Mate can I say you are pretty swicthed on for a 17 year old, congratulations on taking control of your life and taking a big step towards a prosperous and successful future. The only thing I was chucking my money into at your age was my car….if I could turn back time

[aacool]

Hi Missa,

As you start looking into investing you will find a whole new world out there, and if you are anything like me you will be inspired by how much is out there for the taking.

I was in your exact situation a couple of years ago and since then I have been researching and re-educating myself for my new path in life (no more rat race).

What…[Read more]

At the risk of contradicting myself I should also point out that the advice of certain people can be priceless, especially those who have been there and done that and have made/learned from mistakes.

And with reference to my post above it is not fair to taint all real estate agents with the same brush [cap]

But to be able to ascertain good…[Read more]

Hi Cupcake,

What I would recommend first of all is to look at why you are buying an investment property. You are right, it is a really big step and you want to make sure that it is the right step to be taking, and that it fits in with your goals.

I am a firm believer that you need to have a ‘why’ for doing things and every major decision that is…[Read more]

try http://www.trademe.co.nz, there were a couple there last week. [cap]

I am by no means a financial adviser, and this is just my personal opinion, I also dont have much knowledge of the AUS market as I live in NZ….

I would look very carefully at some of the high yielding debentures at the moment, particular where your money is going.

Over the past few months I have noticed a great deal of these high yielding…[Read more]

Hi,

Where abouts in Dunedin is the house?

Please forgive me if you already know this info, but I will say it just in case anyway

Because of the huge ‘out of town’ student population in Dunedin, the city will have pretty much emptied out now for the holidays, so you will probably struggle to find a tenant between now and February. If your house…[Read more]

In Northeast Valley you will most likely end up with the more ‘placid’ student.
I am assuming it is still the same as when I was there, where the general rule of thumb was that the further you got from campus, the more more placid the students tended to be as far as causing havoc goes.

There are certain areas on campus where your property has a…[Read more]

If you dont mind me asking, where abouts are the student places you have in mind…I might be able to give more advice based on their location[cap]

Cheers
Rob

As an ex Otago Uni Student (Scarfy) myself I would also put out a word of warning…They do not have the greatest reputation for looking after the houses that they flat in, so I would personally make sure that the place will be able to stand up to the Otago student lifestyle

Between tenants there may be a bit of work to do, so I would factor this…[Read more]

While in most cases just having subject to builders report and finance will be ok, I tend to be a little bit hesitant with just these clauses if they are not worded properly. For example if you have ‘subject to finance’ there is nothing stopping the vendor sourcing finance for you at a high interest rate and you may not have much of an out with…[Read more]

Hi Woodend,

The accountant that I mentioned above specialises in this type of thing, and I am sure would be able to help. If you would like his details flick me an email or PM

Cheers
Rob

I know of a great NZ based accountant, who has very reasonable rates. Just flick me an email or PM if you want his details

Cheers
Rob

In a nutshell a property will be positively geared if there is excess income after all the related expenses (insurance, maintenance, mortgage payments etc) and you dont have to put in any additional funds.

In your first scenario you have $136 left after mortgage payments each month. If this covers your expenses such as insurance, rates and…[Read more]

Hi,

I second Westan’s recomendation of Home Transfer Centre, I dealt with them for my last purchase and they were very good, not to mention cheap.

I can also recommend a good accountant, his name is Donald Scott, he can be contacted on +64 027 210 3060.

Hope That Helps
Rob

Dymocks in Wellington have them [cap]

Hi Peter,

Im a kiwi, and have lived in most areas from Auckland to Gore, so have a good understanding of most of the country. If you are still looking, I would be happy to source a property for you just PM me the details and your requirements and we can take it from there.

Cheers
Rob[cap]

Thanks again for all the replies everyone. Property B is looking much better now, excpet that it sold a couple of days ago! [wacko] but there are plenty more property B’s out there (I hope)

The area that property B is in is about to undergo a great deal of development (when I say about I mean within the next 10 years) but the long time frame isnt…[Read more]

Thanks guys,

Yeah I think plan B is the option more suitable to my goals, and I think after writing the post I pretty much answered my own question. I think I had my heart too set on getting a positive cashflow property that I was writing off all other opportunities, even those that are more suitable to my situation.

Thanks again

Rob