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  • Profile photo of MiniMogulMiniMogul
    Participant
    @minimogul
    Join Date: 2002
    Post Count: 1,414

    Hi there

    “I know there isn’t any “real standard”, but what is a reasonable fee?”

    At NZ Bird Dogs we charge $2500 for a fee for the cheapies (say up to $150k.) For deals i.e. 250k we might charge $3000-3500 (depends on the deal.) If there is say 45k equity in it then we might charge $3500 for a 255k purchase rather than $3000k. For the million dollar deals we charge 10-20k, again depending on the deal. One such deal we had was 17 percent under valuation so that was a 20k deal. Basically we just made the client 150k even after our fee was taken out, so we always try to find deals that are worth more to the client than the fee!

    Other bird dogs – House Hunters charge about 2k to join the list (our list is free) and then 6k for a deal. This is for Australian deals with stamp duty so you would be up for 10-20k to buy the average deal. Richmastery charge about 1-2k more than us for the same sort of deal.

    >I’m doing by own checks on the properties, and am happy with what I’ve found so far. I am not aware of any of their “qualifications”>

    we don’t have qualifications because you don’t need any qualifications to be an investor, and all our spotters are investors themselves, 5 of our spotters are full time investors. I would never be a full-time investor as such, because I see property as a way to make ‘free money’ passively without having to slave away at it like a full time job, in order to fund and experience life and fulfil one’s dreams, whatever they are! I am making TV shows and doing deals with networks these days and that’s all thanks to property. So if I am passionate about it, it’s because it works. Sure, I renovated with my own hands when I was starting out but these days I just make calls and ‘have it done’. Frees my time for more important stuff like quality of life!

    ” but if I do my own checks (checking the numbers I’ve been given, getting the lease agreements, building inspections, council rates searches) are there any other things I should be wary of?”

    Basically we have done so many deals now (350, 400, lost count!) and helped so many clients through the whole process, plus monitored all the deals for years (just because we keep in touch with our clients) that we have a handle on all aspects of the process, so we basically help the client so they don’t ‘forget’ anything to do with the deal.

    “I have been told that once I sign up with the bird-dog for the property that the sale contract is automatically unconditional. “

    I am sure that some bird dogs do this (shonky!) but we don’t. We sign up conditional contracts and assign them to the client with say 10 days to do until unconditional (confirmation.) In that time we are doing builder’s reports, valuations, getting all the bits to the client’s lender, and then re-negotiating the deal if required. Any problems with the deal miraculously come good when the vendor agrees to fix them by settlement or offer a discount off the purchase price to compensate! We also line up a rental manager who we recommend in each area to take on the property. As you know people move around so our favourite rental manager in any town does change from time to time.

    >I’m a bit unsure because I haven’t seen the contract of sale and I’m not sure of any encumbranc es, etc. Is this common practice, and how do I best protect myself?>

    We provide the contract of sale (this is what we assign the client.) with the deal. As far as understanding the contract, you would use your own solicitor for this. We have a solicitor who we think is the best in NZ and the best priced as well, we use him and a lot of clients do, but you can use whoever you like. The solicitor will do the title searches but this is usually done after the due diligence, towards the end so as not to incur fees. i have never done a deal where there were any title encumbrances so it didn’t proceed. We used to order the title from QV for a few bucks but we stopped bothering because the client couldn’t use the ‘online version’ anyway, the lawyer has to do the ‘proper’ one from the Land Transfer Office. Basically it has never been a problem.

    if you email me at barb at vocalbureau dot com I can email you the information sheet which is 15 pages long and answers all your questions and more.

    >professionals in Dunedin or Christchurch they have used?

    I certainly know all of the people below that you requested or rather our spotters do, however we provide this information to clients and through the deals (i.e. we use this ourselves) as it has value to us. We work with several agents because we do a lot of repeat business. They know our deals go through and so to pass you the name of our real estate agent would either be commercially imprudent for us to do, and also no use because a new person doesn’t have the relationship with the agent. however as our client you get the leverage of all 8 spotters’ combined on the ground real estate relationships with their favourite trusted agents in different locations all over NZ.

    Broker – we use a really good one in Auckland and I only give this contact out to clients so you would have to join the list. To buy a property in Christchurch for instance you don’t need your broker to be in Christchurch.

    >- property managers
    we choose these depending on the deal. A Brighton beach renovated ex state house might be managed by a different agent to a near – new furnished townhouse across the road from the hospital. It is not one-size -fits- all with property managers and our clients benefit from our town-specific knowledge there because our spotters do/oversee/keep tabs on so many rental properties.

    >- settlement agents
    You mean a lawyer. Yes there are two or three lawyers in NZ that I like to work with (prompt, not expensive, great communicators, smart) and many that overcharge, are hopeless/slack. The ones we recommend are the former and when clients decide to use ‘their own solicitor’ we often get the latter. This is not an exaggeration! However this is where we come in and help bridge the gap between the lawyer and the client. We remind/hassle the lawyer if need be, help write letters of negotiation to save the client fees, etc etc!

    >- building inspectors

    with our deals, we always provide a name or names of who we think is best. I.e. $350 you get a full written report with 150 pictures, or for $150 you get a verbal and an invoice! (the client can choose!)
    >- pest inspectors

    In NZ as pests are not like they are in NZ it is not necessary to get a separate one, in fact not at all common, it’s all done as part of the builder’s report.

    cheers –
    Barb

    Feel free to text me your email address to be added to the list. Our website is in between changing to nzbirddogs.com (not up yet but it will be) as we are newly incorporated in NZ now, so just email me as above if you want more info and I can email it to you for now.
    cheers –
    Barb AKA Minimogul

    NZ Bird Dogs – Great deals in NZ, Integrity Guaranteed!
    barb at vocalbureau dot com
    0411383117

    Profile photo of ellnbgnellnbgn
    Member
    @ellnbgn
    Join Date: 2006
    Post Count: 5

    Does a foreign national need to put down a higher cash percentage to get a mortgage in New Zealand?
    Are there special restrictions on foreign nationals buying property in NZ, in general, for example, after reselling the property.

    [mellow]

    Profile photo of rohroh
    Member
    @roh
    Join Date: 2007
    Post Count: 7
    Originally posted by MiniMogul:

    Hi there

    “I know there isn’t any “real standard”, but what is a reasonable fee?”

    At NZ Bird Dogs we charge $2500 for a fee for the cheapies (say up to $150k.) For deals i.e. 250k we might charge $3000-3500 (depends on the deal.) If there is say 45k equity in it then we might charge $3500 for a 255k purchase rather than $3000k. For the million dollar deals we charge 10-20k, again depending on the deal. One such deal we had was 17 percent under valuation so that was a 20k deal. Basically we just made the client 150k even after our fee was taken out, so we always try to find deals that are worth more to the client than the fee!

    Other bird dogs – House Hunters charge about 2k to join the list (our list is free) and then 6k for a deal. This is for Australian deals with stamp duty so you would be up for 10-20k to buy the average deal. Richmastery charge about 1-2k more than us for the same sort of deal.

    >I’m doing by own checks on the properties, and am happy with what I’ve found so far. I am not aware of any of their “qualifications”>

    we don’t have qualifications because you don’t need any qualifications to be an investor, and all our spotters are investors themselves, 5 of our spotters are full time investors. I would never be a full-time investor as such, because I see property as a way to make ‘free money’ passively without having to slave away at it like a full time job, in order to fund and experience life and fulfil one’s dreams, whatever they are! I am making TV shows and doing deals with networks these days and that’s all thanks to property. So if I am passionate about it, it’s because it works. Sure, I renovated with my own hands when I was starting out but these days I just make calls and ‘have it done’. Frees my time for more important stuff like quality of life!

    ” but if I do my own checks (checking the numbers I’ve been given, getting the lease agreements, building inspections, council rates searches) are there any other things I should be wary of?”

    Basically we have done so many deals now (350, 400, lost count!) and helped so many clients through the whole process, plus monitored all the deals for years (just because we keep in touch with our clients) that we have a handle on all aspects of the process, so we basically help the client so they don’t ‘forget’ anything to do with the deal.

    “I have been told that once I sign up with the bird-dog for the property that the sale contract is automatically unconditional. “

    I am sure that some bird dogs do this (shonky!) but we don’t. We sign up conditional contracts and assign them to the client with say 10 days to do until unconditional (confirmation.) In that time we are doing builder’s reports, valuations, getting all the bits to the client’s lender, and then re-negotiating the deal if required. Any problems with the deal miraculously come good when the vendor agrees to fix them by settlement or offer a discount off the purchase price to compensate! We also line up a rental manager who we recommend in each area to take on the property. As you know people move around so our favourite rental manager in any town does change from time to time.

    >I’m a bit unsure because I haven’t seen the contract of sale and I’m not sure of any encumbranc es, etc. Is this common practice, and how do I best protect myself?>

    We provide the contract of sale (this is what we assign the client.) with the deal. As far as understanding the contract, you would use your own solicitor for this. We have a solicitor who we think is the best in NZ and the best priced as well, we use him and a lot of clients do, but you can use whoever you like. The solicitor will do the title searches but this is usually done after the due diligence, towards the end so as not to incur fees. i have never done a deal where there were any title encumbrances so it didn’t proceed. We used to order the title from QV for a few bucks but we stopped bothering because the client couldn’t use the ‘online version’ anyway, the lawyer has to do the ‘proper’ one from the Land Transfer Office. Basically it has never been a problem.

    if you email me at barb at vocalbureau dot com I can email you the information sheet which is 15 pages long and answers all your questions and more.

    >professionals in Dunedin or Christchurch they have used?

    I certainly know all of the people below that you requested or rather our spotters do, however we provide this information to clients and through the deals (i.e. we use this ourselves) as it has value to us. We work with several agents because we do a lot of repeat business. They know our deals go through and so to pass you the name of our real estate agent would either be commercially imprudent for us to do, and also no use because a new person doesn’t have the relationship with the agent. however as our client you get the leverage of all 8 spotters’ combined on the ground real estate relationships with their favourite trusted agents in different locations all over NZ.

    Broker – we use a really good one in Auckland and I only give this contact out to clients so you would have to join the list. To buy a property in Christchurch for instance you don’t need your broker to be in Christchurch.

    >- property managers
    we choose these depending on the deal. A Brighton beach renovated ex state house might be managed by a different agent to a near – new furnished townhouse across the road from the hospital. It is not one-size -fits- all with property managers and our clients benefit from our town-specific knowledge there because our spotters do/oversee/keep tabs on so many rental properties.

    >- settlement agents
    You mean a lawyer. Yes there are two or three lawyers in NZ that I like to work with (prompt, not expensive, great communicators, smart) and many that overcharge, are hopeless/slack. The ones we recommend are the former and when clients decide to use ‘their own solicitor’ we often get the latter. This is not an exaggeration! However this is where we come in and help bridge the gap between the lawyer and the client. We remind/hassle the lawyer if need be, help write letters of negotiation to save the client fees, etc etc!

    >- building inspectors

    with our deals, we always provide a name or names of who we think is best. I.e. $350 you get a full written report with 150 pictures, or for $150 you get a verbal and an invoice! (the client can choose!)
    >- pest inspectors

    In NZ as pests are not like they are in NZ it is not necessary to get a separate one, in fact not at all common, it’s all done as part of the builder’s report.

    cheers –
    Barb

    Feel free to text me your email address to be added to the list. Our website is in between changing to nzbirddogs.com (not up yet but it will be) as we are newly incorporated in NZ now, so just email me as above if you want more info and I can email it to you for now.
    cheers –
    Barb AKA Minimogul

    NZ Bird Dogs – Great deals in NZ, Integrity Guaranteed!
    barb at vocalbureau dot com
    0411383117

    Profile photo of rohroh
    Member
    @roh
    Join Date: 2007
    Post Count: 7
    Originally posted by MiniMogul:

    Hi there

    “I know there isn’t any “real standard”, but what is a reasonable fee?”

    At NZ Bird Dogs we charge $2500 for a fee for the cheapies (say up to $150k.) For deals i.e. 250k we might charge $3000-3500 (depends on the deal.) If there is say 45k equity in it then we might charge $3500 for a 255k purchase rather than $3000k. For the million dollar deals we charge 10-20k, again depending on the deal. One such deal we had was 17 percent under valuation so that was a 20k deal. Basically we just made the client 150k even after our fee was taken out, so we always try to find deals that are worth more to the client than the fee!

    Other bird dogs – House Hunters charge about 2k to join the list (our list is free) and then 6k for a deal. This is for Australian deals with stamp duty so you would be up for 10-20k to buy the average deal. Richmastery charge about 1-2k more than us for the same sort of deal.

    >I’m doing by own checks on the properties, and am happy with what I’ve found so far. I am not aware of any of their “qualifications”>

    we don’t have qualifications because you don’t need any qualifications to be an investor, and all our spotters are investors themselves, 5 of our spotters are full time investors. I would never be a full-time investor as such, because I see property as a way to make ‘free money’ passively without having to slave away at it like a full time job, in order to fund and experience life and fulfil one’s dreams, whatever they are! I am making TV shows and doing deals with networks these days and that’s all thanks to property. So if I am passionate about it, it’s because it works. Sure, I renovated with my own hands when I was starting out but these days I just make calls and ‘have it done’. Frees my time for more important stuff like quality of life!

    ” but if I do my own checks (checking the numbers I’ve been given, getting the lease agreements, building inspections, council rates searches) are there any other things I should be wary of?”

    Basically we have done so many deals now (350, 400, lost count!) and helped so many clients through the whole process, plus monitored all the deals for years (just because we keep in touch with our clients) that we have a handle on all aspects of the process, so we basically help the client so they don’t ‘forget’ anything to do with the deal.

    “I have been told that once I sign up with the bird-dog for the property that the sale contract is automatically unconditional. “

    I am sure that some bird dogs do this (shonky!) but we don’t. We sign up conditional contracts and assign them to the client with say 10 days to do until unconditional (confirmation.) In that time we are doing builder’s reports, valuations, getting all the bits to the client’s lender, and then re-negotiating the deal if required. Any problems with the deal miraculously come good when the vendor agrees to fix them by settlement or offer a discount off the purchase price to compensate! We also line up a rental manager who we recommend in each area to take on the property. As you know people move around so our favourite rental manager in any town does change from time to time.

    >I’m a bit unsure because I haven’t seen the contract of sale and I’m not sure of any encumbranc es, etc. Is this common practice, and how do I best protect myself?>

    We provide the contract of sale (this is what we assign the client.) with the deal. As far as understanding the contract, you would use your own solicitor for this. We have a solicitor who we think is the best in NZ and the best priced as well, we use him and a lot of clients do, but you can use whoever you like. The solicitor will do the title searches but this is usually done after the due diligence, towards the end so as not to incur fees. i have never done a deal where there were any title encumbrances so it didn’t proceed. We used to order the title from QV for a few bucks but we stopped bothering because the client couldn’t use the ‘online version’ anyway, the lawyer has to do the ‘proper’ one from the Land Transfer Office. Basically it has never been a problem.

    if you email me at barb at vocalbureau dot com I can email you the information sheet which is 15 pages long and answers all your questions and more.

    >professionals in Dunedin or Christchurch they have used?

    I certainly know all of the people below that you requested or rather our spotters do, however we provide this information to clients and through the deals (i.e. we use this ourselves) as it has value to us. We work with several agents because we do a lot of repeat business. They know our deals go through and so to pass you the name of our real estate agent would either be commercially imprudent for us to do, and also no use because a new person doesn’t have the relationship with the agent. however as our client you get the leverage of all 8 spotters’ combined on the ground real estate relationships with their favourite trusted agents in different locations all over NZ.

    Broker – we use a really good one in Auckland and I only give this contact out to clients so you would have to join the list. To buy a property in Christchurch for instance you don’t need your broker to be in Christchurch.

    >- property managers
    we choose these depending on the deal. A Brighton beach renovated ex state house might be managed by a different agent to a near – new furnished townhouse across the road from the hospital. It is not one-size -fits- all with property managers and our clients benefit from our town-specific knowledge there because our spotters do/oversee/keep tabs on so many rental properties.

    >- settlement agents
    You mean a lawyer. Yes there are two or three lawyers in NZ that I like to work with (prompt, not expensive, great communicators, smart) and many that overcharge, are hopeless/slack. The ones we recommend are the former and when clients decide to use ‘their own solicitor’ we often get the latter. This is not an exaggeration! However this is where we come in and help bridge the gap between the lawyer and the client. We remind/hassle the lawyer if need be, help write letters of negotiation to save the client fees, etc etc!

    >- building inspectors

    with our deals, we always provide a name or names of who we think is best. I.e. $350 you get a full written report with 150 pictures, or for $150 you get a verbal and an invoice! (the client can choose!)
    >- pest inspectors

    In NZ as pests are not like they are in NZ it is not necessary to get a separate one, in fact not at all common, it’s all done as part of the builder’s report.

    cheers –
    Barb

    Feel free to text me your email address to be added to the list. Our website is in between changing to nzbirddogs.com (not up yet but it will be) as we are newly incorporated in NZ now, so just email me as above if you want more info and I can email it to you for now.
    cheers –
    Barb AKA Minimogul

    NZ Bird Dogs – Great deals in NZ, Integrity Guaranteed!
    barb at vocalbureau dot com
    0411383117

    Profile photo of rohroh
    Member
    @roh
    Join Date: 2007
    Post Count: 7
    Originally posted by MiniMogul:

    Hi there

    “I know there isn’t any “real standard”, but what is a reasonable fee?”

    At NZ Bird Dogs we charge $2500 for a fee for the cheapies (say up to $150k.) For deals i.e. 250k we might charge $3000-3500 (depends on the deal.) If there is say 45k equity in it then we might charge $3500 for a 255k purchase rather than $3000k. For the million dollar deals we charge 10-20k, again depending on the deal. One such deal we had was 17 percent under valuation so that was a 20k deal. Basically we just made the client 150k even after our fee was taken out, so we always try to find deals that are worth more to the client than the fee!

    Other bird dogs – House Hunters charge about 2k to join the list (our list is free) and then 6k for a deal. This is for Australian deals with stamp duty so you would be up for 10-20k to buy the average deal. Richmastery charge about 1-2k more than us for the same sort of deal.

    >I’m doing by own checks on the properties, and am happy with what I’ve found so far. I am not aware of any of their “qualifications”>

    we don’t have qualifications because you don’t need any qualifications to be an investor, and all our spotters are investors themselves, 5 of our spotters are full time investors. I would never be a full-time investor as such, because I see property as a way to make ‘free money’ passively without having to slave away at it like a full time job, in order to fund and experience life and fulfil one’s dreams, whatever they are! I am making TV shows and doing deals with networks these days and that’s all thanks to property. So if I am passionate about it, it’s because it works. Sure, I renovated with my own hands when I was starting out but these days I just make calls and ‘have it done’. Frees my time for more important stuff like quality of life!

    ” but if I do my own checks (checking the numbers I’ve been given, getting the lease agreements, building inspections, council rates searches) are there any other things I should be wary of?”

    Basically we have done so many deals now (350, 400, lost count!) and helped so many clients through the whole process, plus monitored all the deals for years (just because we keep in touch with our clients) that we have a handle on all aspects of the process, so we basically help the client so they don’t ‘forget’ anything to do with the deal.

    “I have been told that once I sign up with the bird-dog for the property that the sale contract is automatically unconditional. “

    I am sure that some bird dogs do this (shonky!) but we don’t. We sign up conditional contracts and assign them to the client with say 10 days to do until unconditional (confirmation.) In that time we are doing builder’s reports, valuations, getting all the bits to the client’s lender, and then re-negotiating the deal if required. Any problems with the deal miraculously come good when the vendor agrees to fix them by settlement or offer a discount off the purchase price to compensate! We also line up a rental manager who we recommend in each area to take on the property. As you know people move around so our favourite rental manager in any town does change from time to time.

    >I’m a bit unsure because I haven’t seen the contract of sale and I’m not sure of any encumbranc es, etc. Is this common practice, and how do I best protect myself?>

    We provide the contract of sale (this is what we assign the client.) with the deal. As far as understanding the contract, you would use your own solicitor for this. We have a solicitor who we think is the best in NZ and the best priced as well, we use him and a lot of clients do, but you can use whoever you like. The solicitor will do the title searches but this is usually done after the due diligence, towards the end so as not to incur fees. i have never done a deal where there were any title encumbrances so it didn’t proceed. We used to order the title from QV for a few bucks but we stopped bothering because the client couldn’t use the ‘online version’ anyway, the lawyer has to do the ‘proper’ one from the Land Transfer Office. Basically it has never been a problem.

    if you email me at barb at vocalbureau dot com I can email you the information sheet which is 15 pages long and answers all your questions and more.

    >professionals in Dunedin or Christchurch they have used?

    I certainly know all of the people below that you requested or rather our spotters do, however we provide this information to clients and through the deals (i.e. we use this ourselves) as it has value to us. We work with several agents because we do a lot of repeat business. They know our deals go through and so to pass you the name of our real estate agent would either be commercially imprudent for us to do, and also no use because a new person doesn’t have the relationship with the agent. however as our client you get the leverage of all 8 spotters’ combined on the ground real estate relationships with their favourite trusted agents in different locations all over NZ.

    Broker – we use a really good one in Auckland and I only give this contact out to clients so you would have to join the list. To buy a property in Christchurch for instance you don’t need your broker to be in Christchurch.

    >- property managers
    we choose these depending on the deal. A Brighton beach renovated ex state house might be managed by a different agent to a near – new furnished townhouse across the road from the hospital. It is not one-size -fits- all with property managers and our clients benefit from our town-specific knowledge there because our spotters do/oversee/keep tabs on so many rental properties.

    >- settlement agents
    You mean a lawyer. Yes there are two or three lawyers in NZ that I like to work with (prompt, not expensive, great communicators, smart) and many that overcharge, are hopeless/slack. The ones we recommend are the former and when clients decide to use ‘their own solicitor’ we often get the latter. This is not an exaggeration! However this is where we come in and help bridge the gap between the lawyer and the client. We remind/hassle the lawyer if need be, help write letters of negotiation to save the client fees, etc etc!

    >- building inspectors

    with our deals, we always provide a name or names of who we think is best. I.e. $350 you get a full written report with 150 pictures, or for $150 you get a verbal and an invoice! (the client can choose!)
    >- pest inspectors

    In NZ as pests are not like they are in NZ it is not necessary to get a separate one, in fact not at all common, it’s all done as part of the builder’s report.

    cheers –
    Barb

    Feel free to text me your email address to be added to the list. Our website is in between changing to nzbirddogs.com (not up yet but it will be) as we are newly incorporated in NZ now, so just email me as above if you want more info and I can email it to you for now.
    cheers –
    Barb AKA Minimogul

    NZ Bird Dogs – Great deals in NZ, Integrity Guaranteed!
    barb at vocalbureau dot com
    0411383117

    Profile photo of rohroh
    Member
    @roh
    Join Date: 2007
    Post Count: 7
    Originally posted by MiniMogul:

    Hi there

    “I know there isn’t any “real standard”, but what is a reasonable fee?”

    At NZ Bird Dogs we charge $2500 for a fee for the cheapies (say up to $150k.) For deals i.e. 250k we might charge $3000-3500 (depends on the deal.) If there is say 45k equity in it then we might charge $3500 for a 255k purchase rather than $3000k. For the million dollar deals we charge 10-20k, again depending on the deal. One such deal we had was 17 percent under valuation so that was a 20k deal. Basically we just made the client 150k even after our fee was taken out, so we always try to find deals that are worth more to the client than the fee!

    Other bird dogs – House Hunters charge about 2k to join the list (our list is free) and then 6k for a deal. This is for Australian deals with stamp duty so you would be up for 10-20k to buy the average deal. Richmastery charge about 1-2k more than us for the same sort of deal.

    >I’m doing by own checks on the properties, and am happy with what I’ve found so far. I am not aware of any of their “qualifications”>

    we don’t have qualifications because you don’t need any qualifications to be an investor, and all our spotters are investors themselves, 5 of our spotters are full time investors. I would never be a full-time investor as such, because I see property as a way to make ‘free money’ passively without having to slave away at it like a full time job, in order to fund and experience life and fulfil one’s dreams, whatever they are! I am making TV shows and doing deals with networks these days and that’s all thanks to property. So if I am passionate about it, it’s because it works. Sure, I renovated with my own hands when I was starting out but these days I just make calls and ‘have it done’. Frees my time for more important stuff like quality of life!

    ” but if I do my own checks (checking the numbers I’ve been given, getting the lease agreements, building inspections, council rates searches) are there any other things I should be wary of?”

    Basically we have done so many deals now (350, 400, lost count!) and helped so many clients through the whole process, plus monitored all the deals for years (just because we keep in touch with our clients) that we have a handle on all aspects of the process, so we basically help the client so they don’t ‘forget’ anything to do with the deal.

    “I have been told that once I sign up with the bird-dog for the property that the sale contract is automatically unconditional. “

    I am sure that some bird dogs do this (shonky!) but we don’t. We sign up conditional contracts and assign them to the client with say 10 days to do until unconditional (confirmation.) In that time we are doing builder’s reports, valuations, getting all the bits to the client’s lender, and then re-negotiating the deal if required. Any problems with the deal miraculously come good when the vendor agrees to fix them by settlement or offer a discount off the purchase price to compensate! We also line up a rental manager who we recommend in each area to take on the property. As you know people move around so our favourite rental manager in any town does change from time to time.

    >I’m a bit unsure because I haven’t seen the contract of sale and I’m not sure of any encumbranc es, etc. Is this common practice, and how do I best protect myself?>

    We provide the contract of sale (this is what we assign the client.) with the deal. As far as understanding the contract, you would use your own solicitor for this. We have a solicitor who we think is the best in NZ and the best priced as well, we use him and a lot of clients do, but you can use whoever you like. The solicitor will do the title searches but this is usually done after the due diligence, towards the end so as not to incur fees. i have never done a deal where there were any title encumbrances so it didn’t proceed. We used to order the title from QV for a few bucks but we stopped bothering because the client couldn’t use the ‘online version’ anyway, the lawyer has to do the ‘proper’ one from the Land Transfer Office. Basically it has never been a problem.

    if you email me at barb at vocalbureau dot com I can email you the information sheet which is 15 pages long and answers all your questions and more.

    >professionals in Dunedin or Christchurch they have used?

    I certainly know all of the people below that you requested or rather our spotters do, however we provide this information to clients and through the deals (i.e. we use this ourselves) as it has value to us. We work with several agents because we do a lot of repeat business. They know our deals go through and so to pass you the name of our real estate agent would either be commercially imprudent for us to do, and also no use because a new person doesn’t have the relationship with the agent. however as our client you get the leverage of all 8 spotters’ combined on the ground real estate relationships with their favourite trusted agents in different locations all over NZ.

    Broker – we use a really good one in Auckland and I only give this contact out to clients so you would have to join the list. To buy a property in Christchurch for instance you don’t need your broker to be in Christchurch.

    >- property managers
    we choose these depending on the deal. A Brighton beach renovated ex state house might be managed by a different agent to a near – new furnished townhouse across the road from the hospital. It is not one-size -fits- all with property managers and our clients benefit from our town-specific knowledge there because our spotters do/oversee/keep tabs on so many rental properties.

    >- settlement agents
    You mean a lawyer. Yes there are two or three lawyers in NZ that I like to work with (prompt, not expensive, great communicators, smart) and many that overcharge, are hopeless/slack. The ones we recommend are the former and when clients decide to use ‘their own solicitor’ we often get the latter. This is not an exaggeration! However this is where we come in and help bridge the gap between the lawyer and the client. We remind/hassle the lawyer if need be, help write letters of negotiation to save the client fees, etc etc!

    >- building inspectors

    with our deals, we always provide a name or names of who we think is best. I.e. $350 you get a full written report with 150 pictures, or for $150 you get a verbal and an invoice! (the client can choose!)
    >- pest inspectors

    In NZ as pests are not like they are in NZ it is not necessary to get a separate one, in fact not at all common, it’s all done as part of the builder’s report.

    cheers –
    Barb

    Feel free to text me your email address to be added to the list. Our website is in between changing to nzbirddogs.com (not up yet but it will be) as we are newly incorporated in NZ now, so just email me as above if you want more info and I can email it to you for now.
    cheers –
    Barb AKA Minimogul

    NZ Bird Dogs – Great deals in NZ, Integrity Guaranteed!
    barb at vocalbureau dot com
    0411383117

    Profile photo of PursefattenerPursefattener
    Member
    @pursefattener
    Join Date: 2004
    Post Count: 217

    What has happened to MiniMogul ?

    Profile photo of jamiedellamjamiedellam
    Participant
    @jamiedellam
    Join Date: 2004
    Post Count: 36

    this is my plan
    i have about 450k after i sell my house. I have a bussiness loan for $240k which is seperate………….
    I want to invest my 450k into property returning 7.5% thus i can make the property cashflow positive by putting down a 25% deposit for each one. So i should be able to purchase 1.8 million of property without having to make a payment.
    How does this sound? I am the only one of me and my friends/ family who agrees/understands this plan
    I currently own and live in a nice house in atwell waters but i want to sell to to finance the above plan.
    From my research i think the best places to purchase quality property returning 7.5% plus would be in new zealand. Although i am not sure where, i defiently will travel there late this year/ early next year to see suburbs for my self. Any information or advice anyone could offer would be greatly appreciated

    Profile photo of how2how2
    Member
    @how2
    Join Date: 2007
    Post Count: 5

    Hiya

    I am new to this forum – If you want some other inside info on NZ – we are NZ leaders in developing in NZ

    thats the advert – so where can I buy land in Gold Coast, we want to build over there

    Profile photo of Robert GavinRobert Gavin
    Member
    @robert-gavin
    Join Date: 2008
    Post Count: 10

    Hi

    We have some investors who might be interested,

    Can you pelase add our general business email to the list and we can pass them onto our investors who might be interested?

    [email protected]rtyhorizons.co.uk

    Thanks!

    Profile photo of Kiwi-FullaKiwi-Fulla
    Member
    @kiwi-fulla
    Join Date: 2002
    Post Count: 371

    Hey All …. have not been on here for a wee while….. Are you allowed to post New Zealand caveat emptor deals here or only on PT in NZ?

    If not ….. anyone that is interested in some very attractive discounts….. (we have one under contract for $225,000 below GV with an 8.48% Gross Yeild)…. then drop me a line!!!!!
    Cheers
    Kiwi.

    Profile photo of RobertAllenStudentRobertAllenStudent
    Member
    @robertallenstudent
    Join Date: 2009
    Post Count: 5

    New to this forum myself but will be in NZ some time later this year.

    I have my eye on a house set on 5 acres. My problem.

    (1) I wish to purchase the property but have no deposit.
    (2) I wish to invest financially in the properties ability to make money, i.e. stock, fish etc.
    (3) The owner is prepared to carry back a second mortgage.
    (4) What is the maximum loan I can get as a first mortgage that is asset only secured?

    Any help appreciated

    Cheers

    Profile photo of angelodeleon808angelodeleon808
    Participant
    @angelodeleon808
    Join Date: 2009
    Post Count: 9

    There are no reasonable for me, reasonable prices are just for people who are trying to budget cash. People who are financially free, mostly don't look at the prices.

    Profile photo of kylermricekylermrice
    Participant
    @kylermrice
    Join Date: 2011
    Post Count: 314

    Hello all

    I was under the impression that this was a forum for over seas investments. What is the regard on opportunities in the united states?

    Profile photo of Alex SCAlex SC
    Participant
    @alex-sc
    Join Date: 2011
    Post Count: 585
    kylermrice wrote:
    Hello all I was under the impression that this was a forum for over seas investments. What is the regard on opportunities in the united states?

    Everything here is and seems to be about USA ..Not sure what the other post are here for..Was actually just browsing them my self

    Alex

    Profile photo of kylermricekylermrice
    Participant
    @kylermrice
    Join Date: 2011
    Post Count: 314

    Thanks Alex,

    Was one of my old posts when i first started using these forums

    Profile photo of M.InvestigatorM.Investigator
    Member
    @m.investigator
    Join Date: 2012
    Post Count: 134

    Property investing is a risk if you don’t know the right property that has the market potential. I agree that investors should seek professional advice before buying a property. Legal advice for the content and legalities of the contract. As to the market potential of the property, here are some basic tips that you might consider helpful :

    http://www.yourinvestmentpropertymag.com.au/article/6-steps-to-a-profitable-property-investment-84099.aspx

    Profile photo of Ziv Nakajima-MagenZiv Nakajima-Magen
    Participant
    @zmagen
    Join Date: 2012
    Post Count: 522

    A very simplified view or, in other words, just one of the ways to skin a cat. There are many who would contest some of the "tips" therein, in particular the refinance and speculation oriented ones.

    Ziv Nakajima-Magen | Nippon Tradings International (NTI)
    http://www.nippontradings.com
    Email Me | Phone Me

    Ziv Nakajima-Magen - Partner & Executive Manager, Asia-Pacific @ NTI - Japan Real-Estate Investment Property

    Profile photo of Ephraem1Ephraem1
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    @ephraem1
    Join Date: 2012
    Post Count: 17

    @kylermrice: I've been to a couple of USA investment seminars and found the returns quite promising since there is some good capital growth potential (long term), good rental returns (usually at least 8% net) and the aussie dollar is unusually strong which gives you a lot of purchasing power right now and should the Au$ fall in the future and you sell one of your usa properties, you'll make a lot of money. having said that I also agree that it is important to seek independent advice and to keep in mind that there are risks. Hope that helps.

    Profile photo of Ziv Nakajima-MagenZiv Nakajima-Magen
    Participant
    @zmagen
    Join Date: 2012
    Post Count: 522
    Ephraem1 wrote:
    the aussie dollar is unusually strong which gives you a lot of purchasing power right now and should the Au$ fall in the future and you sell one of your usa properties, you'll make a lot of money.

    yup, that's one of the perks of international investments, play them right and there are great dividends to be made on the side from exchange rate fluctuations- but only if you've got spares set aside and are not panicking to get your funds across at last minute cut-throat rates. Otherwise those fluctuations can hurt as hell too. It's all in the planning.

    Ziv Nakajima-Magen | Nippon Tradings International (NTI)
    http://www.nippontradings.com
    Email Me | Phone Me

    Ziv Nakajima-Magen - Partner & Executive Manager, Asia-Pacific @ NTI - Japan Real-Estate Investment Property

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