patches Posted May 26, 2021 Posted May 26, 2021 13 hours ago, BaGearA said: I wish I was smart enough to understand what you said here 12 hours ago, Bundu Ric said: I liked the colours though.... ???? hahaha sorry gang. I had a random thought in my head one evening, explored where it lead, which was to the colourful graphs, but not to explaining it very well ???? My response to hayleyearth (below) may demystify my random thoughts a bit more. 2 hours ago, hayleyearth said: The start amounts of your 2nd property is a bit unclear to how you get that value. I guess this is more made up to leveraging off your 1st property to be able to buy your 2nd one and nothing to do with what % of income you are actually putting on on the bond of the 1st one, life expenses etc. We are sitting with the decision currently if we should be saving for the 2nd property or put as much into the current bond as we can. Our pay back are scheduled around the 15-17years mark now, but we can either reduce that or use the money to save (invest in additional shares to us as a 2nd deposit say in 5 years). Aaha gotcha! Yeah the grey line tracks what sort of purchasing power one may have at any point in time, but based purely on equity and not on serviceability, because as you noted, life expenses etc vary, and some people may want a 2nd property to rent out while other just want the kiwi dream... "a batch". So for example, 1yr of mortgage payments (on a proactive payment plan, paying off 3.5% of the $800k capital) combined with the capital growth of the property (lets say at 5%) will give one approx $78,000 of equity, and therefore (at the 40% guideline) would enable one to purchase a 2nd property for around $195,000 (total value. $78,000 deposit/leverage and $117,000 loan). The point at wheich the 2 lines meet is when property 1 (initially purchased for $1m) builds enough equity to purchase a 2nd property of equal/similar value. As for the paying off faster, that's a tough one to weigh up if one takes the punt now, especially on emerging markets/areas before the prices get too crazy, or they wait until they carry more equity and make the more expensive purchase down the line. I'm not ready to be a landlord, and I can't afford to have a batch just sitting there, so I'll wait a while ????
davetapson Posted May 26, 2021 Posted May 26, 2021 (edited) What that does show is why buying multiple properties is so popular. The rate of increase of value of property has been so high in the last decade or so, folks have probably jumped the orange line a number of times - you need to add that to your graph... Edit: Capital gains tax / not being able to claim interest as expenses on rental properties will pop that balloon tho - esp. for properties leveraged against properties leveraged against properties leveraged against... Edited May 26, 2021 by davetapson patches 1
patches Posted May 26, 2021 Posted May 26, 2021 (edited) 15 hours ago, davetapson said: What that does show is why buying multiple properties is so popular. The rate of increase of value of property has been so high in the last decade or so, folks have probably jumped the orange line a number of times - you need to add that to your graph... Edit: Capital gains tax / not being able to claim interest as expenses on rental properties will pop that balloon tho - esp. for properties leveraged against properties leveraged against properties leveraged against... Exactly! I think the culture and drive towards multiple home ownership is far more prevalent in NZ than I felt in SA. I'm not sure if it is genuinely that way or if I'm just more aware of it now. I know Mick De Brenni's statement of "Last year [2017], more people bought their seventh home than those buying their first." was fact-checked as false, but the sentiment of what he was trying to say is true. And even more so now. As for amending the graph to show feasibility of buying 3rd, 4th, 5th etc homes, I'll do that if I ever get there ???? In reality though, 2 would be more than I could ever hope for. One family home down on the South Island to live in. One in Auckland as an investment and to keep a foot on this super slippery ladder, because I fear that if I sell up here and move down south to buy something better and/or reduce debt, I may never be able to get back onto the Auckland ladder should I ever need to return (due to employment or the alpine fault line, hahaha) Edited May 26, 2021 by patches
hayleyearth Posted May 28, 2021 Posted May 28, 2021 Any engineers / Project Managers in Australia looking for a job? Or know of anyone there (Victoria mainly or Sydney willing to travel)? PLEASE let me know!!!
hayleyearth Posted May 31, 2021 Posted May 31, 2021 Christchurch..... urgh, we have flights down for this weekend. Anyone know how bad it is in town itself and towards Akaroa etc?
davetapson Posted May 31, 2021 Posted May 31, 2021 (edited) Doesn't seem to serious - 4.2. We were camping in Rotorua in Jan when the 5.1 or whatever quake hit - lying on the ground during an earth quake is a visceral experience to say the least. There was no (or very little) damage in that, so one would assume that whatever was gong to fall over in a 4.2 quake in CC would have already fallen over in previous quakes? Edited May 31, 2021 by davetapson
hayleyearth Posted June 1, 2021 Posted June 1, 2021 2 hours ago, davetapson said: Doesn't seem to serious - 4.2. We were camping in Rotorua in Jan when the 5.1 or whatever quake hit - lying on the ground during an earth quake is a visceral experience to say the least. There was no (or very little) damage in that, so one would assume that whatever was gong to fall over in a 4.2 quake in CC would have already fallen over in previous quakes? Ummm...the rain and flooding...
davetapson Posted June 1, 2021 Posted June 1, 2021 (edited) 4 hours ago, hayleyearth said: Ummm...the rain and flooding... Ah, maybe I should listen to the radio or something... Edited June 1, 2021 by davetapson
patches Posted June 7, 2021 Posted June 7, 2021 On 6/1/2021 at 8:11 AM, hayleyearth said: Christchurch..... urgh, we have flights down for this weekend. Anyone know how bad it is in town itself and towards Akaroa etc? Sorry, a bit late now but Christchurch and Akaroa were fine this past week (and I think the weekend too). We were there Wednesday - Friday. Weather was amazing, floods cleared off the roads. No real issues. Some pics from Akaroa last week... 475, DJR, davetapson and 1 other 4
patches Posted June 7, 2021 Posted June 7, 2021 Warning, the following pics may trigger jealous jaffas ???? Currently down in Queenstown... Remarkables in the morning from the AirBnB Remarkables at dusk as the Luma festival starts up for the evening. One of the forest exhibits at the Luma festival. davetapson, Steven Knoetze (sk27), RossW and 4 others 7
475 Posted June 8, 2021 Posted June 8, 2021 Hello All My wife and I have been toying with the idea of moving to NZ for a while now. Long story short - our timing was a little off with the whole pandemic thing, but we’re “slowly” getting everything together and will hopefully be joining the expat list sooner rather than later. I guess I’m giving a little “heads up”. Apparently networking is the name of the game, so I’m starting off in the hobby forum. Any stories / advice you can share is welcome. Visa sponsored jobs even more so ????
eibmoZ Posted June 8, 2021 Posted June 8, 2021 Hi guys, planning to do the cycle challenge round the lake. Its in Nov. Any experience with the 160km? any recommendations for accomodation? Maybe will take the fam down and take a extra 2 or 3 days to see the area.
arabsandals Posted June 8, 2021 Posted June 8, 2021 11 hours ago, 475 said: Hello All My wife and I have been toying with the idea of moving to NZ for a while now... Any stories / advice you can share is welcome. Visa sponsored jobs even more so ???? Don't pay an agent, unless you have quite unusual circumstances. It is clear enough for you to do everything yourself. Get your passports and birth certificates as soon as possible. Freshen up your Linkedin profile and reach out to companies and people in NZ. 475 1
hayleyearth Posted June 8, 2021 Posted June 8, 2021 We found out this morning that we are going to have a baby boy ???? Both dad and I wanted another girl, but I guess this will bring a new dynamic to the family. And we were bargaining on passing down all her cool clothes (like winter jackets and snow clothes) but now we have to go buy new things... Eish. So can anyone mention something where they found boys are nicer to have that girls? Layla has set the bar high unfortunately. ???? Wayne Potgieter, Zatopek, Rocket-Boy and 5 others 8
davetapson Posted June 8, 2021 Posted June 8, 2021 Congratulations! Just different. You know your nice, well behaved child? Yeah, not that. But will be a lot of fun... and tiring. What you will learn straight away is that this garbage about unisex this unisex that just ain't the way boys and girls work. Boys are boys, girls are girls. Enjoy... Steven Knoetze (sk27) 1
davetapson Posted June 8, 2021 Posted June 8, 2021 (edited) 1 hour ago, arabsandals said: Don't pay an agent, unless you have quite unusual circumstances. It is clear enough for you to do everything yourself. Get your passports and birth certificates as soon as possible. Freshen up your Linkedin profile and reach out to companies and people in NZ. We used an agent, would do it again. Like the man says, if it's simple (you're young, few jobs, few complications, job is easy for IRD to understand), yeah, sure. If you're not, get the agent. The agent knows what to say. Edited June 8, 2021 by davetapson 475 and Steven Knoetze (sk27) 2
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