Forum Replies Created
Hi mikeej,
I would say they are about a bit of both.
I know that I definately would not have achieved what I have, without the motivation of the seminars that I’ve been to.
I have found them to be money well spent.
A lot of people get analysis paralasis, and can’t actually get off their backsides and buy something. They spend the year wondering what might have been.[
]Apparently only 1% of the people at seminars will actually take action! [:0)] (I think I have got that correct)..But it feels great if you’re that 1%..
Regards,
Del [
]Hi Porsche,
Annual rent divided by purchase price = gross yield.
eg.. $150pw x 52 = $7800
$7800 div by $70000 purchase price = 11.14% gross return.Regards,
Del [
]Hi Con,
Personally, I think it is risky now to be buying cashflow +ve ppty at 106% (or so) finance, no money down.
We are now “probably”?? at the end of a boom, and capital growth will probably be NIL or go backwards (a bit) over the next couple of years.
I definately would not do 106% finance interest only.
But that’s just me,[
]Good luck, [
]Del
PS – You are not alone at being “a little discouraged” at house prices lately….[
]Pinky,
We have just sold our PPOR which we bought only 12 months ago (and made a nice little profit on) to rent for a while and invest. We are getting rid of our LOC, and getting cashed up – ready for what ever happens.
I wouldn’t be spending big right now, although buying a HOME is an emotional issue, not a financial one.
If NOW is right for you to buy, then do it – but be prepared for what may happen if you sell again in the short term.
Regards,
Del [
]Hi Craig,
Will & I have been members of the State Emergency Service for about 8 years. That is actually how we met.
We do everything from road accident rescue – (cutting people out of cars) etc. to storm damage, floods, police searches etc…
It feels very rewarding to help someone in their time of need, especially at car accidents. Sometimes it’s not pretty, but someone has got to do it.
I can’t recommend this type of thing highly enough to someone who truly is looking to commit to longterm voluntary work.
Regards, [
]Del
Marc,
Thanks for that info on the banks. It seems I have a bit more research to do.
I hate the thought of photocopying our company financials all over again, when considering changing banks, but I’m sure it’ll be worth it to finally find one that is good.[xx(][
]Marc, do ASB only lend 70% for certain towns?
Regards,
Del
Hi Mini,
I don’t know who you bank with, but with the ANZ I can now do Telegraphic Transfers from my ANZ Aust internet banking and also from my ANZ NZ acount.
It’s also $8 cheaper doing it myself, rather than going into a branch.
Also, you don’t feel like such a pain, when the bank is so busy.[
]It takes a week or so to set up.
Regards,
Del [
]Hi Stu,
Can you pls explain how the IO loans with principal repayments works pls.[
]Thanx,
Del
Hi Pinky,
We have a couple (but one in particular)of RE Agents that we regurarly keep in touch with, and they keep in touch with us. (I mean every week)!!
One even sent my daughter a beautiful 2004 Horse calander for her 6th birthday this week!
We don’t expect to find anything worthwhile on the net anymore, and we don’t even check http://www.realestate.com now.
I strongly recommend that people decide on an area, and build a good relationship with the agents in the town. The agents will start to ring you first, but lately it seems that “dutch auctions” are in fashion.
Know your area well, and don’t get carried away…If the deal doesn’t work out – then walk..
Bye,
Del
Hello Carmen,
Good luck with whatever you decide. We have just sold our house (not quite unconditional yet) to use the funds on further investing. It feels great. There was a good post a few weeks ago called “Sell, rent and invest” or something similar – do a search, and have a read….
Just a word of caution about giving your “personal details” out to a total stranger” – BEWARE !!!
People sound friendly and helpful, but this is a public forum, and we don’t always know peoples motives…
Stranger danger!! [
][][]Good luck,[
]Del
Hi Bridgette,
I saw Mangakino a couple of weeks ago, and I didn’t get a good feel for it at all.
It is off the main highway, and it looks like more of a ghetto type area to me, other towns close by, I didn’t think that. I was told crime is quite bad there.
Cheap isn’t always good.
Just my 2 cents, for what it’s worth [
]Del
Hi Russ,
Sounds like you really do have tenants from heaven!! You are very lucky.
As far as the wrap senario, if I were you I would re-post this thread in the wrap section. You will have more takers….[
]Because the house has appreciated quite a bit in value (to $200K), you generally add around 20% to the asking price, making it around $230-240K. You can make the asking price what ever you want, don’t rip yourself off, but on the other hand don’t make the house too unaffordable, or it defeats the purpose.
Interest rate is usually set at a margin of around 2% above your interest rate, ie.. approx 8%+.
I haven’t got my financial calculator here at the moment, but for many tenants this price range would make owning the ppty much higher than what they are paying in rent. For some tenants (depending on their income) this may not be a problem.
Good luck,
Del
.28 sec.[
]Good game Bill!
Del
Hello Jarvis,
I won’t say that I know what you are going thru, because each person’s situation is different.
I will just say that I felt similiar things after the birth of our two children, 13 mths apart in age. Life was very difficult, and I was used to living a very independent life and it all changed – DRAMATICALLY.
Please make an appointment and go and talk this out properly with a GP, it is very hard to make the first step, but even if the doctor is a total stranger, it doesn’t matter. Just talk it out with somebody qualified. Please, things are not as bad as they may seem. Do it for your baby, if nothing else.
It was very brave that you have discussed your problems here, but please seek professional advice. I’m sure if you can talk it out here, you will have the courage to take the next step.
Good luck, I want to know how you go…[
]Keep in touch,
Del
I agree with Pin,
I am in the higher tax bracket, and I would benefit by having 1 or 2 neg geared pptys.
I won’t do it, because I am trying to build up a large portfolio of pos cashflow pptys, and our short term goal is to sell our business, and live more off our cashflow.
I am all for +ve cashflow investing, but I do understand that -ve geared can be a very useful investment tool, if you are in an upward market.
Just my 5cents worth,[
]Del
Thanks for sharing that lovely story Judith,
It’s my daughter’s 6th birthday this Saturday.
Your story brought tears to my eyes!
…..You get very emotional once you become a parent!!!
Regards,[
]Del
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