Hi Don and Liz
I think it boils down to what stage your investment career is at. Buy and hold is probably the best long term strategy, but it depends on how financial you are. It does not take long to hit the LVR and DSR wall; unless you have a job that pays zillions. Unfortunately most people are not in this category; a couple of properties will…[Read more]
The secret is to buy right at the beginning; you have to be prepared to make heaps of offers. You also have to have a walk away price and if you can’t get the house for what you want then you look for something else.
I simply look at what it costs me to buy the materials and then I just do the job. As I do this for a living now I simply…[Read more]
It is about time I jumped into this tread to back Westan up a bit. I think a lot of people have misunderstood what he is saying. I don’t think he is saying that opportunities are no longer there in NZ, only that they are not there like they use to be, and I would have to agree.
I personally have backed off a bit in NZ also of late. I now…[Read more]
I had to drop my rent on one of my houses in Invercargill. It was rented for $140 but when the old tennant moved out I could not get anyone. I dropped the rent to $100 a week and had no problems getting someone.
It is not much of a house but at least it is just paying for its self at the moment.
Hi Oxygen Funding
I just attended ULP in Sydney and I was totally blown away. Anthony Robbins is an extraordinary person and I would say one of a kind.
It was the best thing I have ever attended. It is probably not for everyone especially the egotistical or the brain dead, but apart from these people it is a wonderful experience to be had.
By the…[Read more]
I have been a bit wairy of buying Auckland apartments especially off the plan.
I tend to look at what happened in Sydney and Melbourne and wonder if this could happen in Auckland.
There are heaps of people in big trouble who bought on the word of the real estate agents that they would make a fortune. All they got was a big mortgage to…[Read more]
You have to be a bit careful when doing things to a room. What you may think is fantastic other people may think it stinks.
It depends on what you are doing with the place renting it out or going to sell it?
If renting it may be better to ask the tenant what they would like before you fork out money.
If selling stick to things that will…[Read more]
I always do polished floorboards if they are in the house. If not I always put in timber floating floors in the living areas. They do not cost much more than carpet and make a huge WOW effect to the property. People love them.
To answer your question absolutely, the wrappee can pay the wrapper out from accumulated equity.
When you do a wrap deal you agree on a price for the property at the start of the contract. If over the years the price goes above the agreed price then the wrappee is entitled to that equity. If it turns out to be more than they owe or even…[Read more]
Hi Nat R
You could be 100% right?
But on the other hand just maybe they have plenty of time and money, so can afford to be on the beach.
Sure would be better than turning up to a stinking 9 to 5 job five days a week.
When it comes to sitting tenants Westan is absolutely correct.
You also can not be sure the so called tenant paying the big rent will still be there after you have bought the place.
I have had this happen to me on 3 occasions and either had a few months wait to find another tenant or had to drop my rent significantly. You never catch up…[Read more]
Reading the latest reports on Sydney property it seems there might be a prolong downturn. Property has already fallen 5% in most suburbs except some of the more affluent areas. The forecast is for this to continue for the next 2-5 years.
What is your estimation of the length of this downturn?
Have you an opinion on the Canberra market…[Read more]
You question covers a broad area and really depends on what you want to achieve?
Are you after tax minimisation then a Company is the way to go as you only pay 30 cents in the $ tax. Plus if you are running a business and making a profit from property investing Eg doing renos, you can claim nearly everything to do with property.
If you…[Read more]
Does it really matter if the cycles are 16 years or 2 years?
If you pick up a good deal and on sell it for a profit; which by the way can happen whether the cycle is up or down? Do all the stats and graphs really make one ounce of difference?
That was exactly my point on buying Gold to protect your self. It would not do you any good in a total economic collapse as you have said, how would you spend it?
I think we could all join Foundation and dig potatoes.
Hmmmmmm where did I leave my hoe?
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