hi fibejebe

unfortunately
Agents get money from us every way they can, agents fees, account fees, letting fees. If your agent is doing the right thing and inspecting the properties regularily and keeping you informed i’d stay with them. i don’t mind paying if they are doing the job, it annoys me when i pay and get nothing back. so day i seek agents who have a good system of management ie regular inspections, written reports. after all the difference of 1% (agent fees)on a property of 150pw is only $1.50 each week.
regards westan

hi slum lord

i like that advice “talk to rich people” so often people go see a financial advisor. i could imagine what Kiyosaki would have to say about getting advice from other poor people who have to work to make a living.
my uncle retired when he was 40, he has since done lots of businesses and “jobs”. About 10 years ago i asked him what did he think of Superannuation. his comment was “you’ve got a brain why pay someone else to do it for you”. Glad i took his advice, even with my brain.
regards westan

hi all

personally i wouldn’t do it becuase i feel it could take a while before you see any capital growth, so for the next few years you will be loosing money. How much money do you want to loose?
If you finance this property it will have an adverse effect on your future loan serviceablity.

But then again as others have said if you have a long term stategy Altona has averaged a return of 8.2% PA from 1991 to 2002. so if this trend continues a property in Altona should double in value in under 9 years.
westan

hi guys

slum lord you are right historically the population has been in decline, but this small community has been incredibly pro active to return the town to growth. i haven’t seen the recent figures but i don’t think there are vacant houses there. (i don’t own any in Nhill it is too small for me).
westan

hi guys

i like Nhill, its about 150km further along the road from me. It’s a go ahead sort town.
every time i drive through it, it looks better and better.
westan

Hi guys

looks like we can’t keep the lid on NZ too much longer.[]

Muppet, yes those towns starting with W and T that don’t show any capital growth. if you can buy into a town like this, that is about to increase its workforce, by say 100 then you would expect some capital growth. Sometime properties are just so cheap they have to go up in value. i think even New Zealanders are starting to realize some of the bargains in their own back yard. i bought a house in Adelaide (elizabeth) in 1997 for $24,500, everyone said there would be no capital gains there. well two days ago i sold it for $94,000. that’s not bad for a place historically showing no capital gains. (and no i didn’t do much to it, just new carpet when i bought it and an airconditioner a few yrs ago). i like to buy for the cash flow and any CG is the icing on the cake, i try not to rely on it.
Well done Bridgette with your first of many NZ properties.
better go the Pizza’s have arrived.
westan

hi bridgette

i suggest you get on a plane and go over and have a look around. i don’t like to say to much these days about NZ, it just creates more Aussie interest in the land of the long white cloud. But i’d be comfortable buying in Gore (i’ve got 2 there myself). some advice for you. i know alot of people who are regular to the forum and they would never take a deal out from someone, but we don’t know who is reading the forum so try to be a little more candid in future. i would hate someone steal this deal from you.

regards
westan
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Copied from the “general investing” forum

he sounds like a real fruit loop.
westan