Posts Tagged ‘David Whitburn’

With the results of the election out, I am very happy to see that there will be no introduction of a Capital Gains Tax for property and business owners, as well as no ring-fencing of tax losses brought in for the tens of thousands of property investors that make tax losses on their portfolios.

These were an important part of Labour’s Own Our Future policy.  Not only did the majority of voters reject them on Saturday with Labour’s lowest polling in their 95 year long history, but Labour’s campaign strategy team (led by Trevor Mallard) pulled any mention of these for unpopularity reasons in the leaders’ debates, and Phil Goff focused on stopping asset sales instead.

My take on introducing CGT is that if it wasn’t political suicide why then didn’t Helen Clark and Michael Cullen implement them in their 9 years of Government, particularly after Labour crushed a weakened Bill English led National Party in 2002 (National got just under 21% of the party vote back then).

 

Capital Gains Tax is a poor policy that “would lead to hoarding of property, would take a long time to have any effect and would discourage property investment and push up rents”.

Ring-fencing tax losses isn’t political suicide as most people don’t understand it – however this is the very policy Bob Hawke (PM) and Paul Keating (Treasurer) implemented for the Australian Labour party in 1985, only to rescind it 2 years later in face of their supporters backlashing against higher rents.

Labour will need to learn that you can’t legislate into prosperity half the population, by striving to legislate the ‘rich’ out of prosperity, hence the attempts at demonising John Key as a merchant banker with no social conscience and envious attacks based on his wealth.  Looking at the National led Government, with support from ACT (John Banks) and United Future (Peter Dunne) guaranteed, there are 62 votes, with a maximum of 59 votes against them.

It is likely the Maori party (3 seats – Turia, Sharples and Flavell) will however play an important part in Government to give 65 seats for, 56 against, as National need to look at multiple coalition partners to retain power in the 2014 election.  As a result the policies of the centre-right including the status quo of having no Capital Gains Tax and no ring-fencing of tax losses will remain in place.

Lets look at what this means for property investors.

Impact on Property Investors’ Cashflow

Slightly Positive - there will be cashflow gains from a stronger economy that doesn’t take on as much debt as Labour would for its increased Government spending campaign. After the very dark clouds over Europe move away, business confidence will be restored, hiring will begin and with National’s more friendly employment policies (eg. not raising the minimum wage to further punish elementary or semi-skilled younger workers), there should be higher employment.

This in turn will lead to steady rent increases and hopefully a reduction in the amount of cases going to the Tenancy Tribunal – The Department of Building and Housing tell me approximately 75% of cases they hear are for rent arrears.

Auckland’s constrained housing supply with the large costs of development and urban limit will be maintained. Perhaps the most entertaining thing would be to have John Banks as Minister of Local Government, or Minister for Auckland to keep an eye on the Supercity Praetor Len Brown.

Almost perversely Labour’s ring-fencing of tax losses policy would have meant a number of investors would have sold their properties, and this would have reduced supply increasing rents even further. This would have been a nice cashflow transfer payment as the middle and lower income New Zealanders would have been given transfer payments (increased benefits, accommodation supplements and such like). A lot of property investors love Labour – just look at how well the property market did in 2002 – 2007.

The most important thing though is not to have NZ given a Sovereign credit downgrade again, as this would push up interest rates and restrict access to credit that help underpin property as an excellent investment choice for many.

This means the Government will have to look closely at borrowings, and I believe have to revisit the retirement age of 65, which is simply too early in this day and age.  It was fine when implemented in 1898, but in 2011 people live a lot longer with medical, pharamaceutical, healthcare and diet advances and a more sedentary lifestyle with lower rates of smoking (both my grandmothers were in their 90s when they died).

Other good news is that the Tenancy Tribunal will be less busy and have shorter wait times with redirection of Government transfer payments (benefits and accommodation supplements), so they are paid directly to landlords.

Since Housing New Zealand has limited funds, many Landlords take up the slack and invest in lower value areas providing a kind of social housing service to tenants. It is great to be paid by the Government who are generally far more reliable than individual low income tenants. Up until now this has been up to the discretion of individual WINZ case managers. From speaking with many other APIA members who hold a number of properties, tenants couldn’t say the landlord wanted the rent direct credited, the best way was for the tenant to say something like: “I struggle in paying my rent, so would really appreciate you helping me out by paying my Landlord directly”.  Some Tenancy Tribunal waiting times for a hearing have been unacceptably high – so this will be a welcome respite.

Impact on Property Investors’ Equity

Neutral - The status quo is being maintained and other market drivers are more at play.  Capital Gains Tax and ring-fencing of tax losses would have reduced house prices, as investors sold off properties because of the tax impacts.  This would in the long-term equal out, but not without short and medium term pain.  I think the National Party should have said that if CGT were introduced that they would rescind it when they returned to power as it is not part of a more aspirational and brighter future.  The real equity gains come from another boom in a property cycle.  That is not anytime soon.  However a recovery is already underway in some parts of Auckland, particularly in the higher decile areas led by home-owners and immigrants into Auckland.

Final thoughts on the election

Whilst I still prefer a four year election cycle to better encourage longer term thinking, we have a three year cycle and the popularity contest means Labour have a lot of work to do to win the 2014 election, including getting a new leader more palatable to the country and to move that party towards the right to get votes off National and NZ First.  The poorly worded and overly confusing voting system question for the referendum should have simply asked which voting system do you prefer and listed 4 or 5 choices.

Some polls were remarkably accurate, others didn’t fare so well.  John Key’s “show me the money” line to Phil Goff on how much revenue CGT will bring in was a highlight of the campaign, and the poorly handled teagate incident at Urban Cafe in Carlton Gore Road, Newmarket was a lowlight.  It also brought back Winston Peters and Andrew Williams who some in the media have affectionately termed the “leaky mayor”.  It will be interesting to see the impact that NZ First have in Parliament.

The recovery of our great nation’s economy is what we are striving for.  The economy underpins our housing market, not the other way around despite what others may tell you.  When our economy is performing strongly, there is good money to be made in being an accommodation service provider.  Congratulations to all those elected MPs, to National on winning another election, the Green party for getting their highest party vote ever and to NZ First for returning from the dead.  All the best to Phil Goff and Don Brash for the future as they step down from the leadership of their parties, and best wishes to their replacements.  Now we have voted in a Government and they will try to support and improve the system and framework we have to live our lives – the hard work is now up to us to live and improve our lives.

Disclaimer: All information provided in this blog is provided on a best-endeavours basis, and is generic information. It doesn’t constitute financial, legal, accounting, taxation, building or any other advice. The author encourages all readers to obtain the appropriate financial, legal, accounting, taxation, building or any other advice from a suitably skilled professional before making any decisions that could impact you financially.

I just love Australians. Their confidence is rivaled on a global scale by perhaps only Americans. I love how they celebrate their wins and how their media berates and ridicules all opposition.  Their media had booked them into the final, and recounted stories of great All Black Rugby World Cup chokes (1991 vs Australia, 1995 in the final vs South Africa with a ‘dream team’, 1999 vs France, 2003 vs Australia, 2007 vs France). There was a picture of Wallaby winger James O’Connor standing over the Kiwis in a Queensland newspaper and picks from Wallaby greats of a famous Australian win. Some Aussies had already confirmed their victory.

Congratulations to the Mighty All Blacks

In an epic battle last night, we conquered our demons and beat Australia in a crucial Rugby World Cup match. It was beautiful and our mighty nation, especially Auckland partied and celebrated success and excellence. We won the game 20 – 6 over Australia.  It was over by half-time at 14 – 6 with the the Wallabies mentally defeated at the All Blacks fortress Eden Park.

A stadium in which the All Blacks have not lost at since 1994 (we lost to France back then with a try ‘from the ends of the earth’ – I was there back then and marvelled at the French attacking prowess). We had South African fans walking to Eden Park in their Springbok rugby jerseys carrying All Black flags, and tens of thousands of people wearing black to support our team. There were a few thousand Australians in their gold jerseys too, but they were totally drowned out by the All Blacks fans in a sell out crowd of just over 60,000 people.

Features of the game

The game had a huge anticipation with a very nervous crowd and country, hoping we didn’t stuff up and could play to our potential.  We did this and Australia did not.  Quade Cooper started the game with the first of many of his mistakes, kicking the ball out on the full. Australian coach and former All Black Robbie Deans erred by not pulling Cooper off after around 20 minutes.  It was plain for all to see that he was not on song today. Why Matt Giteau was not in the Australian squad is something for Wallaby Assistant coach David Nucifora to answer, but his stability and experience would really have helped Australia in the pivotal first-five eights position.  That was a mistake and Deans should’ve worked a way to end the feud those players had.  Then the Australian tactic of giving away possession by peppering Cory Jane and Israel Dagg with high kicks was just bizarre.  You only had to look at Super 15 matches and previous tests to realise these players and left wing Richard Kahui are extremely competent at catching the high ball.  This was a total waste of possession. Questions should be asked by Australians as to why Deans didn’t instruct this tactic to stop sooner, and at least why he didn’t get the team to value possession in the half time speech.  Deans proved once and for all that he was not the right choice of coach for the All Blacks and next week the NZRFU will confirm how wise their appointment of Graham Henry was despite the 2007 Rugby World Cup quarter-final loss.  For the record I think Graham Henry is a true tactician and mastermind and his record is truly amazing.

Top players and the crowd

The All Black forwards were too strong up front with a dominant scrum that caused the Wallabies many issues and penalties against them.  David Pocock is a great player (I would argue the best openside flanker in the world), but he was largely rendered useless yesterday, and Will Genia and Quade Cooper were doing it tough on backfoot ball.  The All Blacks were too strong and denied the Wallabies possession – game, set and match! For the All Blacks my top players were Jane, Dagg, Kaino, Mealamu and Cruden.  For the Wallabies their fleet-footed speedster James (‘Bieber’) O’Connor, Ioane and Pocock played well.

Even their superstar young winger James O’Connor couldn’t inspire a victory for Australia.  The crowd support was immense.  Some of it wasn’t pretty like the chants of “Cooper’s a [t]anker” (ok something that rhymes with that word), and “you f%^ked up, you f%^ked up” along with the crowd getting carried away after a massive All Blacks scrum destroyed the Wallabies to give us a penalty, which Piri Weepu dutifully kicked over to stretch the lead to an essentially unbeatable 20 – 6.  Brad Thorn pumped his fist and engaged the crowd who started the “four more years, four more years” chant at the Australians. These sledges continued out into the streets of Auckland, through the night as fireworks were lit, ships horns were blasted in the Waitemata Harbour and hundreds of thousands of Kiwis in the streets, pubs and venues all over the world celebrated.

Time to prepare for the Rugby World Cup Final

What a game! What a victory! The focus moves to the rugby world cup final vs France this Sunday night – were we hope to repeat history at the home of rugby, Eden Park, as New Zealand strives to winning their second rugby world cup crown, like the mighty 1987 team did. Check out this video below to get you ready for next weekend’s rugby world cup final:

As a short announcement, I want to let you all know that I have sold my shares in NZ Wealth Mentor Limited to David Leon.  The terms of this arrangement remain confidential.  I will be supporting NZ Wealth Mentor and its clients in the transition and appearing at Property Masterclass on October 29-30th 2011. I have recently moved out of their Khyber Pass Road premises and wish David Leon success as he runs NZ Wealth Mentor himself in the future.

I resigned as a director in early-mid March 2011, so there is no change on that front.  I have been invited to the Advisory Panel of NZ Wealth Mentor (this is definitely not a directorship) where I will provide some technical content to some of their property events.

Going forwards I am focusing on my own investments and also on providing quality generic property investment education by courses with www.positivepropertyinvestment.co.nz.

My book - in all leading bookstores this week

My book writing journey

I am delighted that my book Invest and Prosper With Property has been released into bookstores. I started writing the manuscript for this book in January 2010 with the purpose of answering my friends and family members questions on how to invest in property successfully.  I wanted to do a good job, so I decided to give a broad coverage of all property investment topics. After several hundred hours of work had been invested I decided I would like to have it published so I didn’t just sell a few hundred copies or have to give them away. I made the decision to seek out the services of a professional publisher. My friend Amy Hamilton-Chadwick was a professional editor and she edited the manuscript and gave me excellent feedback to make it more readable.  Then it was time to brief out my manuscript to publishers and having been told by so many people about how hard it is to get a big name publisher behind you I was expecting it to go the way of most of my offers on properties – rejected.  This was a most pleasant surprise to me and full credit to Jan Riley of Random House who introduced me to the publishing team.

I was most impressed with the professionalism of Random House from the outset, with their large Auckland presence, an enviable list of best-selling books, and their reputation as one of the very best non-fiction publishers (as well as fiction publishers) in New Zealand, and worldwide.  So I choose them and Random House have been excellent in distributing my work through bookstores nationwide.

Topics covered in my book

There are number of topics covered in my book as it is designed to function as manual for those wanting to invest in property or for those who already invest in property and wish to keep their knowledge up.

Chapter Line-up

1. Why should I invest?
2. Why should I invest in property?
3. What do I need to know to get started?
4. Could I really become seriously rich?
5. Should I buy commercial or residential property?
6. What do I need to know to be a great investor?
7. What kind of goals should I set for my success?
8. What investment strategy is best for me?
9. How to get a great deal
10. How to find great properties
11. How do I check out a property?
12. How do I structure my property ownership?
13. What do I do about paying tax or getting tax rebates?
14. How can I find the money to invest in property?
15. What is a revolving credit or offset account?
16. Fixed vs Floating interest rates
17. How can I save money on my mortgage?
18. What type of loan is right for me?
19. How to structure your loan
20. What do I need to know about accounting and taxation?
21. Depreciation: making it as simple as possible
22. Renovate, redecorate and revalue
23. What do I need to know about valuations?
24. Keeping your investment safe
25. Managing your property
26. How to minimise the risks
27. Don’t derail your own success
28. How to prepare an offer
29. Due diligence
30. Education
31. Useful websites
32. Glossary
33. Index

Sunday Star Times Book Review

Leading financial journalist Greg Ninness of the Sunday Star Times reviewed Invest and Prosper With Property in today’s business section:

OF ALL the useful advice contained in David Whitburn’s book Invest and Prosper With Property, one particular paragraph stands out.  It is a section of the second chapter which asks if property investing will be hard work. ‘The short answer is yes’ the book says…

Whitburn now works as a property mentor and is the president of the Auckland Property Investors Association.  The book draws on his experience, and of others he has seen succeed or fail, to provide a guide that should help investors avoid many common pitfalls and structure their activities in a way that will help them succeed.”

Where do I buy Invest and Prosper With Property?

Now this is available in all good bookstores nationwide with official release date being Friday 7 October 2011, but some bookstores have it already.  This is also sold by a few international online bookstores including a couple of physical bookstores in Australia too. Very shortly the book will be for sale on www.investandprosper.co.nz.

I think it will be an excellent investment for anyone wanting to improve their knowledge on property investment at $37.99, so firmly recommend that you buy it.  I also hope that you enjoy reading it as much as I enjoyed writing Invest and Prosper With Property.

David Whitburn – 2 October 2011

There are a number of international issues impacting property investors and business owners currently. These include:

• Greece’s debt crisis – Greece had its sovereign credit rating downgraded 3 notches from B to a total junk rating of CCC by Standard and Poors this week.  They are looking likely to default and will need an European Central Bank loan, investors in Greek Government bonds to take a hair cut, combined with Greece’s efforts of implementing higher taxes and slashing Government expenditure (hence the massive scale riots in Athens this week).
• weaker Australian job growth - Australian employment numbers released last week showed 7,800 jobs were added in May whereas 25,600 where expected.  Australia’s unemployment rate stayed at 4.9% (New Zealand is at 6.6%, USA is struggling still at 9.1%).  The Australian Dollar has been hit by international markets because of this.  The other impact is that this means the Reserve Bank of Australia is under less pressure to have the RBA raise the cash rate from 4.75% over the coming months.
• Japan’s continued struggles – these have been compounded by their devastating 9.0-magnitude earthquake and ensuing tsunami that devastated the north-east cost of Honshu Island on 11 March this year.  I watch CNBC a fair bit and note the comments by their Japanese correspondent, economist Takuji Okubo who has warned of political unrest in light of Japan continuing to have the highest level of public debt of all developed countries at over 200% of GDP.  Combined with deflation persisting, a reliance on exports to drive growth, and an aging and shrinking population are major long-term challenges for the economy.  The IMF has predicted Japan’s growth to shrink by 0.7% this year.

There is confidence coming back to NZ businesses, and the rural sector continues to be buoyed by very strong commodity prices. There should be an excellent turnout (well over 100,000 people) at Fieldays in Mystery Creek, Hamilton this weekend.  The NZ housing market is again being led by Auckland with another quarter of stronger sales, and prices having risen 4.1% in Auckland in the past 3 months.  Construction is heading into a deepening recession.

From meeting with Presidents at other property investor associations from around the country and looking at the QV and REINZ regional data, outside of Auckland house prices are essentially doing nothing.  Rents are moving up strongly in Auckland, and you are likely to be under-renting your 3 bedroom house in South and West Auckland if this is rented at less than $350/week.  With the OCR staying at 2.50%, there were fears of inflation meaning this would have to rise by the end of 2011. Whilst this of course could still happen it is less likely to in light of yet another significant Christchurch earthquake.

On Tuesday the 12th of April, international super investor Kevin Green lands in New Zealand.  He is delivering a very special event in Auckland with leading education company NZ Wealth Mentor with two full days packed with practical strategies and tools delivered by a master of property investment, on Saturday 16th – Sunday 17th April 2011. Kevin is scheduled to be on TV One’s Close Up on Wednesday 13th April at 7:00pm talking live with Mark Sainsbury about this successes and thoughts on how you can improve your life as he did.  Learn how Kevin went from being an unsuccessful dairy farmer to becoming one of the largest private landlords in the United Kingdom with almost 400 properties to his name worth around NZ$80 million in just over 12 years.

KEVIN GREEN: The BBC Secret Millionaire Star with nearly NZ$80 million portfolio

Here is Kevin Green on the BBC Secret Millionaire programme:

Kevin was star of the hit BBC series The Secret Millionaire. He is the largest Social Housing landlord in the UK and he runs one of the most successful lease options businesses in the world.  His lease options strategy to success is definitely worth the ticket investment. His other specialty is asset stripping and he will explain how he made his first $250,000 using this strategy, and much more more so you can profit from this method too.

Kevin Green’s Property Profit Strategies event is all about giving you an easy to follow action plan to improve your cashflow.  This event is sold out apart from the Auckland Property Investors’ Association special ticket allotment.  However there is a wait list for tickets as we had a number of booking from Christchurch prior to the devastating February 22nd earthquake, and if anyone can’t make it NZ Wealth Mentor is issuing full refunds if you are unwilling or unable to attend, which could free up a ticket for you.  In addition there is a small chance APIA members will not take up their allotment, so please don’t call me about this, just simply go to the booking page and click the put me on the waitlist button immediately. 

So whilst the sold out signs are up, there may be a few tickets given to those on the wait list, so please don’t give up as we are doing our best to accommodate everyone. Leave you name, email address and phone number and we will contact you if a ticket becomes available.

Kevin Green at APIA

Finally Kevin Green is talking to the Auckland Property Investors’ Association on Tuesday 12th April.  What can you learn in just 55 minutes?  Quite a lot.  This will give you a taste of what Kevin Green and NZ Wealth Mentor are about. We have sponsored this meeting and have 50 tickets that we negotiated with APIA as a special allotment for the Kevin Green event.  So come to APIA to hear from the investor with the largest residential property investment portfolio that we have ever had present to our members since APIA’s inception in 1995.

I appeared live on Close Up on TV1 on Wednesday in response to the “rental crisis” hitting Auckland. I let the host Mark Sainsbury know that this is in response to the supply and demand equilibrium, and that it is the inner suburbs of Auckland like Herne Bay, St Marys Bay, Ponsonby and Parnell that are the most effected, and in the Green Room before hand that rents are rising steadily but at lower levels elsewhere in Auckland too.

David Whitburn and Mark Sainsbury live on TVNZ's Close Up on 9 March 2011

David Whitburn on Close Up

It was an interesting experience and I felt comfortable with Mark’s knowledgeable questions and his producer’s professionalism as they screened me at lunchtime and took me from reception to the makeup room (for a light powder). Then I went to the Green Room along the corridor from the live studio.  After watching the tearjerking first article of Michelle Rambaud who is terminally ill and got married in hospital in the Green Room, I was escorted to the live studio. Then it was showtime. I start 3 mins 36 seconds through it (so feel free to scroll through until then):

Where rents are heading?

Rents are heading upwards in Auckland, based on underlying demand and some restrictions on supply with us underbuilding.  Only 15,602 building consents were issued last year and we needed to see over 25,000 to just keep up with population growth, let alone cater for people moving up from Canterbury in light of the horrific earthquakes.  The councils charging what they do with the comparatively new development contributions and the illogical denial of minor dwellings or granny flats in the previous Auckland City boundaries (ie. Avondale and Blockhouse Bay to the West, Otahuhu to the South and Glendowie in the far east), as well as the difficulties in getting construction and in particular development project finance, have all contributed to this.  Also many people are happy being tenants as they can live in a nicer area with the costs and perceived inflexibility of home-ownership.

Last APIA rent review

At the last APIA meeting as MC I decided to do a rent review and around 15 members put their hands up with properties they have let. Not a single member had lowered their rents and many had raised them quite significantly. From talking to NZ Wealth Mentor clients as well as property managers in Auckland and around the country I know that all of them are looking to raise their rents and the 6 month lock out under the Residential Tenancies Act 1986 is one of the main things preventing this.

In South and West Auckland there are stories of over 10 different prospective tenants wanting to rent properties and it is not hard to get at least a $20/week rent increase currently. In areas like Mt Wellington and Onehunga investors are raising their rents $40/week and when tenants complain to check what the rents are they are putting up with it, or leaving and the investors are finding that they can get even higher rents when they try to put on a higher price on TradeMe rentals. The mini boom that I predicted for the end of this year, has begun early!

I subscribe to Statistics New Zealand’s relevant property, housing and financial information, and was not at all to see the value of all building consents down to $537 million, which is the lowest value for any month since February 2002.  Obviously monthly statistics are not reliable as the months either side could be big months.  However the simple fact that building consents are low is best shown with a graph of residential building consents (excluding apartments which are impacted heavily by another market driver – the availability of finance).

Source: BNZ. Residential Building Consents (excluding apartments) Jan 1997 - Dec 2010

We are said to need over 25,000 building consents per year, which is over 2,000 per month.  We are struggling with around half of the consents issued to what we need currently.  The trend is shown with information going back from 1997 to December 2010, with the navy blue line being the line to watch as it is more like a 3 month rolling average clearly showing the downturn in the property market which started in 2007 and we are still in it currently.

Going back to the statistics released a little earlier today, the value of residential building consents was $309 million – down 19% from January 2010 and the lowest value for any month since January 2002.  There will actually be a large number of new (but with more stringent engineering and geotechnical requirements) building consents in light of the 22 February 2011 Christchurch earthquake.  Hopefully this will be tagged out by Statistics NZ so I can share this with you in my future blogs.

On a stunning summer’s day yesterday at the well appointed Exhibition Hall in Waipuna Conference Centre, overlooking the Panmure lagoon, I was the keynote presenter at Property Masterclass run by NZ Wealth Mentor.

David Leon - Property Masterclass Master of Ceremonies on 27 November 2010

I covered a lot of topics as the keynote presenter, and those attending particularly enjoyed my take on the market, drawing attention to where we are at in this current stage of the property cycle and my predictions for the future in terms of the various Auckland sub-markets.  I gave a thorough analysis of all of the key market drivers, showing and interpreting graphs from the economics and research of the major trading banks, Reserve Bank of New Zealand, Statistics New Zealand, Quotable Value and the Real Estate Institute.

In another segment on stage I talked about how we as investors are running a property business and the fact that we have to wear a number of hats.  One of the leading property educators in the United Kingdom Gill Fielding talked about the importance of being skilled in a number of different disciplines wear you have a number of buckets to control or hats to wear.  I love this analogy so I talked about the various hats we have to wear as property investors in terms of the CEO hat – managing everything in our business; CFO hat checking our bank statements, keeping accounts, monitoring the financial performance of our portfolio, paying taxes, Renovations/Maintenance hat – looking at how we maintain our very valuable assets and renovating to increase our cashflow and equity; Legal hat – when doing due diligence on properties, looking at legislation changes and ownership structures; and Property Management hat on – where you have to manage your tenants or your property manager, to ensure you minimise vacancies, charge market rent and collect your rent and take the appropriate action when tenants are not behaving,  I also covered ownership structures, including the key changes in light of LAQCs losing their potency in that they lose the ability to offset losses against personally earned income.  The new tax structure the Look Through Company (“LTC”) was introduced too, with Chartered Accountant and my colleague from Deloitte Tax many years ago Amanda Macdonald (Tasman Tax and Accounting Services based in Albany) also presented on this topic being the tax and accounting expert she is.

Finally I gave covered my opinions on US tax deeds and liens that have been promoted in New Zealand heavily over the past couple of years, and I covered the good, the bad and the ugly things about lease options, giving an example of the massive win-win situation created in my last lease option deal that resulted in my tenant buyers settling the property and giving me a giant hug as they achieved their dream of being home owners in New Zealand, as well as the sheer joy of meeting their goal.  I also enjoyed presenting on the strategies I am using in today’s market and covered my revamped and intense mentoring programme where I take my mentoring clients out to do deals with me.  I have some new clients from this event and am looking forward to training them shortly.

Other speakers

Senior Resource Management lawyer Andrew Braggins talked about the spatial plan for Auckland the Supercity, which highlit the growth areas in the Auckland region, major infrastructure and planning thoughts from the head planner and CEO at Auckland Council, who are in Andrew’s network.  This presentation was enjoyed by attendees who were impressed with Andrew’s knowledge and communication skills, as he enlightened them about the hot spots in Auckland.

Andrew also briefly covered how to dispute council fees, levies and contributions both under the Building Act (including seeking a determination from the Department of Building & Housing) and also the Resource Management Act (including a judical review application he recently did on a property he rents out).

Jan Galloway then gave a masterclass in property management, including listing out the issues in relation to the Residential Tenancies Amendment Act with the fines for unlawful acts by Landlords and Tenants all covered – luckily these were included in the comprehensive bound manual we gave our event attendees.

Renovations expert Mark Trafford told attendees about a number of ways not to do renovations in a photo driven presentation.

Gary Hey, a director and shareholder of large mortgage broking firm, Mortgage People, then address the property cycle from a finance perspective.  He talked about how lenders’ criteria are changing and it is much easier to get finance for property now (compared to say 6 months, 1 and 2 years ago).

On Saturday the 27th of November 2010 I will be the keynote presenter at NZ Property Masterclass – a full day seminar at Waipuna Hotel & Conference Centre in Mt Wellington, Auckland (near Sylvia Park on the edge of the Panmure Basin), with standard tickets at just $29, and gold tickets at $98.

Improve your financial knowledge, get updated on the current market and learn what strategies I am using for wealth creation for the remainder of this year and in 2011.

My topics covered

Come hear me present live at NZ Property Masterclass event, where I will be talking about:

• Loss Attributing Qualifying Companies (“LAQCs”) being abolished and introducing the new tax structure, the Look Through Company (“LTC”)
• a Market Update with my opinions on where the market is heading for 2011 backed up by graphs and facts
• the untold truth about US Tax Deeds and Liens to follow up from my popular blog in March
• the good, the bad and the ugly with Lease Options, and a number of lease option promoters
• how you can create wealth in 2011, using the strategies I am successfully using on NZ properties in the current market.

Also included in the low $29 ticket price is access to 5 other fantastic speakers.

Your other speakers

Speaker #2:  ANDREW BRAGGINS  LL.B, BSc - Buddle Findlay

1. Local government, environment & resource management, litigation and dispute resolution expert
2. Andrew advises a range of clients, including developers, network utility operators, local authorities and financiers
3. Andrew has an in-depth insight into how local authorities work, having spent 3 years as a local government in-house council, and acting for many councils
4. Member of the Resource Management Law Association & Water NZ
5. Barrister & Solicitor of the High Court of New Zealand

Learn all you need to know about how to deal with councils, the structure of the new Supercity and the Supercity’s impact on you as a property investor.

Speaker #3: JAN GALLOWAY  BA Cert. Crim (Criminology) - Corinthian Management

1. Principal Corinthian Property Management
2. Over 25 years as a property manager
3. Multi-millionaire property investor
4. Managed a leading central auckland property management division
5. Auckland Property Investors Association Board Secretary
6. Multiple award winner (property management related)

Jan knows all you ever needed to know about tenancies and the issues that arise from them.

Speaker #4: MARK TRAFFORD - Owner of Renovate to Profit

1. Principal of Renovate to Profit and Maintain to Profit
2. Renovating properties for over 20 years!
3. Accomplished Property Investor
4. Regular Contributor to Property Investor Magazine
5. Sought after speaker

Mark is an excellent property investors knows everything there is to know about renovating properties having done many dozens of properties.  He is an excellent project manager with unparalleled networks of quality tradespeople.  Join us and learn more about creating wealth through smart renovations!

Speaker #5: GARY HEY BCom - Mortgage People

1. Owner and Director of Mortgage People, a leading Auckland based mortgage broking firm
2. Bachelor of Commerce, member of the NZ Mortgage Brokers’ Association
3. Commercial, Industrial and Residential developments advisor as well as residential investment properties financing expert
4. Sought after speaker having a background in education

The banks and other major lenders criteria are changing and it is easier to get finance for property now.  Gary loves finding funding for your deals.  Bring on your best questions forward and he and his team will be there to assist you.

Overview of key topics covered during the day

1. The current market cycle – using current & historic data to identify our current position & determine where, when & how to purchase your next property deal
2. LAQCs & LTCs & what it means to your investment portfolio
3. Practical strategies to increase your rent easily in the current market
4. Hot strategies for 2011 – the strategies NZ Wealth Mentor’s principals and mentoring are using to make money from NZ property today, and how you can meet your financial goals in 2011
5. Understanding the new paradigm for obtaining finance – How to get banks to lend you $$
6. Where are the best strategies to use in 2011?
7. The untold truth about US Tax Liens & Lease Options – what you must know before you ever think of investing on them.

We will discuss all the current hot topics so that you can leave the event well informed and ready to invest successfully.

2 Ticket Options

There are standard tickets priced at just $29 which don’t include lunch or any extra.  The Gold Tickets however are priced at $98 and these include a delicious buffet lunch in a private room with David Whitburn and many of your presenters.  You also get a portfolio review and wealth plan by NZ Wealth Mentor’s head of property mentoring and Auckland Property Investors’ Association President, David Whitburn, to help you set and reach your financial dreams.

So are you going for GOLD???

In NZ Wealth Mentor we want to make sure you get all your financial goals. If you book online before November 20th we will also include our “Financial Mastery Success Plan” in the ticket price. Financial Mastery Success Plan is designed to look at your financial situation today to build a brighter future. It retails at $175 and you will get it for free as a part of this time constrained offer (3 days to go). Make sure you don’t miss out and book your gold seat (select from the menu) for NZ Property Masterclass today.