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Type: Posts; User: Damap

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  1. NRWT is just to make sure they get something it...

    NRWT is just to make sure they get something it is nothing to do with their tax rate. It is factored in to their tax returns. That's the whole point of the new rules to get more of the tax they...
  2. and foreigners........

    and foreigners........
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    There are no cons. The benefits you get from...

    There are no cons. The benefits you get from government and the lac k of accountability over what you actually do make it a license to print money. It is becoming a rort because it can't be managed...
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    Like ^^^^ And its ALWAYS relevant. Gives you...

    Like ^^^^
    And its ALWAYS relevant. Gives you options many people never have.
  5. Unfortunately the bad areas are pretty entrenched...

    Unfortunately the bad areas are pretty entrenched in Pkura. There is always demand, even gang members need somewhere to live. This is a good example of building decent houses won't fix a bad area....
  6. You can't compare USA and NZ. I have lived there,...

    You can't compare USA and NZ. I have lived there, they are crazy.
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    Oh yes you are quite right Speights. You take the...

    Oh yes you are quite right Speights. You take the risk you have to live with the results I agree.
  8. Replies
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    To be fair Speights it is difficult to sometimes...

    To be fair Speights it is difficult to sometimes know what to do. Being aggressive makes some people rich if it goes well. It cost me everything but given what I knew then I would probably have done...
  9. Yes the whole thing was to share the info to nail...

    Yes the whole thing was to share the info to nail down the tax side.
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    History would say that just isn;t so. A high...

    History would say that just isn;t so. A high growth market with lowering yields doesn't slow down. Look at Melbourne and Sydney for example. We will just eventually end up at 2% yield and sky high...
  11. It's to stop laundering, the bank account is just...

    It's to stop laundering, the bank account is just as important as the number.
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    Rents won't keep pace with growth maybe but...

    Rents won't keep pace with growth maybe but untenantable?

    http://www.memrise.com/s3_proxy/?f=uploads/mems/4759220000130916050415.png
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    Poll: Don't buy an apartment buy a unit :-)

    Don't buy an apartment buy a unit :-)
  14. Thread: Otara Investment

    by Damap
    Replies
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    627

    Not all of Auckland is the same. Those bottom...

    Not all of Auckland is the same. Those bottom feeder areas get hammered in a bust. I used to have a lot in MAngere, Otara, Manurewa, would never go there again. Buy in the best areas you can so that...
  15. Thread: Otara Investment

    by Damap
    Replies
    16
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    627

    Buying in there in a boom is dangerous. It will...

    Buying in there in a boom is dangerous. It will collapse next bust unlike better parts of Auckland.
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    Yes totally right Speights. Once you know what...

    Yes totally right Speights. Once you know what they don't like there is the odd deal but few and far between. i have walked away from 6 deals in the last week alone the prices just got crazy.
    I...
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    I didn't mean Ron specifically and volume of...

    I didn't mean Ron specifically and volume of income is irrelevant.

    When I had 52 doors I was generating $16,000 a week in rental income but I had over 17K a week in interest payments.
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    In fact builders have no margin in here now. They...

    In fact builders have no margin in here now. They are relying 100% on 15% growth in value while they build. If they don't pay the money they have no work so some will get caught in a slow down big...
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    That is a Michael Yardney strategy based on your...

    That is a Michael Yardney strategy based on your borrowing being less than the growth of your portfolio. Worked great until the GFC :-(
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    Yay more rental income. The big question is do...

    Yay more rental income. The big question is do you add 15 or 30% margin on top of the actual cost I guess.
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    OK so it was rhetorical. The answer is it would...

    OK so it was rhetorical. The answer is it would be awesome, but impossible also right now. You will pay absolute minimum 400K per site undeveloped. So if it was 3 sites possible it will be at least...
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    PM'd you Gary, tell me more.

    PM'd you Gary, tell me more.
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    In fact you want to build bread and butter stock...

    In fact you want to build bread and butter stock that will be in demand regardless. This would usually mean good flow, large rooms, good insulation, decent kitchen/bathroom the usual mum and pop...
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    There is very little if any risk in buying...

    There is very little if any risk in buying quality in Auckland providing you buy under the median. Any "correction" is likely to be nominal. I wouldn't buy Gary's property because the income is too...
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    You are missing the Chinese culture Orkibi...

    You are missing the Chinese culture Orkibi completely.
    They don;t really care what they pay. They will sit on the house, maybe rent it maybe not, and their kids will benefit. When you have grown up...
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