Forum Replies Created
Hi guys
kiwifella , how come i’m back on track, i haven’t changed what i’ve been saying for the past 8 month (have i ?)
Regarding the prices drop, down forget that prices have risen in country town largely to investor sentiment, supply and demand. What happens to the price when the investor pull their heads in ? Which will happen (is happening).
Thats one of the reasons i’ve sold all but one of my 20 odd NZ properties. Right now Country towns in Victoria are dead as far as sales go . There are no investors buying compared to years ago. My concern is the same could happen in NZ. When i started buying in NZ in 2003, in the areas i was buying, there were homes on the market in areas for 2 years +. So, like i keep saying, if you don’t want to be a long term buy and hold investor be prepared for a rocky time ahead. Its already been a rocky time with the NZ dollar crashing. This will hurt investor bringing cash out of NZ.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi Kiwifella
it appears the point your missing in this report and the effect if it comes true is that the market will drop; Now is not the time to be buying !
As i’ve been saying for months why buy at the top of the cycle when you can come back in a year or two (or more) and buy the same house for cheaper. Personally i think the investor who buys at the bottom of the cycle is smart, rather than a sheep.
The right time to buy is after prices have dropped !!
wouldn’t you agree ?
Just for interest the reserve bank governor has reopeated his warnings about the NZ market
Price of houses will drop, says Reserve Bank headTuesday June 27, 2006
By Matthew BrockettReserve Bank Governor Alan Bollard expects house prices to start falling by the end of the year as higher interest rates begin to bite.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHey Luke
that guys got a great website. I’ll spend some time looking over the next few days.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi all
good to see price rises in Sothland.
Regarding the first stories posted by Don
Lets read what they are really saying, I didn’t see to much to get excited about in those stories, It looks like NZ will still under perform the rest of the world.
0zi maybe you should read those stories again, when you make comments like
Sounds like some good times ahead in NZ for the coming years.. The article said
BERL says economic growth will be subdued at 1.9 per cent in the year to March 2007, compared with average world growth of close to 5 per cent.To compare the NZ economy with a football team, Its like saying “We are getting better instead of getting beaten by 10 goals every match, things are improving and we will only loose by 5 goals”.
Don
Nice for people who brought residential property in NZ in the last 12 months, but it depends where they bought
Prices rose in five of the REINZ’s 12 regions, fell in six and were unchanged in one., according to the report half the regions lost value. Also given the huge drop in the Kiwi dollar over the past 12 months many would have lost money.
The GDP figure is out tomorrow that will be interesting. Current account out today $14 Billion Plus, the worst in NZ history.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi guys
i spoke with Ben today, we are going to have a follow up meeting (phone) on Friday morning, i’ll give you all an update then
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi T
i suggest you read as much about investing as possible. Work out what strategy you feel is something that will work for you. For instance some people love creating wealth by renovating properties, others don’t.
Remember with the FHOG you need to live in the home.
what your asking is not possible to be answered in a forum, surround yourself with people who have actually made money from investing. You will learn so much from these people.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auhave a great time
July in San Antonio, its going to be HOT !
Thomas i’ve just updated my Report on San Antonio, if you’d like to see why we are active there email me at [email protected] and i’ll forwrad ot to you
(anyone else is also welcome to it)regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi Thomas
sorry if i came across critical, i’m not intending to be. I was just giving you some info in case you didn’t know that. As far as being critical quite the contrary I’m in fact a real fan of San Antonio, and i believe you will do well by investing there.
Like your self i also own in San Antonio, my private clients know we have been active there since Nov 2004.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHey thomas
just be aware of one potential hick up with your startegy . When you go to do a “cash out” refinance the best you will get is 60 or 65% of the appraised value (can’t remember of the top of my head which it is, its midnight).
so a 85K valuation ot 65% cash out means a loan of 55,000 so you will still have 15 k in the deal. (on the 70k you put in)
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi justallen
when i moved to NZ in late 2003 i took my 2001 falcon there as Australian imported cars are a lot more expensive in NZ than here in Oz. At that time my car was worth about $16000 in Oz yet worth $26,000 in NZ. You might be better taking your car there and selling it !
If you decide to take a car to NZ let me know and i’ll pass on alll the info you need to know.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi Andrew
Your will need to get Kelly details through me. Kelly works exclusively for us, and i’m very protective of her time. If you want to invest in Texas i suggest you contact me and i’ll expliain everything you need to know about investing in the USA. If you then decide investing in the US is something you want to pursue, i’m more than happy to pass on Kelly details.
Please contact me at [email protected]
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi Luke
yes i caught up with Lisa and was impressed with Nashville. Lisa has some good opportunities in front of her , i am doing a deal with her now (my own deal), will let you know how it goes. At this stage i want to work Nashville as a flip, But i think things work equally well as a buy and hold.
Have you meet Lisa ?
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi Guys
i’ve got properties and land in Texas, properties in New York state and about to get my first one in Nashville (doing aflip), Luke i’ll let you know how it goes. I arrived in Nashville in April the day a huge strom went through cousing Tornado’s (sorry thats another story) anyway i like Nashville it has tremendous opportunity (but i still don’t think it can beat Texas).
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi Don
i’m still waiting to see what i’ve said that is wrong ? either out of date or wrong ?
When you make comments like that it implies i don’t know what i’m talking about. i stand by what i’ve said. Would you like me to post what the governor of the NZ Reserved Bank says about things or perhaps what the NZ treasurer says about the state of the market and economy. Or perhaps i could quote leading economists.
But you made the comment so where am i wrong.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi Will
what your after is a “Apostille Seal” i think you can get them through the Dept of Trade & Foreign Affairs. If your in Sydney and they are only available between 9am and 1pm, i believe.
Definition – Apostille is a French word which means a certification. It is commonly used in English to refer to the legalisation of a document for international use under the terms of the 1961 Hague Convention Abolishing the Requirement for Legalisation for Foreign Public Documents. A document which has been certified with a conformant apostille is accepted for legal use in all the nations that have signed the Hague Convention. It is comparable to a notarisation in Common Law.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi Gamay
in most situations i would say you are right. Phone another real estae agent and ask them what price are homes selling for in comparision to the ratable valuation. Also find out when the valuations were done.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHI Gamay
About 9 years ago the CBA was happy to use the Council valuation. Haven’t used them for a long time so don’t know if that is the case.
Brahms councils usually have two figures Unimproved value (land value) and improved value.
As far as using this as a valuation, well usually they are below market value so it wouldn’t be in your interest to use the rates value.
The way banks often work is to have an approved valuer go out and value the property, but sometimes the manager will do a drive past, it depends on the bank and where the home is.regards Westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi Simon
I’m not saying mums who work are doing the wrong thing but i am saying if a mum wants to stay home she should be encouraged. Having a stay home wife- its amazing how they can be treated as inferior to working mums.
Simon, re the team work – this guy appears to be running the show his wishes are being met but not hers, thats what needs rectifying.
But agree the best way to change others is to start with yourself.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi Caroline
i also want to say i disagree with Simons comments, your “value” as a stay home mum can’t be understated.
Janine, my wife has been a stay home Mum and on one income we were able to successfully create financial independance. And I was working as a school chaplain on a reasonable low income (compared to what i make now from my own investments.)
You can do both – stay home mum and be an Investor
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi Caroline
i agree with Jenny
Your marriage should be a partnership, just because he makes the money doesn’t mean he has control over it. It should all be a “joint decision”. I’m sure i don’t need to tell you that, but you need to discuss it openly with him so that he can understand the importance of investing for the benifit of both of you.
We used to have a really strick budget, which was actually liberating because together we decided how to spend the money i made. And we gave ourselves “pocket money” that we could spend on whatever we liked. We knew that the families financial goals were being achieved and we could spend some money also without getting stressed that we weren’t headed in the right direction.
But you are a Team, your husband need to be aware that he isn’t playing like a team member.
Get him to read books like Rich dad Poor dad- it might educate him.
regards westanUSA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.au
