There seems to be a few negative threads creeping back in.
Thought it may be a good idea to inject some enthusiasm and positive stories into the forum. How about some “Good News Stories” that members have experienced recently.
Perhaps some creative finance, or a great +ive cashflow buy, or a tips on obtaining great tenants.
Just a thought,
Cheers,
Battz[
]Hi all,
If you want to have a laugh at the kiwi’s I have a special non-property section on my web site called OddSpots – news such as the new Fart Tax for NZ, Brown Muck that falls from the sky etc…
http://www.propertytalk.co.nz/modules.php?name=oddspots&func=CatView&cat=1
Best regards
Marc
Hi all
battz 71 i’ll get the ball rolling, i have bought 7 properties in the past week, all cheap ones that i can do some work on the exterior to add a lot of value to. the most expensive was $58,000 and currently let at 170pw (in a city of 100,000) the cheapest 23,000 and will rent as is for 100pw, but after i fix up will let for 130pw (it’s in a town of 10,000). the rest of the deals are about $40,000 and will return $120pw.
Personally i don’t mind the negative comments it keeps us on our toes and balances our forum.
westanAwesome return Westan. If those numbers dont motivate and inspire none will![
]City of 100,000, I suppose that rules out Brisbane[
], but thats about Adelaides populatuion isnt it? (Battz ducks in the corner ready to be belted by Adelaidians….)Cheers,
BattzHi All,
I have just put a deposit on my third property which is quite Niche, but it is positively geared[
] ! The Unit will return 8% net, no Body Corp fees , no rates, leased back on 5x5x5 with ratchet clause.Lessee assumes all operating costs including Vacancy and Insurance.Bank Guarantee for the first 5 years from NAB. My Unit is $123750 GST Inc, 10% of which is claimable if you register for GST(Im not sure if I will).Im no fan of buying off the plan, but the depreciation figures and 9K a year for at least 5 years sold me. These Units will be completed next June and are in the NT.
If I register for GST(to claim $11250) I think I have to submit quarterly tax statements,anyone know? Out of 98 for sale 12 are left, Id be happy to pass on the information sheets if anyone wants a look.
Cheers
J
I would be interested in an information sheet. Please send me one if you would be so kind.
Thank you
Currently we have one IP for sale, purchased 6 years ago for $154,000 and on the market for $250,000 (not a good deal but it has been rented for part of the time and used as PPR for the rest)are renovating another which was to be sold but then found out that the property is to be re-zoned making it a four unit site so it is now getting a modified reno (believe me it needed it)to be rented until we are ready to demolish (purchased for $124,00 and will rent for $160pw) and one purchased yesterday for $119,000 to be rented at $150pw. The last two are in an area with a current growth of 20.4% and major plans for public transport upgrade and freeway extention. Next we plan on a couple more negatives in this same area, a couple of positive in a coastal area and a few wraps to help with the negatives.
Congrats to Weston, you really have got it worked outWe purchsed a unit (off the plan) in a new development of 119. Too big a number, and certainly wouldn’t want to do it again. There are still about 15 vacant, looking for tenants.
I had a couple of strategies for advertising, and thought that I would run an ad in the paper using Steve’s movie tickets advice.
My prospect saw an internet ad rather than the paper one, but when I did mention the movies to him, I think that (plus the timber floors we put in – it’s a $420K unit) clinched the deal. Ours was the first that he looked at, and he likes the design, and really didn’t want to look at any others, but as he works for the Embassy of Finland he was required to.
Final story – turns out we got an above market rent (-ve geared tho), some other units have dropped rents being asked by up to $50 per week. We also got the Embassy of Finland as our tenant for FOUR years, with price increases built into the contract!! At the moment the rent covers the interest, with about $50 per month to spare. Not enough to cover other costs, but as the property appreciated in value substantially since we signed contracts, it cost us nothing to buy, as bank lent on value – including stamp duty.
I reckon I can cope with the -ve cashflow for a while, considering it means that that’s the ONLY money I’ve put into the deal.Cheers
Mel
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), some other units have dropped rents being asked by up to $50 per week. We also got the Embassy of Finland as our tenant for FOUR years, with price increases built into the contract!! At the moment the rent covers the interest, with about $50 per month to spare. Not enough to cover other costs, but as the property appreciated in value substantially since we signed contracts, it cost us nothing to buy, as bank lent on value – including stamp duty.You must be logged in to reply to this topic. If you don't have an account, you can register here.
