How do I purchase New Zealand property in Australia

[rodion3028]

I wanted to invest in the really cheap apprtments in New Zealand from Melbourne in Australia.

I would appreciate any help, thank you.

[speights boy]

I have replied to your other post.

Do you have the money to invest?
Do you have a job?
Are you able to obtain mortgage finance ?

SB

[rodion3028]

Thank you for your reply.

No I dont have the money and no job so I dont think I will be able to get mortgage finance.

[ENP]

Thank you for your reply.

No I dont have the money and no job so I dont think I will be able to get mortgage finance.

So then your "financial plan" you have been talking about would involve both of these things then? If I was you...

1. Finish tertiary studies.
2. Get a job.
3. Save save save.
4. Start looking at properties and create criteria for what you look for in a rental property (yields, bedrooms, location, price, etc)
5. Stick to the criteria and make some offers.

[myplace_11]

To invest you should have the money and also if your looking for properties you can check the internet for news on auction properties.

[Gasoline]

It's great that you have a goal...don't give up on that goal of investing in property....
But first get your finances in order...
Good luck!

[mattinvestor]

OK, but once someone does have their finances in order, is there any way to invest in NZ properties from Australia?
Would I have to visit NZ to invest?
Also, are the properties there really that much cheaper than Aus?
I wonder...

[Rosco]

Hi Matt,

In some parts of NZ there are cheap properties, but often you wouldn't want to invest in these areas. These cheap places are often in small towns with no major employment opportunities, and in some cases the towns are slowly dying. I would personally look at cities in NZ, where there is more population and more growth potential.

If your sole focus is really good cashflow, then you could look at America, where the cashflow is amazing, but there is also a higher risk.

If you do choose to still buy properties in small NZ towns, I feel that you would actually have to visit. Otherwise you might end up buying a real lemon!

Ross

[NovInvestor]

Look before you buy...

If you aren't prepared to pay for the airfare, I suggest you grab a Rich Dad Poor Dad book, read it, read more recommended real estate books from the back pages.

Then think about what you want to do!

[Orkibi]

rodion3028,

you need a good mortgage broker in Australia who can organize finance for you to purchase in New Zealand.

i recommend contacting Don Nicolusssi from Home Loan Warehouse, call Don on 61 04 20763 784 or email: [email protected]

[mattinvestor]

Hey Rosco, Thanks for the tips mate. That's been really enlightening.
I like the sound of cash flow from US. You mentioned though that they're higher risk... why? in what ways are they higher risk?
I went to a property conference in Sydney recently and there were several companies highlighting US properties. I looked at the prices of some of them and they were so much cheaper than in Australia!

[Rosco]

US is higher risk because there has been so many foreclosures and the US property market seems completely stuffed.

But in dollar terms, the risk is probably no different

- NZ properties could easily drop 10%, so on average house of $350,000 that could be a $35,000 drop
- US Property. Quite a few investors are buying for $60k, putting in $30k from home country, and then borrowing other $30k. As the borrowing in US is non recourse, in the worst case scenario you could just walk away from the property, and the US lender won't chase you. So you would lose the $30k you originally put in.

Personally I think US properties is a bit more hassle than just buying in your home country. If you were to invest, I suggest you look at it as "$30k you can afford to lose" if it all goes wrong.

Ross

[haree]

Nice question i also have such a question and get allot from here

Koozies