Hi WD

i found Robert Kiyosakis books excellent “Rich Dad Poor Dad” is a great starter. He will change the way you think about money, investing etc. I believe i wouldn’t be where i am today financially, if i hadn’t read RDPD. I bought 10 homes in 1997, it was a few years later when i read Rich dad that i was able to move to the next level.…[Read more]

Hi Jenny

just make sure which ever bank you are using that you set up yourself for internet banking. That way you can transfer money from your accounnt to others in the US. While you are there get the banks swift code so you can easily transfer money from Australia to the USA (to your account).

Oh, one other thing with banks- make sure you…[Read more]

Hi mint man

re the loans- yes they must be based in the country where the property is held, the Aust banks know nothing about US law, us property so for them to hold title is just too big a hastle for them.

Interest rates vary a little form bank to bank and area to area in Texas allow about 6.7%

you can get this on a low doc loan with 30% down…[Read more]

Hi guys

Re property managers- i used Ken Klose R/E for 4 of my properties in Elizabeth. I don’t usually like to critize people so let me say i now use LJ Hooker and am very happy i made the change.

Prices have dropped in Elizabeth recently so there maybe some good buys, If you are prepared to have a few bumps along the way. Elizabeth isn’t…[Read more]

Hi mintman

i think it esential.

you will need to make payments into an account (rental income) and from time to time write out checks (not everyone takes credit cards).

why would you not want too ?
it easy to do (but may take a bit of time)
regards westan

We find deals in the USA with growth potential, with equity and showing at least 14%…[Read more]

Hi Don

I suppose one of the big difference i have to others is that i now live off my investments dollars so its important to get as high return on each dollar as possible. If i can sell an assett thats not going to appreciate anymore thats showing a 10 Net return and put the money into an assett thats likely to rise and will show a net return…[Read more]

Oh another comment,

Years ago the Govt was going in and refurbing the whole area, North Elizabeth is an example, its called the rosewood estate (i think, i haven’t been there for ages). The govt spent a huge amount street scaping the neighbourhood and doing up homes. I’d imagine if this was still happening then areas boardering on to these…[Read more]

Hi Guys

this is exactly why i was telling people over the past 4 months to get as much money out of NZ as possible, either sell or finance out, don’t hold properties in NZ without a mortgage. If the Kiwi drops significantly then those who own a lot of Kiwi $ will loose. I’ve got most on my money in the US now so strenghtening of the US dollar…[Read more]

Hi Shaun

i own one (semi) in Elizabeth have done for 8 years. At one stage i owned 4 (semi’s), which i purchased in 1997 of about 21-25K, so i got them at a bargain price. Two of these were in Scott St Smithfield plains.

My thought are these areas are a bit rough, you must have landlord insurance, i was often claiming on it and ended well…[Read more]

Hi Guys

i read the book 18 months ago and throught the books a joke, and sadly so is Olly.

those who took the opposite view to Olly 18 months ago and bought property are sitting on some very nice capital growth, thanks olly you might have scared a few into sellling.[biggrin]

regards westan

Over 100 deals done in the USA in 2005
Buy in the USA…[Read more]

Hi Tiger

i differ from dazzling and DDLP

i suggest you do keep abreast of the macro picture, its important to know where the economy if heading and what interest rates are likely to do, all of these factor will effect the performance of your investment.

I also differ as i believe you should read as much as possible from authors who are…[Read more]

Hi highflyer

i can’t see the angle on this deal

its price is 1.2 Million
and there are 6 units if sold individually would sell of 200- 250K

After stamp duty to buy, agents fees to sell , holding costs of owning this investment i don’t see where your profit is ?

Unless you get the deal for 800K, then i’d consider it ???

Am i missing…[Read more]

Hi Tiger

well done to bounce back after your initial set back in investing.

My advise is to look beyond the normal parameters of investing. You could look at O/S. I invested in Oz up until 2003 when i discovered NZ so i invested there, Now I’m investing in the USA. Its a big step for many but rewarding for those who who do it well.

Sorry it…[Read more]

Hi M_K

i’m not suprised you are finding it near impossible to get cashflow with 100% down.

What Nigel says is true you will have to look off shore. But 100% down will be hard offshore. In NZ you will need at least 10% but usually 20% and in the USA you will need to put in 20%.

I doubt you will even find anything in NZ thats cashflow if you…[Read more]

Hi bobbackoz

those returns look excellent for Australia. Do you know if you get title to the land for that sort of price i would imagine not ??

It looks too good, i just wonder if there is some catch to it ?

let us know how you progress. If all looks good those returns are a winner.

regards westan

Over 100 deals done in the USA in 2005
Buy…[Read more]

Hi Tony

The past 12 months have been interesting for us as we have had times we felt like pulling out of NY State completely as different issues have arisen, have worked our way through them i feel more confident about Buffalo that i did 6 months ago.

i purchase my first property in Buffalo in Jan 05. So far i’ve been very happy with it (bardon…[Read more]

Hi loulou2

why don’t you present the deal to a buyers agent and see if they will take the property (for a fee) they already have clients wanting attractive deals.

You could try Australian House Hunters http://www.househunters.com.au/

also be careful if you go it alone in some states what you do may be illegal unless you are licensed.

regards…[Read more]

Oh Kingdavid

i should also suggest to you that if you want to buy a property in Invercargill then you much speak to Don (see his email above). I have no doubt that he is the leading buyers agent for Invercargill and your deals with him will be very professional. He knows the market better than any one else offering a similiar service and will…[Read more]

Hi Don

offering 100% finance to first home buyers ! NZ housing will be getting themselves ofside with the Reserve bank who is doing everthing he can to kill the property market.

I would expect that prices will rise foir the lower end of the market, what your take ?

Are you still seeing plenty of buyer interest in Invercargilll ?

Thanks for…[Read more]

Hi Osty

if after rental info try http://www.dbh.govt.nz/housing/tenancy/

or better still contact local property managers and ask whats renting well and what isn’t. They will be a great resource for you.

also look at http://www.propertytalk.co.nz its a great site for those investing in NZ

regards westan

Over 100 deals done in the USA in 2005
Buy in…[Read more]