Yes, I’ve read the book too, and Ollie’s other ones ie “Lost Property”, and “The Rascal’s Guide to Real Estate”.
The Day the Bubble Burst is a follow on from “The Rascal’s Guide…”.
Both could be described as: Humorous, with a few gems, but rather lacking in substance. Ollie is own biggest fan, and it shows.
Don’t forget stamp duty and cgt when working out for yourself which way is the best way to go. Personally I would develop the block of land. Borrow against the land to build on it, and if nec keep borrowing against the improved value as you go. The learning experience alone will make it all worthwhile.
If you sell the land you will have to pay…[Read more]
Many thanks for your comprehensive response. I’ve bought an executive lakeside place in a tourist town in New Zealand. It lends itself to home-and-income and I am figuring on holiday letting for the perceived higher returns. I think I will give it a go. Being on hand I can self manage most it of the time (when I’m there), so that may…[Read more]
Interesting ramblings, but what point are you trying to make? And what the %@#& are “exogenous limits”? Sounds to me like you should cut back on the late nights and introspective belly-button gazing.
It is important that you familiarise yourself with the Deed of Lease as that spells out all the rules as they apply to your contract.
Generally the tenant has to give a minimum of three months notice if they are going to renew their lease (well that’s the case in NZ). Get that in writing from the tenant, and don’t have them use words…[Read more]
I don’t think anyone should be concerned. Kiwis have been coming to Australia for years and take Aussie jobs in large numbers so pushing up prices in NZ is pay-back!!!
No-one is concerned!!! Australia and NZ have had reciprical agreements for years – it’s great!
But as for foreign people taking jobs, would you suggest that all…[Read more]
This is one of the reasons I stick with commercial property. Both parties sign a lease and both parties treat the lease as binding. Personally I think any landlord that wants to change a lease should be shot in the eye – and the same should apply to tenants. What is the point of having a lease if no-one wants to stick to it if their…[Read more]
I’ve spent quite a few thousands on seminars over the years and I am of the opinion that generally they advance the cause of the person(s) conducting the seminar a lot more than the attendee. The exception can be when you are attnding a seminar to learn about a specific specialised skill. Mind you there are lots of good books out there, and…[Read more]
I recommend you pick up a copy of Steve’s latest book and read it from cover to cover.
No-one can say whether you are likely to continue with your capital gains or not – that is up to Mr Market.
Mr Market might decide that your property is going to keep on going up or he might decide you’re in for a 20% dip.
At the end of the day it’s up to…[Read more]
The question is not whether anyone else thinks this to be a good deal, but rather, do you think it to be a good deal?
How does it work for you? Does it put you ahead or behind? What are the costs of taking on this deal? How much deposit are you putting in? What is likely to happen after the three year period? Is the current yield…[Read more]
Even my Ferarri has her little foibles. I call them character traits. Mind you, if, no matter how much time and effort I put into her, I couldn’t get her fired up I think I’d be on the lookout for a Lambo.
Native_Metal has a point. “Gross Cashflow” would have been a better term than “Gross Positive Cashflow”.
Positive Cashflow implies the money left in the backpocket after expenses like those mentioned, and this would have been of some benefit to readers as it would have indicated how close the mappers were to retiring off residual…[Read more]
I’m sorry for you if you seriously think that way, and hope that your outlook will change… as ‘trading’ partners because they don’t follow you like a shadow in your thoughts in every way can lead to a lonely life later.
Do you have some experience with the trading in of partners to be able to comment so authoritatively on the likely…[Read more]
Don’t the words “professional” and “paid” mean much the same thing? And if they don’t what would be wrong with having a professional unpaid adviser ie if one’s uncle was a tax specialist but chose not to charge his niece/nephew for the advise he rendered would it be any less worthwhile?
My understanding is that you will have to pay tax on capital gains of your investment properties if they were purchased subsequent to your developing/trading activities and if sold in less than a ten year time span from purchase. The exception could be if your investment properties are held in a trust – but then you don’t really…[Read more]
Don’t forget that the best deals are often created rather than found. Pick up Steve’s latest book, $1m in Property in One Year” for some good ideas. In fact become an avid reader of everything and anything to do with property.
Good on you.
You all seem to go along the line of trying to make it work. That’s okay, but only for so long. If you have a car that continually doesn’t perform you trade it in. There’s thousands more “cars” out there and bound to be plenty that perform to your expectations. The days of spending all your spare time and energy trying to mend your car are…[Read more]
Many of the second tier car rental outfits have nationwide networks and are priced well below the big operators – try RentaDent. Their cars are good (about 5 years old and not dented) and you can drop off in a different location to pick-up.
You might want to try to organise something from Oz first, as this our peak time and it can be difficult…[Read more]
The free market is a wonderful thing, and don’t forget us Kiwi investors aren’t restricted from buying in Aussie.
Those who own property here (NZ) will mostly have benefited from rising values, but I guess the flip side of this is that those young people wanting to buy their first home have to find ways of coming up with a higher deposit or settle…[Read more]
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