Hi roundbelly

I’ve been a member of this site for over 12 months and the quality of advice is excellent. Usually you will find the other sites are lureing you to buy an investment property they will make a cut out of.
Regarding books
i’m a bit fan of “Real estate Riches” buy Dolf DeRoos -more of a why property rather than a how to.
Most of the…[Read more]

Hi profit
welcome to the forum
I agree with Kristoffer a trust is certainly worth looking into. Look at previous posts about structures and Trusts. If you plan to buy Cash positive buy through the trust, but if you continue to buy negative then you are right to buy in the highest income earner.
The Key is to buy cash positive properties that will…[Read more]

Hi wisdom

i havn’t been following the outer suburbs of Melbourne, you may have to look further out to regional cities. Steve actually mentioned this on today tonight. As an example of a cash positive deal i did last April in Horsham. Purchase price 74k
Cash on deal 20% cash the rest borrowed at 5.65%
Loaned 59,200 @ 5.65% interest $65…[Read more]

hi muppet

As i,ve said before i’ll be in NZ in Sept, i’ll be buying my tickets later tonight (on Line). if i’m near King Country feel like getting together for a beer or a wee cuppa tea?

westan

Thanks Muppet and Mini for your responses.
they have been very helpful. as i have posted in the past, i purchased 3 properties down south on my last visit. i know the north has been stonger economically and population wise but there are just as many bargain properties in the north as in the south. perhaps i’ll pick up a couple in the north in…[Read more]

Hi all

a question to our Kiwi friends. At the risk of sounding racist i will still ask the question. Is it better to avoid areas with a very high Maori population? when i was there recently i was told to avoid areas with high pacific Isander communities? One town i started to look at -Wairoa has a 50% Moari population. Mini mentioned that this…[Read more]

Hi guys

why don’t you form an investing club, get together (once a week or fortnight), at different peoples houses or a Pub and share ideas and resources. i’ll get you started by sending a Video (i taped off pay tv last year) by Dolf De Roos on property investing (worth watching). We have a group in Stawell where i live where about 8 of us get…[Read more]

Tas

i had one agent in Morwell quote 1000 less on a property than the other agent, but he said i had to pay 400 advertising up front. i was able to get him to add the $400 advertising to his commission and payable only if the property sold, (still $600 cheaper than Stockdale and Leggo). I hate the idea that i am paying for the advertising. it’s…[Read more]

Hi all

Come on you South Australian investors. How about give the lady a hand. Surely there’s someone in that Big state who can share their experience with investing? Ms Elvis will post some Cd’s on investing tomorrow to you.
regards westan

hi muppet
appreciate your comments heaps.
sorry about those lotto numbers, meant to tell you they were ours (in OZ). Where the heck is “king Country” we have “queen ccountry” here its Sydney.[]
That legal cost seemed high i paid about 700 i think plus 150 for the LIM.
westan

Hi guys
thanks for the comments about those areas i asked about.
Davo70 i’ve used a new zealand bank BNZ (owned by our NAB) got $0 application costs on the loan. Interest rates are a bit higher in New Zealand than Oz.
Rod C when would you be going to NZ i’ll be leaving about the 21st. Check out Emerites airlines return to Auckland only $376…[Read more]

hi all

agree with the other posts but would like to add these thought. i notices the market start to rise in regional Victoria when it was announced that the GST was coming in, as people raced to buy before the price rise. Then prices went up as the gov’t introduced the 7k FHOG it seamed to add 7k plus to each house. These First home owners i…[Read more]

hi mini
i’m going back to NZ in sept (we need to sort out where we are going to live etc for next year). i will also look at buying some more properties. a friend who is a Kiwi from the North Isand suggested i look at areas such at Wairoa, Hawera (near where you have been buying i think) and also Tokoroa and Huntley. What can you tell me, is…[Read more]

Maybe we had better get them to turn the forum off at bed time
westan

hi freedom
i’ve found the same problem over the years, on different occasions NAB and CBA have refused to lend me any more. but i have found Homepath (owned by CBA) have been happy to lend to me. i only buy properties that will put $30 per week into my pocket (excluding depreciation). Due to this all my investment properties actually improve my…[Read more]

hi dynamic Duo
i’m not sure whether you had that agreement on the contract, or just verbal, if verbal not in writing you may not be able to do much (i’m not a lawyer).
it is standard practice for min. of housing in Vic, not to allow access to properties before settlement as they don’t have any insurance (which raises another point get insurance).…[Read more]

Hi joff and fullout
one of my property managers “horsham real estate” are a very professional opperation, anyway they offer to pay the rent weekly, fornightly or monthly, i get it weekly.
this is very unusual (isn’t it?) but i hope a new trend.
westan

hi fullout
i still manage one property myself only because it is a friend of a friend. In the past i have done it and made some mistakes. Put a single mum into a house in Ararat, nice girl, mum came with her to look at the house. spoke to a local agent who said she was OK but exhusband was bad news. put her in the house 4 weeks later she gets back…[Read more]

hi David
i had to fax cofirmation of my salary income, but i didn’t have to verify my Oz rental income or show existing loan docs, didn’t ask to see Tax docs for my Family trust or company. i’m getting 80% finance and had to verify projected rental income of the 3 NZ propertries i am purchasing, so asked agents to write and confirm as i would in…[Read more]

muppet

an addition to what aussierogue has said we had better consider the senario because i’ve got a lot more hanging in the property market than on this weeks lotto.

westan
by the way try 4, 13, 21, 32,34 and 40