Hi eezy

sorry some thing that you may not have factored in.
stamp duty in NSW when you buy and when you sell, and Capital gains tax will be paid on the full amount if you own the property for less than 12 months (you may get away if its your own home). So a huge percent of your profits will be taken by the Govt. Then you have the agents selling…[Read more]

hi eezy

i think you plans look good.

i’m with you the family thing shouldn’t be seen as a negative.

with the second plan , if you can make 20k profit i’d say put it back into your property investing. Shares are at record highs, super you can’t touch till your Old, and managed funds, well if you want shares do it yourself.

all the best
regards…[Read more]

Hi Jamie

i’m more interested in the future stuff, rather than the data which is past stuff.

I like to buy in areas where new industries are starting things that will create a demand for homes and hopefully lift the price and rentals.

to find this info you need to talk to people (often locals) read newspapers and speak with economic development…[Read more]

Hi MLV

i’ve bought about 6 homes unseen (1 in oz and 5 in NZ). the important thing is to get a rental assessment from an independant property manager, they will tell you lots about the home that the selling agent wont, also you must get a builder to check out the property. It always better toview the property but sometimes its not possible. One…[Read more]

Hi Crazy

i wrote a post the other day a warning about some people who are working NZ at the moment (do a search). I live in NZ and it worries me that people are “bird dogging” a market they know nothing about. I was talking to an agent yesterday and he told me he saw yet another australian hoping to buy properties on behalf of “their” clients.…[Read more]

Hi Matt

well done on the book, the problem with 1-150 is it was out of date when it was printed, by august 2003 it was already too late to buy real cash positive properties in most of Australia’s main regional centers. I haven’t bought something in OZ since july 2003 and that was in a town that was town smaller than my usual criteria. The funny…[Read more]

Sorry Del beat me to the reply

i was going to say i spoke to del last week and her contact appears very good. worth a call i would say.

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 Guys

yes i’ve used walker macgeorge before also and been very happy with Doreen, but i haven’t spoken to them regarding advice on structures, only for transfering property. Now days i use the Home Transfer Centre 03 477 6157 in Dunedin and they seem good and only charge $564.

As far as structure’s i’ve found my accountant good at Shand…[Read more]

Hi sony Jim

just out of interest why would you want to build in west tasmania, you would never get your money back, can’t you pick up existing building cheaper than building ?

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 FireCaesar

i’m with the other guys on this one sounds great in theory but actually finding people that want to do it is not easy. In a market where there are more buyers than sellers its easy to wait for a buyer to come along who will hand over the money.

But don’t let us put you off give it a go i’d love to hear that it works for…[Read more]

Hi Mini

Kiwibank are actually doing some 100% loans for owner occupiers, that is if you can wait that long for them to process the paperwork. A friend of mine was trying to get into his forst home and applied with them, that took that long he appraoched ANZ got a loan and had moved in by the time kiwibank rang him back with there approval. I…[Read more]

Softone where do you want to buy ?

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 Acey

i don’t think the information you have provided is correct, i suggest demps checks his own State laws as not all states are the same.

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 Milt

welcome to the forum, as far as any advice goes, i’d say learn how to use the search button as may topics get covered time and time again.

Most people here are fantastic, so enjoy your education

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 Simon

A good point.

i agree i some markets the best thing is just get a hold of some property, But i don’t think that is the case right now.

who knows I may be wrong, but the market may be even more atrtractive in 12 months time ???

regards westan

I live in New Zealand and for a fee find cash positive deals there, email me at…[Read more]

Hi Mischeif

don’t assume the rents will be increasing this home is a long way off breaking even, i’ll show you why

Rental 150 x 50 week = 7500

cost mortage @ 7% = 5,950
rates 1,300
insurance 400
property management 600
repair and maintenance 1,000
Total cost 9,250
LOSS Per Year $1,750,
Rents will…[Read more]

Hi Mischeif

i agree with the other guys

but want to add get an “independant” rental assessment on the property to confirm your figures, be aware you are not buying a cash positive home and will need the property to appreciate for you to make some money.

regards westan

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

Hi Guys

some interesting questions, this is the way i see it,
Auckland has been overpriced (expensive) for a while and set for some slowdown or drop in price. As Melbourne and Sydney have also.

Regarding the regional areas that i keep a close eye on, the market has definately slowed down, the buying frenzie of the past 12 months has weakened.…[Read more]

Hi Guys

my hotmail is 2000mb (or 2 GB), i know i paid a little more a while ago but its been that size for months.

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 If your buying something showing the 11 sec rule (10.4%) the other things you need to check are

1. just because it shows a 10.4% retrun doesn’t mean it is cash positive, check all other costs eg rates , body corp etc. Sometimes 10.4% means cash Neutral.

2. check that the area has the chance of going up in value , don’t buy areas that are…[Read more]