Hi all,
Can anyone tell me more about investing in New Zealand? How do you tell a bad company from a good one?
Trisha[cap]
Sorry, to clarify, I am looking to invest in property in NZ, and have been looking at the site http://www.positivelygeared.com.au, it sounds good but are there any catches?
How do you tell a bad company from a good one?What are you talking about Trisha. Are you looking to invest in the NZ Sharemarket?
Or are you asking about investment structures for purchasing property in NZ?
Cheers
JeffOriginally posted by trisha007:How do you tell a bad company from a good one?
Hey Trisha, its easy although I can’t tell you how to tell but from my experience’
Westan, Minimogul, CastleDreamer are all good company…[biggrin][biggrin][biggrin]
Bad Company – well don’t know any yet…
Happy hunting’
Kind regards,
George.I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
Hi Trish,
some of us find property for people and don’t charge outrageous fees to do so. You can contact Minimogul, Westan or Tasinvestor amongst others.Good? – I guess those that have integrity and don’t rip you off
Bad? – haven’t heard any bad stories on the forum about any of the NZ spotters from the forum…..Cheers
CDCastleDreamer
“+CF properties in NZ available now”Hi Trisha,
I can highly recommend Westan and the service that he offers,
He & his brother Alvin, have sourced some fantastic NZ properties for a large portion of my Australian based clients who are investing in the NZ property market.Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi.
First post here
Great forum you have here guys/gals After reading steves book im pumped up about the positive gearing thing. I know its a bit late, but im only 18 now, and thinking of investing with my brother.
Anyways. To the point. You say the spotters on these forums dont charge outrageous fees. What kind of fees are we talking about. Obviously different people will have different fees, but i just want to get a general idea.
Also, when i pay the fee. What do i get in return. The location of the property and the number to the RE agent? Sorry for sounding so naive, but im really a beginner in the whole area. Do you get any other type of information as well?
Also, would you just contact the relevant forum member through pm and ask them for any possible properties they might ‘have in stock’?
Sorry if the thread was hijacked
Slodki
Hi Slodki,
eail or PM those contacts above from the Members page and ask them to put you on their database – that’s how it all starts.
Kind Regards,
George.I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
Hi all
Slodki, i think the others operate the way we do, (i don’t know i’m not on there database, maybe i should?), anyway back to the question.
as george said you join our database and then recieve emails when properties become available, or you can specifically request an property in an area and we find one for you that way.
Basically you are under no obligation to take the property till you have done all of the checks you require within the time available. At the time you instruct your solicitor you want to proceed “unconditionally” you then pay the spotters fee. If a spotter doesn’t supply you with all the info you want then don’t go ahead with the deal. I don’t knoew if it is true but i heard someone on this forum say that one spotter wouldn’t mention where the property was ?? (this was not one of the spotters mentioned above).
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Thanks for the replies.
Sounds like ill be joining some databases soon:) I’d like to get a feel for what kind of properties are accepted as +ve cashflow ones.
Now another, perhaps more silly, question. The main goal, i presume, is to source possitive cashflow properties. Now, seeing that the people living in Australia dont have the possiblity of checking the area out, speak to neighbours or the locals, etc, how do we know that the property really will be a +ve cashflow property. Sorry to sound so naive and rude. No offence to any of the spotters.
I mean, there is no guarantees etc. However, i highly doubt people on these forums would try to play games with other people and their money. I hope some of you can see where im comming from. I would be investing in an overseas market, only having evidence and facts ‘on paper’ without actually speaking to the people there, having a look around the area etc. For me that would be out of the question to do that everytime i wanted to purchase a property. What im trying to say is that i guess you need a bit of trust in these people? Is that right?
Like i said previously, i dont want anyone taking any offence to my comments. Im starting out and want to see how this all works.
Thank you and have a good day.
Slodki
Hi slodki
i always provide the phone numbers of local property managers so that our buyers as part of their own checks can confirm for themselves the rental income we suggest. I actually encourage people to phone the property managers, as the last thing i want is people comming back to us saying you said $150pw and no we we are only getting $140pw. At least if they have spoken to rentsal managers then they can confirm the rental demand and price.
Just for your info, we strongly suggest people pay for an independant building report also and welcome people to get a valuation if they want to pay the extra costs (although i wouldn’t encourage people pay for a valuation as i can often tell them what similar properties have sold for, which is all valuers do).regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi slodki,
Minimogul and I do the same as Westan, we provide a full list of contact people in the local area, including a couple of the local reputable agencies, valuers, building inspectors, handymen, plumbers, whatever a landlord needs to keep the place running in absentia, we have tried to think of so that from the very outset when you do your due diligence, you have access to as much independent advice from a variety of backgrounds and sources to get the best picture you can about your deal without physically walking on the grass where ever it may be.We provide the following information from the outset:
Purchase price,
expected rental figure (from the agent and often backed up by a written appraisal letter from a rental manager)
Rates figureWith those three figures, some estimate of insurance and general maintenance you are able to do your sums and see how the property will fit with your formulae and intended portfolio.
Obviously we don’t have a crystal ball, but we try to provide as much info as possible backed up by credible documents from council, real estate agents, title data whatever. This is all provided for you in the initial property brief we release to the client list.
In our initial investigations of the property we also speak with the agent to get a feel for the rental potential/ or actual if currently tenanted – we all have property in the areas we find in, so that helps us get a feel for the area as well
We are about being above board, with integrity, and aiming for you to have the most opportunity to get the information you need. We help with the tools, and you choose how hard you look.
Happy house hunting!!!Cheers
CDCastleDreamer
“+CF properties in NZ available now, email CastleDreamer or Minimogul”Thanks CastleDreamer and Westan for your replies. Much appreciated.
Now hopefully its not too long before the ball gets rolling
Great forum you have here guys/gals 
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