Forum Replies Created
Hi Kristine,
I am pleased you seemed happy with Paul Bright. I am also curious how you got on to him, when I didn’t give out his name or his company…[biggrin]
He is EXCELLENT and has helped us immensely over the last 6 years or so.
You might want to try and have a look at: http://www.masteraccountants.co.nz
We are having dealings with him at the moment, and he “appears” very clued up (much more than the average NZ accountant.
I don’t know him well enough for a full glowing recommendation though, but as far as Paul Bright at Armitage Downie, I couldn’t recommend anyone higher! We will continue to use him after we shift to QLD.
Good luck,
DelHi,
No they don’t have any FHOG…
which is probably why housing is still affordable in lots of areas.Del
Hi Kristine,
You are correct that you ALSO require a cluey Australian Accountant who understands about NZ investing.
Our accountant is excellent, however he is based at Warragul VIC.
A lot of others here also use Dale Gutthrem Goss. You could do a search on the forum to read lots of discussion about him. Not sure about how well they know the NZ tax laws, as we don’t use them. Dale is about the best in Vic. so they say. Many interstate investors also use him. He has a good book out called “Trust Magic”.
Regards,
DelHi Sue,
I totally agree with you about the distance thing.
It doesn’t make any sense to use tradespeople from faraway suburbs when they will probably all charge a travel fee etc. I couldn’t blame them either. Time is money!
Can any of these minor jobs be done by a maintenance man?
Del [biggrin]
Hi Ian,
What if it’s in a depressed market where the property will possibly go down in value?
What if interest rates are on the rise?
What if you’ve had all the capital gain that you forsee for the next few years?
In these circumstances, could it not be smarter to use your “profits” rather than 100% finance?
In a rising market things are different.
Nobody is right and nobody is wrong, they are just different strategies.
Del
Hi Ash,
You are doing a similar thing to us.
We are going to attend Michael Yardney’s ‘Real World’ Real Estate Workshop. It is in June.
I am so excited about it, I believe it will be the best money we will ever spend on a seminar.
If you are serious about getting into this field, then it is probably money well spent. It appears to be extremely in depth with excellent speakers!
Good luck,
DelBest of luck finding a tenant Kerwyn, we saw the LONG lists of vacant houses also. OUCH!
Don’t stress too much about it. They will come when you least expect it!
Del
Very wise Kerwyn, this is what I was trying to explain to the KA2 people. I hope they take our warning.
There are going to be lots of Aussies left holding the baby! [cigar]
One house that we bought there at the start of the boom had been on the market for 7 years!
Regards,
DelHello Leigh my good buddy,
Yield – maybe 8.5% and over if it has the chance of reasonable capital gains.
The place has not been the same without you!!!
Talk soon,
Del
Hi Dini,
Is it close to a university by any chance??
Could you rent it out by the room?Sounds like it has lots of possibilities.
Good luck.Del
Morning all,
All that I can offer anyone going on the KA2, is perhaps to put on your contracts “subject to valuation”. It will cost you about $400, but may save you $1000’s.
Peter you may not be interested in anyone elses help, so this is for the others that may get taken advantage of.
Regards,
DelHi Westan,
We have sold our 5 houses that we had there.
I’m afraid we sold way too soon, but that’s life!We did look at houses for sale there last week when we were in Tokoroa, but we saw nothing worth buying. Everybody has different goals though, I guess.
I have real fears for these Kiwi Adventure 2 buyers, and I realise that I may not be popular with some on this forum because I write this, but my conscience comes before popularity.
Regards,
DelHi Westan & Muppet,
I wonder if these new NZ investors realise that they will be “ripe for the picking” when they all want to come and buy lots of houses in Tokoroa.
“CAVEAT EMPTOR”!!!!!!
It is all about supply and demand.
This trip will AGAIN, make prices soar (temporarily) in Tokoroa.Please spend time NOW getting familiar with prices in the town.
Regards,
DelHi Westan,
Yes I agree with you about buying on 10% yields in this RE market… After taking insurances, maintenance costs, vacancies, etc..etc.. it is definitely NOT cashflow positive anymore on NZ’s interest rates. Many people seem to be ignoring this fact! [buz2]
We would not be buying in NZ at the moment in any town unless the yields are over 12%. Tricky, but not impossible…..You just have to buy well!!!!
Instead, with under 10% yields, I would rather stick to areas of Australia where there are still good regional deals (lots of good commercial ones)… offering 8-9% yields with tenants paying all outgoings, and longterm strong leases…..
Just my 2c worth,
Del
Hi Tim & Jenny,
We were in Tokoroa last week, (we arrived home from NZ about an hour ago) [blink] and there were investors everywhere! I don’t see prices dropping in Tokoroa for a long time – if at all!! We will buy there again when a good deal comes along, unfortunately there wasn’t much for us last week…
All I can add about Tokoroa, is that we have had some EXCELLENT, LONGTERM, SPOTLESS tenants there, and we made some reasonable profits when selling. What more could you ask for? [biggrin]
Go there and judge it for yourself! If you have the money to invest in property, then you have the money to go there and check it out for yourself. It is called DUE DILIGENCE!! [buz2]
Make sure that you do your numbers though and don’t just buy, “hoping” that you will get a capital gain. If the numbers stack up with interest rates at their current rates, then don’t let other people’s ignorance deter you from investing there.
There are a couple of streets in Tokoroa that we wouldn’t buy in, but the majority of the town is as good if not better than a lot of towns in NZ.
Happy investing,
Del
Thanks for the reply Michael!
Will & Del [biggrin]
Hi John,
I suggest that you send an email or PM to “Westan”. He is the forum’s resident US guru, and is going there again very soon.
You can ask to join his US database. He is planning to do some info sessions on United States, in Melb & Sydney soon I think. We are trying to get there, as I think it would be fascinating to learn about US investing.
He is also a very genuine person and a friend of ours! Good luck with the US investing,
Del & Will [biggrin]
Hi Michael,
We have booked for your June workshop, and are very excited about being there!!
However, our question is:
We currently live just outside Melbourne, but we will be shifting to QLD (Hervey Bay area) in December. Will what we learn be able to be applied in QLD, or do rules & regulations relating to development differ a lot from state to state. I’m sure your answer may help others in similar situation also.
Thanks,
Will & Del [biggrin][biggrin]
Congratulations Mark & Ruth,
That’s great news!! [biggrin]
There are some really talented people who frequent this forum!
Best wishes,
DelHi Alaine,
Personally if it were me, the return on this property at Hamilton would not be worth the hassles of investing off shore, ie… you will need NZ Accountants & tax returns etc., possibly a NZ structure, etc..etc… It can all get quite expensive, unless you are looking to buy quite a few properties there.
There are PLENTY of properties in Australia that can return you at least this amount, if not better!
There are heaps better deals in NZ also. My best advice would be – Don’t rush in. Sorry to be a bit of a “wet blanket”, but you did ask for people’s thoughts…
What are you looking for – capital growth, or cashflow? I believe that Hamilton has slowed a lot in the recent months, and the possible capital growth there in the next few years may be minimal. If you really want to invest in NZ, I’d consider some smaller regional towns. They are not all dingy!!!! Some are beautiful places, near the coast. Places like Turangi near Taupo might be able to give you capital growth as well as slightly better cashflow – Just my opinion though…..[blush2]
I am going to NZ in 2 days, and if you like, you can email me if I can be of assistance to you. I could inspect this one for you, or possibly look out for a deal with a better return for you, for a small fee, depending what your goals are.
Regards,
Del
