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westan
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@westan
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August 2, 2005 - 2:18 am
Hi cymberlineshakespeare
i like greymouth, for the following reasons
largest center on the South Islands West Coast, it will always be a major town for that reason,
It could have some upside with the Coal deposits in the area.
Nice little city.
i don’t like greymouth for these reason
the price has already risen heaps and will struggle to have much more upside in the near future.
Yeilds therefore aren’t that attractive anymore.
thinks to watch out for
all the highest returning properties are leasehold (something to be aware of)
I wished i bought there back in 2003 when i was considering it [].
regards westan
http://www.nzpropertytogo.com
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westan
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August 2, 2005 - 2:10 am
Hi Willi
remember sometimes agents can get you a better price than if you sold it yourself !
regards westan
http://www.nzpropertytogo.com
check it out !
westan
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August 2, 2005 - 2:07 am
Hi Del
do you feel that the incredibly strong population growth that Harvey Bay has experienced over recent history will continue ?
regards westan
http://www.nzpropertytogo.com
check it out !
westan
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August 2, 2005 - 2:00 am
Hi twin peaks
i use Ron to sell my Dunedin homes he is from LJ Hookers in Dunedin (unlike a-workaholic i’m not related to my recommendation[biggrin]).
Ron is a straight shooter, knows the market and works for the seller.
As far as 4.5% goes thats the standard fee, you maybe able negotiate it down to 4%
regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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July 5, 2005 - 6:43 am
Hi Hugo and G7
i agree with G7 that its not the time to buy in the LaTrobe Valley.
Was it ever ?
G7 Asks, well it was before prices doubled. I bought in 1997 but sold 2003 , very happy to be out and couldn’t see buying there again unless something dramatic happened , like prices halve or rents double, both would be even nicer.
regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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July 4, 2005 - 11:41 pm
Hi all
i agree with Don.
yes the Kiwi Dollar is taking a HIT of the past month. Great for people wanting to invest in NZ. Not good for those wanting to take the money home[bawl].
I agree with you there is a real chance that interest rates will lower which will be great for all investors. It was NZ very high interest rates that turned some cash positive deals in neautral returns. These should become positive again if the interest arte reduction is decent.
regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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July 4, 2005 - 8:27 am
Hi Guys
Xenia
How are you doing the rehabbing?
I have a team that i’m working with in Texas that i’ve already done a deal with. I created this team last Nov when i went there an so far things are going well. They have all the expertise, local knowledge, skills to rehab, the exit strategy.
Are you planning on living there (in the USA) or are you controlling it from NZ?
Hmmm i was planning to go live there for 3 months but i can’t talk the family into going, I even took them to the place we could live Luxury appartments with 2 pools, mini cinema etc and even that didn’t work. We have had the last 18 months in NZ so its time to come home to Oz and get some stability into the kids lives (They have loved NZ). So i’ll control it all from back here.
Nobleone-
Code:
When you say that you are “selling out of NZ” do you mean you are selling ALL your NZ IP’s?
Yes i’m nearly selling everything.
The reason I ask is simply because if you bought in 2003 then you should be getting good cash flow returns from your NZ rents. Way more than 10% gross I should imagine.
Yes, you are right a lot of what in bought in NZ is showing a 20% return on what i paid for them. But they have doubled in price and only showing a 10% return. I’m confident that i can reinvest the money and do better than 10%, actually more like 20-40% return on this money. 20% on my buy and hold and 40% on the Flips (over 12 months).
Regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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July 4, 2005 - 8:15 am
Hi Simon
I’m not an accountant, so check what i’m saying.
The USA, NZ Aust the UK and a few other countries have double tax agreements so you will not pay double tax.
However things can change depending what entity you buy the asset in. For instance if you buy in the USA using a C-Corp you will not get the full benifits of the double tax agreement.
So its not completely straight forward and best to be aware if you use different structures of ownership some different rules may apply.
Regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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July 2, 2005 - 4:42 am
Hi Geoff
thanks for the footy scores [bawl] [cry]
well there’s always next year [] , as a Tigers supporter i’ve been saying that for a while.
Oh i see its only your prediction !!! Wow you had me upset, i’ll just wipe down my tears off the desk. I forget we are 2 hour ahead its 4.30 here in NZ. So Go Tigers
Anyway back to investing, although i miss a good footy chat !!!
being on the other side of the planet would make this type of strategy difficult and complicated to implement, manage and achieve ultimate goals.
Exactly, i’ve been working on it for 8 months, i went to Texas in Nov last year and started to build a team, we had lots of the peices but not all. Some people have gone and others have been added. But i’m confident now i have it worked out. My plan is to just rotate the money over and over, its a cashflow strategy, i expect that we can do 3-4 deals a year with the same money.
The difficulty is you have to do one deal from beginning to end then you know if its going to work. I have trusted people and not got “burnt” which to be realistic is a possibility when you are at a distance.
I now have a team on the ground that can do whats needed.
regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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July 1, 2005 - 8:59 pm
Hi Guys
maybe we should list those who offer the best Land lord insurance policy. looking at the deals around there is quite a diversity.
as far as rent while unlet, my policy which i’d claimed successfully on, paid out if a tenant left when the property had a lease in place, it also covered the time till a new tenant was found, which allowed for repairs to be done. I’m talking back in 2003 so things may have changed. My policy only cost $150 per year on top of the building insurance and i was well ahead of that on what it had paid out.
regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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July 1, 2005 - 8:51 pm
hi xenia
that’s an excellent point, these types of situations can create real opportunity (for the brave), but over time they will usually be rewarded.
just as a side issue, People in Victoria will remember when Jayden Lesky disappeared from a house in Moe. When this home came up for Auction i was expecting there to be little interest because of the History of the home. Even though the house is not well positioned it sold for that i thought was above market at the time. I couldn’t understand it ???
regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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July 1, 2005 - 8:58 am
Hi all
yack you said
In my view buying in the US is too risky for me
Thats fair enough, i know you only like to buy near where you live, for me buying all over the place has shown huge rewards.
they too are in a smimilar position in the property cycle.
While there is a lot of talk about the US market being over valued the general view is that this is in relation to overpriced markets in California, parts of Florida and New York City. Large parts of the usa are very cheap and shown little growth over the past few years. I think the US market is behind us in the Cycle.
The returns may be good in some areas but they come at a price – risk.
No debate there is always risk, but for me buying in Melbourne or Sydney in this market is more risky.
If returns were that good then why dont more people in the US invest in property rather than shares and their 401k.
Well they are , investors from California are very active in the areas i’m buying. its a funny comment i got those comments when i was buying properties for $25,000 in Elizabeth, South Australia, when i bought homes in Morwell for $28,000, when i bought in hamilton for $36,000 and when i bought in New Zealand in 2003 (now i’m selling at double the price). Its all documented on this forum in 2003 i was telling everyone about the NZ possibilities (this is well before i started sourcing deals.)
My uncle in law – who lives in Canada has always said to me NOW is the time to be selling not buying.
He may well be right, i remember you telling me he is an experienced investor. If i owned property in Califoria i’d be selling also.
Anyway – good luck with your spotting business. Hopefully your investors will not regret their investments over time.
Thanks, i hope so to. Its an unknown i don’t know the future. Just because a lot of our clients have made heaps from NZ doesn’t mean its all going to happen in the USA, we just have to way up look at the deals and make our own minds up.
regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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July 1, 2005 - 8:41 am
Ok Simon
let assume its rented for 52 weeks of the year (i’m being generous).
Income $255 per week equals $13,260 per year
Now expenses if you borrowed 95% of the $145,000 That would be a loan of
$137,750 at 6.75% equals $9,300 per year
Then we have
insurance of say 300 per year
Rates 1,910 per year
Management @ 10% 1,326 per year
repairs and maintenance 500 per year
Total Costs $4,036
Costs plus interest on loan $13,336
So you are right your at break even, if you had weeks vacant you are down $255 per week. So with a home like this you need capital appreciation to make money, no growth, no Money.
Any rise in interest rates will hurt the bottom line as any increase in rent will help.
If you have a principal and interest loan you will need to pay this, however you will also get some tax benifits depending on the homes age etc.
regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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July 1, 2005 - 8:18 am
Hi all
Luke
Are the people sourcing the deals professional licenced real estate agents?
Some of them are. People like Australian House Hunters (formally Hunter House Hunters) are licensed Agents and they have insurance.
Other such as myself (Property Investing New Zealand) and the people at “New Zealand Bird Dogs” aren’t but we are experienced investors.
If you are making the comment from a view that they should be, then i disagree I think being an investor is a more important point.
regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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July 1, 2005 - 8:07 am
Hi simon
do you want some help ? tell me your purchase price, weekly rent and rates on the home and well see how it looks.
regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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July 1, 2005 - 8:02 am
Hi Simon
you are right a proper “landlord” Insurance policy like yours is a neccessity. The cost is very small when you consider the benifits, not to mention the peace of mind. I had Landlord insurance on all my Aussie properties. On one occasion i had a tenant in a property in Tas, who damaged the heater and the insurance paid for a $2,500 heater and repaint and repairs inside the home another $4,000. I had the home on the market, after the repair work i sold it for $10,000 more than it was first listed at.
I wanted that tenant to live in all my homes ![biggrin]
One issue was that took every bit of damage as a seperate incident so i paid about $700 excess, (it had $100 excess on each claim) they said there were 7 sererate incidents. I didn’t complain i was miles ahead.
regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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June 28, 2005 - 7:21 am
Hi Peter
this is the way i see it
with a P&I loan at the end of the 10 years you will end up with a smaller loan, and own more of the home than if you had an Int. only loan. This is obvious because over 10 years you would have been paying part of the principal each month.
Which is best ?
it comes down to what are you planning to do with that small amount of money you have left over each month (as an Int only you will pay less each month). If you end up spending it each week on your lifestyle then thats not good financial management but if you use that money to invest then thats good management. if you think that you can invest that money in stocks etc and make a better return than the interest rates you are paying on the loan then good, or if you use this money to pay off any non deductable debt (ie family home or credit cards) then good also.
sorry its a bit confusing , hope you follow me. At the end of the day, i’d always choise interest only as i believe i can invest the money at a higher return than the interest rates on the loan.
regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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June 27, 2005 - 4:01 am
Hi Yack
i agree with you ! but there are always the exception deal.
as far as the comments don’t buy now. I’ve been saying that for the past 2 years. But 2 years ago on this forum i was telling people to buying NZ. Now i’m saying be careful what you buy in NZ but buy in The USA.
As a gereral comment about the OZ market i agree, but for those willing to adventure a bit outside the Box then the world has some fantastic opportunities.
regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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June 27, 2005 - 3:47 am
hi geoff
yes they are, i’d ask your managers to check if they are installed.
regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
westan
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June 27, 2005 - 12:55 am
Hi Cama
you can still find deals in NZ that are showing a 10% return, but even here (i’m currently living in NZ) the market has moved up strongly over the past 2 years and i wouldn’t want you to expect any move capital gains in the near future.
regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database