Hi Banker, Yes, unfortunately you’re going to have to virtually punch that broker because fees are higher here in NZ. The 4% is a good deal, so ask that agent what you’re getting for the money, how much advertising they’ll be doing for you. Do they expect you to contribute to the advertising.
BTW, PM me with some info on the deal. I’m a…[Read more]
Even if you’re not a serious buyer, you could start by learning your “patch” of where you may like to buy in the future. That way, if a deal does pop up you will know it’s a deal, so when you have money to spend, you’ll already have your criteria in place and know what to look for and how to do good due diligence. Don’t not do anything just…[Read more]
I’m a property investor/finder based in New Zealand (Napier) and would be happy to give you some names of professionals who can assist you in setting up trusts for investing, good property accountants, and lawyers.
Feel free to contact, and definitely look me up when you get to NZ.
Banks are generally looking for 30% deposit from Aussies and 20% from Kiwis who already own investment properties. Investors are REALLY struggling to get finance here at the moment and your best bet is to use a broker who will target specific lending institutions based on your situation. If you would like a broker recommendation, I am happy to h…[Read more]
IMHO, the best place to hold physical silver is in your own personal vault. Don't trust anyone else to "hold" it for you!From all the reading I have done, MATTNZ is right on the money with excellent research. The Crash Course is extremely interesting and I also recommend the following:http://www.goldsilver.com (check out the vi…[Read more]
Chiz, It means he's willing to vendor finance 20% of the deal. Bare in mind, it's a 4.7% yielding negative cash flow deal (rent at 350/week x 52 = $18,200 divided by purchase price $385K = 4.72%) and you're probably going to be paying 6% interest to float, or 7% to fix for two years.Good luck.Vicky
Jinal,Come over for a visit and check us out. There are lots of good deals in NZ at the moment. I haven't seen good quality properties delivering over 9%+ deals in the Hawke's Bay for years, but over the past month or so they've started popping up here.I think one reason these deals are around is because the mainstream banks are making it so d…[Read more]
TCL, you still wanting to get into investing in NZ?We're seeing some absoultely amazing positive cashflow deals here at the moment. I have got two under contract at the moment, one in Napier giving an 11% yield and another in Flaxmere at 11.96%. These yields are unheard of in the Hawke's Bay since the early 2000's.Contact me if you're i…[Read more]
Wendy, it sounds like you're having a very positive experience over here in NZ I have worked with a lot of Ozzie investors and the general thing seems to be to leverage property in Oz to create the deposit and borrow the balance in NZ. AMP (via a Roost Mortgage broker) is about the only outfit funding investors at 80% or above at the moment – I…[Read more]
There are very few property managers who will be as focused as yourself, afterall if your house is vacant you're missing out on $??? hundreds, whereas they're only missing out on 8 or 9% of that.GO ouchiemama for trusting your instincts and getting great tenants. You can't beat "gut feel".
OMG!! I'm horrified at this story. I've just started property managing a couple of months ago and always schedule open homes after 5pm as that's the only time working people can get there!! It wouldn't cross my mind to have an open home during the day! Thanks for brining this amazing story to the forum.Vicky
Salina, maybe next time you need to play with their heads instead of letting them play with yours!! Afterall who are they to judge your wealth? For all they know you could be a cashed up multi-milionaire and I'm sure a few choice words directed to them by your tag-along-Dad will have them falling over themselves to talk with you!!!! Play wit…[Read more]
Glad to hear you've decided to hang in for the duration Krish. There are a lot of investors who have purchased in the 2006-2007 who are feeling the pinch right now and many bailing out and losing money. I know of at least two that have had to top up their mortgages before the bank will release the loan because they sold below what is owed – v…[Read more]
Yes, Terryw is right, you'll need to set up the NZ trust (not necessarily a family trust) also as per the lender's requirements.Here are a couple of companies where you can get help setting up your NZ structures.Company Solutions: http://www.company-solutions.co.nz/ and Storey & Associates who are excellent property investor focused a…[Read more]