Forum Replies Created
thanks steve.
i just sold out on my nz property, i bought my last one for 96k in august, just signed off on the contracts to sell for 118k.
not bad for 3 months work.
i only spent about 3k doing the place up.
i also agree there are still deals there, when i was on the kiwi adventure (2) i found a 14% yeilding property but instead of buying it i had coffee with dave instead [blink].
my other concern is the nz reserve bank has said it will directly invtervien and stop kiwi’s from taking on more household debt.
how they are going to do it is anyones guess, the speculation at present in nz is a CGT or some such thing.
will be interesting to see what happens in nz this yearcheers all
shaunLead, Follow or get out of the bloody way
rotorua continues to grow as well, bought a place there 3 months ago for 96k sold it 2 weeks ago for 118k, and i only spent 2k on reno’s!
rotorua has a lack of quality and cheap housing at the moment which is pushing house prices up very nicely! [suave2]Lead, Follow or get out of the bloody way
currently investigating a nice deal.
house on two blocks = 70,000
rent 120 p/w (or 6240 p/y)
subdivide block aprox 10,000
sale of block 25k
moeny in,
20% deposit 14,000
legals etc 4,000
subdivision 10,000
28,000
sale of block 23000 (after legals etc)
so money in, 28k, for how long – 6 to 9 months
money out 23000 dollars
gives me a house for 5 grand!
and a COCR of 11.1%cheers all
shaunLead, Follow or get out of the bloody way
i must be reading this all wrong, i didnt see anyone criticising the results programme.
i would have joined up but i was in new zealand at the time doing [biggrin].
i would be interested (like others) as to some details, perhaps telling us how its structured?
what are you learning, is there homework, are you being held accountable?
just curious like most people here that didnt join or missed out tis allcheers
shaunLead, Follow or get out of the bloody way
yeah, i just sold my last IP in oz on friday,
50k profit, you’ve got to be happy with that! (sold place in darwin)
nearly ready for any correction, and then will start again.
cheersLead, Follow or get out of the bloody way
nice one!
i have an IP in rotorua, bought this year, 9% yeild and i havent even renovated yet!
might be time to sell already me thinkscheers all
shaun
Lead, Follow or get out of the bloody way
reminds me of the saying, ones mans trash is another mans treasure.
love the house!cheers
shaunLead, Follow or get out of the bloody way
i’m in nz at the moment, just read yesterday in the paper that the mill is scaling back alot of jobs in tokoroa and and keeping the rotorua mill going.
just be aware
cheers
shaunLead, Follow or get out of the bloody way
hi barb,
funny you should mention that, same thing happened to me with a guy wanting us to bring our clients to him for of the plan units in auckland!
politely told him no, but not before i scammed a free dinner out of him! [biggrin]shaun
Lead, Follow or get out of the bloody way
i think i know [biggrin]
i over heard him talking about it in auckland.
sorry i’m not going to say. just in case i’m wrong!cheers
shaunLead, Follow or get out of the bloody way
hi all, i too had a blast. didnt buy anything though. another contract fell over yesterday, so it leaves me with 4 left on the table.
wish i’d put an offer in on that14% yeild as soon as i saw it rather than dithering around.
i was due back in nz next friday but i cant shake the damn flu. i will have to wait another week after it just to sort myself out.
fellow ka2ers, you have my nz number give me a call or an email and i will catch up with you
shaunLead, Follow or get out of the bloody way
you’re absolutely right!
i have found a way around it, but it involves using a nz local as the majority stake holder in a nz company. even then my accountant cant tell me for 100% certain whether i will get away with it.
cheers
shaunLead, Follow or get out of the bloody way
I’m setting up the same sort of thing in new zealand. we dont source property, we dont sell you property, but we do pick you up from the airport, organise accomadation and transport. and ensure that you’re paperwork is in order before buying over here.
cheers allshaun
Lead, Follow or get out of the bloody way
hi all, its shaun from canberra.
i’m coming along too!
i just found out yesterday (wednesday)
i was in auckland on the weekend, when i ran into dave and steve. after some gentle persuasion (i offered dave a signed copy of a book i’m in) he said i could come along.
as i was networking over there anyway at the time. ive organised transport. a friend over there is going to drive me around for 7 days. i cant offer anyone else a lift as i later found out its a porche!
i’m pumped and excited at present, and because i’m behind the rest of you in organising. i am runnning around now organising finance/company etc.
cheers all
shaunLead, Follow or get out of the bloody way
just revalued a property i have up there in larrakeyah, bought for 210k now worth 265k.
rents are finicky and if you dont buy in the right area you will have long vacancy periods. go for properties that the locals want to live in, not the tourists.
vacancy rates for larrakeyah are currently at zero!
cheers
shaunLead, Follow or get out of the bloody way
firstly my background, i am speak timorese and have been over there a few times and have friends there.
the problems that arise are:
the indonesian military (in particular the generals) whilst living in ET stole alot of land to build coffee plantations. (this is why the military didnt want to leave by the way).
and since they have gone, there are no records of who owns what land. its relied upon by word of mouth. there are also disputes arising because i a family had their land stolen 25 odd years ago, and now another family are saying its their land. who do you believe?
the locals are living way below the poverty line ie 2 dollars a day at best, and with still very little infrastructure there, who are you going to rent to? the Non Gov’t Organisations (NGO) usually stay at hotels just to be on the safe side. crime is up, gangs of children are everywhere (called rascals i think)
hope this is some helpobragado!
(thanks)shaun
Lead, Follow or get out of the bloody way
i agree with yorker on this one,
i bought there 2 years ago and have seen substantial growth. getting the rents put up however has been a battle.
originally when i was looking up there (i used to live there so it helped). finding information was the hardest thing. steve once said that the stats didnt justify buying there, however overall stats are no good, only because there is a major influx of tourists/backpackers every year. you need to find out where the locals are living, not the tourists.
cheers allshaun
Lead, Follow or get out of the bloody way
i put a unit up for sale june last year, but didnt get any offers after 3 months.
it was giving a 8% yeild too!
i ended up keeping it, got bodycorp to approve lock up garages which go in once we get council approval.
moving back into it for the next 12 months and refinancing. then sitting back and wait for some direction in the market.
cheers
shaunLead, Follow or get out of the bloody way
theres one we used to use in the navy,
so my apologies if its offensive. which goesmate you must have 2 di.ks, cause you couldnt be that stupid with just one!
cheers
shaun
Lead, Follow or get out of the bloody way
going on a bender – bending what?
a good one i heard in indonesian is
berada undang yang belakang batu
(theres a prawn behind the rock)
from what i eventually found out it means “theres a hidden agenda”cheers
shaunLead, Follow or get out of the bloody way
