Today I have put in my first written offer. The place hasn’t even been listed on the Internet because the agent has just been to busy to list it. After spending about a week looking at a lot of different properties, I realise that this looks like a great deal returning around 13.6%.
I spent yesterday morning calling about 3 or 4 agents and everything I was interested in, had already been sold. Email rarely gets answered. It seems like there are a lot of Australians investing money in New Zealand. Personally I still think it is in at least the middle of a boom, not quite at the peak yet, so there could be some good capital gains to be made in the next six months. With no capital gains tax, what more could you want!
Internet sales on my web-sites have also been fairly brisk, December was good and January a little better. This year could see some nice income flowing in. If there are any young people out there trying to get money together for their first deposit, all I can say is learn about the Internet. Learn about e-commerce and affiliate programs. They can be very lucrative.
My bigger venture for the year, selling Australian real-estate to Japanese is developing slowly, but I think I can devote more time to it after I get my first investment property in New Zealand.