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  1. #11

    Default thanks superdad

    I haven't attended any seminars yet. I am going to the Wanganui investment Property association which started this year.

    May be we need to find someone to point us in the right direction before we make an offer.

    really appreciate the advice.


  2. #12
    Join Date
    Apr 2006
    Posts
    4,018

    Default

    Great move joining your local PIA ratz!

    I read a book years ago, published by the Consumer's Institute, entitled How to Get the House You Want. While this was aimed at homeowners rather than investors, it covered much of what one needs to know about due diligence. Another awesome book I read early on, and keep coming back to, is Lisa Dudson and Andrew King's The Complete Guide to Residential Property Investment in New Zealand. Now, it is not as complete as it purports to be, but it is an accessible and somewhat comprehensive introduction.

    If you keep on reading this forum and making posts, you'll find that there is no shortage of people willing to help point you in the right direction.

    Paul.

  3. #13

    Smile Thanks everyone

    My wife has been reading the forums for a year or so now. This is where our learning has come from. I have recently started reading also and I have learnt a lot in a short time. There is a lot more to do yet but I am keen and focused.

    My wife has been learning through Investment DVDs and books.

    Putting things into action is the crucial part. One step at a time. Getting the finance is the easy part. Going through the process of offers and the rest appears to be the area where we need most confidence.

    I have had preapprovals in the past and it amount to nothing because we were not confident enough. Now I think we are confident enough to take it one step at a time.

  4. #14
    Join Date
    Feb 2004
    Location
    North Waikato
    Posts
    651

    Default

    Yes, making the offer is one of the key psychological barriers you need to overcome. While some people leap in with no knowledge, others have attended every course available and read every book ever published but still won't take the leap.

    There have been many threads on this topic as well as its your own mind set which ultimately determines your long term success.

    There is no replacement for action so start making those offers. Just put in a due diligence clause as you have finance pre-approved and get into ACTION.

    You are going to learn so much from that first property.

    John

  5. #15
    Join Date
    Apr 2006
    Posts
    4,018

    Default

    Hi again ratz,

    I was just looking through my stash of NZ Property Magazines, looking for a certain article, and I came across something that made me think of your question about DD.

    The May 2006 issue has an article on due diligence investigations, on pages 42 and 43. Reading it again, I see that it is very good. - it might be something to take a look at.

    While I'm here, a agree fully with John's comment about putting offers in. As long as you have an "out" (in the form of a DD clause), you are relatively safe. You will of course first need to learn which clauses to put in, but once you start putting offers in you will learn so much, and you will overcome the first hurdle which is presenting an offer.

    Good luck,

    Paul.


 

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