I too have reservations about the maintenance cost of older properties and the investment in time required to find them and manage them. I guess I’m a very passive landlord, but I’ve got a good manager, so my investment in time is very little for my 4 properties (except maybe for the termites in one). I’m sure I could have 10 times as many like…[Read more]

Just another question about your book Steve: In your appendix B about negative gearing you give the example of a property that costs $230,000 including closing costs, with a $207,000 loan and $23,000 deposit. It sells for $322,000 with a paper gain of $92,000, which will be reduced by selling costs of $14,880.
In your table on P356 however, your…[Read more]

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Congragulations on making 100 [] lets hope next time it equates to properties []

quote:
i thought this topic stream was the perfect place for me to bring up my century of replies.

quite long winded with very little useful information

but ive anjoyed the ride anyway

see you on the otherside

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Dear Tamara,

I’m seriously thinking of investing in NZand the mortgage broker that was recommended to me by the real estate agent was useless. Could you please recommend any mortgage brokers.

quote:
To save contacting a variety of nz banks why not try a mortgage broker. There are some that have plenty of experience dealing with non resident…

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Hi Mini

I can be reached at christiang@consultant.com

Cheers

Maybe your asking in the wrong forums? Try an alternative forum which can be found on an australian search engine. Or yellow pages?

Cheers

quote:
Someone please???

Maybe your asking in the wrong forums? Try an alternative forum which can be found on an australian search engine.

Cheers

quote:
Someone please???

Email me the details christiang@consultant.com

quote:
What type of deal? Budget

Hi Mini,

Can you please recommend to me a good lawyer to use for PI in NZ. Should I be using the services of an accountant etc. in NZ or AUST? Also are your loans / bank accounts situated in NZ or AUST? Thanks I’m just about to buy my first IP but need to find the right people to deal with.

Cheers

Christian

quote:
Hi all,

>If I read you…

[Read more]

Thanks Nessie, The property was a brand new brick veneer on a slab, from a major builder. It was attacked after 2 years, and I’m having trouble keeping the little blighters out, even after forking out for another chemical barrier ($2300). Any property should require the barrier to be replaced every 5 years, but I never hear or read about this…[Read more]

Principal payments are essentially just a 3% after tax investment, no matter how you look at them. It doesn’t really matter how much is left owing, you are still investing your money at 3%. The bank probably views cash and equity as equal when assessing us, so If we pay off principal, or keep it aside in an offset account, then it probably carries…[Read more]

Derynaka, a loan is only deductible if the purpose of that loan was for the purchase of income producing property. harrymak has taken out an equity loan for personal reasons.
I agree with you about keeping the property. Pre CGT property is a valuable resource. Hmmm, I wonder if the banks take your CGT liability into account when evaluating your…[Read more]

And just one more thing: Claimng for depreciation may be essential in keeping your head just bobbing above water, so that hopefully when it finishes after 6 to 8 years, your rent and personal income has inflated / been promoted to the point where it can compensate for loss of deduction allowance. So if the CGT is greater as a result, so what, at…[Read more]

I don’t think anyone has mentioned the time value of money in this post. You may be comparing well and truely depreciated dollars against todays dollars. F/P = 2.7 after 25 years at just 4% inflation.

You certainly have plenty of equity, and you could borrow a lot more than 80% of that equity, because the 80% will be of the total valuation of your existing property and all others you acquire.
Your limiting factor will probably be your ability to service the loan repayments with available cashflow, not your equity, especially if you go for…[Read more]

Hi PeterP, I can see a lot of members have read your post and nobody has replied to it yet, so I’ll have a go.
Steve was saying that net cashflow is simply the difference between casflow received, ie rent and cashflow paid, which includes principal loan component as well as interst. He doesn’t include “cashless” deductions like depreciation…[Read more]

On first sight of Steve’s famous 130 properties in 3.5 years I though “boy he must be hypersensitive to interest rates” I could see that $300,000 pa turning equally negative with just a few percent hike in interest rates. Having read Steve’s book I now assume that the majority of his properties are Wraps, in which I gather the client is locked…[Read more]

(My very first post so here goes) I have 1 PPoR, 4 IPs in Goodna & Brisbane + a 10% share of commercial property (shopping centre) in Beaudesert.
Hi Fester, I believe that banks usually have two main criteria: 1 is equity/cash typically 20% for no mortgage insurance (perhaps accepting mortgage insurance is normal for investors though in order to…[Read more]

Is $480 per week the median price for similiar properties in your area? Based on the market value today I’d of thought it’d fetch more than what’s paid.

Where abouts are you located?

I’m sure it would make it a lot easier if you posted your location and perhaps an email address.

Cheers