Total Members: 159,206

westan

  • westan replied to the topic Morwell, Moe and Traralgon in the forum Help Needed! 19 years, 4 months ago

    Hi Hugo and G7

    i agree with G7 that its not the time to buy in the LaTrobe Valley.

    Was it ever ? G7 Asks, well it was before prices doubled. I bought in 1997 but sold 2003 , very happy to be out and couldn’t see buying there again unless something dramatic happened , like prices halve or rents double, both would be even nicer.

    regards…[Read more]

  • westan replied to the topic No Capital gains Tax in NZ in the forum Overseas Deals 19 years, 4 months ago

    Hi all

    i agree with Don.

    yes the Kiwi Dollar is taking a HIT of the past month. Great for people wanting to invest in NZ. Not good for those wanting to take the money home[bawl].

    I agree with you there is a real chance that interest rates will lower which will be great for all investors. It was NZ very high interest rates that turned some cash…[Read more]

  • westan replied to the topic My 12 months Plans what are yours ? in the forum No Subject 19 years, 4 months ago

    Hi Guys

    Xenia
    How are you doing the rehabbing?I have a team that i’m working with in Texas that i’ve already done a deal with. I created this team last Nov when i went there an so far things are going well. They have all the expertise, local knowledge, skills to rehab, the exit strategy.
    Are you planning on living there (in the USA) or are you…[Read more]

  • westan replied to the topic Overseas Property Purchase in the forum No Subject 19 years, 4 months ago

    Hi Simon

    I’m not an accountant, so check what i’m saying.

    The USA, NZ Aust the UK and a few other countries have double tax agreements so you will not pay double tax.
    However things can change depending what entity you buy the asset in. For instance if you buy in the USA using a C-Corp you will not get the full benifits of the double tax…[Read more]

  • westan replied to the topic USA Flips in the forum Creative Investing 19 years, 4 months ago

    Hi Geoff

    thanks for the footy scores [bawl] [cry]

    well there’s always next year [:D] , as a Tigers supporter i’ve been saying that for a while.

    Oh i see its only your prediction !!! Wow you had me upset, i’ll just wipe down my tears off the desk. I forget we are 2 hour ahead its 4.30 here in NZ. So Go Tigers

    Anyway back to investing, although i…[Read more]

  • westan replied to the topic Landlords Insurance in the forum General Property 19 years, 5 months ago

    Hi Guys

    maybe we should list those who offer the best Land lord insurance policy. looking at the deals around there is quite a diversity.

    as far as rent while unlet, my policy which i’d claimed successfully on, paid out if a tenant left when the property had a lease in place, it also covered the time till a new tenant was found, which allowed…[Read more]

  • westan replied to the topic Gore , South Island in the forum Overseas Deals 19 years, 5 months ago

    hi xenia

    that’s an excellent point, these types of situations can create real opportunity (for the brave), but over time they will usually be rewarded.

    just as a side issue, People in Victoria will remember when Jayden Lesky disappeared from a house in Moe. When this home came up for Auction i was expecting there to be little interest because…[Read more]

  • westan replied to the topic Time to Consolidate? in the forum Opinionated! 19 years, 5 months ago

    Hi all

    yack you said
    In my view buying in the US is too risky for me
    Thats fair enough, i know you only like to buy near where you live, for me buying all over the place has shown huge rewards.
    they too are in a smimilar position in the property cycle. While there is a lot of talk about the US market being over valued the general view is that…[Read more]

  • westan replied to the topic Any suggestions??? in the forum Help Needed! 19 years, 5 months ago

    Ok Simon

    let assume its rented for 52 weeks of the year (i’m being generous).

    Income $255 per week equals $13,260 per year

    Now expenses if you borrowed 95% of the $145,000 That would be a loan of
    $137,750 at 6.75% equals $9,300 per year
    Then we have
    insurance of say 300 per year
    Rates 1,910 per year
    Management @…[Read more]

  • westan replied to the topic Sourcing a Positive cashflow properties in the forum Help Needed! 19 years, 5 months ago

    Hi all

    Luke
    Are the people sourcing the deals professional licenced real estate agents?
    Some of them are. People like Australian House Hunters (formally Hunter House Hunters) are licensed Agents and they have insurance.

    Other such as myself (Property Investing New Zealand) and the people at “New Zealand Bird Dogs” aren’t but we are experienced…[Read more]

  • westan replied to the topic Any suggestions??? in the forum Help Needed! 19 years, 5 months ago

    Hi simon

    do you want some help ? tell me your purchase price, weekly rent and rates on the home and well see how it looks.

    regards westan

    Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at westanjohnson@hotmail.com to join our database

  • westan replied to the topic Landlords Insurance in the forum General Property 19 years, 5 months ago

    Hi Simon

    you are right a proper “landlord” Insurance policy like yours is a neccessity. The cost is very small when you consider the benifits, not to mention the peace of mind. I had Landlord insurance on all my Aussie properties. On one occasion i had a tenant in a property in Tas, who damaged the heater and the insurance paid for a $2,500…[Read more]

  • westan replied to the topic What’s interest only advantage? in the forum No Subject 19 years, 5 months ago

    Hi Peter

    this is the way i see it

    with a P&I loan at the end of the 10 years you will end up with a smaller loan, and own more of the home than if you had an Int. only loan. This is obvious because over 10 years you would have been paying part of the principal each month.

    Which is best ?
    it comes down to what are you planning to do with that…[Read more]

  • westan replied to the topic Time to Consolidate? in the forum Opinionated! 19 years, 5 months ago

    Hi Yack

    i agree with you ! but there are always the exception deal.

    as far as the comments don’t buy now. I’ve been saying that for the past 2 years. But 2 years ago on this forum i was telling people to buying NZ. Now i’m saying be careful what you buy in NZ but buy in The USA.

    As a gereral comment about the OZ market i agree, but for those…[Read more]

  • westan replied to the topic Smoke Detectors in the forum Help Needed! 19 years, 5 months ago

    hi geoff

    yes they are, i’d ask your managers to check if they are installed.

    regards westan

    We find cash positive deals showing 15-25% Returns in the USA email me at westanjohnson@hotmail.com to join our database

  • westan replied to the topic 100K positive cash flow propertys in the forum General Property 19 years, 5 months ago

    Hi Cama

    you can still find deals in NZ that are showing a 10% return, but even here (i’m currently living in NZ) the market has moved up strongly over the past 2 years and i wouldn’t want you to expect any move capital gains in the near future.

    regards westan

    We find cash positive deals showing 15-25% Returns in the USA email me at…[Read more]

  • westan replied to the topic Where are the bargains at? in the forum No Subject 19 years, 5 months ago

    Hi Elbows

    i’m with Nigel and Don, NZ is a great place to start. Although even in NZ its getting hard to find properties that after a 80% loan will put money in your pocket at the end of each month. But its so much better than OZ. Sadly you could spend forever looking in Oz and not find a suitable deal.

    regards westan

    We find cash positive deals…[Read more]

  • westan replied to the topic Smoke Detectors in the forum Help Needed! 19 years, 5 months ago

    Hi sharon

    that sounds more right. In South Australia its been the law to have these wired smoke detectors, mine cost about $100 also, when i put them in 5 years ago. In Victoria you only need the $10 battery operated ones.

    Regards westan

    We find cash positive deals showing 15-25% Returns in the USA email me at westanjohnson@hotmail.com to…[Read more]

  • westan replied to the topic When are you planning to retire? in the forum General Property 19 years, 5 months ago

    Hi steve

    My comments are slightly off the topic but here they are.
    i “retired” in 2003 when i was 39 years old, thanks to the rise in the property markets in OZ and NZ. My retirement plan was to move to NZ for a year to enjoy the beautiful country and dabble in the property market, at the same time i wanted to use this time to work out what God…[Read more]

  • westan replied to the topic Smoke Detectors in the forum Help Needed! 19 years, 5 months ago

    Hi geoff

    it suprises me that NSW hasn’t had this law already, South Australia and Victorian have had it for ages, at least 5 years i would think. I have a stong impression its law in NZ also.

    Its a wise law.

    regards westan

    We find cash positive deals showing 15-25% Returns in the USA email me at westanjohnson@hotmail.com to join our database

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