$6,000 +CF doesn't seem like very much for all the effort required to:1. convert the property from 3 flats to 5 flats and 2. manage 5 different single tenants randomly leaving at their whimWhat type of tenant are you going to attract to a 1-bed flat?  My experience would put money on the tenant pool not being of the highest calibre!! How re…[Read more]

Wow, what a fantastic idea!!!!  But eldredni, how would you like all the other bidders to be able to see your offer?  Nah, no such luck, not in NZ anyway.  Legally agents are not allowed to tell you anything about the other offers.In my experience, I've used this with agents …. "would $XXX buy it?"   I've found some crocked enough that they will…[Read more]

Hi Crashy,Yes, solicitors charge like wounded bulls!!!  They charge by the minute – every time they do anything for you the timer starts ticking.  Yep, they do the searches too.The quickest I've managed to settle is one week (5 working days) and my solicitor wasn't happy about having to work so hard!  That said, he completed the settlement on the…[Read more]

Hi Crashy,Can you be a bit more specific about your question?  I'll do my best to answer…Building inspections – cost about $400 here (I'm based in the Hawke's Bay  – Napier/Hastings area) and the person I use goes over the place with a fine tooth comb and gives a full written report (verbal for about $100 less if you wish).  Solicitors – cost ab…[Read more]

dsuovann, you can purchase freehold property in New Zealand no problem at all.  Funding is as easy as in Oz and there's no stamp duty.

I'm a local NZ property finder and we're regularly seeing single dwellings returning over 8% +CF and multi units in excess of 10%.  For more info and to join my investors mailing list, check out my website http://www.buye…[Read more]

dsuovann, you can purchase freehold property in New Zealand no problem at all.  Funding is as easy as in Oz and there's no stamp duty.I'm a local NZ property finder and we're regularly seeing single dwellings returning over 8% +CF and multi units in excess of 10%.  For more info and to join my investors mailing list, check out my website http://www.buyers…[Read more]

Richard, Terrance the original poster seemed unsure how to create +CF with interest rates so high, maybe you can help him out.I've struggled to make lease options work in a hot market, how have you got around that in Qld's boom times Richard? 

Something that's working investment wise over here in NZ at present to create +CF is Lease Options.  Example:  Purchase property at $220K, with 20% deposit into a GST registered Trading Trust onsell at $260K with a 3-year lease to tenant buyer.  Collect $5000 non-refundable option fee up front, collect $520 rent and option payment weekly, give $1…[Read more]

If you have a job and a small deposit ($5K) for a <80K house I know a couple of people that are doing long-settlement rent-to-owns and wrap-like deals that may be able to help you.

PM me if you wish

Successful investors make their money when they buy

Hi macwa,

Mini has an awesome property I spotted on Monday in Dannevirke if you’re interested. I’m sure she’ll be happy to send you details. I also have another that I was going to keep for myself that I could pass on, awesome house, excellent location, good for a keeper. Send me your email and I’ll hook you up with the details. Mini also has…[Read more]

Nkibel, I wish I had a crystal ball and could see where property prices will be in 10 years! But one thing you can be sure of, there will be a lot of Aussie and Kiwi investors sitting VERY pretty and not needing to worry about what the governement coffers have to offer them!

Successful investors make their money when they buy

If you’ve ever been to one of Olly’s one-day or weekend workshops it is obvious he has been investing for a long time (40+ years I believe) and has experienced numerous up markets and his share of down markets and thus has learned the cycles and what to look for in a changing property market.

Olly is one of the few people on the speaker circuit…[Read more]

My personal experience is that I’m “CHEAP”, i.e. way down in the pecking order!!! I’ve yet to get a single property at tender. It seems like the real estate agents use the tender process to create interest and pressure purchasers into paying higher prices than they might otherwise (a bit like auctions!)

My understanding, from a recent…[Read more]

Redfish, it’s so cheap for us because we’re subdividing in a small town (Woodville) of only about 2,000 population in Tararua township. The surveyors were in today to the tune of $2,500 for survey and drawings. We had to wait about two weeks from giving the surveyor the go ahead after receiving the Resource Consent.

Obviously not all towns are…[Read more]

Aptam,

Yes, my understanding is that the bank will appear on both of the new titles created — our lawyer will see to that!

PC

Successful investors make their money when they buy

Redfish — we’re only two months into the project, but yes, the $5-6K estimate is all up including council, surveyor, lawyer. In this one-off case our accountant advised that we won’t be classed as a developer, so no tainting.

Aptam – to date we’ve done nothing with the bank. Didn’t have to run anything by them first. After the properties are…[Read more]

We’re in the middle of subdividing a residential property off a commercial property and the main thing I can tell you is that it is a SLOOOOOOW process.

Estimated time start to finish is 6 months, of which five months are spent with papers being shuffled around bureaucrat’s desks!

My understanding is that first you need a cadastral surveyor to…[Read more]

Where is the property? If it’s in a university town you could rent it by the room to uni students. I’d recommend paying a cleaner (built into room rent) to come in and clean the place every week though otherwise you might see your investment going down the gurgler!

If it’s in a fruit/grape area you could fill it with pickers for a good six…[Read more]

What is a “bad experience” for some may just be an “opportunity to learn” for others. It all depends on how you choose to view it! Personally, I’ve never had a bad experience, but investing sure provides lots of learning opportunities [grad]

Dump the Hamilton deal and contact MiniMogul, she’s the queen of finding NZ CF+ deals to order!

All the best!