what to do?

Can someone PLEASE! tell me what the [baaa] sign means?????????????? Is it anything to do with sheep or am I in the wrong flock??

Redhaven

Funnily enough that thought also crossed my mind. I have to wonder if this question ” Can some one tell me what the [baaa] sign means?” should be posted in the Kiwi Forum?? Baaaaaaa Baaaaaaa!!

GGG

If I were you I would grab that beachside property with both hands!!

work hard. save pay. invest but spend time before parting with hard earned money.

Alternatively you can spend all your time chasing the “next big thing”.

[laughing][laughing][laughing][laughing][laughing]

Kerwyn, agree with your sentiments, but not sure about this

.

You do need to find your niche, however successful reno’s IMO are not necessarily things to start off with. From the sounds of nowork’s original post, he/she is still learning.

Of course there will be opportunities to find the diamond in the rough, however, making any significant gain in the short term from renovating most properties is optimistic.

No work…I agree with the posts saying that you basically need to educate yourself as much as possible, acquire knowledge and mmost importantly be postitioned to act! Now that you know this is what you want to do it would really annoy you if you saw a top opportunity only to have it slip by because you were not “positioned” to leap on the opportunity.

I do renovations myself, but I do pretty much all of the work myself and have networked my backside off and continue to do so. I will be employing someone towards the end of the year to work on the houses whilst I continue the adventure into the abyss of property opportunity.

It also depends a lot upon whether you are chasing cash flow or capital growth? or getting both is also great.

Best of luck.

oh, gand….that[baaa] thing. I’m thinking possibly something between a dderrrrrr and an uuummmmmm? as in bbbbaaaaaaaa, i dunno?!

hehe, maybe? sorry, off topic.

J.

Nowork, to gain equity, someone must add this equity to your property. Yourself with renovations or additions or timing by buying under market value, or the market through added demand.

All the strategies come down to this few scenarios. It depends on where do you want to invest, your budget and how flexible you are in changing strategies. In real estate it is all about being ahead of the rest. What works for you today, may stop working if a few hundred people do the same. Astute investors start a trend and get out of it when big numbers start doing the same, only to start yet another trend that will be copied by the majority of late arrivers.

I suggest that you do a lot of research, read books and learn to read the market. Don’t expect anyone to convince you about a good investment strategy.

Sorry to hear about your grandfathers losing the pension. The money from the sale will still prevent him from getting a pension only he will now be able to invest it and hopefully have a decent return.

Beachside properties are always in demand but unless they are in a major city, they are a real dog to rent for more than 10 or 15 weeks at best in the year.

May God Prosper you.[biggrin]
Marc
http://www.chosen4u.com/?ace

I have a great idea for you though, it is a way you can maybe help your grandfather win/win!!!!!!

Lets say you paid for a valuation on the property. let’s say it is worth 200k. (no idea, just picking a number.)

Then you go to the bank. And get a line of credit on the property. Let’s say 30k. Don’t go nuts to begin with otherwise it will be too tempting.Your grandfather can draw down his weekly expenses (say he draws down 500 a week, that’s 26000. Now here’s where you come in, you pay the interest. So let’s say it’s 10 percent interest (might be less, but easier to calculate), then your grandfather could draw down say 40k over a year and a half or so and by then that would cost you, ah, say 4k a year. i.e. 76 bucks a week. But you wouldn’t be paying that much interest upfront I don’t think because I think you only pay interest as you draw it. Ask Simon or one of the resident forumite helpful brokers for a chat about it. So he gets $500 a week and it costs you $100 a week max for the first year or two. but it’s bought you time. it’s like a reverse mortgage (your grandfather’s other option) but i think this is a much better option. instead of the bank gradually eating his property, you gradually buy it. Now HOPEFULLY the property will also go up in value, even if slowly for a bit, and you will help your grandfather earn his debt back again in capital gains, plus you will be able to BUY TIME to think and plan if you want this property down the track. I figure this scheme should give you at least a couple of years or 5 to figure it out! let’s say he has 100 or 200 equity.

You like?

email me if you want, there’s more to it, but I am tired of typing

Hey – you know, does your grandfather live in the beach shack or could you rent it out? let’s say you could rent it out, your grandfather could make say 200 a week and still draw down the line of credit, 500 a week, and bank the rent right back in to the line of credit. perhaps this might even be self-perpetuating (CF+ve) on the interest, for quite a while, and by the time it was not (2 years until your grandfather is spending faster than the rent is coming in) then you can still carry on a few years by you chipping in the shortfall. perhaps the equity your grandfather had made would make up for things!

Now you need a good and ethical broker here to set this up not just the one who wants the bigger commission and will talk you in to a reverse mortgage.