Investing - Property/Shares
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banks are fucking fluffybunnies. they will only lend money to those who don't really need it, or those who can barely afford it.
I have no idea how people start their own business in this country.
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@mariner4life said in Investing - Property/Shares:
I have no idea how people start their own business in this country.
Well you've got to pull yourself up by the bootstraps and WORK for it. Nobody is going to do it for you... and stop buying smashed avocado on toast you hipster fuck
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@NTA it's more like "well, we'll give you this money if you put your house and your first born up. And your line fee is high because you have no trading history"
or, alternatively
"look, you have no trading history, come see us when you have 2 years of financials. And also put your house on the line"
People shouldn't have to risk their house to try and build a business. Personal guarantees can fuck entirely off
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@canefan said in Investing - Property/Shares:
Yes. Might need to see a mortgage broker. Clearly I am not asking the right questions
Try David Windler at the Mortgage supply company.
Disclaimer - I am not endorsing him or the company but they seem to be able to organise things. -
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@mariner4life said in Investing - Property/Shares:
@NTA it's more like "well, we'll give you this money if you put your house and your first born up. And your line fee is high because you have no trading history"
or, alternatively
"look, you have no trading history, come see us when you have 2 years of financials. And also put your house on the line"
People shouldn't have to risk their house to try and build a business. Personal guarantees can fuck entirely off
Fuck yes, especially that last line.
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@Snowy said in Investing - Property/Shares:
@canefan said in Investing - Property/Shares:
You need a reassuring level of debt it would appear
That is amusing. I had more trouble raising funds once I owned things too.
My parents paid off their mortgage just after they got Caravan #1, and found it very inconvenient when they went for Caravan #2 a couple of years later
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@NTA said in Investing - Property/Shares:
@Snowy said in Investing - Property/Shares:
@canefan said in Investing - Property/Shares:
You need a reassuring level of debt it would appear
That is amusing. I had more trouble raising funds once I owned things too.
My parents paid off their mortgage just after they got Caravan #1, and found it very inconvenient when they went for Caravan #2 a couple of years later
Crazy eh? The banks are not happy when you pay off what you owe, they want to keep you perpetually in their debt. A bit like the mafia...
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@canefan said in Investing - Property/Shares:
@NTA said in Investing - Property/Shares:
@Snowy said in Investing - Property/Shares:
@canefan said in Investing - Property/Shares:
You need a reassuring level of debt it would appear
That is amusing. I had more trouble raising funds once I owned things too.
My parents paid off their mortgage just after they got Caravan #1, and found it very inconvenient when they went for Caravan #2 a couple of years later
Crazy eh? The banks are not happy when you pay off what you owe, they want to keep you perpetually in their debt. A bit like the mafia...
I mean, the clue is in the word mortgage (death debt)...
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@Godder said in Investing - Property/Shares:
@canefan said in Investing - Property/Shares:
@NTA said in Investing - Property/Shares:
@Snowy said in Investing - Property/Shares:
@canefan said in Investing - Property/Shares:
You need a reassuring level of debt it would appear
That is amusing. I had more trouble raising funds once I owned things too.
My parents paid off their mortgage just after they got Caravan #1, and found it very inconvenient when they went for Caravan #2 a couple of years later
Crazy eh? The banks are not happy when you pay off what you owe, they want to keep you perpetually in their debt. A bit like the mafia...
I mean, the clue is in the word mortgage (death debt)...
If you die in debt, you've won.
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@NTA said in Investing - Property/Shares:
@canefan said in Investing - Property/Shares:
Our problem was that we stopped acquiring. You need a reassuring level of debt it would appear
... Right now I'm weighing up whether to fix for 4 years (P&I) at 1.99% or stay where we are at variable 2.88% - my lizard brain only remembers that every time I fixed in the past, the market dropped below that
You're currently paying nearly 1% over the fixed rate. Rates would have to drop by over 1% when you take into account lenders margin before you will be out of pocket. I'd go for the fixed mate.
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@Catogrande said in Investing - Property/Shares:
@NTA said in Investing - Property/Shares:
@canefan said in Investing - Property/Shares:
Our problem was that we stopped acquiring. You need a reassuring level of debt it would appear
... Right now I'm weighing up whether to fix for 4 years (P&I) at 1.99% or stay where we are at variable 2.88% - my lizard brain only remembers that every time I fixed in the past, the market dropped below that
You're currently paying nearly 1% over the fixed rate. Rates would have to drop by over 1% when you take into account lenders margin before you will be out of pocket. I'd go for the fixed mate.
Yeah might fight the Lizard Brain on this one and ring them next week.
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@pakman said in Investing - Property/Shares:
@voodoo said in Investing - Property/Shares:
Last time I fixed rates was in 2014 when I secured the bargain rate of 4.99% for 5yrs on 50% of my mortgage.
Proper fucking clairvoyant I am.
What Investments are you selling at the mo?
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@pakman said in Investing - Property/Shares:
What Investments are you selling at the mo?
Nice. That was my investment strategy for years. I'd see what all of my work colleagues were doing, and do the opposite. Pilots are notoriously bad investors. Quite a number of guys who had ostrich farms, pine forests, and mines for precious metals because someone else had bored them senseless for 12 hours saying how good it was.
Needless to say I never had any of those things (I do like ostrich though, delicious).
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@dogmeat said in Investing - Property/Shares:
@Snowy The Northcote Tacvern was bought 30 years ago by a group of Air NZ pilots. Reckon they'd have done OK out of it
I'm sure that you helped keep the profits up.
Actually quite a few were with Viranda properties that invested on their behalf in commercial stuff, and they did well. I knew the owner from aeroclub days when he was learning to fly and now they are managing a commercial that I lease. NZ is such a small place.
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Reviving this topic as I might get myself in a position to be able to buy some NZ rugby shares if that happens. My Bank here in Japan has an acount which allows you to do it very easily, but in NZ it looks like things are run through Jardin direct. Anyone know anything about whether that is a good way to go or not?
I have a funny feeling that @Magpie_in_aus or someone else also knows about some reasonable places to get returns, my wife casually also mentioned that we could send some extra cash back there, and if there are some reasonable places to store some money away and get a return, that could be an option as well.
