glad to help,

Yeah well it must be those years of piano lessons, but I am a fast typer!

cheers-
mini

Mid-priced properties – well say for 300k you could get a gas station commercial property in Rotorua (66,000) for a ten percent yield, tenant pays outgoings. Or for that amount you could get a block of units say anywhere from 200k for a duplex to 1M for a larger block. That would be CF+ve.

Smaller towns, bigger deals tend to have better yields…[Read more]

Hi Wolly!

“After the offer has been accepted, is there a cooling-off period?”

Yes. that is unless you make a totally unconditional offer! Usually you make an offer subject to this and that (touch base with a solicitor prior to your first purchase and talk through the process with them. Run all offers past them first especially…[Read more]

haha, yes ‘North of Taihape’ is vague enough!

Actually there are loads of towns in NZ growing like mad – buy there! plenty of towns and deals to go around.

Just go to statistics NZ and have a good look around.

Hi Guys.

At the same time as castle dreamer was in NZ on the ground and couldn’t find a thing, I *finally* got to contract a great yielding property in a suburb of a town expected to double in population within 2 years. (yes I have that in writing, but it is not yet published yet – but it will be!)

Yeah – heaps of problems (where do I start!)…[Read more]

maybe I’ll be forced to eat my words about Invercargill. Now Westan when are you going to tell everyone what’s up!????

Yes indeed the bulk purchasing of apartment blocks (for example.) That’s why I don’t really see what we are finding in NZ as competition to richmastery as they tend to go for a different sort of property to us. We mainly do houses, duplexes, smaller blocks of units, not so much into the apartment thing. If you were into that sort of thing I would…[Read more]

Hi Westan, yeah, that sure does gladden my heart.

I remember spotting four deals for one of my first clients. We got her 4 x houses in Stratford for 80k ( as in, 20k each.)
CF+ve like mad, of course. She bought them as a portfolio so we actually bargained the price down from 100k to 80k.

Cheapest house on the market right now today in Stratford…[Read more]

Hi Westan, yeah, that sure does gladden my heart.

I remember spotting four deals for one of my first clients. We got her 4 x houses in Stratford for 80k ( as in, 20k each.)
CF+ve like mad, of course. She bought them as a portfolio so we actually bargained the price down from 100k to 80k.

Cheapest house on the market right now today in Stratford…[Read more]

“All the smart money that was buying in Tok in 2003 has been selling.”

Westan,

look you know I respect you utterly and think you’re a top friend and everything like that, BUT!

that is a bit unfair, because it makes it seem like you think that ‘if smart money is selling’ only dumb people buy there.

Look, I would have said the same about…[Read more]

Well I was never too crazed on it, but it has been making the news as a place on the up, so…maybe it has proved me wrong. I don’t have any money there though.

westan who lives close by is vibing it though, there is loads of stuff planned for the area, so it may be quite a good place, who knows really!

check rental demand, that’s a good first…[Read more]

Hi Westan,

no I’m not! (having trouble buying deals!)
It is just that nothing much is making the list.

Deals are just fantastic! it’s amazing what you find if you are always looking, as are 5 other compadres and members of our team!

Just put a great deal under contract today, 30 min from Tauranga with about a 200k upside for us!

A deal where I…[Read more]

“It has really friendly people that would do anything for you,that’s if you take the time to get to know them.”

well, aint’ that the truth! For many towns in NZ.
I just found, the slower pace of life means that everyone has more time for everyone else, which is so refreshing when you’re used to the fast pace of Sydney. You could say that about…[Read more]

valid comments back

> Don’t they say ‘one sparrow doesn’t make a summer’?

Yes, they do say that.
I wasn’t the only sparrow, however there were all these big squawking magpies who were louder and there were much more of them, so nobody heard the sparrows, and said, hey, you’re just a sparrow, and you were just lucky, and I don’t believe you anyway, etc etc, yeah,…[Read more]

surreyhughes, I salute you for your most excellent sense and catchy turn of phrase

Hi Guys

Although I think it is great to get a discount, I count my property manager as perhaps THE most important person on my team after purchase to ensure the property performs as expected. Therefore, I don’t try to discount the fee, until I have three or more properties, where you could argue that they have less admin.

I wouldn’t like to give…[Read more]

I went tonight in Sydney and thoroughly enjoyed it. The team offer a fantastic service – basically, they buy/renovate/improve/ and onsell to you a perfectly done-up and ready to go 20 percent plus yielding property. They have 14 years or so market knowledge and know every suburb and every street, there is basically the whole thing ready to go. It…[Read more]

I agree, it’s not so much the house, or where it is, or anything like that – it’s how you solve the problems. Hey, is being next to a gang member a problem? Not if you get 100 percent CG’s in 18 months. Is a renovation that costs 14k to get the house up to scratch a problem? No, not if you end up getting 24 percent cashflow returns on purchase…[Read more]

“high cash flow properties, that have little capital growth. Its very hard to save for your next deposit ‘from a few dollars a week +ve cash flow”

Re the above, this is what most people believe, but they are wrong.

In NZ I bought 20-24 percent CF+ve properties and all of them went up more than 100 percent in 18 months. They were very cashflow…[Read more]