All Topics / General Property / NZ Buying…Is it worth it?

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  • Profile photo of Rachel77Rachel77
    Member
    @rachel77
    Join Date: 2004
    Post Count: 50
    March 4, 2004 - 11:18 am

    Hi,
    I’m new to all this and have read in some posts that there are many more +ve cashflow properties in NZ. Is this true? What are the downfalls with buying there if you live in Aus, apart from the obvious ones regarding distance? I am originally from there and have heaps of relos still living there but I didnt even think of the option to buy there. Do you have to pay two lots of tax, how does it work with all that stuff? Anyone know? Appreciate any ideas on the topic.
    Rachel.

    Profile photo of judijudi
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    @judi
    Join Date: 2004
    Post Count: 119
    March 4, 2004 - 11:30 am

    Hi Rachel
    There have been some previous posts about this if you want to do a search. From what I understand, you arrange finance here the same as you would to buy in Australia. CGT doesn’t apply in NZ but if you bring the money into oz, you pay tax here.

    I don’t think it matters about distance although I know some people like to buy in their local area.

    Regards
    Judi

    Profile photo of muppetmuppet
    Member
    @muppet
    Join Date: 2003
    Post Count: 900
    March 4, 2004 - 11:51 am

    Hi Rachel

    Contact Westan with a pivate message and have a chat with him. He is sourcing property in NZ for Australian investors.

    He has moved to NZ to purposely buy property.

    There are many postings on NZ. Use the search function.

    Also log onto http://www.propertytalk.co.nz and have a look. There is a wealth of info on there as well.

    I have already hosted about 5 Australians who have come to NZ to buy IPs.

    I am meeting another one on the 15 March.

    Regards

    Profile photo of AdministratorAdministrator
    Keymaster
    @piadmin
    Join Date: 2013
    Post Count: 3,225
    March 4, 2004 - 12:36 pm

    >>I have already hosted about 5 Australians who have come to NZ to buy IPs.<<

    Is that all meals or bed and breakfast only ? [:)]

    Pisces

    Profile photo of muppetmuppet
    Member
    @muppet
    Join Date: 2003
    Post Count: 900
    March 4, 2004 - 8:49 pm

    Hi Pisces

    It is the real 15 star treatment.

    No, really basic bed and breakfast. They are looking for property and getting the feel for the areas which have +cash flow properties so they don’t hang around too long during the day.

    One of Steve’s mappers has stored some boxes with me until he gets set up properly.

    When are you coming over?
    Come and try Propertytalk’s chatroom one night?

    Regards

    Profile photo of woodsmanwoodsman
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    @woodsman
    Join Date: 2004
    Post Count: 714
    March 5, 2004 - 12:33 am

    Rachel77,

    In the process of doing some reserach on NZ myself and pleasantly surprised with some of the opportunities being presented.

    The website that muppet refers to is a good one as well. You will see plenty of questions from Australians doing the same thing.

    James

Viewing 6 posts - 1 through 6 (of 6 total)

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