Hi Di

one question need to be considered before a decision is made, most importantly what do you see as the potential capital gains for your IP ? If it is low growth for the next 5 years then i’d sell.
if i was in your situation this is what i’d do. Sell the iP and pay any CGT. that will give you about $120,000 cash to buy IP’s with. I’d then sit down and find out where you can best reinvest that money. I’d buy properties that will appreciate and are cash positive. Therefore I’d buy in NZ, i’d buy properties that were showing at least 10 returns (hopefully higher).
Your $120,000 would give you control over approximatley $.5 million worth, all cash positive. I’d do my research carefully though and buy in the right areas.
I say this is what i’d do because it is exactly what i’m doing, as i’ve been mentioning often on the forum (the regulars will be sick of hearing me say it) for the last 12 months i’m continueing to sell IP’s in OZ and investing in NZ.

all the best with your decision, my approach may be too radical for some,

regards westan

hi Geo

i think that is a true story

certainly sounds like one anyway.

westan

Hi stelep

welcome to the forum,

can you do us all a favour and do a search before you post a question, often we get the same one over and over again.

hope you enjoy this place as much as the rest of us, there are some exceptional people here.

regards westan

Hi michael

great response again. I remember hearing Dolf De roos make a comment on how the media loves the stock market but talks the property market down. This has stuck in my mind over the years and it is so true.
I’ve noticed if a journalist talks to one so called expert who says the market will slow down and 2 others who predict strong growth the headline will be something like “market set to fall”, its only when you read the small print you start to see what they are saying. As far as economists go- in the past i’ve made it clear on this forum what i think of economist, not many of them make it to the rich lists, suprising with all their superior knowledge.
Richard i feel the days of buying properties returning over 10% returns in NZ is disappearing- its Australia all over again. even if the markets in Auckland slow the interest for cash positive is exceeding demand. This interest isn’t just from the local market it comes from the UK, HK, and Australia, it sometimes feels like the whole world wants a piece of New Zealand.
Anibus as far as a poor startegy ??? if you buy right its a top strategy.

regards westan

LOL Kay

i can assure you he is not me. He sent me an email and said i had no credibility because i don’t have an website so i asked him to ask the forum.

Kay as far as having a bad day !!!! Needing affirmation ??? LOL more like a panadol after spending the day with the sons class on a bus trip to Dunedin.

regards westan

Hi ken

20-30 years is a long time, why not do it in 5 years, it can be done.

Nothing against Vangaurd but why pay someone else to do it, read all you can, talk to those who have done it and fast track the process.

regards westan

Thanks Hux001

My brother is wrapped to be off to the game tomorrow night. Like you, he is a keen Kangaroo’s man. Being a Tigers supporter i’d like to see a Mapies defeat.

i must say i was rather disappointed with the rest of you guys didn’t even put in a bid

maybe next time

regards westan

Hi GP

i wouldn’t take on a property just because it has a good tennant in place. The area has to be right as does the price and the rental income, a good tenant like yours would be a huge bonus.

regards westan

come on all you property investors, how a bit of support for your favorite charity

i thought after a win the magpies would be out in force.

well i’ll up my bid to $125.

regards westan

Hi Yack and Myydral

i started investing in 1997, sort of out of neccessity. I had just finished 4 years of studying at at Bible College in Melbourne and had started a job as a school chaplain in a country town called stawell. The job was for only 4 days a weeks so i needed to make some extra Cash (as we had 3 kids at that time). I had been investing/trading the stockmarket for a few years but was surprised to discover i could buy properties for 30K that would rent for 100pw. My net worth was only 25k at that time so with the help of loans from mum (which i quickly paid back) i bought 10 homes in 12 months. It seemed such an obviously easy way to make money yet no one was doing it, so i was a bit worried that perhaps i was missing something and could be setting myself up for some big financial problems, so i stopped buy homes.
Then i read Robert Kiyoski’s Rich Dad Poor Dad. As i read this book i became more and more confident that i was on the right track and i decided to get more agreessive. Luckily the market had moved up and i started to refinace and use the money for more deposits. By March 2003 i had 25 properties, at this time i realised that i couldn’t buy homes that gave me the return i wanted.
Then i had another major event in my investing live. I discovered that in New Zealand i could find exactly the returns i was after. I then started selling in OZ (properties that had tripled in value) to finance my buying in New Zealand. About July last year i realized that i didn’t need to work anymore so i thought it would be fun living and investing in NZ for a few years. In Dec 2003 the family moved to NZ, today i only have about 12 properties in Oz and about 20 in NZ (i’m still buying here).

look forward to hearing others stories.
(in fact i would love to put a book together and make it available to others on the forum, if you want to contibute your story in about 10 pages email me, i’ll give you some guidelines we can then send out an e-book to those who would be interested, i would like to make a charge for this book of $15, this money can be sent direct to my nominated charity which will be “opportunity international”). Anyone interested email me at [email protected]

regards westan