Forum Replies Created
Hi alison
there is a huge difference in prices expected by sellers,often depends who your buying from and there motivation. The same house could be nothing or could be 30K.
One strategy to enlarge the home is to leave a void when you put the home together and build this in. what i mean is place the 2 haves of the home (if you have to split it) about 4 metres apart this could create an extra family room or bedroom etc depending on the layout of the home. Sorry its a bit tricky to explain what i mean.
What state are you in ? If victoria i’m happy to recommend the guys i worked with. (although it was 8 years ago)
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 Alison
i relocated a home about 9 years ago. WE relocated a Farm house from Donald in country Victoria 100Km to Stawell.
Back then it was hard to get finance from the banks for this type of venture. I believe westpac did it but that was about all (things might have changed). The finance people we used would only give us money for the home when we had our certificate of occupancy (completion).
The greatest cost is the relocation, for myself the home cost 3000 but moving it cost about 22K from memory including anew roof. You would be best to put a new roof on the home while your doing the relocation. That way when you have finished you will have new stumps and a new roof.
I found the electrical cost – of getting it rewired safety box etc a lot more than i was expecting. We decided to make a few structural changes , moving walls etc which also added to our cost. New kitchen, repaint , recarpet, it all added up.
At the end of the day we were ahead but not as much as my original estimates.
Better to pay a little more for a house that needs nothing rather than pay less for a home that needs a lot when you have moved it.
all the best
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.auHi Rob
do you need fiance to build on the land ?
or finance to buy and Build ?
If you have titile to the land it will be a lot easier for you to get the money to develop.
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
if you want to see everything that is listed for sale through real estate agents (remember often the best deals don’t come through agents) then look at http://www.realtor.com
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 Richard
thanks anyway.
I gather this money is for deals where people are paying full retail for properties through your business contacts and not open to people bringing deals to you ?
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 Richard
is this finance available to our investors, we have about 30 Texan properties to close in the next month/s. These properties are purchased well below appraised value, is your finance available for these properties ? Your financier will have no problem with the equity we have.
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 berryinc 25
we have a double tax treaty with the US so you will not have to pay tax twice, unless you buy it though a C corp. You might be better to set up an LLC to own the land. But every individual’s situation is different.
I’m buying land in the USA at the moment , i can share the way i’m structuring it but just because its the best thing for me doesn’t mean its best thing for you ???
This to consider
how long will you hold the land (effect Aust CGT)
Withholding land
Future activitiesit might be better if you want to phone me, email me and i’ll forward my phone number if you want a bit more of a discussion.
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
i know you have done a number of “subject to” deals, with your experience do you feel it is a good strategy ?
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.auNigel
i’m suprised you are only able to get 70% loans ? We have many banks we are dealing with who are giving us 80% loans in Texas and New York State.
Property taxes are higher than here but this is more than offset against the gross returns of 13-14%, Watch out for Insurance its also a lot higher than Australia ,
Perhaps now you can understand why i’ve sold everything in NZ to invest in Texas ! (actually i still have one NZ property its still on the market)Anyway i’ll get off the Texas topic this one is on 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 all
Nigel now you have discovered about the opportunities in Texas are you still buying in new zealand ?
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 mandy
great idea for a book, all the best with it.
Just one question is the book for the Australian market or New Zealand Market or both ?
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 Dohicky
yes the dollar’s great for people like yourself (just gotta save some of that money your making). But not so good for Kiwis visiting OZ, we had some friend from Balclutha stay with us over the weekend and while the price of the dollar didn’t stop them shopping (they know how to shop) the trip cost was a bit more than usual.
Lets hope the low dollar can help Kiwi exporters, they need 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 sharif
I used to own 2 properties in morwell. bought in 1997 for 25K sold in 2003 for about 85Kpersonally i wouldn’t buy in Morwell again.
My experience was the standard of property management was poor, quality of tenants was poor.
I don’t think you can expect much capital growth. The market has too many rental properties which will hold back the market.better to look elsewhere i think.
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 terry
oops
gee i hope you can live up to the reputation !
i suppose your subscription will increase dramatically
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 Terry
good to see i’m saying the right thing [biggrin]. Hope all is well for you , i haven’t spoken to you (on the forum) for a long time.
For those new to the forum Terry is the longest member of this forum and the most active contributor, the backbone to the place.
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
doog sometimes its the simplest option ,but i wouldn’t like to take too long to pay it off. (must admitt i’ve used the old CC for investing but paid it back quickly)
as41 just did some very quick figures
if you got $12,000 at 7% then interest is $840 over 12 months, plus the 700 to set up thats $1540 over 12 months.
So if you can finance at under 12.8% as long as you pay it back in 12 months you will be ahead.
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 Lydon
it is better not to buy in a Pty Ltd as you will loss your 50% deductabilty on Capital gains. If you own a property for more than 12 months then you only pay tax on 50% of the profit, however a company pays it on the full amount. (Not Good)
Trusts are a great way to buy property for Tax and asset protection purposes.
Dale Gatherum Goss has an excellent book called “trust magic” which covers this topic.
http://www.gatherumgoss.com./
I’ve never read Steve’s matterial so i can’t comment on which is better.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
one other thing is try to find out as much as you can about the vendor. If you know why they are selling, what they plan to do you can use it to your advantage. Often agents will let things slip that can save you thousands. Eg if they know the vendor is very keen to move interstate or has already an offer on another property and need to sell.
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 Pucci
What your asking is a really tough one because every deal is different.
Some of the issues to consider
demand for homes in the area- If homes are selling really slowly then go in low.
How long has it been on the market- the longer its been on sometimes may mean you can offer less, But not always sometimes its on longer as the seller is holding out for the full price.
How does it compare with other homes in the area. This will give you a feel for what the value of the home is.
Get recent sales data and see how much homes have sold for.
Ask the agent has there been any offers on the home already. If there has what was it for ? Even though they knocked back a 300K offer 2 months ago doesn’t mean they will not accept $280K Today, the sellers cirumstances may have changed.Sorry if you already knew all this just thought i’d offer some comments to help.
I’m negotiating a deal in the US to buy some land the seller want 270K we have offered 200K , now i’d be shocked (pleasantly) if we got it, but you never know. But Its worth way more than 250K to us.
Remember you can always go up but not down.
Don’t tell the agent that you can go higher (even if you know you can), he will tell the seller.all the best
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 as41
could you get a personal loan for the money ?
haven’t done the comparisions for you but it may work especially if the loan is only for the short term ?
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.au
