You're SO lucky to have IKEA in Aussie  it was one of my all time favorite places to shop when I lived in Canada.  Unfortunately IKEA hasn't made it to NZ yet.Vicky — pining for an IKEA fix!!!!

Going to auction is like doing a cash unconditional sale, there's no backing out mate, you're in boots 'n all and must do all your due diligence before you buy!All inspections need to be done before you bid as it's too late afterwards, you own the property!Yes, finance must be pre-approved before the auction.In NZ, the sale price becomes public…[Read more]

I like the old house with subdividable section best from an investment perspective because you are creating a "twist" that you can do something with the property when the market improves.  Or you could just add a minor dwelling on the back and rake in rent now and deal to subdividing later on (if this is allowed in the area).Vicky

You could advertise that you want to rent-to-buy a home or ask the vendor to leave some money in for you.  I don't know Melbourne, but a general advert in a local free? trader magazine type publication might yield you something.Good luck,Vicky

Yep, I think it's a great idea.  If you furnish it you may be able to get even more per room.  In NZ, we are getting $120+ for a furnished room for students and/or transient types that stay a month or so.  Make sure you have broadband in all the rooms and supply them with a big screen telly in the lounge room   Old furniture is fine, defi…[Read more]

Dunno guys, my crystal ball is definitely indicating "buy now"

I'm with investorswitch, carlin, reistar, diggerdigzit and posenterprises — it definitely IS a good time to buy!!Housing is more affordable that it has been for years!  Rents are going upInterest rates are going downInvestors (in NZ anyway) all seem to be asleep, waiting for the "bottom"Problem is, how will you know when we are at the bottom?  Y…[Read more]

Hi stargazer, Check this outfit out …. http://liveoutloud.com/I know, they're based in the US, but you ought to be able to find someone local that is running the "Millionaire Maker Games".  I'm in NZ and we have a woman here who travels around the country coaching and doing games evenings – very cool.  This Cash Machine stuff … http://liveoutlo…[Read more]

Here is a couple of commentator's opinions on the current New Zealand property market, both published in the last few days:1.  Kieran Trass' monthly "Property Cycle Commentary", http://www.tellmethetime.com extract from the February 2009 commentary, just released this week …“IF YOU ARE PLANNING ON SELLING property then you probably will have a wi…[Read more]

Bill might not be as far off the mark as you think.  Take a look at these …….Harry Dent Discusses the Coming DepressionPART 1http://www.youtube.com/watch?v=8sMdpuYbjBYPART 2http://www.youtube.com/watch?v=r9A_bIEfM1g&feature=relatedEconomic Collapse of 2009 – Greater than Great Depression of 1929Gerald Celente of the Trends Research…[Read more]

Personally, if I had a spare $12K floating around looking for a home, I'd put it into SILVER.  Stocks or physical…. educate yourself here for starters …… http://goldsilver.com/videos/?ss=07f43aeba99e54130997ca384d207813  and …… http://www.silverstockreport.com/index2.html It's an amazing time to buy with metals so low at the moment and d…[Read more]

Yes, I got it as a private email straight into my Outlook box!  Got as far as "Sierra Leone" blocked and deleted!

Yep Crashy, you're onto it!  That's exactly how a lot of traders doing flips and renos and investors doing lease options fund their next purchase here in New Zealand.  You've got to remember though  that the GST refund only applies to trades, NOT buy and hold properties. Interest rates might be a bit higher than in Oz, but the savings on get…[Read more]

In my reno experience, the best value is in changing the visual appearance!  I'm assuming we're talking about rentals here, right?Painting is quick and cheap and choosing a trendy colour can totally transform a property.  See Pix here: http://www.buyersagents.co.nz/before-after-pix/Next place I put money is low end (poly-prop) carpet and vinyl i…[Read more]

Nick, I've never seen wraps or leases advertised on the internet as such.  They are more a thing that you need to "create".  I find them quite a fun challenge, a bit like "match making"!!!!  If you're interested in planting some money in NZ, I have a house that the tenant is keen to purchase on lease option; he's currently renting the place.  It…[Read more]

Duckster's right on the money, you can only know if the property is priced correctly based on RECENT COMPARABLE SALES, i.e. a new Registered Valuation.A potentially 2-year old council valuation basically means NOTHING!  For starters, Council has ever inspected the house, so how would they know what state it is in or what it is really worth?It mig…[Read more]

If that happened to me I'd be stomping my feet and flapping my lips!!!Definitely kick up a fuss!!!  You can be sure if the shoe was on the other foot they'd have their hand out for late penalty fees!!  Maybe time to find a decent lawyer who understands who he's working for too.Good luckVicky

  My pleasure!!  I'm delighted to hear you've had good learnings.Vicky

Have a chat to Kris at Property Financial Solutions in Auckland and see what bright ideas he has for you – he's very innovative and has a team based in both NZ and Australia so may be able to sort out a way for you to release your equity …. http://www.propertyfs.co.nz/ Cheers,Vicky

Good question!  I don't think there's any way of really knowing if there's a genuine buyer out there.  Have a go at it, if you get it under contract with due diligence then you can determine if it's even a good buy, i.e. how much under a new registered valuation it it.Local council valuations really mean NOTHING, they really are only a &q…[Read more]