lazyboy

yes i’ve got a few down southland i don’t know which is my best the one for 23k rented at 100pw, (now thats Positive cash flow), but i like the deal in Dunedin (Mornington) $58k rent for $170pw.
lazyboy can i ask you about an area near you but i don’t want everone buying there so can i ask you off the forum ? if your happy to answer my…[Read more]

hi lazyboy

your market is hot !

i’ve been buying there and prices have risen every time i get there (every 10 weeks). where abouts are you in NZ. i’m moving to Balclutha (brrr i feel cold just thinking about it) on Dec 31st.
regards westan

hi nailwog

you are right cash flow is king. in response to how do you grow?
you must buy cash positive properties. If you buy neg. geared you will get stuck on the serviceability of the loans and max out and not qualify for future loans and therefore growth. But if you buy cash positive ie ones that pay for themselves plus put say $2000 a year…[Read more]

hi all

sorry to do this but i disagree with most of the comments, LOC’s are a con, hugely profitable to the bank and the benifits are over estimated. as Namasté discovered there are better options.
Discount loans can be sourced much more cheaply, with lower interest rates (-1%), no application fees, no account fees, no valuation fees, no redraw…[Read more]

hi all

hey Bill i think you are getting me (westan) and Mini Mogul confused [?], i haven’t contributed to this thread yet. i can understand the confusion we do look very similiar.[]

by the way, what a top post by Mini i agree with what was said (but she/he said it not me).[]

Given that most people move within 5 yrs it has to challenge the whole…[Read more]

hi nooneoo

you must do them before the auction, once you buy at auction there is no “out” clause, (ie cooling off period or conditions such as subject to building report). this is where auctions can get expensive if you pay for a reports but don’t buy. where as with a purchase you can sign subject to … then if the report is negative negotiate a…[Read more]

hi all

disagree Bill

ricky
reward yourself with a nice home later on.[]

regards westan

bill

are you happy to cover all loses as well?

fatboy i’d be off to the “land of the long white cloud” while there are still opportunities there. i wouldn’t touch Oz, although interest hasn’t wained in my part of the world (Vic Country) i think prices are still rising, they are certainly selling fast.
westan

hi still at school

i don’t see many more rate rises, while inflation is low they can’t lift rates.

regards westan

hi fullout and melbear

i was thinking about signing “and or nominee”, but the problem would be the purchaser would know what price you paid for the property. so effectively all you would be is a buyers agent. there would be no Capital gains but there would be income tax.
regards westan

thanks ian, peter, muppet and mini

looks like i have a few more books to get a hold of. great contribution from you all.

regards westan

fullout

if you don’t want to manage it yourself why don’t you give BJ Bennett a go, and don’t forget to have landlord insurance.

regards westan

hi forextrader

well done to the poms, they were too good for us.[]
Johny proved to be the difference as we expected.

westan

hi all

1) What was the prime motivating event in your life that created a focus on the need to invest?the desire to make money to survive while i chose to work in low paid jobs (such as youth work and school chaplaincy).
2) What have you in fact done about it since then, and rate your achievment.
i started investing in shares and did well…[Read more]

hi melbear

since you went and exposed yourself to us all [], i suppose in response to your question so should i [].
first of all sorry to those who have heard it before please move to a new post.
i started buying in 1996 (when my net worth was just 25K) and bought 10 cash positive properties in the one year in adelaide(4), morwell(2)(vic),…[Read more]

ok

purchase price
50k deposit paid 10k loan 40k

interest on loan $2700 roughly at 6.75%
water and rates $800
insurance and L/L in $350
agents fees and 600pa
repairs 400pa
total $4850
rental at 48weeks $4800
loss of $50
i’d want 130pw at 50k
regards westan

hey fudge 111 who is your tip for woodem spoon?
mine is the bulldogs
westan

fullout

is this the same property manager you have talked about in the past in the Latrobe Valley?

westan

hi all
mcollins its not your house is it?[]

seriously, what do people think of Broken Hill these days. i know 6 years ago i didn’t buy there even though you could buy for 25k because the town was declining and had a few vacant houses. have things changed?
by the way this property would not be cash positive even with a 20% deposit.
bye westan

my tip is a bit of an outsider, not many would agree with me but this will be the year of the TIGER. Richmond has recruited well and a season without injuries will put them back high up the ladder. with the competitions best big man in Brad Ottens and best forward in Richardon being aided by the ball getters like Johnson and co, Richmond will be…[Read more]