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  • Mmmm - well 7 self funding properties in Auckland is a good achievement, if that is indeed the case.

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    • Originally posted by SwissKiwi View Post
      Mmmm - well 7 self funding properties in Auckland is a good achievement, if that is indeed the case.
      Its actualy quite easy, if you structure it smart, does take a bit of forward planning.
      You just keep on getting valuations on the new ones you did cheap reno's on, take that to the bank get the additional funds put into a R/C account, use those funds as the deposit for the next.
      Try to get the banks to finance 90% or 85% of each new RV.

      Even reno costs, interest costs, etc can come out of the new equity you have created.

      Just dont loose 250k like I did on something stupid with the council and you can keep on going.

      Dont make a wrong move and step on a wrong square, a bit like snakes and ladders is property.

      Ron's help to stay off those snake steps is probably worth the 5k to 10k mentoring fee.

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      • Originally posted by SwissKiwi View Post
        You've bought all those quite recently with Rons guidance is that right?

        You are buying and holding them all or?
        Yes, all 7 bought over 2 years and 3 months after joining Ron's coaching programme. Actually I have bought 9 over the period, but I won't go there.

        4 units in Mt Wellington, 1 unit Mt Albert, 1 unit in Mt Eden, 1 townhouse in Te Atatu Peninsula.

        All positive cashflow, lowest gross yield (52 weeks) 6.25%, highest 9.6%. (Yes I use 52 weeks to calculate because I manage them all and only a total of 7 day vacancies over last 2 years, and over 11 tenancies).

        Net income 36k per year.

        Using 5 banks and almost 2mil in debt =)
        Last edited by NovInvestor; 20-09-2012, 02:52 PM.

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        • it's 15k coaching fee now, but old students like me can still come back on my 2nd and 3rd year etc for free, it's still a good networking opportunity even without needing Ron's help anymore.

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          • Well done NovInvestor. I hope it continues to work out for you. Just don't get ahead of yourself like some that have failed and you will do well - interest rates can change and make a 6.25% return difficult. But it sounds like you have some margin and 7 properties in 2 years is hardly going silly.

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            • Originally posted by NovInvestor View Post
              it's 15k coaching fee now, but old students like me can still come back on my 2nd and 3rd year etc for free, it's still a good networking opportunity even without needing Ron's help anymore.
              I met up with Ron and would have done it, except it was one night a week and with a young family it was just one night too many.
              In hindsight I should have done it, especially when Ron said I could join for just 5k.
              I think its probably worth the money just to get in the know on all the cheap ways of renovating and high value tradesmen you guys have lined up over the years.

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              • Originally posted by Wayne View Post
                Well done NovInvestor. I hope it continues to work out for you. Just don't get ahead of yourself like some that have failed and you will do well - interest rates can change and make a 6.25% return difficult. But it sounds like you have some margin and 7 properties in 2 years is hardly going silly.
                Well we could have bought more, but things got easy and life distractions came... like our parents moving to New Zealand etc.

                But we are happy with our progress.

                Yes I am aware of the interest rates, but hey if you over calculate, you stop buying or making decisive decisions.

                Ultimately we want something like 10 properties paid off, and live off that passive income handsomely!

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                • Originally posted by Bluekiwi View Post
                  I met up with Ron and would have done it, except it was one night a week and with a young family it was just one night too many.
                  In hindsight I should have done it, especially when Ron said I could join for just 5k.
                  I think its probably worth the money just to get in the know on all the cheap ways of renovating and high value tradesmen you guys have lined up over the years.
                  I paid 10k for mine you lucky/unlucky thing... Ron's programme is well worth it, since every student joined have bought at least 1 property, so Ron does ensure all his students achieve success.

                  One thing I am concerned for Ron is that he should not accept any students in a year or 2's time like 2014-15, as market will be at the peak, and deliver results to students will be much harder!

                  High value tradesmen? lol there is no such thing! Not now! they are all damn busy!

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                  • Good to see the kudos for Ron. He's been the target
                    of quite a lot of critique, hereabouts, over the years.
                    PT is certainly a valuable networking resource, even
                    if it is sometimes a bit trying and tortuous!
                    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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                    • I dont know why on earth anyone would target him.
                      He has done very well himself and done very well for a lot of people.
                      And he genuinely likes to help as well.

                      Only thing I can fault him for is trying to predict the market and getting it horribly wrong.
                      In his DVD series he did ages ago, he quoted some market prediction he thought were obvious, and he was badly wrong.

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                      • Originally posted by Perry View Post
                        Good to see the kudos for Ron. He's been the target
                        of quite a lot of critique, hereabouts, over the years.
                        PT is certainly a valuable networking resource, even
                        if it is sometimes a bit trying and tortuous!
                        A lot of people don't give Ron enough credit for what he has done for himself, as well as for others, hence he hasn't bothered to pop in PT to share anymore.

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                        • Originally posted by Bluekiwi View Post
                          I dont know why on earth anyone would target him.
                          He has done very well himself and done very well for a lot of people.
                          And he genuinely likes to help as well.

                          Only thing I can fault him for is trying to predict the market and getting it horribly wrong.
                          In his DVD series he did ages ago, he quoted some market prediction he thought were obvious, and he was badly wrong.
                          No one can predict the future, but what did he actualy make claim that was wrong?

                          Some thought Olly Newland was wrong in 2006, but I think that's a good alarming call to start planning to sell/refinance things anyways, which I thought was a good call regardless.

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                          • Those 'into' predictions might
                            enjoy browsing backwards,
                            through this PT thread.
                            Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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                            • Westpac Seeks Long-term Borrowers

                              Richard Meadows
                              20/09/2012

                              Westpac is going against the grain by trying to encourage customers to lock in to longer-term fixed mortgage rates.

                              The interest rate battles amongst the banks have mostly been fought in the shorter six-month to two-year terms,
                              which are by far the most popular with home owners.
                              Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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                              • NovInvestor - I'm interested to know what was attracted you to a property with a 6.25% yield?
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