Hi Guys

Sorry for the delay in getting back into the forum. I see theere were some questions on where I brought in Hawera.

To protect the tenants privacy I won’t be exact other than they are streets that border the town.

Both were do ups. I brought themm straight after Stephens presentation in NZ in June, 2005.

1. 5 minutes walk from town is a…[Read more]

Hi minimogul

Agreed with your sentiment. It is all intertwined and understanding the macro economic drivers was a question I possed on this site six months ago and got no replies. They are fundamenatl for being at least an informed investor and I believe that mny of the gurus are deliberately underplaying two key areas as they try and get people…[Read more]

Well Muppet you know my views of Tokoroa given all the other greta areas in NZ. Apts is that area is just damn right silly!

These are interesting times for sure.

Steve

You have just been to Auckland, (sorry we did not catch up), and must have seen them. What are your thoughts on them as an investment?

Hi Muppet

VERY interesting article. Don’t you love the spin!

Dunn blamed (‘BLAMED’ INSTEAD OF ‘EXPLAINED’) bad publicity about the market, falling rents and an oversupply of apartments for the situation (WELL Mr DUNN THAT JUST ABOUT COVERS EVERY REASON!! THESE ARE INVESTMENTS ONLY FOR OUTER TOWNERS. next headline should be KIWIS USE AUSSIE…[Read more]

I use the proffessionals who are very good.

Sorry that should be Queensland not Queenstown!!

Hi Muppet

If the site could take pictures I would show you as i have some shots on film (I went there to see for myself what all the fuss waqs about). Boarded houses, Boarded shopping block and a supply of rentals. Couple this with the insecurity of the employment situation and the attraction is what??

Is it any wonder it is Aussies buying there…[Read more]

Not at all, so long as it is cashflow positive. That in essence is the morale of the site and this philosophy on prop. I have also sold property to fund renos which ensure stable tenants and good rents. Finally, and a key part of the puzzle, I do have good cashflow from my business which enables me to handle shortfall and provides the banks with…[Read more]

Hi Westan

The more I read from you the more i like your style!!

As promised i will up-date everyone on the purchases that I made after attending Steve’s presentation in NZ. Stuck to the goals that i had and picked up 815k worth of property all over 10% at various places around NZ.

All were 10%+ gy and one of the major areas that i came across…[Read more]

Hiya

I know where you are coming from but seriously give it a try. Give it a bash with an existing property you have and tell me it works?

What repairs
– Often it is an outside paint
– Carpet etc. i agree and often try and get some time between settlement and confirmation to get this done. My secret there is agree to give them some money to…[Read more]

Hi Westen

Glad to keep this going. In response to your questions:-

Re the clause- often in towns that are smaller there is only a few property managers, sometimes you may not have the luxury of using a different manager to the selling agent.

This is true. Howver, the PM does not want to take on a lemon and it is all about building trust. If an…[Read more]

Hi

Re: The clause.

A good point was raised re: The agreement. The key to this is however to have your management team seperate from your real-estate team. This way the propertyy manager will only put someone in that they like. This ddress the concern raised.

You are right about knowing vacancy rates in small towns. However, there is HUGE…[Read more]

To Sinead

Sorry for the delay in getting back. I had some down time so went back on the site to see you asked me a question directly.

Have I sold

Absoultely.

As I mentioned at Steve’s seminar i discovered most of his rules by accident and then had them confirmed by his book and never looked back.

I have sold a few properties but like you…[Read more]

Hi Steve

I have read the other posts and of those i would support are the following:

will appreciate your thoughts and views on the recently updated book “The Dollar Crisis” by R. Duncan. Also your thoughts on the The Economist ‘s recent themes on the ‘worldwide property market bubble’.

To tell you the truth I am interested in seeing what you…[Read more]

Hi

It is simple money in money out. I saved for my first house by renting because it made economic sense. Low rent in a <edited> house is cheaper than all the added costs of owning a property. Rememebr the idea of sacrfice for future gain?

You could always buy and rent out all the roooms, except 1, as a means of killing two birds with one stone.

Hi Hong

My formula for selling is as follows:
a) Have I added as much as I can to the property
b) Has the yeild dropped such that my investment (given the equity in the property) is now in a better place.
c) Can I sell on an insane low yeild.

If the answers to these are all yes than sell. Rememebr you brought to hold but you could never have…[Read more]

Hi

My name is Paul and I attended last week. As I mentioned at the seminar I have 23, or 24 now holding a good % of which are in small towns. I can’t say I have any idea on vacancy rates in general BUT:
a) Know yopur apprehension. I had it as well and initially got over this with a clause to say that the property manager had to find a tenant…[Read more]