I also agree with your conclusion…

“it would seem to me that you have far too much debt, way too little equity, and too little income at the present point in time…”

Cheers, Nobleone [smiling]

“Making mistakes is just another another tool for learning.”

Can you say which funds you are considering? Or is that against forum rules?

Cheers, Nobleone [biggrin]

“Making mistakes is just another another tool for learning.”

If people replying to my post do not understand the three simple acronyms of PPOR, LOC and CF+ IP’s in NZ then I seriously doubt they can assist me…

Cheers, Nobleone [lmao]

“Making mistakes is just another another tool for learning.”

I’m investing in the mezzanine through this Brisbane based company…

http://www.asianpacificcorp.com

They provide a host of financial services.

They are a good crew. The guy to talk to about mezzanine is Matt Mercer, tell him Barry from Beerwah sent you… I’m sure he’ll laugh out loud (inside joke)

Cheers, Nobleone.…[Read more]

Setup – $895
Life Insurance – $1,260 pa

Invested in mezzanine finance returning 20% pa

Cheers, Nobleone. [biggrin]

“Making mistakes is just another another tool for learning.”

I just set up a SMSF with only $35,000.

One of the big advantages for me was that Sunsuper could only offer life insurance of $40,000… Not a lot really nowadays.

With our SMSF my wife and I are now both life insured for $330,000 each and because the cost of the insurance is paid by the SMSF it’s tax deductable.

Cheers, Nobleone.…[Read more]

I have 2 flats in Hawera and a 3-bed in Waverley.

Did you buy in Hawera? If so what streets?

I am a long distance NZ investor living in Queensland… But I do look after my IP’s. Just spent $15k doing up the flats.

Would love to get more of your thoughts on Hawera?

Cheers, Nobleone [biggrin]

“Making mistakes is just another…[Read more]

When the tsunami caused all that devastation in December I donated $300 to medicines sans frontiers… Anyway last week they phoned me to make me aware of the plight of the people of Sudan… I listened courteously and then said I am prepared to chip in to assist when natural disasters strike but I will not help to pay the bill when…[Read more]

My mother bought a property in Spain and on all the paperwork she signed her name C A Jones…

Which is her initials and surname…

But in Spanish cajones is the word for testicles or balls…

Cheers, Nobleone. [biggrin]

“Making mistakes is just another another tool for learning.”

Cant help with info on those suburbs… But when it comes to flats V houses my money is always on houses simply because of the land component.

Also depending on the flat and how many other flats are in the same building may mean you have to deal with body corp issues… To much hassle IMHO…

Cheers, Nobleone. [biggrin]

“Making mistakes…[Read more]

After reading some of the posts in this thread I feel really rich to be able lay claim to being a 2-car family…

But before you get too excited…

One is a 1982 (23-years old) Nissan Bluebird with 450,000 klicks on the clock and our pride and joy is a 1994 (11-years old) Subaru Liberty sedan with 309,000 klicks on the clock.

I would…[Read more]

I know you asked for Hamilton/Auckland area…
But as a long distance investor (I’m in OZ) I can recommend Crichton Parker of Young Carrington & Shera they are in New Plymouth – 06 278 4055.

Bought all my NZ IP’s through him… excellent service, no hassles, reasonable fee and can pull the stops out if you are in a rush.

Cheers,…[Read more]

When you say that you are “selling out of NZ” do you mean you are selling ALL your NZ IP’s?

The reason I ask is simply because if you bought in 2003 then you should be getting good cash flow returns from your NZ rents. Way more than 10% gross I should imagine.

Cheers, Nobleone. [biggrin]

“Making mistakes is just another another tool…[Read more]

I have not bought a newspaper in over 15-years.

I get all my info/news via the alternative Internet sites.

I do watch commercial television for a couple of hours in the evening (selective programs) (certainly NO reality TV) and when I do watch the ‘news’ programs I find it fascianting that stuff that I became aware of via the Internet…[Read more]

Drop George Bush an e-mail here president@whitehouse.gov and ask him to arrange for his ‘friends’ to demolish the ‘tallest residential tower in the southeren hemisphere’ just like they did to the World Trade Centre towers on September 11.

I reckon George will go for it as he needs something to distract the public attention away from…[Read more]

Bruham wrote…

Come on all you Steve fans. Grab your buckets of money and rush off to the U.S. and buy,buy,buy.
So far S.McK. is far and away in front of anyone on this website, so let’s copy Steve. [baaa]

And once again I caution all those considering investing in the US that economically things are not all warm honey and sweet…[Read more]

If you want + cash flow from day one buy your IP’s in New Zealand… It’s easy to do, I have 4, and there are forumites here who’ll do all the searching for you for a reasonable fee.

Vheers, Nobleone. [biggrin]

“Making mistakes is just another another tool for learning.”

Cheers, Nobleone.

“Making mistakes is just another another tool for learning.”

“Making mistakes is just another another tool for learning.”

Should have done that first… Doh.[blush2]

Cheers, Nobleone. [biggrin]

“Making mistakes is just another another tool for learning.”

Just to update you… The ‘tenants’ were removed after going to tribunal, young niece turned up at court and admitted to not paying rents which the court has ordered her to pay and so far she is doing so.

Finally got the place cleaned up, fixed up and generally looking presentable.

Now PM2 has got snow bunnies moving in for the next 6…[Read more]

The main reason for the fall is the smaller than expected current account deficit in the US announced this week. It seems the weak USD of recent years is finally lifting America’s export performance and reducing their trade deficit.

Just adding my 2 cents here, personally I would not believe a word coming out of…[Read more]

It is people such as yourself that I was thinking of when I started this thread.

People who are looking for investments that give a good return and who may be instantly attracted to investing in the US because the numbers stack up great.

I was suggesting that as well as normal investment property due dilligence overseas investors…[Read more]

I don’t have a crystal ball nor am I a professional economist so I cannot accurately answer your question.

However as a personal investor I would certainly be interested in looking at purchasing US property if the US economy collapes.

Once things hit rock bottom there’s only one way for them to go…. UP.

But then you have to start…[Read more]

Welcome to the forum.

Be aware that some people/companies classify a property as cash flow positive once you factor in end of tax year tax refunds.

Personally I think that if you have to put your hand in your pocket each week to add personal dollars to your rental income to meet the mortgage payment then the property is NOT cash…[Read more]

This is a very simplistic outline in response to your Q.

The point has nothing to do with the reported ‘oil crisis’ per se… The point is that right now across the world ALL oil is bought and sold using only the US dollar currency and because of this the USA is able to run up huge debts. (I’m not going into details here)

So if the…[Read more]

I agree that the source I am referencing is somewhat lacking in rational economic discourse.

As I said this is just one of many articles I have read which are all pointing in the same general direction. Mainly US economic collapse.

It just so happened that I read this particular one yesterday and so it was at my fingertips when I…[Read more]

So you are of the opinion that the US economy is not financially unstable… is not overburdened by a huge balance of payment deficits… is not massively in debt that cannot be repaid and that if oil was to change to being priced…[Read more]

Anytime I get one of these unsolicited marketing calls, even if it’s the Red Cross asking for donations, about 10-seconds into the call you just know, so I just talk right over them and say “I never do any business or make purchases over the phone. Thank you.” Then I just hang up.

I’ve never had anyone call back.

Now if you really want…[Read more]

Just read thru this thread and noticed that some forumites posted that they were skeptical and thought it was too good to be true.

This sort of thing goes on all the time and not just in the building game.

Years ago I had a LOC with Citibank and recommended a friend to talk with the broker about getting a Citibank LOC themselves……[Read more]

Or am I being sexist in assuming that Mrs Mann does the laudry!![blush2]

“Making mistakes is just another another tool for learning.”

Unless you’re a Kiw I think 90%LVR is difficult to obtain, although some people have managed it.

There is no stamp duty in NZ.

My solicitor charged around $550 per property.

Insurance was around $350.

Loan setup fees where around $500

Council rates are approx $1,000 pa

You may also need to factor in a building inspection and…[Read more]

The thought has crossed my mind, actually it was the wife who suggested it… But I will wait until March 31 and see what transpires… If I don’t get any joy I will be asking the Mungrel Mob to have a friendly chat with the squatters…

Agree on Harcourts… I’m with them now.

Cheers, Nobleone. [biggrin]

“Making mistakes is just…[Read more]

You hit the nail on the head… Are you having problems too?

Cheers, Nobleone. [biggrin]

“Making mistakes is just another another tool for learning.”

I’m curious… Have you been asked to leave or is it your decision?

Either way can you tell us the reason behind the decision?

Forums need people like you in order to present a balanced character.

Don’t go!

Cheers, Nobleone. [biggrin]

“Making mistakes is just another another tool for learning.”

Here’s a wot if…

Wot if the tenant decides to move out just 2-months into the 12-month lease?

You said market rent was $130pw… But you’ve done your figures on a guaranteed 12-months rent of $140pw.

If you had to accept $130pw do your figues still stand up?

Just playing devils advocate here.

Cheers, Nobleone. [biggrin]

“Making…[Read more]

“Making mistakes is just another another tool for learning.”

Nobleone. [biggrin]

“Making mistakes is just another another tool for learning.”

Slightly [offtopic] but related to retirement, I got this story e-mailed to me…

About two years ago my wife and I were on a cruise through the western Mediterranean aboard a Princess liner. At dinner we noticed an elderly lady sitting alone along the rail of the grand stairway in the main dining room.

I noticed that all the staff,…[Read more]

Like I just said on Somersoft… Just another great reason for me to keep on investing in New Zealand… Do the various fed and state govts want to drive OZ PI’s out of the game?

Cheers, Nobleone. [biggrin]

“Making mistakes is just another another tool for learning.”

I drive through Jimboomba every Thursday.

It’s a nice semi-rural area with reasonable amenities. Woolworths etc.

Not sure about the crime, as I am usually doing 80kmh as I pass through so there have never been any car-jacking attempts. [biggrin]

My boss lives there with her husband and 3 kids, she lets them roam free without worries.…[Read more]

I agree with your explaination re NZ tradies.

I think NZ needs a bit of a poulation boom with an emphasis on importing tradies.

Alternatively the govt could ask the electricity Co to shut the power off between 6.00pm and 6.00am so that Kiwis would have nothing better to do than make babies… I suppose then the govt would also have to…[Read more]

For instance there are serious structural problems in houses built xxxx – xxxx (I won’t say exactly when because I know for a fact that some on this forum have CF+ houses that are a timebomb…. you can’t tell them)

If you feel so strongly about assisting Lister to make the right decision regarding his O/S investment plans then…[Read more]

Would you like to possibly add anything negative to your post? [blink]

So nice to see such optimism… Have you by any chance been burned by overseas investing?

Cheers, Nobleone. [biggrin]

“Making mistakes is just another another tool for learning.”

“Making mistakes is just another another tool for learning.”

Looking into my crystal ball [sultan]… I would say that time will tell. [rolleyesanim]

Seriously though, you have made your first move and purchased so well done. [thumbsupanim]

So long as you are confortable with the current cash flow I can’t see you having too many troubles.

Cheers, Nobleone. [biggrin]

P.S. Welcome to the…[Read more]

I bought all of my NZ IP’s via Internet (planning a first visit around April) and I would say one of my biggest problems so far has been getting tradies to firstly quote and then get started on any work that needs doing.

I would also advise explaining from the very outset that you require your PM to inform you of all and anything that…[Read more]

I already have 4 IP’s in NZ and I am now considering looking at the reno side of things to increase CG and rental income.

However from my experiences so far in attempting to get tradespeople to start and finish repairs in a reasonable time frame my biggest concern is being able to get any work done on a reno IP in the shortest possible…[Read more]

Here’s their No for enquiries 1300 360 066.

Cheers, Nobleone. [biggrin]

“Making mistakes is just another another tool for learning.”

Thanks for the replies.

I guess the simple answer is to have a chat with my broker once I have had the IP’s revalued.

Westan, all IP’s are currently financed with ANZ.

Cheers, Nobleone. [biggrin]

“Making mistakes is just another another tool for learning.”