I would suggest that you secure the property under contract in your name and/or nominee (subject to due diligence, or a clause that states you will be forwarding the deal, if you have lots of buyers and know this can be done quickly) before offering the deal for a spotters fee. This way you can freely discuss it knowing its already under contract.

Make sure you have enough time before the contract goes unconditional to find an investor (or have one ready lined up).

Alternatively you can just talk about it without a contract, but be careful as obviously someone could just go around you and sign it up themselves and not pay the fee.

John [biggrin]

(I believe that later this year there will be no +CF deals left in NZ. If you’d like Steve’s MAP protege living in NZ to leverage your time and find the deals to build your portfolio quickly, just ask me!)

I’m originally from Tassie and my experience there was the doubling of prices based mostly on yields compared to Sydney/Melbourne. All the investors in Sydney etc were saying ‘I get 2-3% yield on my IP here, I can get 6% in Tassie’ (that’s after the prices went up, initially we were getting 11-15% and it was all +CF!)

At that stage everyone was afraid that prices had already gone from say $50K to $70K and it was too late. BUT my property I bought for $53K sold for $106K as the boom continued.

The same is now happening in NZ. You can still get the 11%+ yields here, but there are more and more Aussies and Americans buying here and driving the yields down. I’m happy to buy something that’s +CF here today, fully expecting it to go up in value as yields fall. NZ is just behind Australia, that’s all.

eg. $50K property at $120pw = 12.5% yield
at 7% yield, $120pw means a price = $89,000.

Maybe prices wont double here in the next 12 months, maybe they will? But if its +CF already, and potential to go up… that’s why I moved here.

John [biggrin]

(I believe that later this year there will be no +CF deals left in NZ. If you’d like Steve’s MAP protege living in NZ to leverage your time and find the deals to build your portfolio quickly, just ask me!)

Hi Ceec, welcome to the forum.

I am investing in NZ, north island. To put it simply, its booming here right now. In fact I’ve just adjusted my investment criteria as I was missing out on some great deals by being too selective. Now its all going well and I am about to purchase another investors portfolio in one go.

The way I see it is that by the end of this year there will be little left in the way of +CF deals. Just like in Australia, if it meets the 11 sec rule now, by the end of the year the price could rise and it will no longer meet this rule. (See Steve’s book if you havent heard about this).

So its important to get in quickly, and that’s why I moved here from Sydney to invest.

Let me know if I can help in any way.

I’m in the MAP, and can provide +CF deals in NZ for a fee. Email me for details.

Great post Schardijn, well thought out.

If you are challenging your comfort zone (meaning you feel frustrated or uncomfortable) then you are growing and achieving.

I made the mistake last year of focussing on the dream, the goal, the passive income and financial freedom. Trying to achieve these things in order to become truly happy.

I realised that i needed to be happy on the journey to these things, NOW. not later…

So I took massive action, resigned from my job and moved to NZ, and now invest full time. I wish I did it sooner, and even though there are plenty of frustrations and setbacks as I take action – I’m a lot happier than I was last year.

I dont know why more people dont take the chance. What’s the worst that can happen?

I’m in the MAP, and can provide +CF deals in NZ for a fee. Email me for details.

Steve, the wrap kit will confirm that wrapping is for you or not. Whilst I havent read it myself, I know Steve has carefully written it and it is as current as current can be.

At first I chuckled at your post, then realised that your attitude is spot on for success – so give it your best shot!

If you’re trying to justify the cost, ask yourself: What’s the worst that can happen? What have you got to lose? and then ask What’s the best that can happen, how good will it be if it works? You should then know what to do.

I’m in the MAP, and can provide +CF deals in NZ for a fee. Email me for details.

I agree it is the net income that is passive ($1K). There are many ways to describe it, some refer to it as residual or recurring income because its not actually passive (you have to do something in order to get the $1K, especially in a wrap say) but at least its a better form of income than wages, as it will recur each year whilst you have the property. That’s the sweet part.

I’m in the MAP, and can provide +CF deals in NZ for a fee. Email me for details.

Steve said: “And there’s a sacrifice that must be paid, since to receive the benefits from investing you must first step out in faith (since the results will be unknown) and take action”

In my case, I was deep in a comfort zone (my job in Sydney) yet I was not comfortable! The MAP was the catalyst i needed to take action and resign and move to NZ to find +CF deals. Now I wish I had done it sooner, and faster.

When thinking about your purpose, your plan and your passion – keep in mind that these all relate to your journey just as much as the end result. And your journey needs to be the fun part!

I’m in the MAP, and can provide +CF deals in NZ for a fee. Email me for details.

Try this! Make the deposit payable at the time the contract goes unconditional (i.e. the deal is definitely going ahead).

That way you dont pay any deposit until as late as possible. Agents like it as they dont have to bank and possibly return deposit cheques all over the place.

Just include a clause to this effect in the contract.

spi, well done on learning what you can! You should keep reading good books like RDPD and Steve’s, and the forum to keep learning. You will also learn by taking action (even though this will mean stepping outside your comfort zone).

You may feel that you are not ready, but you can always check what you are doing on the forum, step by step. just ask!

So start by talking to a real estate agent. Look at a property. Work out the numbers, ask more questions. You dont need finance or a trust to start looking [] and it costs nothing.

When you find a deal and want to go ahead with it, you will learn the finance side as its needed. It will be easier to learn as you will know what questions to ask at that stage.

Del was the one with the champagne!