Hi Simon,

There are many types of good investment.
Positive cashflow is only one of them.

I guess you need to work out your goals.
– Are you wanting to buy for cashflow?
– Are you wanting to buy for capital gain?
– Are you hoping for a bit of both?

If you are looking at capital gain in the “short term”, then go for it, as long as you can set yourself an exit date and strategy.

Don’t just go in for the “money pit” long haul.[]

Good luck,

Del

Hi Craig,

Welcome to the forum. Glad you have finally got the courage to “come out of the closet” so to speak![]

Don’t let your average income deter you. There are many posters on this forum who have started with less income and MUCH less in the bank and have achieved GREAT results. Don’t let people stand in your way.

Be cautious, (sorry to hear about Henry Kaye), oh well at least he is getting his now! but don’t sit around waiting for it to fall into your lap.

There are lots of great places to invest. New Zealand is one that I have a few places in. My cheapest cost me $20,500 and it rents out at $100pw. It is in great condition. You could easily get a few of those types if you wanted.

The sky is your limit, don’t settle for a meager one IP, set your goal for what you really want – and go for it! It won’t be easy, but anything worthwhile is not easy.

Good luck,

Sorry to go on, I should give up red wine,[]

Del

Chan$

[] That is funny! []

Del

Hi russmarg,

This is like comparing apples to oranges. They will always be different.[:o)]

You are the only one who can answer this question. Not long ago we decided to sell our family home to invest. It is going well for us, and we are really committed to make the decision worthwhile.

Work out your priorities, if you really want your own home, then that is what you should do, but if you don’t mind renting for an indefinate term, then go for it.

Remember you can invest anywhere, not just near to where you live. Most of our IP’s are about 400kms away, and it is working out fine.

Good luck with the big decision,

Del []

Hi Redwing,

Just one question……

Does SHE want to buy a PPOR, or is it just mum thinking she knows best? []

Not meaning to sound rude, but if she doesn’t have a PPOR as an important goal, then I’d let her enjoy her uni lifestyle. You’re only young & free once!

If she is as keen as mum is, then I’m sure you will all find a suitable solution.

Hope she is a good payer though…….Personally, I don’t like the idea of mixing business with family.

Good luck,

Del

Hi,

I live about 15 min’s from Cranbourne, and know it quite well.

Personally, I don’t buy for capital gain, and so am probably the wrong person to comment, but I wouldn’t be buying in Cranbourne for capital gain with the market headed the way it’s going. It’s possible you may just end up with a big “money pit”, and no capital growth for a few years.

Depends really with what you are trying to achieve. I don’t include depreciation in to my calculations.

Good luck,

Del

Hi Geoff,

If you use the “search function” you will find lots of info about Rick Otton, and his Wrap Pack.

A lot of people here think that Rick’s Wrap Pack is great, however, personally, if it were me, I’d hang out another couple of weeks, ‘cos Steve McKnights updated Wrap Libraray will be available VERY SOON….. From what I hear it’s HUGE, and quite a bit cheaper than Rick’s! They are both very different I believe.

Just my opinion, []

Regards,
Del

PS… You may find more replies if you repost this in the Wrap Forum.

Thanks for that info….

I have just “TURNED MYSELF ON” so to speak!![]

Del

Hey Westan,

That’s a hell of a lot of $23,000 houses!![:p]

Bye,

Del

Westan,

You’re right about the valuations. The valuation is almost as good as being there yourself! Probably more thorough than an average building report. So far, I have paid between $380 & one at $425 for each valuation, depending on travelling time. (1hr each way travelling time for the $425 valuation).

I would think it would be cheaper to obtain finance via a traditional NZ lender. We have managed to do it from Australia, with no application or legal fee, but I think they take each application on it’s own merits. However, 6.85% seems a pretty good rate if it’s a no monthly fees loan.

I have found the Managers in NZ much more obliging than in Australia. They actually seem to provide a pretty good service too, don’t you think..

Regards,

Del