Hi Michael,

No real secrets to share regarding NZ… I got a lot of info from this NZ forum http://www.propertytalk.co.nz/index.php

I also got myself on the mailing list of a couple of NZ birdoggers… Their contact details are Alvin from PINZ [email protected]… And Barbara from NZ Bid Dogs [email protected]

Of the three NZ IP’s I own, I bought the one in Wairoa thru Alvin the other two I sourced myself.

As everyone’s investment criteria is different I can only tell you why I did what I did.

My first IP was a duplex in Hawera which I bought simply because the numbers added up. Even if one side of the duplex was vacant the other side would still cover my outgoings. It’s fully tenanted at 12.5% gross. As a free bonus a large gas field off the coast of Hawera is just about to be opened up.

My second IP was bought on a gut feeling strangely enough, I know a lot of people will call me crazy for doing that, but it was a very strong feeling. [blink]

It is a 3-bed brick house in Waverley and had been owner occupied for 10-years so it was in mint condition, absolutely nothing to do. It returns 12.3% gross. Waverley is about 30-mins from Hawera, North Island.

My third is in Wairoa, this was bought primarily for the return, 14.8% gross, secondly because nothing needed doing and I could add a carport or garage if I wanted to raise the value and rent in the near future. There is also talk that natural gas reserves in the area could be utilised sometime within the next 5 to 10-years. If it doesn’t happen I’m still happy with the return I’m getting.

As you can see all three are giving me good returns, which was what I needed to start with, so that I could show serviceability to the lenders for further purchases.

I anticipate that CG from these three IP’s will give me the 20% deposit for my next IP and allow my next purchase to be a neutral or slightly negative, but one that has more potential for CG… In doing this I hope to have my NZ IP’s now producing “Endless 20% deposits” in their own right.

I still have cash reserves, which I now want to get working for me in the QLD market.

That’s the plan so far… Hope some of this helps.

Cheers, Nobleone. [biggrin]

Hi Greg,

No apologies needed… I might have made a good start into IP’s but I still need people like yourself to give me reasons to think laterally and out of the box. I’m still learning how to suck eggs. [withstupid]

You’re very right about 18-months being a BIG chunk out of my 5-year plan. To clarify, I will still be moving fwd in NZ with more purchases, just not injecting any more ‘cash’ into NZ.

I was referring more to my firt steps, using my ‘cash’ into the QLD market when I mentioned 18-months.

I have not yet read any Peter Spann, But when I picked up McKnight from the library I did put an order in for Spanns book, $10 Million Property Portfolio in just 10 Years. It should arrive just as I finish reading McKnight.[biggrin]

Would you like to share where you discovered this info and what the strategies are?[whistle]

“One key secret I’ve picked up is that certain strategies are virtually guaranteed to make you a profit irrespective of the state of the market, or what stage of the market we’re at.”

Anyway please keep posting your thoughts I really do appreciate what you’re sharing.

It’s a perfect day here on QLD’s Sunshine Coast so I think I’ll move away from the computer and after breakfast head off to the beach… That’s what Sundays are for.
[specool]

Cheers, Nobleone.

Hi Marc,

But as I said I have my IP’s at 80% and I plan not to buy anything unless I can put down my 20% deposit.

My plan is to be cautious and not over extend.

Nobleone[oneeyed]

Hi All,

Thanks for your feedback… Now I’m happy that I’m looking at things correctly.

Cheers, Nobleone [biggrin]