Forum Replies Created
Kurra,
Am I correct in assuming that the seminar you attended in Sydney was the one organised by Westan? If that’s the case, you should state this in your post because it looks like people are jumping to conclusion.
If it wasn’t Westan’s seminar, then yes, I agree with g7 and Derek.
Regards,
OziHi,
I did my own Kiwi Adventure a couple of months back. Definately hire a car! It’s the only way to get around, especially if you are hunting property.
Just be careful as NZ driving conditions are much more challenging than here in Australia. Also, when going down steep hills keep an eye on the speedo or you might find yourself doing in excess of 140km/h, as I had discovered several times [biggrin]
Regards,
OziHi Tim,
It’s really difficult to 2nd guess what the market will do and when it will do it. Saying that the Australian market is 18 months ahead of NZ does not mean that NZ will directly follow what has happenened here in Aus. I guess what it comes down to is how long you have already owned the properties, and how much they have appreciated in value. If the value has only gone up a bit, maybe it’s worth riding the bumps and holding onto them for another 3-4 years. I personally don’t think the Invercargill market will drop to a point where house values will fall significantly, if at all. When you compare prices in Invercargill to other areas, such as Dunedin, Rotorua, etc.. prices are still relatively cheap. When the market turns, it’s normally the higher end of the market the moves the most.
Regards,
OziThis may interest you:
http://www.stuff.co.nz/stuff/southlandtimes/0,2106,3245112a6011,00.html
Regards,
OziThat makes sense. Look at how much golfers earn!! They make a bucket load!
Ozi
Hi APerry,
Yes, I attended the Melbourne meeting and found it most helpful! I think Alvin and Westan did a great job getting the event organised. Investing in the US is very complex. It’s completely different to investing here in Aus, or even New Zealand. It’s not something you’d jump right into without doing thorough research first.
Regards,
OziHi Muppet,
I have 20/20 vision here is Australia. The sulphur in Rotorua must have affected my vision [biggrin]
Regards,
OziI would use your credit card. I found that the only time I would use cash was to pay for food at restaurants, etc where credit cards aren’t excepted.
I also had trouble getting used to the NZ currency. Their $2 coin looks like our $1 coin, and their $1 looks like our $2. Also, their 50c is like our 20c. I also once confused their $100 (I think) for a $20 or $5 (can’t remember exactly)… too confusing! hehe
Ozi
I can say that Freedom Air are great, and cheap! For return flights from Melbourne to NZ i paid $365, but I’ve seen them as cheap as ~$300 including taxes. Check their website daily as they are always running special deals.
Regards,
OziHi Tim,
Property Management costs vary from town to town, manager to manager in NZ. I think 7.5%-10% is about statndard. Some charge a flat fee of x% of the rental which includes everything from maintenace, inspections, etc… Others may charge you the x% extra on any maintenance, bills, etc.
Has the manager given you a reason for the increase? Also, the manager would be contracted to manage the property for you. Their fees and charges would be in the contract you signed. I’d re-read the contract and see if it says anything about fee increases, a discount period maybe?
There are two things you can do:
a) Negotiate with the current manager for a better fee
otherwise
b) They lose your business, and you can find yourself another manager. Having said that, if the manager is good and does their job right, it may be a better idea to stick with them and put up with the extra costs.
Regards,
OziHi Guys,
Thanks for the replies. I will be staying in the same industry so I guess I should be safe
Regards,
OziThanks Westan and GeoffB!
Regards,
OziHi Kerwyn,
Thanks for that!
Regards,
OziHi Kerwyn,
Originally posted by kerwyn:From my dealings I have found Harcourts are very professional. So professional that they saved me making a bad deal through another agent.
Is there only one property manager at Harcourts? If not, which one is looking after your property? I wish to contact them so a name would be helpful [biggrin]
Also, has anyone used PM Judy Anne from Ray White in Invercargill? If so, are you happy with her service?
Thanks in advance.
Regards,
OziI am also using ANZ. Their prices seem good. They use TOWER insurance.
Regards,
OziRobot, there are always properties for sale. Whether you would buy them is another story
Ozi
Hi,
I can answer this as it happened to me recently. The house I was buying fell through on finance by the previous purchaser, so when I made an offer, the agent decided to put in a 2 day cash out clause. Basically all this means is, I still have the 10 days to do my due diligence, however if during that period someone comes along and puts in a cash offer on the property, I will have 2 days to go unconditional or I lose the deal. The cash out period will be whatever the vendor/agent/purchaser agree to. I would try get maybe 5 days. In these circumstances you need to act quick, get your builders, finance, etc organised as soon as possible and ensure that everything is treated as “high priority”.
The reason this clause is used is purely to protect the vendors interests. As deals that fall through normally fail on finance, this gives the vendor a bit more security. This would be true in a heated market I guess.
Regards,
OziThere are a few companies around that do it, but I’ve been recommended by several people to use Value-it http://www.valuit.co.nz/
Don’t know how good they are as I haven’t used them yet.
Regards,
OziThanks ibuycashflow,
I’ve just shot off an email to my solicitor asking for clarifications. My solicitor has said that if I do not settle on the settlement date in the contract, I may be liable for penalties. However, I made it a condition in the contract that vendor must get the permit signed off before settelment date. So wouldn’t this mean the vendor is in breach of the contract? I am chasing this up. There is a default interest clause in the contract, but I am not sure who would be liable to pay the interest (?)
Regards,
OzitheBuildingSurveyor,
Thank you for the reply. I’ve actually been thinking about pushing the settlement date back from the start, but wasn’t sure how easily it could be done. Can the solicitor do this easily? Also, will I incur any costs at my end? I should chase this up with the solicitor.
Thanks for pointing out the issues that may need attending to. I now realise the potential problems that can arise from this.
Regads,
Ozhan
