NZ 1st homebuyers are ScReWeD...

[Crypto Crude]

SC-Pity the joe kings and mack dunks did not call the looming housing crisis before it happened...
Job only half compete Id say...

SHREWDY the JOE KINGS and the Macdunks have just done that.

Mackdunk,
Ive learnt so much.... the most important thing that I have learnt is that I CAN NOT afford to MISS the opportunity which is presenting itself to me and will unfold before my eyes with the best buying time in two years time... give or take at this stage...Right now I have two years as it stands... that dream is still alive....

We both know Joe king was selling his housing positions at the best time... I say this because he disclosed it here on this thread... You have not disclosed what you have done... BUt you have said that infamous quote that I cant possibly ignore....and you have said..."the JK's MDs' have done just that",
Its quite cryptic, to me its a late message from you telling us that yes you did start selling, when you told us the exact opposite...
Lets get this straight Mackdunk...
why did you start selling when you told us the exact opposite?
Before I can move on I have to know what you did...

.^sc

[Mick100]

shrewd
Macdunk makes money in the market whether it's going up, down, sideways or in circles

Before you ask, a circular market is not a market at the circus, it is a market in which macdunk runs rings around everybody

[Crypto Crude]

In two years, buying a House will be the best decision you will ever make... Get in when Housing hits lows... (or starts to rebound).... Us newbies will be better off than all of those first homebuyers that bought in the last 5 years....
there is no urgency to buy, so I feel there is no urgency to disclosue the housing buffs rules (from a newbie)...
starting next year leading on, I will provide everything there is to know, I will show you how to work out your loan tables with all sorts of variables such as changing payment rates, changing interest rates, loan term, showing how increased payments effects total loan term, etc... I will show all the mathematics behind buying a house and just what you are stacked up against......
I will tell you how to get a mortgagee sale.....
I will describe how to leverage the housing asset... I will pick the best time to buy, and disclose it...(two years away at this stage)...
I will tell you the secrets that the housing buffs know but do not say...
they beat around the bush too much......
But most importantly I will show you the tools you need to know to work out your own individual amortisation table, everyones table is different and you will be able to work my example into your own....
As newbies we have alot to look forward to...
What can you do now to prepare yourselves for buying a few houses at the best time?
in the next few weeks I will start a thread from scratch (if there is demand) on exactly how a future first homebuyer should pursue their path to getting a house, and more importantly how to take advantage of the looming situation where you should pursue more than one house... You should be thinking of Houses not house...
thank you... good day...

[minimoke]

in the next few weeks I will start a thread from scratch (if there is demand) on exactly how a future first homebuyer should pursue their path to getting a house, ....

With all due respect - what do they say: “Those Who Can, Do; Those Who Can't, Teach."

[duncan macgregor]

SHREWDY, Your enthusiasm has got to be commended. Your approach is like a blind man setting himself up to be an artist. The first thing to learn in any new venture is to understand the fundamental basics of what you intend to do. With real estate you take a couple of weeks off work, and sit the REINZ exams in a classroom with other students. The do it at home version teaches you very little, i know having done both. The next thing to do is work with a builder off and on, getting to understand the basics of what you are buying or selling.
Get into your local council, and ask all sorts of questions, get to know a building inspector and tag along with him as a student observor. After all that, you will know how to spot a leaky home, what the building cost is, how the agents are taught, how to write out your own contracts.
Next thing is finance, which should be arranged before you even start looking, never after. The reason for that is, it allows you to negotiate a much lower price if everything is in order for you to can give an unconditional offer. The market has its ups and downs over the years, with real bargains being more plentifull in the downtrends, however the uptrends are where the best bargain is found for the quick turnover for the max profit. The reason for that is the time factor [months not years].
Finance.
1, Always place sufficiant deposit on a rental for the rent to pay outgoings.
2,always get a fixed three year loan.
3, after three years refinance with the same formula, and pocket the difference which should be enough to finance the next property. Dont worry about interest rates going up or down keep it to where you know the numbers.
When you sell its when the market is booming, when you buy its anytime you find that bargain. I know lots of people who do just that who are rich after only holding menial task jobs. The dummies cant see it keep saying you must time the market or you are all going under the market is crashing. Macdunk

[Brut]

MacDunk you said:

2, always get a fixed three year loan.
3, after three years refinance with the same formula, and pocket the difference which should be enough to finance the next property. Dont worry about interest rates going up or down keep it to where you know the numbers.

Why would anyone get a fixed 3 year home loan when interest rates are heading down?

[minimoke]

Why would anyone get a fixed 3 year home loan when interest rates are heading down?

Perhaps because you know precisely what your interest bill is going to be over the next three years. Rather than trying to pick a market in say 2 years time (which might see rates up)

[duncan macgregor]

MacDunk you said:

2, always get a fixed three year loan.
3, after three years refinance with the same formula, and pocket the difference which should be enough to finance the next property. Dont worry about interest rates going up or down keep it to where you know the numbers.

Why would anyone get a fixed 3 year home loan when interest rates are heading down?

It is quite simple really. They might also go up unexpectantly placing you in a high risk position. The golden rule is always know the numbers, never gamble in the unknown doing what is expected. Look at the people getting caught out the otherway.
If your loan after three years is at a higher interest rate the property on average rental would be that much higher. Property is a numbers game. Macdunk

[Crypto Crude]

minimoke-With all due respect - what do they say: “Those Who Can, Do; Those Who Can't, Teach."

Minimoke, thats a load of rubbish...oh well, I will accept your advice and let others to work it out for themselves...
I still want to show the finance behind Loan Amortisation tables, so I will start a thread on that next year.....thanks...

Brut, I totally agree.. Mackdunks theory of fixing the home loan for 3 years, is far from savvy...its a load of hoey, and costly...
Hey Ive got an idea,
If you really want to lock in your payments, Get a 3 year floating interest rate loan, and Send me the difference in cash savings, That way you "know what your interest bill is going to be over the next 3 years"....
Send me a Personal Message, or let me know if you are looking to lock in a those higher interest payments and I will gladly accept the difference between floating (savings) and Fixed (amateurs)...
...
You can get me on...
0800 Call shrewdy, or at www.Imabigidiot.co.nz... I have operators ready and waiting...
You are right Brut, absolute savage behaviour coming from the buffs...

.^sc

[Brut]

SC, I actually wonder how many properties Macdunk has brought or sold over the last 10 years? I doubt that many... I actually think he has just read alot of Investment books???

Locking in a fixed 3 year term may have been good for the past 10 years but times have changed. Falling house prices & interest rates are expected to head down over the next 12 mths. If I was borrowing to buy an Investment property in this enviroment I would only lock in a 6 - 9mth term, then refinace after that.

Everybody is entitled to there opinion so good luck Macdunk on your 3 year fixed loan.