Should I pay my own Home off First, before my Rentals? by Graeme Fowler

Disclaimer: Nothing is this article is meant to constitute financial advice of any kind, and is the opinion of the author only. Seek professional advice before making any financial decision.
 
This is a question that comes up at times when talking to other investors about property investing and the debate about P & I vs Interest Only loans.
 
Logically and financially it makes more sense to pay your own home off first and as soon as possible, while having your rental property loans on interest only. The reason being you can claim interest as an expense for tax on a rental property, but not on your own home. So why would you want to pay off any principal on your investment property loans while still having a mortgage on your own home, if you’re not able to claim that interest? It makes sense from a financial perspective and because of this, investors will often begin this way with their investing. I used to talk about this with other investors 15 years...
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What’s The Real Estate Market Doing!!!!???? by Graeme Fowler

Disclaimer: Nothing is this article is meant to constitute financial advice of any kind, and is the opinion of the author only. Seek professional advice before making any financial decision.
 
If you’ve ever played the board game Cashflow 101 or 202, you will know that in order to win the game, the first thing you need to do is get out of the ‘rat race’.
 
The ‘rat race’ in the game is a circle where you keep going around and around and around until you are able to get out onto the ‘fast track’. This is where the game suddenly gets fast, exciting and a lot more money is made, but first you need to escape the ‘rat race’.
 
How do you get out of the ‘rat race’? You do so by getting to the point where your monthly cashflow without your job (passive income) is greater than your monthly expenses. There are a several ways inside the game to be able to do this, buying investment property is one of...
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The Pitfalls and Stress of Goal Setting/ Planning by Graeme Fowler

How many times have you been told you need to set goals and plan for your future?
 
One of the most common methods of goal-setting is the SMART goals – Specific, Measurable, Achievable, Realistic and Time based, i.e. the goals are to be achieved in a certain time-frame. Brian Tracy was another one that had all these specific ways and methods he would teach that would help people achieve their goals.
 
For me, I used to be very focused on goals, working hard to achieve them, and then setting new goals. One overseas seminar I did over 10 years ago was 3 days just on goal-setting and cost over $10,000 to attend. During the next year or two I did achieve the goals I had set at the time, however I started thinking – why wasn’t I happy when I achieved a goal, or if I was – why was it so short-lived? The answer I thought was to either set a new bigger goal or do it in a faster time. I remember being at the course and one of the goals was to own...
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Mindset by Graeme Fowler

Mindset
 
What do you think would be the biggest blocks to someone’s success in real estate investing?
 
 
Some may say their lack of experience, or funding issues, possibly not having enough agents to find them good properties, and others may say it’s the market itself - not doing what they want it to. All sorts of reasons as to what’s stopping them from getting what they want.
 
These all sound like they could be valid reasons they believe are holding them back, but personally I think it all comes down to just one thing – their own mindset.
 
I believe someone’s mindset and beliefs about certain things will either help them succeed, or prevent them from succeeding. When you have your mind set in a way that helps you rather than hinders you, everything seems to flow easily and effortlessly.
 
To give you an example of how this works, think of all the radio stations in Hawkes Bay that are now playing in the...
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What Could You Do with $60,000 cash? by Graeme Fowler

Disclaimer: Nothing is this article is meant to constitute financial advice of any kind, and is the opinion of the author only. Seek professional advice before making any financial decision.
 
This question was asked to 5 of us for the NZ Property Investors’ magazine for an article.
Below is my answer to it, however it was only supposed to be 400 words, so here it is in full:-
With $60,000 in cash, there’s quite a lot you could do without too much risk.
 
However it does depend a lot though on your strategy, your plan, your own financial intelligence, and how risky you are as an investor.
 
Lots of people use risky strategies that will most likely cost them everything in the long run. They try to pick which area to invest in, in other words - what locations they think will go up in value. They invest with assumptions, hopes and wishful thinking, not with logic and common sense.
 
It doesn’t even come into my thinking as to...
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Important Resources and Tools for Property Investment in NZ

In this training video Arn shares the valuable resources which provide a stack of information to help you source the right properties!
 
 
** (This video is an excerpt from AssetLab's Masterclass 'Important Resources and Tools' taken from Module 3 ) **
 
 
If you want to hack the learning process and get EVERYTHING in one place for a fraction of the normal cost of programs, check out the AssetLab's Masterclass HERE. It is a game changer.
Any questions? Ask away on the Facebook Forum.
Now, onward into the property world!
 
When you are ready, here’s how we can help you succeed:
 
Join our Facebook page for free training, updates, and chat.
 
Join us at an upcoming course or workshop. Subscribe to stay in the loop or check out our homepage: Events on our Homepage.
 
Get in touch for a chat about how we can help you with our selections of programs and coaching...
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Investor Mistakes: If I can find my own properties, I can do my own mortgages!

If I can find my own properties, I can do my own mortgages!
 
Disclaimer: Nothing is this article is meant to constitute financial advice of any kind, and is the opinion of the author only. Seek professional advice before making any financial decision.
 
Stuff It Up Strategy:
It all started when you went direct to your bank for your first home loan. You bank with the Red Bank so you go see the Red Bank, and the Red Bank gives you a Red Bank mortgage, based on their calculations on how much you could borrow at rates that they are currently offering.
The Blue Bank might have been able to lend you more, the Yellow Bank might have been able to give you a better rate, but Your Bank is Your Bank and of course having banked with them for years they will look after you. Red Bank all the way!
 
After a while, your incomes go up a bit, and the equity in your home increases and you decide to take that first step into property investing. Time to...
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$32,000 profit on first ever Auckland property trade/flip ($385,000 purchase!)

Disclaimer: Nothing in this article is meant to constitute financial advice of any kind, and is the opinion of the author only. Seek professional advice before making any financial decision.

$32,000 Gross Profit on a $385,000 purchase (yes, in Auckland, and yes...Three bedrooms in a decent area).
 
Are you a numbers person or a pictures person?
 
Well, here's both.
 
Check out the awesome transformation in the photos for this trade in Manurewa.
 
First, check out the numbers (all numbers GST exclusive):
 
Purchase Price: $334,783 ($385,000 incl GST)
Sale Price: $434,783 ($500,000 incl GST)
Renovation Costs: $33,000
Holding Costs: $10,500 Solicitor Costs (x 2 total): $3500 Rates, Insurance,
Other: $1000 Agent Fee: $20,000
Total Costs: $68,000
Profit (after GST is paid but before tax is paid): $32,000
 
Not bad for a first-time trade aye!
 
 
Outside of property...
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