I agree with Playa chicken
Olly is one of the few people on the speaker circuit who has actually been there, done that AND got the t-shirt to prove it!
While he is only one voice, in my opinion he’s one of the few worth listening to!
There are many investors who have been successful in the rising market but how many of them have been…[Read more]
While I dont live in Australia I do live in Asia and invest in Aoteoroa. My mortgage broker informs me that he can source mortgages for 10% deposit but this does depend on location, your income and what type of property you are purchasing. Please feel free to pm me if you want his details.
I think that this information is important but dont be fooled into thinking that a LIM contains all of the information. In 2004 a new land owner obtained a LIM a long with other due dilligence only to find out that for cultural reasons he could not undertake the development he had wished. The ongoing publicity around this case discussed wether…[Read more]
You would need finance for converyancing, LIM, building inspection (if you choose to do one), plus have building and landlords insurance organised for when you take ownership(you will require proof of this for you bank) and of course your deposit.
Ngaruwhaia is part of the the Waikato District Council. You might find something about the district council on google.
I suggest that you go to http://www.propertytalk.co.nz as this site has a whole host of sites that will help you with your due dilligence on NZ properties. There was also a thread that discussed this part of nz that…[Read more]
In the latest New Zealand Property magazine has an article about the 7 deadly sins of IPs…No 4 Swimming pools. The general feeling for this is that you are better off taking them out and spending the money that would be spent on the pool on the grounds.
It is true that you will need to provide a deposit of 20%. I believe that this is for exactly the same reason as off shore investors investing in oz, you cant get mortgage protection insurance.
sorry can give you specific information regarding the second question.
I own a cross leased property in NZ and as far as I know the most significant thing to be aware of is if you want to add a garage or… then you will need to get the permision of the other cross lease owner.
Try this thread from the Property Talk…[Read more]
try this thread
If you go to this web site
and look up the page Members Corner (you need to be a member and it is free to join), Professional listings will give you a selection of mortgage brokers recommended by other investors in New Zealand.
I hope this helps
No matter whether you invest in oz or nz you need to do your due dilligence and remember there will always be another good deal just around the corner.
As we are based in neither nz or oz I find myself doing the same due dilligence.
I know that this is what some lenders are asking but I suggest that you do further research on finance as it is easy to get a 20% deposit deal as an off shore investor. Try a new broker. PM me if you want to know who I have just used.
We have just made one purchase in the last couple of weeks and will be planning for at least one more purchase later in the year. I am starting the research now and waiting for my husbands graturity to be paid out and we will be on a roll.
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