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  • I ain't gonna wait for the world to save me.

    There are plenty of people sitting in the sidelines hoping for all the stars to line up before they invest.

    Good luck to them.

    In the mean time, I will do what I have to do.

    Comment


    • Originally posted by NovInvestor View Post
      I ain't gonna wait for the world to save me.

      There are plenty of people sitting in the sidelines hoping for all the stars to line up before they invest.

      Good luck to them.

      In the mean time, I will do what I have to do.
      If property talk had a "like" button, I would "like" this.

      Comment


      • You put in such a manner NovInv, I like your style.

        Yep now is the time to go for it, if you are a keen investor, the stars and ducks are all lined up.

        It will take something BIG to dent the demand for auckland property, and they have all but stopped making any more.

        Japan had its miracle boom, exported a lot of stuff the world stopped buying, we make food and unless the world stops growing, china and india's middle class stops growing, NZ till tinker along.

        But if something does come along, I have decided I want cash flow positive properties, so if capital gains dont happen I should still do okay.
        If something BIG happens and house prices drop more than 20% and interest rates rise about my 8.5% average yield, and I cant do 2 flips a year to make 60k, and I loose my health and job and couldnt put my own money into the prooperties (as a last resort I might add), and I couldnt quit them in time to avoid negative equity, and the banks call me in - then thats me down and out.

        But thats a lot of if's.............

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        • And I stayed away from the council Natzi's

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          • NZ will be fine as long as we pump out all that milk powder and timber =)

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            • Its sitting on the beaches in Tauranga :P

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              • Originally posted by Bluekiwi View Post
                You put in such a manner NovInv, I like your style.

                Yep now is the time to go for it, if you are a keen investor, the stars and ducks are all lined up.

                It will take something BIG to dent the demand for auckland property, and they have all but stopped making any more.

                Japan had its miracle boom, exported a lot of stuff the world stopped buying, we make food and unless the world stops growing, china and india's middle class stops growing, NZ till tinker along.

                But if something does come along, I have decided I want cash flow positive properties, so if capital gains dont happen I should still do okay.
                If something BIG happens and house prices drop more than 20% and interest rates rise about my 8.5% average yield, and I cant do 2 flips a year to make 60k, and I loose my health and job and couldnt put my own money into the prooperties (as a last resort I might add), and I couldnt quit them in time to avoid negative equity, and the banks call me in - then thats me down and out.

                But thats a lot of if's.............
                Have to agree all the ducks are lined up for Auckland Real Estate.

                Even if the world economy fell aprt the government still has a VERY POWERFUL tool in the toolbox it could pull out. That is immigration. there are millions of citizens around the world that would love to immigrate to NZ. right now the NZ government has errected very high hurdles to jump in order to immigrate to NZ. A slight lowering of the immigration standard would see a flood of new immigrants...thus increasing demand for property in NZ.

                Shane

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                • Yep we could do this: http://www.telegraph.co.uk/news/poli...-the-dole.html. Lol.

                  Fantastic.

                  We're such softies in the Westernised world.

                  Imagine if I turned up in Iran saying I'd burned my passport because I am a refugee, I'll be assassinated in my own country, and so can you please give me citizenship, food, a house, money each week, schooling for my kids, free healthcare, language lessons, the right to bring over my parents (so they too can have all this free stuff) later on, etc. etc.

                  Oh and, I'd want to walk around with no shirt on and a big cross on my chest, and if anyone complained I'd expect the local human rights groups to go into battle for my religious freedom.

                  I randomly chose Iran, but you could insert just about any country name in there bar a few.
                  Squadly dinky do!

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                  • Going back to the thread again...

                    Where is David Whitburn? Well, he is still APIA-man. I'm still undecided if he is a genuine APIA representative or a spruiker. I've heard him talk and think he has decent things to say and a sound head, but the guy started sending out a whole bunch of used-car-salesman trash at the end of last year.

                    Is it just me or do NZ people just lack a certain finesse when it comes to marketing?
                    Monkey see, monkey do

                    Comment


                    • Originally posted by MarkButThis View Post
                      Where is David Whitburn? Well, he is still APIA-man. I'm still undecided if he is a genuine APIA representative or a spruiker. I've heard him talk and think he has decent things to say and a sound head, but the guy started sending out a whole bunch of used-car-salesman trash at the end of last year.
                      Have you read his latest book? Bit of waste of time I think - ok, well maybe a kick in the pants to get you off the couch. But the whole concept was "get mentoring from NZ Wealth Mentor" (his company which charges $7k for 3 days or something similar.

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                      • Yeah, I've read the book.

                        I read them all and love them. There are always tit-bits anywhere and even the most useless investor might say something that I can store away like a chipmunk. But I am a reader, rather than a seminar-goer, good thing since a book is $40 whereas a seminar is $5K. Or better yet, a book is free from the library.

                        As I say, I think David W has a good head on his shoulders. The only problem is that he is straying into the area where he is starting to promote his guff, which isn't appropriate for his APIA position.
                        Monkey see, monkey do

                        Comment


                        • Originally posted by Davo36 View Post
                          Straying off the thread again.

                          Hold it, it sounds like that article's counting all foreign-born people - incl permanent residents and people who became citizens. If someone moves to your country, works and pays taxes for 20 years and then loses their job, I reckon they're entitled to the dole.

                          Comment


                          • Originally posted by essence View Post
                            Some years property was increasing by 15-25% per year, other years there's negative or neutral growth.

                            Historical evidence has shown that since the 1960s (when the first sales records began to be taken) that property valuations have increased on average of 9% per annum.
                            Just for comparion, when I plug numbers into the RBNZ inflation calculator, the average compound annual inflation is 6.1% between Q4 1960 and Q4 2011:
                            http://www.rbnz.govt.nz/statistics/0135595.html

                            So if your numbers are correct, you're getting 2.9% above inflation capital growth. Add in rental income (assuming no mortgage) less expenses, rates etc, and it looks quite good.

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                            • I just finished reading David Whitburns book and from someone who knew nothing about property I feel like its actually been pretty good, if only to learn about things such as the options for structuring your business and loans, leveraging, interest rates etc. All stuff you could probably find on the internet sure, but for $30 or free from the library, its a lot less hassle. But as mentioned there are parts of the book the do come across very much like a blatant sales pitch for his mentoring business (i.e. all the pamphlets in the back). He also seems to blow BNZ...I wonder if he is getting any kick backs or are they really one of the better banks to use (i.e. their total money product?)

                              Comment


                              • Values double in Auckland every 8 years

                                Originally posted by Lissica View Post
                                Just for comparion, when I plug numbers into the RBNZ inflation calculator, the average compound annual inflation is 6.1% between Q4 1960 and Q4 2011:
                                http://www.rbnz.govt.nz/statistics/0135595.html

                                So if your numbers are correct, you're getting 2.9% above inflation capital growth. Add in rental income (assuming no mortgage) less expenses, rates etc, and it looks quite good.
                                Forget the national averages, there is too much skewering, some towns boom while others die.
                                Take a look at Tauranga / Mt Maunganui, great place now, but if baby boomer should all retire to there, jobs would drop, the turnover of houses drop, tourism would drop, younger people would move away, the town would become a generation of oldies and change in the future.

                                Stick to the major cities and compare the data.

                                Pick any house in inner Auckland, look at the price of it in the 50s or 60s, then double and redouble the value of it for every 8 years and you will find that the value will be on target for today.

                                My first ever IP at 31 Inkerman St, Onehunga cost me $10,500 on 11/11/1969
                                Assuming a doubling every 8 years
                                1969 = $10.5k
                                1977 = $21k
                                1985 = $42k
                                1993 = $84k
                                2001 = $168k
                                2009 = $336k
                                CV for 1/07/2011 = $530k + $300k = $830k (property was subdivided in 1992)

                                My 2nd ever IP at 38 Church St, Onehunga cost me $14,500 in June 1973
                                Assuming a doubling every 8 years
                                1973 = $14.5k
                                1981 = $29k
                                1989 = $58
                                1997 = $116k
                                2005 = $332k
                                2012 = $664k
                                CV for 1/07/2011 = $610k
                                (was sold to current vendor for $132k in 1993)

                                14 Don Croot St, Morningside cost me $52k in Sept 1977 (4 x 1 bedroom unit)
                                Assuming a doubling every 8 years
                                1977 = $52k
                                1985 = $104k
                                1993 = $208k
                                2001 = $408k
                                2009 = $816k
                                CV for 1/07/2011 = $960k
                                (was subdivided at unitized in 1994)

                                Ron Hoy Fong
                                (RonovationZ)

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