Forum Replies Created
Hi Muppett
interesting comments
i think you will find that australia sent a far smaller team to the Olympics this year than in Sydney, and as far as the Institute of sport goes, the funding was less than for the last Olympics. Interesting some of the media in NZ is calling for NZ to follow australia’s lead and put more money into sport- Yes again thay want to copy australia, come on guys do something original for a change.
Saddly i have to agree with you[angry2] those Chinese are going to take all the medals in 2008. The scarey thing, unless you want the chinese to be the best, is the way they are improving at the track. That hurdler was so fast he looked awesome. But that chinese runner i think she might be a robot ?? it reminded me of how the robot on Get Smart “hyme” used to run. Could i be on to something ?
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi All
sorry gatsby, i agree with your point, but i want to take up Marc.
firstly are you for real ????????
i will assume you are
i just couldn’t believe how far off the mark you are Marc when you saidbut to point at the reaction that such happenings bring out of most people who have been programmed to hate successful people and to align with the underdog.This is so far from the trurth as why people were happy to see Rivkin brought to justice, where have you been for the past decade? The General attitude out there is he has been pushing the boundries (legally and ethically) for years. Aussies don’t mind winners- but they don’t like crooks to win the day. (I’m not saying he burnt down his own business just to claim the insurance just saying whats what others are thinking).
If you feel happy when a high flier gets a grilling (by some reporter on $40,000 a year) when KP get’s his name on the front page for loosing a couple of millions at black jack, Bill Gates spends “obscene” amounts of money on his “lavishing mansion– isn’t it wonderful that we have a media that is able to challenge the way the mega rich behave (once upon a time they would have lost their head for such remarks), isn’t it obscene that these men hold the amounts of wealth they do? Packer looses 30 million on the table at Vegas- how many people could have been helped with this amount of money. how many crops planted, wells dug, children immunized, schools built doctors trained?
May God make us to be more careing and generous people[biggrin]
regards westanI live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi pro78
i see no one has tried to answer the question, i don’t know the answer either but i do for some countries
In New Zealand you can buy residential property but need approval to buy large acreages (can’t remember exactly how large).
I believe you can buy in the UK and the USA also.
would others like to add their knowledge ?regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi mike and everyone
you sould be able to get a lawyer for about $1,000, i’m in the process of finding a new one as ours has just put up their costs for aussies/international investors. If you find one that hasn’t dealt across the tasman often they may quote cheaper as they aren’t aware of all the extra costs involved.
as far as loan costs you should be able to get loan application costs free.
as far as interest rates goes- as geo said rates are 1% high in NZ at the moment, but fixed rates are a better option.
property managers- as geo said 10% is common but you will find a some may be about 8.5%as far as tennancies go, i’ve never seen that info documented sorry
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Guys
Go NEW ZEALAND gold and silver in the Triathlon (that 3 activity thing).
And while we are at it Australia has regained 3rd place in the Medal tally.
Well done again to the aussies, unfortunately those Russians are closing fast and will pass us.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Niki and Jop and all
Niki if you are a genuine person and really want to get out of the problem phone me i’ll be able to help you. (no i will not buy your properties) I think i’ve been around long enough to know how to improve the situation.
I now live in New Zealand phone me on 0011 64 3 4180083 or mob 0011 64 210 320 985
Jo what i was getting was i was using some of your own rhetoric (trying to be cute[cap]). You have said in the past that when you make negative comments about Cash positive it upsets people, i know you like Melbourne property so i was saying it will upset you that i would reduce my exposure to the Melbourne market. no Big deal lets move on.
OK “Cash on Cash return”- is how much will a particular investment put in your pocket each year as a percentage of the actual cash i put into the deal. For instance if a property cost 200,000 and the rent is say $250 per week, this works out as a yeild of 6.5% (250×52 weeks=13,000 Div by purchase price 200,000 and converted to a percentage 6.5%). But this is not the Return on the investment. Because you have rates, management , insurance the real return is often way less on this type of property, Add a mortgage and you have a negative cash situation. One that will cost you money and take money out of your pocket each week. Even on some homes that some people see as cash positve will in reality only give them a very low return say a yeild of 9% may only give 3% when you work out all costs. I believe that as an investor it is very important for me to know what return i’m getting on my investments. For example if i owned (had equity) 1 Million worth of property yet my income from it was only 50,000 per annum, i would not be happy that is only a 5% Cash on cash return. That’s why i continue to sell properties in Oz. I want a good return from my money say around 12%+ return on My investment. While i expect capital growth as well, even if it doesn’t happen (as we never know) i will still be making money. If i have poorly expessed it please do a search on “cash on cash return”
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Yoker
where were you guys wrong then if your have changed your mind ?[biggrin]
I’m still seeing more buyer s than sellers in the markets that i still own in Australia. These are regional towns and cities in Vicitoria. Agents tell me they have seen a quieter market but prices haven’t dropped.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi trisha
no i’ve never bought in QLD, nothing against investing there , it just didn’t happen. I was looking seriously at Logan area about 18 months ago but got distracted by NZ and never did anything.
And yes sorry i got your email, will get back to soon, sorry i’m a bit behind as i had a bit of Tonsilitus (its Yucky- had a week sick) and will catch up on things nowregards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Jo
i’m happy to answer that question, in fact i’ve always been happy to openly share my investing strategy.
Ever since mid last year i’ve been saying on this forum that you can’t buy true cash positive properties (that i’d be happy with) in OZ anymore, But i also said that NZ was full of them (back 12 months ago), luckily a few who were on the forum way back then went over to Nz and bought up bit and made a packet. People like Minimogul was also promoting NZ as a fantastic investment, luckily some took her advise. i told everyone that my properties which i’d bought(as areal example) in Elizabeth SA for 24K are now worth 100K and renting for 120pw, so why own an investment that is under achieving, i could get all my money and the profit and buy a better cash cow in NZ. this is exactly what i have been doing. I’ve been selling properties that at todays market rates are poor performers ones that i’d never consider buying at current values. Actually if i owned some properties in Melb or Sydney i’d flog some of them off and by a real investment that puts money in my pocket straight away and will grow in value (no that will upset you [biggrin]).
So to sum up Steve has a special word for it … can’t remember what he calls it, i call it common sense sell something that on todays value is a showing low returns and buying ones showing higher returns.
Just for the record i like to active at least a 12% Cash on cash return (with capital gains a bonus), what cash on cash return do you like to achieve , or is it nots an investment priority ?cheers westan
regards westanI live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi all
First of all i think aussie has summed it up well.
Out of this story, lets see it as a story some issues need to be addressed- Steve has never encouraged people to buy in those way out places you appear to have bought. Where abouts have you bought by the way?
Secondly you have had a very bad run with properties- I own 30 Cash positive ones and don’t have the sort of issues you have. In fact of the first 10 i bought i replaced one hot water unit in the first 4 years.
As far as selling them now, that really supprise me as i have a few on the market at the moment and all have sold with a few weeks at close to the asking price, these are in Horsham (15 Hennessay st), Morwell (Quigley St) and Stawell (Oliver Ave) (all Vic), no problem selling, where are your properties ?
No sorry niki i disagree the book works. Hey i’d still be working if i didn’t buy cash positive properties.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi trisha
Westan are all those you purchased +CF?
How can you purchase so many in so little time?First answer- Yes all cash positive
secondly- how did i do it so quickly. We those who have been around for a long time (over 18 months) on the forum will be sick of me saying this but this is how.
About March last year i realised i couldn’t buy cash positive anymore in OZ so i looked at NZ and loved the opportunities. At that time i had about 25 houses in oZ that i’d been buying since 1997, they were all cheap properties (all i could afford) fortunatly for me they had risen a lot over the past few years but the rents hadn’t. So i started selling them and cashing up for a few NZ invasions. The first time i took my 10 year old son and we bought 3, about 10 weeks later i took my wife and we bought 7, then we moved over here to NZ in Dec 2003 to make the most of the dwindling opportunities.
I’m still selling in OZ only got about 7 left and will prepare for my next BIG investmnet attack which i’m still investigating, if it proves to be good it will be as good as NZ was 12 months ago, actually maybe even better. But too early to say it could all turn to nothing. Will let everyone know when i am comfortable. As i did with New Zealand 15 months ago.Sorry got of the track a bit there.
regards westanI live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Hagett
welcome to the forum.
Personally i think the buy and renovate strategy is a good one, I have no problem with you using money from your own home to finance the property.
One thing to think about. What is your long term strategy with these properties? Why i ask this is because i made some mistakes a few years back.
I bought properties to Reno, then rent out and sell 12 months later to qualify for the 50% capital gains tax exemption. Sure i did well and made some money but i could have made more. My issue was that when it came time to sell the houses they were now in a slightly used condition. I would have been better to buy it rent it out for 12 months , then fix it up and sell it when it was in mint condition.
Just something to consider.regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Geo
One problem with your very nice plan is that Australia would never allow NZ to join it as a nation.[biggrin]
Hey seriously now
NEW ZEALAND is on the board 2 GOLD MEDALS
WOW 2 GOLD MEDALS
Now back to the important stuff
Aussie is still in number 4 with 12 Gold medals, we just can’t catch those Japanese.
Now lets do some analysis of the medal tally, i had way too much free time today.
Lets see how we are doing as per our population.
China at top of the table has won 46 medal, but given its population of 1,294,000,000 that works out at one medal per 28 million people, Meanwhile the USA has 57 medals and a pop of 291 million so one medal for 5.1 Million people.
Lets look how the list works out for each medal
China 28 M
USA 5.1 M
Japan 4.8 M
Australia .6 M
Germany 2.6 M
France 2.6 M
Russia 4 M
Italy 2.8 M
Down the list we have
Great Britian 3.1 M
Netherlands .9 MAnd Muppett
NZ 1.9 MillionSo Australia given its population is clearly the Star performer so far at these Olympics
Regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi alex
i have little doubt that paying off the credit card debt is your first priority. You will be better to refinance the Debt at a lesser interest rate , look for a personal loan that maybe say 10-12% rather than CC rates of 17%. That alone will save you a fortune. Even if you borrow $12,000 from Mum and Dad and pay them 10% interest then you both will be winners.
Look at the interest you are paying per month on 12,000 at 17% its $170 per month. Paying a less interest rate will pay the debt off quicker.
So, if i was in your situation unless i could find a way get a return of better than 17% i’d pay of the card.
I agree with Richmond, there is no great urgency to enter the Market at the moment, use this time of debt paying to read and learn as much as you can , you will end up being a wiser investor.
all the best
westanI live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Ko_star
while it does worry some people if they have a property a long way from home personally i couldn’t care less where it is. If the deal is a great one then i’d buy it even if it was 20,000km away, (Jo then you need a real big lunch box). Sure i’d build in a bit of an extra premium for the hastle of having it further away.
Personally i wouldn’t buy a house because it is close to being cash positive, it must definately be. And the fact that it is cash positive should be just one consideration.
By the way, unlike Jo, i’m the type who has only ever bought cash positive properties. But being cash positive in itself doesn’t make it a good deal, realistically you want to have the potential for capital growth. Cash positive is just one factor in an investment decision.hope this help a little
regards westanI live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hey Guys
don’t forget a lot of people choose to live outside of Melbourne and Sydney.
People are choosing to live in Tassy, a good friend of mine has just moved from Melbourne to Hobart and he loves the place. He is a professional but sick of melbourne (big city life), he enjoys being 5 minutes from work and now has time to enjoy his young children.
If you want to look at future concerns, Tas and its small health issue is nothing compare to Adelaide’s need for clean drinking water.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Gmh and Garrytas
sorry GMH i came across rude.
your points are valid and it will not only be Tas that has problems that will need to be addressed there is/will be a shortages in all regional areas also. The visiting expert will be the way of the future i guess.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Ghm 454
they will import medical staff, from mainland, no big deal. You make it sound like there will be no doctor down there.[biggrin] Sure there will be a shortage of medical staff but Tas will not be the only area short of them.
The most recent report i read on population shift in Australia (before i left the country) was back in Dec. Then a suprise had occured and the Tasmanian population was growing contridicting all these very clever people who said the state was about to disappear.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi cas
those properties can still be found in New Zealand, but you need to look hard and in towns smaller about 5000 people.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hey Muppet
only hours away till “us” kiwi’s have a chance to win some medals [anxious], Gee its hard being a new Zealander we are out of the tri nations no medals at the Olympics[sad], i never knew life was going to be so tough [confused2][glum2].
Muppet how are we supposed to cope with this ???Meanwhile Aussies at the end of day 8 are still 4th on the Medal tally with 8 Gold and 21 Medals all up. It looks like the aussies are about to win a stack more medals tonight also.
Hey Muppet why don’t we use velcro on the seats of our pants it would have helped the gilrls in the rowing and the guy on his horse, oouch that must of hurt.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
