Header Ad Module

Collapse

Announcement

Collapse
No announcement yet.

"Property investment deals" Is this forum for real? here's my situation..

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • "Property investment deals" Is this forum for real? here's my situation..

    Im a kiwi bloke living in ozz, I have one house in Taupo with a gv of 345g and owe 235g, I work in the Pilbara, north west WA and earn around 200g per (opps gross not in hand)..... But have no clue where to go next hence being here
    Since being on this site(3 days) ive read more than i have in the last 2 years(that's sad i know) and well I guess you could say I've learnt a fair bit from this site BUT after looking at the forum
    "PROPERTY INVESTMENT DEALS" and seeing loads of scams, who are you really ment to trust??

    Anyway If there's someone genuine out there who could share a few tips, do and donts etc or someone who could possibly steer me in the right direction that would be fantastic..
    thanks for reading

    Myles B
    Last edited by kiwiinoz; 16-07-2012, 02:52 AM.

  • #2
    Trust yourself.

    Anybody you get to "help" you with property deals is at best going to clip the ticket and at worst screw you over a la blue-chip or Glen Cooper........and you'll never know which one you've got for sure until it's too late

    It won't take a whole lot of reading to get you into a position to go it alone....it ain't rocket science.

    Good luck

    Cheers
    Spaceman

    Comment


    • #3
      Trust yourself - and trust us!
      By that I mean have a look at some investment properties on trademe and note the figures - purchase cost, normal running costs, expected income - and the location.
      Come back here and post what you've found and we'll give a few opinions in that kind and forgiving manner which we exhibit to newbies.
      Of course you'll be pestered by the scammers but we can usually identify them for you.
      Get stuck in.

      Comment


      • #4
        work hard

        spend little

        pay down your debt

        how hard is that
        have you defeated them?
        your demons

        Comment


        • #5
          OK heres the plan so far, previously I was going to keep investing in Taupo, but with the high prices and returns being rather low to nothing ive decided and well been told exactly this

          """buy investment stock dirt cheap in areas youy wouldn't want to live but will get great rent and appreciate OK over time. Areas like Otara, Manurewa and Papakura.
          Otara you can buy for high 100's and rent for 300 to 400 a week"""

          I cant say i know akl very well at all, but that sounds pretty good to me, and apperently I can get spotters to help find these properties.

          Yip so this is where Im at so far, slowly moving forward, hoping in the right direction cheers for your comments so far, very much appreciated.

          Myles

          Comment


          • #6
            I would pay down debt on your Taupo property. Then on a holiday to NZ look at buying some property. That way you are not reliant on a finder and you can do your own due diligence.

            If you are looking for a finder there is this site landlords.co.nz/property which could be good for you.

            You could use a finder with a conditional contract of your inspection before going unconditional.
            Last edited by donna; 16-07-2012, 04:52 PM. Reason: removed link
            NZ Tax fixed fee accounting, we are an online accounting practice. Our integration with Xero and our unique approach provides provides superior value to our clients.

            Comment


            • #7
              Originally posted by buxlo122 View Post
              Then on a holiday to NZ look at buying some property. That way you are not reliant on a finder and you can do your own due diligence.
              .
              I have no problem with using a property finder, as long as they are finding you a good property, and not just some rubbish that they get a good commission on. In saying that I like property finders, I also like the comment above, that it is not good to be reliant on them. Do some of your own research and narrow down what you are looking for. ie it might be a 3 bedroom, reasonable section, in hamilton, for between $300k and $350k with around 7.5% gross yield. So in other words have a strategy or a plan, and don't just hope for the best bargain.

              As to where to look. I like to look at these two sites, to give me some ideas of what is around, but I wouldn't buy from them (traders selling stock)
              - www.propertybillboard.co.nz
              - www.property-investors.co.nz

              Overall, take your time and buy something you are happy with. Property investment is long term (10-20 years) and long term you make your money through capital gain. Therefore first you need to look at something that will go up in value, so normally good area, good schools etc. Then second, make sure you have the overall cashflow so that you can hold this property long term. So if you have a high paid, secure job, you could look more at higher capital gain properties with lower cashflow. But just remember that a property with good cashflow makes life extremely easy, whereas a negative property can be hard work if you lose your job, or times turn hard.

              Ross
              Book a free chat here
              Ross Barnett - Property Accountant

              Comment


              • #8
                but I wouldn't buy from them (traders selling stock)
                Not only Traders selling on this sites Ross on www.property-investors.co.nz there are Deals from buyers agents and Real Estate agents.

                Nothing wrong with buying from a trader if the deal is good.
                New Zealand's #1 Marketplace for Property Investors & Sellers!
                FREE Access to HOT Property Deals
                CLICK HERE FOR MORE INFO.

                Comment


                • #9
                  Originally posted by kiwiinoz View Post
                  OK heres the plan so far, previously I was going to keep investing in Taupo, but with the high prices and returns being rather low to nothing ive decided and well been told exactly this

                  """buy investment stock dirt cheap in areas youy wouldn't want to live but will get great rent and appreciate OK over time. Areas like Otara, Manurewa and Papakura.
                  Otara you can buy for high 100's and rent for 300 to 400 a week"""

                  I cant say i know akl very well at all, but that sounds pretty good to me, and apperently I can get spotters to help find these properties.

                  Yip so this is where Im at so far, slowly moving forward, hoping in the right direction cheers for your comments so far, very much appreciated.

                  Myles
                  Just as an aside, I don't think you can purchase rental properties for high hundreds anywhere in Auckland. Could be wrong, but even a modest 3 bdr will set you back mid to high two hundreds. You might be able to get a "motel style" 2 bdr for low two hundreds.

                  Comment


                  • #10
                    Of course it's legit, coz I saw it on the interwebs....

                    But seriously folks, I think finders can add some value to people who are too busy/lazy to find their own deals.

                    I'd look at fully renovation properties in Auckland and do my own DD as to the value.
                    I'd also check out the expected rental return in great detail.

                    Comment


                    • #11
                      Originally posted by halfempty View Post
                      Of course it's legit, coz I saw it on the interwebs....

                      But seriously folks, I think finders can add some value to people who are too busy/lazy to find their own deals.

                      MMMMMM IMHO investing in anything should take quite a bit of work......but investing in property because of the heavy management load requires even more work. I personally think that if you can't take the effort( for what ever reason) to find your own deals then you are more than likely not suited to PI> I say this because the management issues you will face along the way are usually more demanding than just finding and buying the property.
                      The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.

                      Comment


                      • #12
                        Always find a good mortgage broker!
                        Might pay to get your Taupo property valued so you know exactly what your equity is if looking to leverage in buying another property.
                        Craig PopeCraig Pope Mortgages & Insurance
                        www.craigpope.co.nz

                        Comment


                        • #13
                          Originally posted by Craig Pope Mortgages View Post
                          Always find a good mortgage broker!
                          you would have to say that though.

                          Comment


                          • #14
                            I know I am a bit biased but we save alot of time and money.
                            all the best
                            Last edited by revdev; 20-07-2012, 03:09 AM. Reason: removed commercial content
                            Craig PopeCraig Pope Mortgages & Insurance
                            www.craigpope.co.nz

                            Comment


                            • #15
                              thanks for all the feed back, much appreciated and taken on board.
                              Ive got my broker back on board so alls moving forward there, as for properties still looking.
                              I wouldnt say im lazy or to busy to find my own property, i just dont know Auckland that well to trust my own gut and find
                              something great, hence why I was going to use a finder.
                              But I think im going to flag AKL and stick to what I know which is Taupo, maybe a little more expensive, with lower short term returns and probably less capital gain over time, but its what i know, its where I love and its where Im going to be in a few years from now
                              Ive found two properties that I like with the estimated rental return covering all basis plus a few bucks extra per week. so I cant complain.
                              woop woop
                              Myles

                              Comment

                              Working...
                              X