Hi Kurra

which island are you going too ?
email me directly and i’ll put you in touch with some legal people depending what cities you will be in.
Try to have a good knowledge of where you are hoping to buy before you get to NZ , its actually a lot bigger than you think and you risk running all over the place so have a plan to check out some…[Read more]

Hi Spanky

you raise some good points and i see where your coming from, i’d like to add to your comments then answer your question.

firstly the media is always against property, very rarely are the journalists investors so they have no idea.
secondly when they ask for “expert” opinions they usually consult someone from one of the financial…[Read more]

Hi everyone and thanks for your contibutions.

It looks like 2005 will continue to be a year of heavy buying in NZ. Good luck to everyone (not that i believe in luck, that was a bad choice of words.)
Yack you said
“As the yields are no longer good and there has already been alot of capital gain, now may be the time to move back to Aussie”.
I was…[Read more]

Hi Quggles

those are good rates (6.5%), do you know if the person who offered this to you has actually financed foreign loans ?
From my personal experience and those of people i’ve spoken to- in American everyone says “Yes” i can get you a mortgage , and then they run around to see if they really can , in nearly all situations they have failed to…[Read more]

Hi Trish

This is why i say they are harder to find. I’m not being doom and gloom just saying like it is. And this is like it “really is” not just the way i see it.
Firstly remember that not all deals showing 10% returns are worth buying.
Trish i’ve been buying for myself in NZ since june 2003 and have personally purchased over 25 homes. In June…[Read more]

Hi Pen

The market has certainly changed since you purchased 6 years ago (well done a great deal you got).
Today if people are buying to put money in there pocket (cash positive properties) then they have a few option
1.don’t buy, because cash positive doesn’t exist in Vic in 2005.
2.work incredible hard to find the rare cash positive deal
or
3.…[Read more]

Hi all

Hi Quiggles, actually i think there is real difficulty getting finance, i’ve spoken to lots of people and the story is always the same- people make promises that they can supply finance but then they can’t deliver. I’m sorry if i misunderstood your situation i thought you were in that catalogy, i’m getting confused as i’ve spoken to so…[Read more]

Hi all

guys just check that if you want to use an LLC in the states you will find it (nearly) impossible to get finance as a foreigner. Quiggles that may be why you can’t get finance ? I’ve had no problems sorting the finance delemna. This doers create less assett protection so you need to make sure that you/home has adaquate insurance.

regards…[Read more]

Kerwyn

i understand your point of view. But you should be able to arrange a building inspection in the 3 days. As far a finance goes make sure you are pre approved. The important thing is don’t buy the property till you have done all your ckecks, you are correct that the proper DD must be undertaken.

you need to find the right balance in time…[Read more]

This story in the NZ media may interest you on the leasehold topic

LEASEHOLDERS ROCKED BY RENT HIKE

News Release Date: 2 February 2005 NZ Time.

Source: Taranaki Daily News

North Taranaki leaseholders face massive rental increasesas rocketing land values force leases up. The news has some people living on leasehold land panicking that they will…[Read more]

Hi
i have just receieved an email from an agent i work closely with, she has no properties under 150k left, all have been sold!
she also said she has buyers prepared to buy at 8%.
to be honest i’d consider selling some of mine at the price! Certainly wouldn’t be buying. But thats me.

regards westan

I live in New Zealand and for a fee find cash…[Read more]

Hi Sparticus

i’ve used the Dunedin office for about 8 of my own properties and even more of our clients. I’ve personally found them to be of excellent service and the price is as good as you can do in NZ. Others i’ve spoken to haven’t found their service as good as i have.

as far as communication yes the agent should send them paperwork to them…[Read more]

Hi Kiwi-pi

yes the last census shows the population had declined (as had invercargill). The census was taken in the year 2000 i think and since then there has been a turn around. I’ve only lived in New Zeland since dec 2003 so i have to rely on what the locals tell me and that is that there is certainly more people about. Rental demand is alway…[Read more]

Hi kiwi pi

i live 70km from Gore and its a great little city. I’ve got properties there and we buy as many as we can for our clients there also. Employment is very strong (as it is for all southland) there are some great future prospects for the city also.
It has a vibrant shopping distict also.
the problem is the town has had great price growth…[Read more]

Jarred

what ANZ have told you is the way i’ve found all finance providers in NZ operate. If PG has found someone who will give 90% i expect his mortage business will boom.

regards westan

I live in New Zealand and for a fee find cash positive deals there, email me at westanjohnson@hotmail.com to join our database

Hi del

yes good point, i’ve also bought cross lease before and would do it again.

regards westan

I live in New Zealand and for a fee find cash positive deals there, email me at westanjohnson@hotmail.com to join our database

Hi Monopoly

just to answer your question about returns in NZ, yes you are right , it is a lot harder to find properties that are showing a return ver 10%. But they are still there. Saddly its not 2003 anymore when you could drive into most cities and pick up deals showing 13%+ returns.
Personally i’ve found a new market not in Oz or NZ where i’m…[Read more]

Hi Matt P

i too have been away for ages, it seems like there are heaps of new people about !

regards westan

I live in New Zealand and for a fee find cash positive deals there, email me at westanjohnson@hotmail.com to join our database

Hi Barbie

No there are no cash positive properties in Melbourne.

In Regional Victoria there is vertually none and you will find some showing 10% retruns if you buy in very remote little communities (not advised).

Droin is a great little town i spent the first 3 years of my life there but it hasn’t been cash positive for 10 years (guess). It…[Read more]

Hi samveda

welcome to the forum.

???? that question has confused me because you must know how to do it to write the question ???

to reply to questions just look at the bottom of the question and you will see a box that says “add reply” it’s about 6 inches below (unfortunatley there is advertising in between).

regards westan

I live in New…[Read more]