Hi all

Ryan, i have always diversified to spead the risk of having all the investments in one town.

Byronent, Broken hill isn’t the 3rd largest town in NSW by a long way. Broken Hill is a classic example of what can happen to centres that rely on one main industry, back in 1997 you couldn’t give away your homes there, some were selling for 25k.…[Read more]

Hi Byron

i’ve been buying cash positive properties since 1997 but by early 2003 i could no longer find deals in Victoria that were showing a high enough return. So i’m not surprised at all that you can’t find deals (unless you are prepared to speculate on a mining town in the middle of WA or some tiny little town km’s from anywhere). In 2003 i…[Read more]

Hi ksb7

i’m inclined to build your investments and rent especially if rental costs will be well below the loan payments on a home.

However i’d also look out for an opportunity to buy something, keep and eye on the market and try to pick up a bargain, one that is below market value or one that you can improve, this maybe a cheaper entry into your…[Read more]

Hi Michael

i find that agents often will not be as honest as they could about the rental demand of properties they are trying to sell. I suggest you ring the property managers in the town/city, ring all of them !
ask how many homes thay have vacant at the moment and how long have they been vacant , also ask why are they vacant. I say that…[Read more]

hi Grant

yep those are cash positive deals. i don’t expect you to reveal where they are but if you are looking into these types of deals make sure you have a good knowledge of the mine life. Obviously if the mine closes a cash positive home becomes a liability very dramatically.
all the best with your investing.

regards westan

I live in New…[Read more]

Hi female aged 20

yes if you could get 50k per annum rent it would be a great deal.

to get finance you will need a commercial loan, this usually means that you will need to provide 30-40% of the purchase price, the other thing to be aware of is the interest rates will be higher than residental investment loans.

regards westan

I live in New…[Read more]

Hi grant

can you give me an idea of the types of deals you call cash positive, rental income plus purchase price will do.

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 Arthur

there are differences between the states with the law and process of property transfers, i agree with crj you Must use a local person to do the transfers, when i’ve purchased interstate my Victorian conveyancer didn’t want to touch anything from another state.

regards westan

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

Hi all

i think one of the most valuable assessment that you must do is a free one. This is an “independant” rental assessment. Property managers will be able to tell you if the market assessment given by the selling agent is accurate. They will also help with their opinion on the rentability of the home. Switched on property managers will also…[Read more]

Hi gogo

i can understand your frustration. I too found that cash positive properties were very scarce. I wasn’t interested in investing in isolated little towns of under 5,000 people but wanted to continue my investing quest for cash positive properties. In 2003 i stated investing in New Zealand. Today the market has risen a lot but there are…[Read more]

Hi all

Sis i agree that we have just seen one of the biggest property booms in australian history,
but as far as the stock market goes the US has also just experienced a once in a life time boom as well. The stock market clocked an average annual inflation-adjusted gain of 12% from 1980 to 2001.
i wouldn’t be so confident that its about to have…[Read more]

Hi welcome to the forum

sorry to be very blunt but if you want to get ahead you need to cut back your spending.

with an income of 100K who guys should be knocking that personal debt off in 1 year.

how did you end up with personal debt of 27K, (you don’t need to answer this) maybe you are living way beyond your income. Cut back the spending and…[Read more]

Hi K and R

why have one mentor when you can have hundreds? aren’t we all mentoring each other a little on this forum ?

i’ve learnt heaps from people here, hope you do to.

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 Tim

i know an accountant in Queensland who is up with NZ, email me if you want the details. i don’t know if they are expensive (yet) i’m just very impressed with their knowledge.

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 Yack

i agree, be careful in the market.
just to clarify it was actually me who started investing in 1997.
actually i was telling people on this forum that they should be selling back in july 2003 and reinvesting in NZ which was well before steve first book came out in August 2003. Those who did have made a great profit.
Today, for those…[Read more]

Hi Mig

i’m amazed how many people on this forum are christians.

i’m another one. A lot of the christians on the forum who i’ve met are really interested in wealth creation so they can get time back in their lives to do the important things in life -like time with family and making the world a better place.

regards westan

I live in New Zealand…[Read more]

hi landt

some ideas off the top of my head

borrow money from you parents and offer them a percent of the profit ?

ask the seller if they will keep 20% of the price in the deal , so that you only need to borrow 80% from the bank and have a 1 year loan with them for 20%.

regards westan

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

Hi Nehal

i’m a little bit with SIS on this one, use these years for learning not just school stuff but about investing. If investing is your passion find people who are successful and learn as much as you can from them.

spend some time to learn about the different ways to make money, business’, shares and property.

all the best
westan

I live…[Read more]

Hi guys

i’m with Simon on this one. In NZ we have bought over 100 homes for myself and clients, sadly some homes look great from the ground but an inspection by a builder has occasionally shown up faults and sometimes costly ones like roofs.

these report you get give you some options
1. walk from the deal
2. proceed with the deal
3. renegotiate…[Read more]

Hi Matt

with the buy renovate strategy, you need to be aware that stamp duty will eat into a huge percent of your profits and then you have the selling agents fees on top of that. I’m not discouraging you but these are a fact worth keeping in mind.
As far as find you feet locally- i understand your thinking but if you want to make a profit you…[Read more]