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  1. #11
    Join Date
    May 2008
    Location
    Christchurch
    Posts
    12

    Default Apartments

    Pooomba is obviously trying to justify an apartment purchase and subsequent sale for profit as a high risk speculative move. The fact that steel and other raw materials are more expensive now than they were before does not justify a property value. The real investors know that value is in land, not in a depreciating white elephant. To encourage and promote Pooombas style of trading is NOT prudent for most and he is quite clearly unconcerned about any consequences to the unsuspecting multitudes who may be unwittingly drawn into this scheme of investing. My considerable experience suggests that the golden pavements of Surfers are littered with the corpses of those who have been taken in for the profits of others.

  2. #12
    Join Date
    Jun 2005
    Location
    auckland New Zealand
    Posts
    5,236

    Default

    hi Russell. I can't find anybody who has lost money on apartments on the Coast, but have met plenty who are making considerable profits. Would love to catch up and discuss things further if you have info to the contrary.

    From Midwood and Matusik reports over teh last 4 years there isn't one single development on the Coast I can find that people have not made between 20 and 50% by buying off plans and onselling at or close to title. Hardly risky :-)
    Last edited by [email protected]; 20-05-2008 at 05:10 PM.

  3. #13
    Join Date
    May 2008
    Location
    Christchurch
    Posts
    12

    Default

    Pooomba the depth of your "research" is shallow indeed. Try RP Data. If you can't find anyone who has lost money on an apartment on the Gold Coast then I simply wonder who you are talking with and where you are looking. 50% of my time is devoted to assisting those who have been over sold and over hyped into apartments.

    Indeed, I only looked at this website a few days ago because I was advised of your statements of encouragement towards Gold Coast apartments and I'm compelled to direct some balance to your outrageous claims. Marketeers and double teer marketing is NOT a place where honest kiwis should be led to their imminent disaster.

    I shall monitor.

  4. #14
    Join Date
    Jun 2005
    Location
    auckland New Zealand
    Posts
    5,236

    Default

    2 tier marketing is illegal so you don't have that issue in Queensland with honest developers. As I said love to meet up and discuss. Show me some evidence.

  5. #15
    Join Date
    Nov 2005
    Posts
    346

    Default

    Quote Originally Posted by Trisha View Post
    Hi Mack
    Mark Uden of Kiwi Mortgage Managers - [email protected] could offer some information and puts the clients needs first.
    I would second that. He has 10 years expereince in Queensland property and runs an open 'question and answer session' He is no hype, no glamour, low key, with quality research.

    I have personally lived in Aus for 4 months last year (on the GC) and as I have mentioned here before, be very careful of who and what you do with property in Australia.

  6. #16
    Join Date
    Aug 2005
    Posts
    358

    Default Ramping

    I have details of a local broker (oz) who can assist with finance if anyone wants - or I could post here if people think it is appropriate. I don't own the business or get paid referrals.

    It may be easier for Aussie brokers only because it is their bread and butter. I remember when I first started investing in NZ I used nz solicitors, nz brokers, nz agents, nz finders, nz valuers etc etc.

    There seems to be a trend of people trying to get their local (nz) team to do a crash course on international law/accounting/finance etc and then use them for foreign investments.

    This may not be the way to go as you would be putting your faith in someone who only has a few months experience at what they are doing.

    There have already been some fancifull claims about capital gains tax made on this forum so who knows what other dodgy advice is getting thrown around.

    People need to be really really carefull about ramping.

    It is a technique that some people use. Secure your own interest in something and then sing its praises until you have artifically increased the price. You then get out before the market gets wind of what you were up to. It happens alot with penny stocks and high risk real estate like time share, otp resorts, otp apartments etc etc.


    I saw a guy do this to a bunch of aussie investors in the Buffalo Real estate market a few years ago. It was one of the most unethical things I had ever seen at the time. A few years on these forums and I have seen alot worse since then.

  7. #17
    Join Date
    Nov 2005
    Posts
    346

    Default

    Quote Originally Posted by Don and Liz View Post

    There seems to be a trend of people trying to get their local (nz) team to do a crash course on international law/accounting/finance etc and then use them for foreign investments.

    There have already been some fancifull claims about capital gains tax made on this forum so who knows what other dodgy advice is getting thrown around.

    People need to be really really carefull about ramping. It is a technique that some people use. Secure your own interest in something and then sing its praises until you have artifically increased the price. You then get out before the market gets wind of what you were up to. It happens alot with penny stocks and high risk real estate like time share, otp resorts, otp apartments etc etc.


    A few years on these forums and I have seen a lot worse since then.
    Hi Liz and Don

    I second that 100%!

    Ps Love the dog!
    Last edited by rustica; 31-05-2008 at 01:39 PM.

  8. #18
    Join Date
    Jun 2005
    Location
    auckland New Zealand
    Posts
    5,236

    Default

    Provided you stick with quality developers/developments and by at or below average sqm. rates you won't have a problem.
    Buy the Midwood report and stick to stock being marketed at or below median rates.
    Especially in areas like the Gold coast where I am investing, with 19.4% growth in the last 12 months and more predicted over the next 2 years it is very difficult to not make money. AS LONG AS YOU STICK TO THE RIGHT DEVELOPMENTS IN THE RIGHT LOCATIONS

    As for finance, you are better to use an Oz accredited kiwi broker as a lot of Aussie ones don't understand the NRWT issue and many of them aren't able to assist with restructuring of your NZ stuff if required.

    We have had many clients declined through OZ brokers who were easily approved when we processed it from the NZ end.

  9. #19
    Join Date
    Aug 2005
    Posts
    358

    Default

    We have had many clients declined through OZ brokers
    That's because they know the risks!

    Also you have to be really really careful about an investment if when you try and finance it outside of the "circle of interested parties" the wheels fall off.

    If you can't get finance locally it says a huge amount about the way the local banks value the security your are offering them in the market place.

  10. #20
    Join Date
    Jun 2005
    Location
    auckland New Zealand
    Posts
    5,236

    Default

    Actually Don all it means is that most OZ brokers are way too busy and inexperienced to be bothered helping off shore clients. They don't understand NZ company structures etc., especially as they relate to property investing structures in NZ. It has zero to do with risk or the property. They just struggle to understand our LAQC and trust structures etc. But I'm sure you know as you invest there as well as here. Our broking industry is much more switched on than Oz's.
    Last edited by [email protected]; 31-05-2008 at 02:39 PM.


 

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