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My journey ............

IWC2006

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#21
At the mement i manage the properties myself. i am selective with my tenants as rental market is tight in AKL. Do the lawn myself in a way to show my present and keeping an eye on the tenants. I prefer to use fixed term tenancy for 6 months initially and renewable if tenant is good.

i specify in the tenancy agreement - no sublet, maximum nos of people 3 etc as it is against the law for overcrowed house for health and safety reason.

If one is serious about property investment, good to join the local landlord association and get some support from members and referral for responsible property manager. i probably will have to find responsible property manager if i no longer manage them myself.

Ash007 - i did consider aussieland but i am out of action ( being too long on entry level job) for some times and probably will have to start all over again. i am into some studies to self improve myself and up dating myself with current developments and hopefully will make myself more marketable in asia.
Above 40s - you can forget about Asia esp spore, they prefer the young guns as they are cheaper and eager to slog in long hours and no family commitment. upgrading your qualification can only do so much at your age. Both age and experiences are against you (since you took entry level jobs in the last few years in Auckland - employers in Asia will not give you any opportunity and even if they do, your salary will start at the low level as well). u might be better off move in Oz as there are more opportunities and employers are more open minded.
 

IWC2006

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#22
Dear Manuka, like I said I can see my shadow... We have almost the same scenario... I have 3 properties too. 1 fully paid, 1 for 60% equity & another million dollar property at 25% equity. I achieved all these for a short 7 yrs in Australia. Back in SG, I lived in Jurong (SGD 250k apartment only), now I live in a good suburb at zero tax for primary - best of all, I pay no body corporate rates :-)

I was lucky when I arrived, I got promoted 3 times within 1.5 yrs and currently, I am a small mgr in a big organization. Due to my dad's poor health, I may need to return to spend some time with him.. At the same time it wouldn't harm to work and play at the same time. Hopefully, it all goes well, if I can get a job in Sg or KL. And when I return to Melbourne, I hope to be a full time employer. I need large capital to start a firm.

Oh well, if I can't make it.. I'll simply retire in a simple manner.
I'm in similiar situation , dad is fast aging and not well - there's many opportunities to move back to sg as i'm in the financial industry, but just don't want to go back working in same shitty workplace environment infested with FTs especially ah nehs.

My next alternate destination is HK, my fiance' homeland. HK is much faster pace than sg, but at least i will go there as an expat, closer to home where i can fly back frequently, and more net savings (high income, lower tax), lodging is provided;and is so much cheaper to travel around than in Oz. oz is probably the backbone for retirement (or NZ/canada) if oz becomes too expensive then.

i find Oz though a very nice environment and good work-life balance, everything is so ripp-off in the past few years with the rising costs;and with no family support can be rather challenging.
 

Aussie Prick

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#23
I am quite unlucky to get a good-turned-bad tenant. With the current economic uncertainties, and high rental, the risks just get higher with tenants doing the wrong thing.

The lease agreement I use include all those items which you mentioned.

I complained at the body corporate AGM and now my neighbour has my contact number. She is a crazy grumpy woman who stopped my past tenants' removal trucks from entering the driveway,saying that it will spoil the pavers and damage the driveway plants.

I stopped talking to her, but now, she initiated a direct contact with me after the bad experience. After all, she lived there. Nothing like a Stakeholder to help my cause. LOL

I am prepared to reduce my rent to secure good tenants.
Well that's bad luck when a good tenant turns bad. Do you have a clause where you can give 30 days notice? If so the vacancy rate there is so tight a landlord is the one pulling the levers right now. And with today's yields, lowering might not be in your best interests with so many good tenants out there waiting for a good landlord.
 

QXD

Alfrescian (InfP)
Generous Asset
#24
Mind if you share what industry were you from in NZ? I've heard of a few fellows that can to Perth and ended up in a similar situation as you, going back to Singapore because they miss their family.

Also curious to know how you plan to reboot your career when you get back to Singapore.

Don't mind if I say this, but isn't a post-grad degree at 40 not as useful as if you had professional qualifications (CPA, CEng etc.) ?

i moved to auckland 7 yrs ago.... Got a job, but was an entry job, the salary was not as good as i was in singapore and was not commensurate with my skills and experience. It was okay as i tried to get more local experience and at the same time familiar with the country.

We have some savings brought from singapore and was able to invest in some properties. Bought a family home which we still live in now and 2 investment properties.

My son was born here last year at the government hospital. The after birth care was quiet good and free medical care till he is 16. My wife took a year off from work and finally decided not to go back.

Career wide, there is no much prospect. Received a lot of rejection letters for jobs that commensurate with my qualification but not my experience. So, i finally settled with the entry job at average income and with my wife's income, we were okay.

After my son was born, i decided to take time off and spend sometimes with him and rely soley on our rental / investment income and during these time i gave some thoughts to my future and our parents ( back home)

i am in my early 40s and would like to have another run with my career and it is difficult to settle in with entry job and not using much of my ability. i decided to head back to asia and to prepare myself, i took up a post graduate studies for self improving and to up date myself with current developments.

We will be selling our family home and with the proceeds to buy 2 more investment properties and ideally, would like to keep all our investment properties intake and let property manager to manage them. We still consider auckland as home, just that the carreer opportunity is not there and we don't want to spend our productive years on a retiring mode.

I don't know what future will hold, but i want to give myself and my family another run and to spend more time with my parents back home and let them spend more time with their grandson too.

Although i didn't achieve much in the last 7 yrs but i do learn a lot about life and to appreciate little things in life...
 

QXD

Alfrescian (InfP)
Generous Asset
#25
The last time I knew someone who ended up being suckered into those Wealth guru spruikers flogging low downpayment, high yield, rental guarantee scams.

I had to bail him out by buying him off, but ended in positive equity within half a year and was "forced" to sell and kenna tekan by ATO and ended up with a much smaller after-tax profit of $6,300,000 in 11.5 months!!!

Luckily I was smart enough to "siam" and quickly reinvested my money, I now have a portfolio consisting of 150 properties all round Australia, with a growth of 30% p.a. while I live in a 10,000 acre hobby farm where all I need to do is to feed my chickens everyday to make them fat enough to keep my customers happy while my employees take care of the day to day running.

Just sharing my "experience" here too.

Convincing, eh?

Wat sharing? I only see migrant loser bullshitting.lol
 

neddy

Alfrescian (Inf)
Asset
#26
Well that's bad luck when a good tenant turns bad. Do you have a clause where you can give 30 days notice? If so the vacancy rate there is so tight a landlord is the one pulling the levers right now. And with today's yields, lowering might not be in your best interests with so many good tenants out there waiting for a good landlord.
When the property manager went for the first routine check, everything was fine. Perfect couple.

When the rents stopped coming, property manager arranged appointment, tenant said it was a cashflow because he broke off with partner. (what I did not know then was he had gone bankrupt and the girl left him)

After that, he returned to paying rent, so I thought it was just a temp change of circumstances.

3-4 months later, property manager tried to contact him for property check, but unable to contact him at both mobile and office. Both lines were cut off. The cheques were coming from a different name. (brother's, father's ?)

As you are aware, the strong tenancy laws means manager cannot just enter the property that he is managing without arranging for appointment. What he saw from outside was quite bad and the neighbours' stories confirm his suspicion. I was informed immediately.

My property was still listed in Gumtree for sub-let and that became court evidence.

Manager wrote Form 1C for 7 day termination of tenancy notice.

At the same time, I requested for Eviction notice from magistrate court and use of bond money (it took about 2-3 weeks costing around $30) - not necessary, but I like to sue people to get money back.

Meanwhile, tenant called back and property check was arranged.

On the day, the illegal residents had made a runner and manager found the main garage door open.

Police case now out for 3 Irish??? girls and their boyfriends. They are believed to have left the country after their working holiday visas expired. (overstayers???)

LESSON FOR ALL

*Damages*
replaced Lounge carpet
replaced shower glass door
repainting the main walls
replaced cooker
Got a new migrant indian couple to come in to clean up the house, garden, back courtyard.

*** We blacklist the tenant. ***

*** I FORGOT TO ADD, it is the landlord rights to get the tenant's forwarding address, even if he is evicted ***

*** In my case, my manager just take photos of the damages and send to the insurer for claims, and the insurer paid up w/o inspecting the damages. So, it helps that a professional property manager is involved.
 
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neddy

Alfrescian (Inf)
Asset
#27
I've heard of a few fellows that can to Perth and ended up in a similar situation as you, going back to Singapore because they miss their family.
I think a number of Singaporeans are unhappy in Singapore, that is why they migrate. Whether Australia offer them a desirable lifestyle is another matter.

It helps a lot that migrants have family support.

I noticed that if Singaporeans cannot find jobs here, cannot get a business going - the chances of them returning is higher.

If Singaporeans are stuck in entry-level jobs, or the business is not doing well - there will be a "What am I doing here" trigger moment and they return to Singapore.

Australia is a very different country from Singapore, the longer I stay, the more difference I see between the 2 islands.

How long is the migrant's honeymoon before the reality set in? Do you like the reality? Are you prepared to understand your adopted land rather than calling the people here dumb/stupid?

Returning to Singapore is good as well, since the migrants will understand the strange FTs behaviours :rolleyes: better

*** I am NOT referring to anyone, or discouraging anyone who want to migrate. Just stating my points as an observer. ***

But if Singaporeans are so fearful of troubles, better remain in Singapore.

LATE ADDITION

>>> I am referring to those Singaporeans who visit me. They saw that I am doing well and also they were in holiday mood. So of course everything appear very good for them. Somehow, the elders got involved and asked me to help my cousins secure OZ PR visas and get them good jobs. Bloody hell! I did not remember these people helping me to get a job when I was jobless in SIngapore. I rise up from Struggle St and not about to roll out red carpet for the undeserved!

Perth is just the start of my life. I would like to live in another place before retiring somewhere else.
 
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axe168

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#28
Needy, there is another good reason to return or get out off Australia.. It is about borrowing.. You can borrow in SGD or USD at near 1% interest. Your risk is the currency exchange. also subject to strict lending criteria.
 

manuka

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#29
People move in / out for all kind of reasons. Some people use AKL as a transitional place for somewhere else, it has became a norm.

I will try not to be judgmental as people circumstances change over the years and they re-arrange their priorities. Just like selling houses, people sell to upgrade, to downsize... leaving oveaseas etc.

If everything is so clear and certain in life, that will be a perfect world. Just because we are in an imperfect world and surround by all kind of noises, advisers, turkeys, that make one's decision challenging, and can only listen and follow one's heart. Again, if you never try, you will never know.

Cheers, people whichever stage of life & decision you are in now.
 
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axe168

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#30
Dear Manuka, I am impressed by your actions. Since I can see my reflection, I am impressed by mine too :-) if you refer to these ppl's previous posts, they are highly negative and often talk down on Oz or NZ matters, including Aussie Prick. Now they simply trying to engage a conversation with you, so that you will be as negative as them.. I'm glad you differentiate btw noise and music. In summary, stay positive and confront the obstacles, soon ya be ready to enjoy the fruits planted by you !

People move in / out for all kind of reasons. Some people use AKL as a transitional place for somewhere else, it has became a norm.

I will try not to be judgmental as people circumstances change over the years and they re-arrange their priorities. Just like selling houses, people sell to upgrade, to downsize... leaving oveaseas etc.

If everything is so clear and certain in life, that will be a perfect world. Just because we are in an imperfect world and surround by all kind of noises, advisers, turkeys, that make one's decision challenging, and can only listen and follow one's heart. Again, if you never try, you will never know.

Cheers, people whichever stage of life & decision you are in now.
 

axe168

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#31
Trolls have a motive, gladly take instruction like a dog.. Join me to fight negative behaviour, soon ya realize ya master is as evil as a serpent.

Ops ! I could be joining ya evil team soon .. If only ya Govt accepts me :-)
 

IWC2006

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#32
I think a number of Singaporeans are unhappy in Singapore, that is why they migrate. Whether Australia offer them a desirable lifestyle is another matter.

It helps a lot that migrants have family support.

I noticed that if Singaporeans cannot find jobs here, cannot get a business going - the chances of them returning is higher.

If Singaporeans are stuck in entry-level jobs, or the business is not doing well - there will be a "What am I doing here" trigger moment and they return to Singapore.

Australia is a very different country from Singapore, the longer I stay, the more difference I see between the 2 islands.

How long is the migrant's honeymoon before the reality set in? Do you like the reality? Are you prepared to understand your adopted land rather than calling the people here dumb/stupid?

Returning to Singapore is good as well, since the migrants will understand the strange FTs behaviours :rolleyes: better

*** I am NOT referring to anyone, or discouraging anyone who want to migrate. Just stating my points as an observer. ***

But if Singaporeans are so fearful of troubles, better remain in Singapore.

LATE ADDITION

>>> I am referring to those Singaporeans who visit me. They saw that I am doing well and also they were in holiday mood. So of course everything appear very good for them. Somehow, the elders got involved and asked me to help my cousins secure OZ PR visas and get them good jobs. Bloody hell! I did not remember these people helping me to get a job when I was jobless in SIngapore. I rise up from Struggle St and not about to roll out red carpet for the undeserved!

Perth is just the start of my life. I would like to live in another place before retiring somewhere else.
It depends on what stage of your life you'll in.

If you have kids, most would stay on for the sake of giving them a better life.

I know some left for another country for better job opportunities (not neccessary back to Spore) and some point in time might return. This is not unique to Sporeans. Even Aussies relocate to HK, SG, UK, US etc. Quite a number of European migrants move back to their home country for retirement, reasons mostly because OZ is deemed too far/isolated, missing their families & friends.

These days, nothing is certain, people move where the opportunities are. A lot of Aussies are already finding hard to retire in their home country, it won't be easier for immigrants either.

For Asian immigrants especially chinese, they have commitment looking after their aging parents - if parents refuse migrating to OZ, chances are they have to move back looking after parents.
 

axe168

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#33
I bring hope in the ruthless world. If I'm gone, you have no clue what is life outside your tiny hole. So just sit back and relax and enjoy my contribution.

Dude, my banker has given a conditiOnal approval for redrawing my equity, I am fired up for another round of investment ! Stay tuned ! Hehe

axe168,

FO for goodness sake. dun ever come back. thank u. :rolleyes:
 

axe168

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#34
In this civilize world, regrettably there are few stray dogs around.. It is not your fault, all thanks to your culture and your upbringing.. Bravo !
 

Aussie Prick

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#36
I dont know about local Perth laws, but in my market If they fail to pay on time there are recourses besides eviction. If they are late you can put that on their credit report, and it stays on there for 7 years. You are also entitled to back interests, late fees, damages, etc.

Its all computerized and once its on the credit report they have a hard time renting anywhere else or even getting new credit.
 

Aussie Prick

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#37
manuka,

i suggest your go read some of axe168 previous posts and others comments on him to jugde for yourself how 'honest' he is. lol
You need to ignore this poor Axe168 character. For years he has come onto this forum.

First he complained he did not know what to do there - he stared at a ceiling fan for six months. Then about the cost of living in Australia. I remember on the old forum there was a post about how his dentist charged him a large sum and drives a big car and he is very angry there is no coverage despite his high taxes. Of course when I questioned him I am a "troll"

Then he tries to become a pimp there - by opening a brothel and selling women for sex. I am not kidding just check the forum.

He is particularly upset with me because I have never let him forget his braggart statements in 2008 when he claimed he made alot of money buying a brisbane property. The market soon crashed and every time I ask him how much money he lost he reluctantly admitted there was a loss and keeps quiet. I guess the poor fellow is still disturbed by his past actions.

Really, when it comes to axe168 we all know what a braggart in Singapore really is, so I dont mind being called a "troll" - and its plain for all to see.

Others know who I really am.
 

neddy

Alfrescian (Inf)
Asset
#38
I dont know about local Perth laws, but in my market If they fail to pay on time there are recourses besides eviction. If they are late you can put that on their credit report, and it stays on there for 7 years. You are also entitled to back interests, late fees, damages, etc.

Its all computerized and once its on the credit report they have a hard time renting anywhere else or even getting new credit.
Tell that to a bankrupt. If I have known he is broke, I would not even have spent $30 to get court order. I just have to serve FORM 1C and cut my losses (1 fortnight rent)

Just because it is the landlord market does not mean I will get good tenants. It just mean that I get more liars who promise the world.

Also, Australia is one of those places where the laws favor the tenants over the landlord.
 

manuka

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#39
Just because it is the landlord market does not mean I will get good tenants. It just mean that I get more liars who promise the world.

Also, Australia is one of those places where the laws favor the tenants over the landlord.[/QUOTE]

____________________________________________

It is also true that nz law is favouring the tenants. I learnt my lessons as landlord appearing at the tenancy tribunal.
Lessons 1) do not appear that you are too smart and know what the law is, best that you appear to listen and to be guarded by the adjudicator otherwise, the adjudicator ( especially female) will perceive you as a slumlord.

2) Don't be too pushy on tenant and sound too money minded in front of adjudicator, eventhough you want to get your money back. Be careful of your text messages, it can be produced in tribunal as evidence to your intention/ state of mind. best to write professionally and objectively even the tenant is scumbag, gambling his money away on the expense of your rent and is a good story teller ( ie my ex-tenant).

Once you get your court order / judgment, pass it on to the debt collector, they will charge 30% of the money collected. No collection no pay kind of arrangement. On top of that, they will issue letters to threaten bad credit rating to your ex-tenants.
This is provided your ex-tenant has job and and has financial means and just try to take advantage on you by not paying.

in nz , you can file bankruptcy if someone owe you (judgment) $1000.00 . you can do it yourself, no need to involve lawyer. Once your ex tenant receive the bankruptcy notice, he will jump out of his bed and pay you (expecially those that take the law lightly in their home country and cultural shock with the law in new country). i use that as a learning exercises and found that it is an easy procedure to use.

facebook is a good source to find / trace your ex tenant and serve him with notices.

My rule : don't get too close to tenants, maintain professional communication level.
 
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manuka

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#40
You need to ignore this poor Axe168 character. For years he has come onto this forum.

First he complained he did not know what to do there - he stared at a ceiling fan for six months. Then about the cost of living in Australia. I remember on the old forum there was a post about how his dentist charged him a large sum and drives a big car and he is very angry there is no coverage despite his high taxes. Of course when I questioned him I am a "troll"
___________________________________________________________________________

Dear friends,

as an immigrant, i encountered few bad experiences

1) cheated by my own kind ( chinese) in house repairing just because it was cheap. As i had no experience, it turned out to be poor job and the person disappeared. As workmanship in nz ( aust for that matter) is expensive, it is very easy for immigrants to fall into this trap.

Use qualified / certified tradepeople, get 3-4 quotes. Quotes are free.


2) sweet talkers to lure you into buying. When people tried to sell you real estate, they try to sell you your ego as well.
beware of this kind of statement " this kind of house would suit a professional like you and this kind of price range reflects your worth" . Do not let your ego takes over you by this kind of sweet talkers.

3) Sometimes, people prefer to mix with people that they see as less fortunate than them. Ie to say, they don't like to see tall poppy.
If they see the poppy is tall, they want to cut it down. You will have to adjust to this kind mentality in the midst of your friends, colleages.

4) Crab mentality. - crabs will try to prevent their fellow crabs from moving forward and pull the crabs back to the bucket.

No, i do not hate /hold grudges on the wrongs and bad experiences. Let bygone be bygone and move on... i have my past, mistakes, wrongs, bad decisions..... those made me who i am today and i am humbled by life and that doesn't mean i don't want to give it another go.
 
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