Matt,

good on you for looking at how to get started. However you end up moving forward, one thing you must do right at the start is to set up the rules of the game.

Make sure it’s well documented in a legal agreement exactly what everyone’s roles are, what they each put in and what each gets out. Specify exactly what will happen if things go…[Read more]

I haven’t read her “Truth” book, but I found her “pocket guide” quite useful. There are definitely some things in there I don’t agree with, including some strong opinions, but that’s the same with anyone, isn’t it.

Just remember, it’s your game, so be realistic, but take the bits that fit your game and leave the rest. Don’t let someone’s…[Read more]

It is a bit of both, really.

Say you find a property you reckon is worth $100k. You look at the recent sales in the area and all the other houses around that are like the one you’ve found sold for between 95k and 105k. But you negotiate and find that the vendor would love to take, say $85k if you can write him a cheque today, no…[Read more]

I agree, serve the notice and do the reno.

One other motivator, though – don’t forget that if it’s Cash Flow Negative, it’s not only the fact that you could get an extra $30,000, you’re also losing money every extra week.

If you want to sell anyway, you know you can get more by doing a quick cosmetic reno and you’re under time constraints – just…[Read more]

I’m not too long in the investing tooth, so my opinions are only that. But…

We had a house in a city of 180,000. We bought it for ourselves, but when we moved out, it was positively geared. Right now it’d be neutrally geared at it’s current value (we sold it a few years ago).

I grew up in a town that 20 years ago had 4000-5000 people in it. It…[Read more]

Hi Mat,

This is what the NZ government opted to do with all their beneficiaries a few years back. Now beneficiaries are almost “in demand” tenants, ’cause you’re rent is government guaranteed – well until they get a job, anyway.

good thinking getting this to work with Centrelink.

Craig.

100% of the shots I don’t make don’t go in – Wayne Gretzky

Thanks Guys, that’s a great start all round. I’ve been thinking from entirely the wrong perspective. I’ll start from the outside – in, so to speak and look for that book asap.

Thanks again,

Craig.

100% of the shots I don’t make don’t go in – Wayne Gretzky

In NSW, I know that as a Kiwi living here I was able to claim the FHOG, including stamp duty exemption.

I’d suggest a call to the Office of State Revenue in the state you’re looking at buying in. They are the ones who actually enforce the rules, so go straight to the horses mouth, so to speak.

good luck.

100% of the shots I don’t make don’t go…[Read more]

Thanks Adam,

I have the same hesitation about potential Capital Gains, so I’ve been trying to figure out the demand/supply equation for the area. If I was looking at houses, I’d be pretty happy with the suburb (except their price of $500k+).

The prices are among the lowest around, with great transport infrastructure (train, bus and river ferry)…[Read more]

I did the Reno Kings’ property masters workshop last year.

I thought the day was a pretty good intensive overview of how to profit from a capital gain approach to property. Really quite good for a beginner (e.g. me). I’m sure a more experienced investor would have been able to gain valuable insight from it as well.

My only complaints are as…[Read more]