Member Profile

[NZGEMS]

Name Robyn Grinter (NZGEMS)
age - 53 (2009)
Location - Hamilton (for now)
Years Investing - if you count the shares 15
Types of Investing, Realestate seriously since 2001 shares in the old life

Background I had traded shares back in the early 90's had a few for a number of years prior to that too as lost alot in the crash of 87 at that stage I wasn't trading. But started in the 90's and made alot of money then decided in 96 to get out as I felt I had only been lucky and I would concentrate on our then business of building the countries largest pet shop, we used the Shares to purchase the land, borrowed the rest from the bank, and it was very successful. I hated working in it though it just wasnt my passion my passion had been to set it up and get it running so i searched and discovered I was going to make a go of property, well that decision was made in Sept 98 when I attended a course on understanding your mind, I decided then I would get into property as I quite liked it. went to a couple of courses that next year read some books and the following year after attending another seminar I just decided that was it I wasnt going to listen to those who told me I couldnt any longer and went out and the rest is history, traded over 300 in 6 years, done a few since, currently holding about 70 including some land which I would really like to move. Have some more under contract too.

about to start a mentoring business as I have decided it is time to spend the time helping others get ahead too. Still will do a few property deals including purchasing a few more 15%ers sold alot of those a few years ago, maybe not the smartest move but seemed a good idea at the time. Probably was they were not in crash hot areas. Going to keep educating myself too plan to do an NLP course later this year.

plan to the future is to purchase our land at Waiheke we have found build the mansion on the coast, carry on with the mentoring and run a few seminars again too. also will speak at others which I have done in the past. and best of all sit back and drink wine on the beach.

[donna]

For those of you that want to create a profile of yourself here - I can suggest you add a link to it in your signature (how to create a signature).

To get the unique URL for your profile post - click on the post number on the top right hand side of your post (once you have loaded your post) copy that URL and then add it to your signature - e.g. for Graeme's post his URL is:
http://www.propertytalk.com/forum/sh...74&postcount=2 and he could have in his signature a hyperlink to it so it reads:
My Profile

Cheers,

Donna

[whitt]

good idea donna

[jporteous]

Name Jonathan Porteous (jporteous)
Age - 32 years (2009)
Location - Christchurch
Years Investing - 7
Types of Investing - Property (buy and holds), and own business.

Background:
My investing started in 2003 when we started our own business and purchased our first investment property.

I have been lucky in that the people I started the company with have all been long-term investors (20-30yrs+ in shares & property) and through their encouragement I started investing. Their ongoing advice is invaluable.

My first investment property was in Invercargill (2003). It was extremely ugly (pale sickly green) but was a sound brick and rough cast building. It was on the market for $125,000 but negotiated down to $105,000. I quickly repainted it, rented it for $200/week (10% yield) and revalued it for $125,000. Not a lot of money but i learnt a lot.

In 2005 my parents and I decided to setup a jointly owned LAQC (50% each) to target blocks of flats in central Christchurch. The deal we came up with was they would provide some initial equity but I would do all the work.

In 2005 we bought a block of six flats in Brockworth Place, Riccarton. It was on the market for $1,000,000 - building was sound but it had been thrashed. Before purchase I got the valuer to forecast the value if I renovated the block. With negotiating the purchase price to $900,000 and the forecast valuation the bank was happy to fund the purchase and renovation at 6.99% . This block has a 9% yield (on debt) and valued at $1.4m.

Also in 2005 I ran into trouble in Christchurch and Invercargill with my property managers. As an example, the Invercargill property manager (big firm) received rent on time from tenant but I had to chase them for the rent to be forwarded to me. To cut a long story short sacked both. Sold Invercargill and have been successfully managing our own properties.

In 2007 through work I meet a successful businessman who wanted to invest in property but didn't want the hassle. A block of eight flats in the four avenues (5-8 min walk from square) came up. It was in eight separate titles. So our LAQC bought 4 & the businessman bought four. We manage all 8. We have a legal document that if one wants to sell the other gets first right. This property is negatively geared with a 7.5% yield but we do control over 1400m2 close to town so the long-term value should be reasonable. Especially with the council actively encouraging population growth within the central city.

In 2008 we bought Peverel St. Walking distance to university + Riccarton mall etc. This is under another LAQC with my brothers. Currently with a 7.5% yield. The back flat we can easily convert to four double bedrooms. We have good tenants at the moment so will hold off till the move. Had only fixed for a year so will be able to lock in a reasonable rate this July which will make this property almost cash positive before tax.

During this time we also started managing another 3 properties for other people.

Looking forward we are cautious but optimistic for this year. With managing our own properties + reasonably yields + tax rebate we have an okay cashflow across the three. Our plan is to sit tight for now and focus on lifting rents.

Jono

[Fingers]

New Starter

Name: Liam Fay
Location: Lichfield, England
Age: 36
Kids: 3
Background: Kiwi from Wellington
Occupation: Civil engineer (was once an apprentice & tradesman painter & decorator).

Note: A new starter, very small compared to you blokes, but I hope this is useful to some other new starters.

My first NZ investment was purchased in 2007, I had designed and built a 40m2 extension (no planning permission required!) on our house in Dublin, which we sold in 2007 and made a huge profit. We moved to England and sent some money home (have since converted our uk internal garage into another room increasing the house value). We purchased a couple of semi detached ex state house 2 beds on one title, positive cashflow. In 2008 we bought our second property, negatively geared but from my calculations only for 4 or 5 years then it will become positive.

Got into property investment after reading Dolf de Roos (+ another co-author - Jan Somers) 'creating wealth though property investment' or some similar title. A great book, very good at explaining why property is better than shares or cash in the bank.

Our goal is to buy at least one IP every year in NZ for the next 20 years and hold them. We hope to move back to NZ in the next 5-8 years (in the uk for family reasons) and start a business in a property related field (should be in a good position with my engineering and painting experience!).

I live and breathe property, its something I really enjoy. I love reading these background stories, keep em coming.

[Perry]

The Low Down

Got into passive-income-through-PI by accident.
First tenant was a family member. Since that
‘oops – golly, gosh’ start, have added another
residential and two commercial, to give a total
of four. Presently, no plans for any more. No
property managers involved.

Current DER* 5:95. Forecast DFD** is 1 Nov 2011.
Other income streams/ventures include some
primary production, leased grazing and coppice
firewood production.

Helped by many years of self-employment,
which, with the aid of a good accountant, gave
me a fair knowledge of structures. Still made
some horrible mistakes, though. No significant
course attendances. Getting close to qualifying
for the pension.

Helpful Books Recommended*** (my chosen order of merit)

Fiona Clayton-Law
What Your Accountant Doesn’t Tell You (Tax, Wealth & Equity)
Dolf de Roos
Real Estate Riches
Robert Kiyosaki
Rich Dad, Poor Dad
Frank Saxton
Landlording in New Zealand

* Debt/Equity Ratio
** Debt-Free-Day
**Unfortunately, that date has changed.
. . . .Still before the pension - I hope.
*** Too many books can become a bad habit

[NZGEMS]

This could have been an interesting thread if people weren't so private.

Come on folks lets hear some more of your profiles.

Come on out and play. It is all fun.

[Keys]

Come on out and play. It is all fun.

And permanent. Sorry. No go from me.

[Clark Kent]

Name - Grant Brown
Age - 34

Built our first home early last year, then decided to use some of the equity to buy a rental property, the property is cash flow postive. We are managing it our selves and enjoy the hands on approach as we have learnt alot from managing it. Intend to pay off $70k - 90k of home loan next year and then refinance and use the cash to buy more properties, goal is to get two more rental properties next year.
Really enjoy investing in property and cant understand why more people dont do it.

[toby]

Name Toby Yorke (toby)
Age - 36 years (2009)
Location - Warkworth
Years Investing - 13
Types of Investing - Property, (buy and holds, trades, renos, wraps, on-selling contracts, and business (Web Design).

Background - Left school and decided to join the Army but prior went and worked on an Orchard and in a Restaurant. Traveled around Europe for a few months then returned and joined the NZ Army.

Spent 7 years there, did a stint in Bosnia, represented the Army shooting etc. Changed trade and got a qualification as a Canvas Fabricator then left.

In my time I have worked as a/in...
Orchard worker
Kitchen hand
Security guard
Asbestos removal
Scaffolder
Real estate agent
Door to door sales
Soldier
Canvas fabricator
(Plus probably others?)


Bought my first property in about 1995/96 then a couple others. Did nothing until about 2000/01 when I went to a John Burley event.
Left in the Army in '99 and went traveling again and met a guy who gave me Rich Dad / Poor Dad, read it and thought - hmmm.

Flipped my first home in 2000/01 and made more money than a years wages - but went back to having a job - go figure?

Tried quitting having a job a number of times and doing real estate full time but didn't have the confidence or mind set.
Eventually got it off the ground in about 2003.

I've lost shit loads of money, screwed it up and failed to learn lessons again and again.
I have just kept going, failing forward.

Made a good chunk of change only to learn I had climbed the ladder up the wrong wall.
Currently have a good size portfolio though to be frank it means little because CASH FLOW IS KING!

Have learnt to follow those who have the outcome you want, not those that proport to have.

Currently building an awesome Web Design (Geek Speak) company with a friend of mine and friends of her's.

Have been to events by...
Ron LeGrand
John Burley
Robert Allen
Brad Sugars
Olly Newland
GBI
Robert Kiyosaki
Dolf DeRoos
(Plus others?)

Best piece of advice - W.E.T attitude - What Ever it Takes.
Follow those who have the outcome you want.
Do what you want to do, not what others want you to do and don't do things to look good - play your own harp.

[brokerman]

Jeff Royle

Over 50 in years, much younger in attitude

Moved to NZ in 06 having spent many years in Eastern Europe, Russia, Asia, Middle East arranging property deals and finance.

Set up www.themortgagelender.co.nz in 07 and despite the most difficult trading conditions I've ever seen, make a profit. (not a dirty word in my house!) Arrange mortgage finance from the Banks, non Banks and Finance Houses for Investors here and overseas, email is King!

Truly believe that the only credible long term strategy for financial independence is via property investing, looked at many others in the past.

Also believe in PMA (Positive Mental Attitude) its the only way to be!

[RichardF]

Richard F

Currently 41 (until my next birthday)

Have 10 years investing in property in NZ. Purchased first house in 2000, left to live with in laws in Queensland late 2002. Rented house out and watched the market while we were over here. Thank god for the interent. Purchased second IP in early 2006 in Invercargill (roughly 10% rental yield, approx 12.5% IRR to date based on QV eValuer estimate. Then sold house in Lower Hutt, purchased again in Invercargill late 2008, around 8% yield (about 10% IRR roughly to date based again on QV eValuer estimate. Purchaed another IP this year in Invercargill (after looking at Chch but could not get the same cash flow returns), on about a 9.5% yield.

I also thought how could I get more involved in property - I know, I'll be a valuer. So five years into my degree I am almost finished and will soon be a registered valuer in Queensland. I have a wife and 3.75 year old son, who thinks hes 5....

I have a good knowledge of the South East Queensland market and think it is invaluable for any investor to know about a market (any market be it real estate or other markets), as there are many factors in play that can send a market in a direction, up or down. The longer you spend as an investor in markets the more experience you get. Also understanding the concept of value and how property is valued (not just residential property) has been an important learning for investing.

I am also in the process of setting up a small valuation business and my own blog (on property valuation and property investing), I hope to get both up and running in the next few months, dealing with property on both sides of the Tasman.

I find it pain free investing from Oz as my mother lives in Invercargill and we have had excellent local property managers, financiers, solicitors, and valuers. In order to diversify I will buy in another south island city next time, hopefully before RWC 2011, and before my wife decides to build another house here .....

So far I have found it invauable to have some good reliable contacts, or team, experience in markets, access to accurate information for good decision making, and a steady nerve (PMA).

I have come from a background of gamblers and drinkers who have really done nothing to improve there lives (or that of there families), so I have escaped and tried to break this mould. You need to have a degree of steel and thick skin to break from the norm to try and better your lot and that of those close to you, when your extend family knock you.

Sorry to harp on abit .....

My interests include, travel, golf, rugby, family, investing (shares and property mostly), and my door (email) is always open to these subjects, and valuation issues.

I am currently reading 'The snowball', about the life of Warren Buffet, I have also been watching a show on pay tv here callled 'flipping out', about a Los Angeles based house flipper/designer, Jeff Lewis, which has been very entertaining. I am also doing some papers on property statistics and property portfolios (more about larger corporate real estate) for University.

Happy investing all and keep that PMA going ...