On a seperate issue I have often wondered about those saying that the Kiwi market is 18 months behind Australia. Seeing as the last 12 months have seen negative growth in many parts of Australia does that mean that the Kiwi market as a whole has only 6 months of growth left?

I realise that you cannot generalise the…[Read more]

Let Christmas be Christmas.

No matter what I say, what I believe, and what I do, I’m bankrupt without love. (1 Corinthians 13:3b – The Message)

No matter what I say, what I believe, and what I do, I’m bankrupt without love. (1 Corinthians 13:3b – The Message)

Point taken about life cycles etc. The way I read it did not fit in with the rest of your post.

I too agree that Yack is largely helpful and that his first post was deliberately provactive to stir up the pot.

Unfortunately it was some of the latter replies that were not so helpful.

Kind Regards,
Tim

No matter what I say, what I…[Read more]

I think you are a well informed investor who is living proof against the stereotype of the ill-informed, do-it-on-a-whim, follow-the-crowd, sheep-to-the-wolves new investor.

I too am a fairly new investor and have found some of the posts in this thread condescending and patronising. It is almost as though some people feel threatened by…[Read more]

If a tenant has a formal lease and is abiding by its conditions then they have the legal rights to occupy the residence.

My understanding is to all intents and purposes it is theirs for the duration of the lease. I do not mean that they can modify the land or…[Read more]

Congratulations. Sounds like you have a couple of good deals there.

The way I look at investments is that if a deal is making money for you at a reasonable risk level then you are on a winner.

Sure there may be better deals but sometimes (ie. the current market which is stagnating) you are better off with something you KNOW is good than…[Read more]

No matter what I say, what I believe, and what I do, I’m bankrupt without love. (1 Corinthians 13:3b – The Message)

Will do.

Kind Regards,
Tim

No matter what I say, what I believe, and what I do, I’m bankrupt without love. (1 Corinthians 13:3b – The Message)

Not sure about Agile’s comment regarding depreciation not being claimable on positively gearded properties. That sounds odd.

I need to clarify that I am not certain about the depreciation with + geared properties in NZ. This was an informal comment I heard and I need to research it further when I find a good…[Read more]

Good point GreatPig. You are 100% correct.

Is is my understanding that depreciation may not be able to be used as a write off for NZ property if the property is positively geared. Also as the properties are old there may not be much of a benefit to paying the quantity surveyer once his/her…[Read more]

Would you be able to supply more info on the properties in NZ?

1. Did you buy sight unseen?
2. Is your gross return worked out: (52*rent per week) / Purchase price or are you calculating your yeild some other way?
3. What areas in NZ did you buy in (if you feel comfortable sharing)?
4. Not sure why you would need a surveyer at this…[Read more]

I think I will take your advice:

“Never argue with an idiot, as they will bring you down to their level and beat you with experience”

Regards,
Tim

No matter what I say, what I believe, and what I do, I’m bankrupt without love. (1 Corinthians 13:3b – The Message)

You said:

Sounds like you know all about NZ Tim and they way they think.

I did say I am not well travelled. But I have been to NZ. I do invest in NZ. I do have Kiwi mates. My best man at my wedding two years ago was a Kiwi. From my time in that country (and no I am not a resident, just a visitor, so my insights are not…[Read more]

Tim the fluffy post master.

The rivalary between Aus/ NZ has nothing to do with an Australian percieved arrogance, and if you knew any Kiwis then you would know that!!
Did you read

Fluffy….lol…I have been called worse.

Do I know Kiwis? Err well let’s see. I invest my money over there. Go there on…[Read more]

This to me is arrogant. I have read in other topics in this forum that many people consider American’s arrogant because…[Read more]

maybe you should be called ‘agile’ instead of me. You are certainly great at the backflip.

Regards,
Tim

No matter what I say, what I believe, and what I do, I’m bankrupt without love. (1 Corinthians 13:3b – The Message)

Are you kidding Monopoly? You are seriously putting the growth of NZ property values down to a movie that was made in the country.

If I was a Kiwi (I’m not but I invest there) I would find this remark extremely…[Read more]

This will be my last response to you on this particular topic.

I find it sad that you cannot accept (note i did not say agree) with differing arguments from your own.

Another reason I do not wish to discuss this further with you is that I find that you continually make this into a personal attack. For example when have I ever trash…[Read more]

I am not well travelled but one comparable example (as Mini mentioned) could be NZ. I do not know for sure as I have only ever briefly visited this country.

On the surface it seems that the population in NZ is more integrated than in Australia and that the country has gone ahead and dealt with land rights issues in a fair and mature…[Read more]

However with a comment like:

“Being poor must sux (yes i can spell) because their attitude is always “money isn’t every thing” well my question is, why are you on this site finding out how to build wealth ”

…I would think resiwealth was looking for reactions. That is precisely what he got.

Kind Regards,
Tim

No matter…[Read more]

I agree with you about a wider due dillegence clause being needed to get out of unforseen circumstances eg. bad area.

The problem I see with this blank get out clause is that it would not (putting my vendors shoes on) instill a great deal of confidence in me about your commitment. Also if there were two offers of an equal price i would take…[Read more]

A quick one b/c I am short of time

I agree with most of what you say.

Having a property subject to building inspection wshould always give u an out of the contract if the building is 20+ years old. This is because a good building report should list all repairs, minor and major and one cannot possibly be aware of them all when you bid;…[Read more]

I think that if you put conditions of finance and building report that should cover most things.

Regards,
Tim

And I absolutely agree with you about racism existing everywhere and that it much worse in other countries than Australia. On the other side of the coin there are most probably a lot of countries much more tolerant than Australia.

Regards,
Tim

Not sure about all your questions but as to regards a NZ bank a/c for rents. I highly recommend this for the following reasons:

1. You may be charged for for property managers to put your rents into an aussie a/c
2. If you are using an aussie a/c you are continually exposing yourself to the foreighn exchange rate on a monthly basis.
3.…[Read more]

Kind Regards,
Tim.

I also agree with other posters that racism in Australia is not as bad as other…[Read more]

Here we go again bash australia from within. Maybe to put your comments into context you should travel overseas and see how racist Australia really isnt.

Are you asserting that Australia has no racism in it whatsoever?

And if you are not how is what we are discussing bashing Australia?

i know how you feel. Sometimes I feel the same as you for a variety of reasons. Can’t we just all get along?[strum]

in answer to your question: Yes racism still exists in Australia. However things are better than they were say 40 years ago. Did you know that it is only since 1967 that Aboriginees were counted on the census (population…[Read more]

Seriously you have time on your side. Unless you can borrow some money somehow you first need to save. Now I realise that you might only be able to earn about $10 an hour but at your age most of that will go into your pocket. Not on mortgage, car repayments, food, insurance, rent etc. Save as much as you can. Perhaps open an…[Read more]

I wonder about the feasibility of this and whether residential property does get to point of simply being overpriced or at a stagnated price.

I don’t know…[Read more]

From the little I know of NZ RE I would agree with you. Perhaps Peter could arrange a joint venture with someone?

Regrads,
Tim.

The disadvantage of the Australian loan is that to service my debt I need rent payments from NZ. This will most probably mean doing a small international transfer from NZ to OZ…[Read more]

The figure of 120 vs 145 is a massive difference in percentage terms.

It would certainly press a few warning buttons in my mind.

Regards,
Tim

I am in a similar situation. I am in the process of buying my 1st IP in NZ which I did with a NZ loan with 20% cash deposit.

I amcurrently researching tapping into 200k equity on my owner occupied Sydney mortgage. St George have said I can do this with a line of credit (LOC). Set up fees would be about $300 + mortage stamp duty of about…[Read more]

I also believe that money/material wealth will not bring happiness or fulfillment.

I believe the real danger in just having financial goals is that what happens when u achieve them. Sure u may say travel, nice car, harbourside mansion. But are these lifelong fulfulling…[Read more]

Kind Regards,
Tim.[biggrin]

I am in the process of buying a NZ property through Westan and Alvin who I cannot recommend highly enough.

I am using 20% cash deposit on this property to finance this deal through a NZ bank.

It is my understanding that I cannot use my Australian equity to get 100% financed NZ property…[Read more]

It would appear on the surface that trusts are a great way to start as you spread your risk around rather than gambling on on 1 property/tenant.

On the downside I would say that you…[Read more]