1]. New updated “associated persons” act that I spoke about a few days ago.
If you don’t want to fall foul of the law and become a “tainted” individual, then you really do need to read this, or get your accountant to explain it to you, and soon.
2]. I “won’t be involved in a multi offer situation.”
Well if you ask me, this is just plain stupid.
Buyers, who are obviously 100% “wanna-be” theory investors are the only ones who will verbalise this type of statement.
How do I know that?
Well true investors work to the “numbers” and believe you me they are based on a totally “unemotional” quotient and subsequent calculations.
Their min/max limits are already set based on prior calcs re ROI / interest rates / tax rates / capital appreciation / etc. If the property isn’t available to them at where the “numbers” say it should be, then put simply……. they just walk away.
So based on that I suggest the people making these claims to me are in “fairyland”, perhaps they’ve just got nothing else to do on a Sunday afternoon.
Tell me why wouldn’t you place an offer on a property…on your conditions, you don’t (and won’t) actually know the conditions from the other buyers, but hey what’s the worst thing that can happen……….their conditions might actually not be as favourable as yours, and your offer might even be accepted as the best one!
Oh no, that can’t be right can it………because then you might just have found an alternative formula for purchasing rental properties, and in fact actually buy some properties on your terms……….drat!……..that would result in no need to keep paying that money for extra “advanced” courses now would there? Hmmmm………thinking about that?
3]. How not to get involved in multi-offer situations?
Surely as an experienced individual of the “financially aware” school, you would be mindful that if you want a hot deal on a plasma TV you visit the store on the 30th of the month.
Bigger purchase like a car, house load of furniture, collection of whiteware for your new home…..your absolute number one time of the year to visit a seller of these products is in the last week of March.
Ok I agree, not exactly the easiest thing to time……….but I’m trying to help you here.
That’s just a very basic & simply lesson in retails sales theory / economics. You’ll have a greater chance of success in major chain stores than in non-chain store shops, same as publicly listed (as in sharemarket) Vs smaller privately owned stores.
How, by visiting a potential property during the school holidays. Even more important if the property has just been listed.
School Holidays in the NZ Real Estate market are a time of reduced activity in the volume of numbers coming through the door, phone calls into the office and ultimately, numbers visiting Open Homes. As I have said many times before Real Estate is about Supply & Demand.
Anyway here’s the Good News…..there are heaps of school holidays in each 12 month period, so ultimately you’ve got heaps of buying opportunities.
There’s 2 more parts to this – but as I’ve been getting a bit of flack lately over the length of my posts…..I’ll cut this short here to continue in Part II soon.