Hi,

A few comments.

First, this is a very interesting article, however it remains one man’s opinion. I’m sure the RBA would have a different view on some of the topics raised.

Second, if you have a long-term settlement then it would be wise to compare that with your position of the market going forward. For example, if you thought prices would drop, why would you hold the investment?

Finally, if you could settle early top secure finance you’d have to weigh up the cost:benefit of this and whether you have the available funds to settle now.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

I’m inclined to agree with Rob. I can certainly remember the dark days of loan-calls from the early 1990’s.

However, recently looking through some of my loan agreements on investment property (for the book) I can’t see any clause that allows the bank to recall a loan that is not in default.

Having said that, the LA does give the lender the pwer to look through the property and has to approve tenants etc. Practically this never happens, but I guees it could be a clause relied upon to suggest a default situation.

Still, Bill’s warning (although a little like Chicken Little) does hold merit. I too am worried that investors are rushing to NZ like the gold prospectors of yesteryear.

Rob’s comments about due diligence are very well made. I add that offshore investing is always more risky as control is more remote. There are plenty of opportunities, but never allow greed to override commonsense.

Nice to hear from you again Bill.

Regards,

Steve McKnight

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Remember that success comes from doing things differently.
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Congrats Monopoly,

I think it’s important to remember that forum moderators certainly don’t have an easy job.

They are subject to criticism for simply trying to retain order. I’m very appreciative of all the hard work moderators put in.

Regards,

Steve McKnight

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Remember that success comes from doing things differently.
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New Zealand?

Don’t buy property there mate… the houses are held up by piles!!!

Seriously, my advice for people interested in investing in the land of the long white cloud is to get on a plane and see for themselves.

Yes, there are some good deals there, but there are still plenty of opportunities here too.

BTW, there will be a new product released in the next few weeks outlining more about NZ investing. It’s an interview I did with Kiwi property investor and legal expert Mike Ward. It will be at the cheaper end of the spectrum… less than $30.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

I found this on a US website:

This is my understanding too, although, to be honest, I wouldn’t want my kids playing anywhere near it.

So… the general consensus from my research seems to be that so long as the asbestos has not been damaged (illustrated by it flaking or wearing away) then it should be OK.

Just don’t go anywhere near it with a power tool!

BTW, be on the lookout for asbestos fences in the area. If they used it in roofs then they may also have used it when building fences too, especially in lower socio-economic areas.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

Interesting discussion.

My thoughts are that it’s ok to be sceptical, but don’t let it cause you to miss out on a learning opportunity.

I’ve heard Robert Allen speak on several occasions now. His marketing may be suspect by Australian standards, but his information in respect to wealth creation is fantastic.

I have certainly learned a lot about profitable real estate investing from Robert Allen.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

When inviting someone to become a moderator I look for someone who has demonstrated a track record for trying to assist forum members, either by answering questions or by adding to the fabric of the site.

The moderators have a difficult job, and while they are not immune from making a mistake or two, but they are of good character and intent.

Being a moderator is not by nvitation-only, you can nominate someone (or yourself) if you’d like to participate… simply send an email to admin @ propertyinvesting.com

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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