Forum Replies Created
Hey Nobleone
i was talking from someone in Hawera who had issues with this sort of stuff, they actually got some guys from the Mungrel Mob to sort it out. apparently the police knew and they said as long as there’s no bruises they were happy to look the other way.
A different approach !
The owner got vacant possession very quickly.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi Nobleone
Let me guess the first property manager’s initials are JJ.?
Lucky for you Hawera’s prices continue to rise. Its times like these you need to take a long term view of investing.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Isn’t it interesting how things change, back in the late 1990’s we were saying Melbourne was not the place to be as everyone was moving interstate. i remember the jokes about the number place “Victoia on the Move”, and people would say yer to Queensland.
Melbourne’s a great city obviously others agree.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi foundation
interesating story those and ones i hadn’t seen, i haven’t had the luxury of time to read the paper recently. From my understanding of the first story it applies to foreign companies that move off shore
(that is, move their incorporation and head office offshore) would be treated as if they had been liquidated.. i don’t think that will alter the situation for investor in real estate (maybe have a word to your contact at the tax office).
In regards to the second story the Greens party are not a big player in the NZ political scene, but they aren’t the only ones saying similiar things.regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi razza
i can’t send attachments to you through the email on the forum, so can you email me and i’ll get your email address from that.
in regards to mini try sending her a PM, look up members on the left hand links, she is on the first page as she is a great contibutor to this forum.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi Tina
thats a tough challenge ahead for you. Without knowing your full story and on the small amount of info we are told this is what i’d do. (i should mention that my approach to investing is only buy cheaper homes that have cash flow for example i’m buying properties showing a yeild of over 20% at the moment).
So i’d be inclined to reduce your exposure to the real estate market, it sound like you are very close to the edge, if something unseen happens it appears like you don’t have the cash reserves to see you through. I don’t mind being very heavily geared in property but it has to be at the right time in a market (ie when its rising). So 4 years ago in Oz i was maxed out with properties and then in 2003 in NZ i was again. I did this because the markets were either about to go up or already rising.
This is 2005 and i can’t see us returning to 10-20% rise rises in the near future so you will not be making money for a long time.
I’d be inclined to sell poor preforming properties and reduce debt (interest rates might rise- or lock in fixed rates). If you want to buy property then I’d also look at markets were you are really getting strong cash flow- this is not Australia at the moment.hope i’ve said something that can help, what do others think ?
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi foundation,
as far as
NZ have already started to clamp down on foreigners withdrawing CG profits from the country without being taxedi’m not sure what you mean ? Australia has a tax treaty with NZ. If an aussie makes a capital gain in NZ then they are required to declare it on their Australian Tax return. There has been no change to that rule (as far as i’m aware).
rumour has it that further tightening (including investment property CGT) will shortly be announcedyou are right this idea gets thrown around from time to time but i’d be suprised if there was any change, NZ at the moment welcomes investment dollars and any change will have a negative impact on the economy; an economy that will start to see the effect of a very high currency.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi Superman
i’ve been over the States a few times recently and i’d heard how big LA was but it shocked me by the size. I drove from the airport towards Las Vegas at 100km an hour on the freeway and it was well over an hour before i got to the edge of the city. If i drove south it would have taken even longer to get out of the city.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi Terry
well done on 3000 helpful and insightful posts (not many were down here in Forum frolic unlike some hey PG and Chan [biggrin]).
Terry you’ve been a great contibutor over many years, thanks for all your input, you’ve helped make this the best property forum in Australia, maybe the world.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi razza
all the best with your NZ trip. i’m not active spotting in NZ but i’m happy to send you written info on investing in NZ.
for spotters who know NZ try Minimogul. Its important to deal with someone who knows the local market she has people who live in NZ sourcing the deals.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi Guys
thanks Greg for your support.
Nat –
you don’t know how to get a loan in the US or even what the prevailing interest rates are???why do you say this when in my posts i’ve clearly stated that i’ve got finance? Do me the courtesy and Please read what i’ve written before you have a go at me! In my posts i said a number of time that i do have finance available. Its just that i’d love to get a better deal. So far i’m yet to speak to anyone in Australia who has got finance arranged and closed on it, so give me some credit for at least getting that sorted out. The States is very complicated with Finance and there are many source of it there. Nats its just the way i am always looking for a better deal. Finally Nats i don’t know everything about the US market but i certainly know more than i did 12 months ago.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi banjo
i’ve not used them but a number of our clients have, and i’ve only heard good reports about them.
I’ve never meet Mick (from Hunter house hunters)but i have spoken to him on the phone and i know giving good service and going the right thing by the buyer is of paramount importance to him.I believe Mick has an excellent knowledge of the areas he is buying in.
I know there are clients of his who use this forum hopefully they will see this post and give some comments.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi loungeact
will they double in 7 years ??? i’ve got no idea to be honest, anyone who says different is only Guessing. When we look at the past in Victoria prices have doubled in recent years but after very long periods of no or little growth. Melbourne as out performed most of Victoria over the long period (say 20 years), but over the past 3 years country Victoria has outperformed Melbourne. The reasons are, one Country areas have been playing catch up, two renewed emphesis on investing in R/E over the past 5 years. 3 Under the previous Government country areas did poorly and suffered financially (job losses etc) they have now rebounded.
OK moving forward, all of those cities are good areas
Hamilton, Mineral Sands Project, rich farming areas, New Pulp Mill near Portland (maybe 7 years away) will have benifits for Hamilton. Great little city with very good educational facilities, Uni campus’s in town- nurse training.
Ballarat- 3rd biggest city in Vic, close enough for people to commute to melbourne and attractive as a lifestyle option. the fast train will bring it closer (slightly). More people are choising to live in Ballarat because it is cheaper than Melbourne.
Castlemaine- a bit expensive but very tendy with new agers etc. Only 100km from the city.
Horsham- will benifit from the Mineral Sands project south at Douglas (this is a Billion dollar project by Illuka Reasources).
It seems like the heat has well and truely come out of the market and i was talking to John Hadley at First National in Horsham yesterday he said Investor interest had vanished, whereas they would get 10 emails a day when things were hot.
All this means be prepared to negotiate, as Robert Kiyosaki says “the profits made when you buy not when you sell”.regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi Chris
its agreat idea turning 2 bedrooms into 3 bedders, i’ve done this myself a few times on properties always adding much more value to the home than it cost. It is, as others have said, an easy process and depending how cheap your labourers charge it could be done for around $1500. I don’t think you need a permitt for this type of work but best to check.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
sorry i should elaborate. Those who know the Victorian market will be aware that the Latrobe Valley was very cheap (before 1999), Thanks to Steve heaps of investors from his seminars flooded the area (they weren’t the only ones) and pushed prices sky high (some people were fortunate to sell with this buying interest [biggrin]) today the investors have moved on and the prices are starting to fall. I can see Tok following the same process. Those who have been to Tok and the Latrobe Valley in Vic (Morwell and Moe) will see there are many similarities between these two places.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi Guys
with that sort of interest in Tok, i think its time to take your money and run (sorry Muppet and Mini).
there are better places to invest in NZ than Tok.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi bomandlouisa
as far as areas to look
for capital growth (remember everywheres already gone up heaps) Hamilton, Gisborne, Chrstchurch Dunedin and Invercargill.For 10% returns look at Tokoroa, Invercargill, smaller places of about 5000 people.
Also consider a property finder such as Minimogul she has some great deals but there are difficult to get (as they are in huge demand). Avoid people who don’t really know NZ, there are now a few people finding properties in NZ, check that they know the market as i here some of them roll up to agents and say i’ll buy all the 10% returning homes you have, and they don’t even inspect them ???
Personally i’m not doing much sourcing in NZ anymore as i’m busy with the USA market. (in fact i’m selling some of my properties not because i’ve lost confidence in NZ but i can get better return now elsewhere.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi Loungeact
trying to predict the capital gains of an area is very tricky. Better to focus on area that something is happening in that will boost the town. I haven’t lived in Victoria for 12 months so i’ve lost track a bit but for example Portland has huge potential with the new timber/pulp mill planned , this is a billion dollar development. Other areas like Hamilton with its mineral sand project and Mildura for the same reason plus the tourism and retirement market could be good options. Over the past 18 months I’ve sold all of my Victorian properties (except 3) so that shows you where i think the markets going- nowhere. Sure if your in for the long haul you should do ok. The Victoria Valuer General brings out a book on Victorian property prices it might be of interest to you.
What area were you looking at maybe i can help with some comments, i owned in Latrobe Valley, shepparton, and over the west like Stawell, horsham, ararat, hamilton etc.regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi all
roessler- a property should be bringing in passive income throughout the whole time you have it as an investment. If you buy well it should be putting cash in your pocket. But some times its important to cash in especially if the asset is underpreforming and you can’t fix this problem. Its also important to sell if you need to free up capital so you can invest in better performing investments. As an example i started investing in Cash positve props in 1997 by 2003 i couldn’t find deals that interested me so i looked at NZ. The deals were all over the place, so i sold about 20 of my Oz properties (which had gone up in value but not the rents) to finance purchases in NZ. Today i’m now buying in the United States and i’ve sold about 15 of my NZ properties (which have gone up in value but not the rents) to finance to purchases. There come a time (especially after strong Capital growth) when its better to sell, pay CGT, and go for a higher return.
as far asgoing forwards or going backwards and that to continue forwards requires constant activity.well i’m not sure about that , personally i’ve had times in my investing, especially years ago when i started when it was important to sit back and just watch and see how my strategies were working. Take time to reflect on the performance.
Take your time, If your investing in Australia i hardly see any need to be rushing out and buying properties.regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi all
paul- thanks for that , yes i knew that it hard to get finance with an LLC, my broker can’t lend to them. However there are ways around this issue.
Tiger- “if good finance is available” its interesting because when i stated investigating the states in mid 2004 i thought i’d be able to get 15 year fixed loans at 4.5%(americans can), if i wasn’t aware of this then i’d have thought 8% was OK. At the end of the day i suppose 8% interest isn’t too bad when the deals are 20-25% as you can get in the states.
regards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
