NZ 1st homebuyers are ScReWeD...

[Mick100]

quote:Originally posted by JoeKing
[
,
I discovered that a lot of renters look upon their landlord with disdain and even go out of their way to be difficult. Often they are envious, jealous, and even hate their landlords who they consider "priveledged" and "leeches" getting fat on their tenants rents.

I'v got a couple sets of neighbours at the moment who speak quite openly to me about what they think of the landlords and your above remarks are right on the money JK. These people just despise their landlords for no apparent reason. The rent is reasonable, the properies are well maintained and the landlords are genuinely good people in my opinion.

The fact is that most long term tenents seem to resent the fact that they have to pay rent but they are not prepared to do anything about except ***** and winge about the landlord.
./

[duncan macgregor]

quote:Originally posted by Mick100

I'v been watching your antics in the sharemarket for close on 4 yrs now and it's obvious to me that you don't make much money at it, if any - so, yes, I agree, you must be playing in the markets just for a bit of fun
MACDUNK

What a pathetic little person you are MICK. You cant even put forward a reasonable arguement on the subject without reverting to personal attacks. When have you ever said i will buy this or sell that as i do. I have doubled my money Invested on the sharemarket in the last four years and given out my buys and sells in advance. I never defend my position but will say this you are not big enough to do the same. My last statement was sold TPW ,CEN bought MCR at $2-15 on 3rd of jan after a two year hold .
You are pathetic try again sometime. MACDUNK

[wns]

quote:Originally posted by Mick100


JK, I think when you deal in property, either as a landlord or doing these wrap deals as you have done, you need to have certain qualties that not everyone has - ie, you have to enjoy dealing with people.

For being a landlord, I disagree with your statement - that's what property managers are for. They deal with the tenants so you as the landlord don't need to. I've had two rental properties since late 2003, and I've only met the tenants once, back in 2005 when I saw the properties for the first time. The properties are 600km from where we live and we incorporated an inspection into part of a holiday we had. As much as anything I was curious to see what the houses looked like on the inside. Both our tenants were nice people and were renting the houses before we purchased them.

Putting vendor finance deals together is different though and a lot more involved. You're dealing with people, selling, qualifying, seeing if there's a way to make the deal work.

If you're a money partner on vendor finance deals (which is what I did), then all you have to do is arrange finance for your purchase of the house, sign some papers and watch the money come in each month.

[trackers]

quote:Originally posted by vivins

quote:Originally posted by JoeKing

PS
If somebody can explain how to post a XL spreadsheet program I will put up my WRAP calculator free. (or you can buy a similar, but not as good) one from KPI for around $400).

I'm not 100% sure, but you could use a site like http://www.filefactory.com/ to upload a file, then post a link to the download? I would be very interested in having a look at that calculator

Thanks,

I could host the file on my webserver if it was emailed to me

[Halebop]

[quote]quote:Originally posted by duncan macgregor

[i]...I have doubled my money Invested on the sharemarket in the last four years...

Doubling your money in 4 years is worth bragging about but remember that there is a degree of hitching your boat to rising tide rather than personal brilliance in this sort of result. Since it's forumlation on 3 March 2003 (About 3.9 years ago), the NZX50 Gross index has risen 119%.

[Mick100]

[/quote] What a pathetic little person you are MICK. You cant even put forward a reasonable arguement on the subject without reverting to personal attacks. When have you ever said i will buy this or sell that as i do
[/quote]

Seems I'v hit a raw nerve macdunk. I sometimes read your posts and I get the feeling that something doesn't add up. Years ago you wrote (on numerous ocassions) about buying a property from housing corp and selling it to your daughter at a profit. If you were doing such deals reguarly I'm sure we would have heard about it. Your trying to give readers the impression that you have a property portfloio. Thats why I asked the question - how many properties do you own other than the house your living in.

I often declare my hand on the ASX forum as regular readers will know
The reason why I don't often post on any changes in my NZX portfolio is becaause I very rarely make changes to that portfoio. Last yr I bought PGW which you and other followers of that thread know. I sold CDL and bought ABA the year before which I also announced on that thread - go and have a look at the thread. I havn't made a secret of the fact that I hold NZO, while GPG and CEN have been in my portfolio since the 1990s - thats it Macdunk - no secrets there.

You constantly claim that your the only person who declares his hand - if you read more carefully you will find that plenty of people declare what they are holding.
It's a bit like when you claim that your the only person on this forum who uses his real name - I could name 4 others, off the top of my head, who use their real names.
,

[Heavy Metal]

quote:Originally posted by duncan macgregor

I have doubled my money Invested on the sharemarket in the last four years

A very mediocre performance on the stockmarket given the likes of the ASX200 has generated more over the same period in capital gains alone.

Some of the better investors that post on Sharetrader have probably doubled their money EVERY year in the past four years.

[wns]

quote:Originally posted by JoeKing
One of the reasons I got into WRAPs was I got sick of being a Landlord. I had a real problem asking tenants to mow the lawn cause the neighbors were sending me nasty letters, asking how they were going to pay the 3 weeks rent in arrears, requesting they tell their kids to stop swinging on the (broken) clothes line I replaced just last week etc.
I even had a tenant phone me 10.30 at night to replace the bathroom light that just blew as her kids were in the bath, and drove 1/2 an hour across town to replace it :-((

That's so different to my experience as a landlord!

My tenants have no idea where I live or how to contact me, let alone my tenants' neighbours!

Actually one of my investment properties is surrounded by a shopping centre carpark so they have no neighbours other than cars and shopping trolleys.

I get maybe four calls per year from my property manager to discuss a maintenance issue, that's about it. And they aren't highly priced or new properties either. I purchased them for $85k and $92.5k respectively in Nov 2003, and now they are worth about $210k each and rent for $160pw each.

We bought our own house four years ago and are only now doing some renovations. Its exciting! The inside of the house is being painted and next we're getting the floorboards polished, then new curtains/blinds etc (haven't decided yet). Already it looks a lot better.

Our initial outlay of roughly $13k (approx $20k minus $7k first home owners grant) to buy our home has now grown to about $440k of equity between the three properties, in just four years.

Property has been very good to us and that's why I'm quite passionate about it.

Our two major financial goals are to own our home outright and have investment income more than cover our living expenses. Its very satisfying to make progress towards those goals.

We've lived a modest lifestyle compared to what it could be, because those goals are more important to my wife and I than having flash cars and other "doodads". I drive a car worth $3.5k while most of my work colleagues drive BMW's etc.

Anyway, gotta go. Hope this has been helpful and encouraged someone.

[JoeKing]

Hi Vivins
I did as you suggested, here is the link http://www.filefactory.com/file/f4ab34/ I originally made the spreadsheet in Excel 2000 and it works fine on my old machine, but does not like Excel 2003 on my laptop when I tested the link. If you are familiar with Excel you can probably fix. Have fun, lets know what you think.
Cheers
JK
edit: Thanks Trackers, I think the filefactory thing will work

WNS, Initially we did our own rental property manageing, now we use Professionals. You mention 7k home grant so I presume you are talking Aust. We used to have such assistance about 40 years ago but no more. I did buy 2 properties in Blenhiem unseen a few years ago, and took my wife down a couple of years later to auction. It was a real fun weekend, getting (well!) paid to do the Marlborough wine trails after property auction.
) JK.

HEY! Mick/McDunk c'mon guys take a breather!

[Halebop]

quote:Originally posted by cantab

The same thing could be said about the sharemarket.

I guess the 80/20 rule applies anywhere. 'Cept with the sharemarket I'd avoid 99%+. But that 1% can do nice things...