Forum Replies Created
Hi Aussie,
That’s a pretty sad story…
Perhaps the Gov’t should step in to offer incentives to get some young people off the dole, and into apprenticeships.
Why don’t people want to work these days? [glum2]
Probably they have all given up their “day” jobs to become full time property investors…[suave]
Regards,
Del
Hi Peter,
Just wanted to welcome you and say thanks for sharing your time and knowledge with us.
Property development is something that I am very interested in, and so I will be looking forward to learning lots here.
Regards,
Del
Hi Westan,
Without giving any of Steve’s surprises away, all I will say is that Steve’s upcoming book is going to be a great read with lots of truth, blood, sweat & tears!
A must read…if I do say so myself![blush2]
Del
Hi Shaun,
As far as the 70% lends, that is all that many NZ banks will lend when buying in certain towns.
I believe a couple of banks will lend the 80%, but not the ones that I enquired at.
It is to do with RISK.
Perhaps their upfront fees are higher to compensate..??Regards,
Del
Fair comment Yack,
Del[confused2]
Hi John & Lois,
We have always opted for P&I loans…
We prefer the sleep at night factor, that our loans are reducing. It means more to us than extra cashflow.
Our only Interest Only loan is a commercial one, which although it still is +ve cashflow if it were P&I, we are using it as cashflow for other properties (just in case)…
Good luck,
Del
Hi,
There are some areas that “most” banks will only lend a maximum of 70% LVR.
Some of the main ones off the top of my head are:
Tokoroa,
Taurmanaui
Castlecliff
GonvilleUm, my mind has gone blank, sorry…
I’m sure others can add to the list if you require it.Regards,
Del
Hi,
Perhaps send a PM to one of the buyers agents / spotters that frequent this forum.
The main ones that come to mind are Westan, Minimogul, TasmanInvestor.
Del
Hi Mini,
In about 2 yrs, we both will be able to set the town on fire (so to speak)…
I don’t like taking advantage of others in a bad financial position, but WOW, it’s going to be good buying all the great deals that most Australian investors don’t realise are even possible!
We will be able to pick and choose again.Regards,
Del
Hi Vicgirl,
I am a fellow Vic Girl, but soon to be QLDgirl!!
We are shifting in the near future to Hervey Bay QLD. We feel there are some great areas in QLD to invest, and for instance Hervey Bay is currently extending it’s airport runway to allow jets to fly in direct from Melb/Sydney. That has got to be good news for investors.
I think it is very wise looking to QLD for investing. The Stamp Duty is heaps cheaper there also…
Good luck,
Del
Hi Bennido,
Property investing is a business.
I’m sure that this tenant is aware that he is on a pretty good wicket…
Why not speak to the tenant, and find out how he feels about the rent increase?
He can only say yes or no…If you want this house in particular, then try to buy it as vacant possession on a long settlement, if he is not prepared to pay market rent.
I’m sure if another investor eventually buys it, they will pretty quickly increase the rent.
The question is will that be “YOU” or the next guy?
I would “probably” opt for option 1, but if the tenant is in a current lease, then I belive you can only raise the rent a certain percentage higher. Even that is with a 60?(I think) days notice in writing…
If you want the house, I definately wouldn’t go for option 4,Good luck, I’m glad it’s you and not me!![blush2]
Del
Hi Shane,
I think there are still good deals to be found in OZ, however, they are not easy anymore…
NZ has plenty of good deals still, but it is getting harder to find “quality properties” at bargain prices. I would suggest that you go there in person if considering buying there.
I think the NZ market will still go strong for at least the next 6-12 months, but who am I?
I guess it all comes down to whether you are looking for a good long term property, or a short term investment. We don’t intend to hold all of our NZ properties long term. (just in case) We will keep some though…
Also, make sure you speak to a GOOD accountant, before buying anything in NZ.
Good luck,
Del
Ok PropertyGuRu,
You asked for it…[blush2]
I have sent thru one of me!
Thanks,
Del
Hi all,
Most of you know that we are Steve & Dave’s converted “ony ever buy pos. cashflow property” types…[baaa]
Well Bennido, if I were you, I would definately hang on to this property. (as long as you are not getting into financial difficulty over it)…
The stamp duty & loan costs, added with agent’s selling costs etc. will be a hefty loss. Especially to sell before the 12 months.
Hang on to it for a while, otherwise it’s a costly lesson.
Good luck,
Del
Hi all,
Interesting discussion……
I believe that over a 10 year period, that historically variable always works out cheaper.
I don’t think that I could plan to hold any IP for 15 years. My long term thinking is maybe 5 – 7 yrs, planning anything past that is in the “too hard basket”!
Del
Hi Muppet,
Yes, I spoke to TasmanInvestor (John) today on the phone… He is still above water.
I feel extremely sad for all who are suffering in NZ, especially the Dairy Farmers… it is not a joking matter.
I think there are still some families that are homeless from the February floods.
Poor NZ – flooded one day, shaken the next!
Best of luck Kiwis,
Del
Hi,
KP, that was an excellent suggestion, about the FHOG. In Victoria that is $12,000 at the moment… It’s strange that nobody else suggested it.
Just a word of caution, posts about shares tend to get deleted…. We are not allowed to discuss any specific share prices etc…
Melissah, I’d start a savings budget, and start by writing down EVERYTHING that you spend. It’s amazing sometimes to actually SEE where your money has gone. Set yourself a goal of trying to double that $4000 in say, 3 months and really work towards making it happen!
Good luck,
Del
Hi all,
welcome back Simon…Melbear have a nice week off!
Westan,
It’s good that Janine has got you spending some of those $$$ you are making on improvements to YOUR home..
Del
Hi Muppet,
Well done to the Kiwi’s (again)..
There’s always next year….[whistle]
We aussies just love to hate those All Blacks, but they are a great team. [jerry]
Regards,
Del
Hi Westan & Marisa,
Westan I think it was us that may have mentioned Elders Insurance to you.[biggrin]
We used them first of all for our large farmpac policy and no other insurance companies have been able to quote anything close.
We use them now for all our properties, but I think that I’m getting lazy, ‘cos I haven’t compared any other companies lately.
We also haven’t had to claim anything yet, so I can’t comment on how quick they are etc..
Elders have been great to deal with though, because we ring our local office (10 mins from our home) and REAL people actually answer the phone! A nice change…
Del
