remember.

    I am enjoying the thought provoking ideas that you have expressed and after two years, I am clarifying what I want from Property Investing.

    I have 6 IPs, all obtained in the last two years, 5 being positive and 1 very marginal but I can get CG from it. The first property I bought 2 years I have since sold. It was $100 per week -ively geared. I made $27000 profit and being in NZ, NO CG Tax. The profit has since been ploughed back into more property.

    After talking with Westan and Diamond I am becoming very positive about buying +ive cashflow properties in rural areas of NZ.

    Keep on with the good work.

    Regards

    Profile photo of muppetmuppet
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    September 29, 2003 - 9:39 am

    Hi Arty

    Welcome back.
    I’ve noticed your hair has turned white and there is a hint of a bald patch appearing on the top of your head.
    I hope the tat didn’t hurt too much.

    Regards

    Profile photo of muppetmuppet
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    September 29, 2003 - 8:33 am

    Hi Angelus

    it is not the 11 Sec Rule but the 11 Sec Solution.
    It gives a very quick indication if the property may be a good deal.
    eg weekly rent divided by 2 times 1000 = purchase price.
    Therefore on your figures (ave rent) $190 divided by 2 = 95 *1000= $95000.These figures would give you about 10.4% gross yield and therefore make the property +ive cashflow.

    Your figures of purchase price at $115000 would give a smaller yield and make it marginally +ive cashflow.

    Regards

    Profile photo of muppetmuppet
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    September 29, 2003 - 8:13 am

    Hi Arty

    Your absence has been noted. Quit sulking and get posting. I’ve got $100 on you that you will beat Sooshie to 1000 postings.

    Pinkie please give Arty a prod into action.
    How is he going to learn if he doesn’t ask questions?

    Regards

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