Excellent outcome! Good on you for taking action.  It sounds like you're going to have a more positive experience with the new manager.Let there be abundance for all.Vicky

You might want to look into http://www.masteraccountants.co.nz on the NZ side, they have a lot of Aussie property investor clients.Vicky

When you're doing your research for the new property management company, ask them what their vacancy rate is too.  And, find out if some times of year are generally easier to tenant than others.  As you've already experienced, Dec/Jan is a hard time to find a tenant!!Here in NZ, I put all my tenants on a fixed term tenancy, so that I HAVE C…[Read more]

If I was you I'd be finding another agent NOW  … before you're in a right PICKLE!!!!!Clearly the outfit you're using are inflexible and only prepared to work certain hours, which doesn't encompass the weekend, which is when most working people (i.e. the kind of tenant you probably want!!) are available to view a property.  So many of these o…[Read more]

Sounds to me like you need to kick your agent for touch!  Two months is a long time to be vacant and it sounds like they are not focussing on filling your property.  Find somebody else who knows what they're doing!!!!Good luck, I'm sure it'll get sorted.Vicky

Sounds to me like you need to kick your agent for touch!  Two months is a long time to be vacant and it sounds like they are not focussing on filling your property.  Find somebody else who knows what they're doing!!!!Good luck, I'm sure it'll get sorted.Vicky

V8GHIA – Sapphire's post regarding lending in NZ is correct.  Most banks are requiring 30% deposit from Aussies.  Us Kiwis can get away with 20% if we can show good serviceability.  You will need bank accounts set up in NZ for ease of transacting rental income and mortgage payments.  Roost mortgage brokers, who facilitate Kiwibank loans, are req…[Read more]

Ima, The 11-second solution works in any currency because what you're comparing is the same.In the current state of the economy, I would expect you will need to show income to support a mortgage, even if you do have equity. The banks everywhere have tightened their belts on lending.  In your situation, my first priority would be to get cashflow…[Read more]

Ian, if you get over to NZ and come to the Hawke's Bay, contact me via my website and I'll give you the "grand tour".  Cheers,Vicky

Hopefully the "Powers That Be" are paying attention and can start up another section for selling goodies of all types on!!

Maybe the people running this forum could create a "BS" section specifically for spruikers to post in.  Our NZ site, Property Talk, has a special section called "caveat emptor" where the spruikers can post deals to their hearts content!!!Just a thought …..Vicky

Yes, finally we're starting to see some great positive cashflow deals come to the market in NZ – YAY!!!!   I'm a property finder in the Hawkes Bay (Napier and Hastings area) and after 3 years of low yields and difficulty getting finance, it is refreshing to be finding good quality +CF deals.  Whilst still few and far between, they are out th…[Read more]

Ah yes, Tokoroa!!   Tok was good to Steve in the early 2000s, he had so many houses there at one stage — all painted the same colour — that you could drive around Tok and know exactly which ones he owned!!  Personally I would not be buying in Tok these days due to the GFC, and especially if you're a remote landlord, you'll be wanting a more s…[Read more]

You probably won't get the growth you'd get in Aussie cities that are going off at the moment (Sydney), but at the moment NZ is a fantastic place to buy cashflow – which you may struggle to get in any of the big Ozzie cities.It really depends what your strategy is.  Are you wanting capital growth?  or  cashflow?  There is no stamp duty and no cap…[Read more]

Hi Fitzer,I'm pretty sure you can claim neg gearing and depreciation, but highly recommend you speak with your Oz accountant, who should know how to work the system to your advantage.  Ideally, it would be good if your accountant understands both the Oz and NZ accounting info in order to take best advantage of everything available for you.  I've w…[Read more]

SHALES – depends on what your buyer wants.  Most people I work with need/want a minimum of 10% under a live (recent) registered valuation, and 10% gross yield.  I have others who are happy to take neutrally geared as they are more interested in future growth and better quality property.Line up your buyer, then go find the property. Contact me v…[Read more]

BLOGS – you're right, achieving massive growth over the coming few years is going to be virtually impossible compared to the last 10 years, however what we are in NOW is CASHFLOW SEASON!!!!  It's currently not about growth, we are in the "winter" season of property, it is now all about CASHFLOW, CASHFLOW, CASHFLOW.  And, there is TONS of it out t…[Read more]

LINAR you've had legendary results and it's wonderful to hear your story.  Well done, you deserve the credit.Cheers,Vicky

SCOTT NO MATES – I always contract with lots of due diligence that I can back out on.  Have never been caught with a property I don't want. LINAR – Amen. Thank you!!!!SHALES – Yes, bird dogging will definitely give you the confidence and you'll get really good at writing contracts!!   It also depends who you want to work with,  i.e.  the main…[Read more]

SCOTT NO MATES —  I contract the property  from the vendor and assign the same contract to the investor for a fee.  Over time, I often sell more than one property to the same investor because I build a relationship with the people I work with, and if there's a renovation to be done, I project manage that, so the income stream doesn't ne…[Read more]