Jan,

thanks for the tip.

Just out of curiosity, if you had issues such as this…who would mediate? is there a tribunal for this sort of thing ?

andrew

Hi there

thanks for the replies.

GrossRealisation:
That was the perspective I was coming from. More bugged by the fact that the guy came up to us in the guise that he was “consulting” us about it. Consulting is not necessarily shoving a bill in my face and telling me how much to pay, particularly without getting additional quotes…but thats…[Read more]

Hi there,

thanks for the reply. I thought this would be the case, notwithstanding it had nothing to do with our property.

I suppose i was just querying it because I wasn’t sure what the implications were, given that it was a common line that terminated on his property before going out to the main street.

Our toilets etc flush perfectly, but…[Read more]

Redfish – spot on.

Birddogs bring you potential deals, but thats only the start of it. Every deal brought forward by a birddog is not necessarily a good deal.

You still have to do your due diligence…

andrew [cap]

This is a very good point.

Also, I wouldn’t be surprised if agents marked up properties by a few thousand as soon as they get a whiff of an aussie. I have been working on my kiwi accent and drinking my tui’s [cap]

I suppose the moral of the story is that if you put in an offer and think you are lowballing, you may not end up actually be…[Read more]

Hi everyone,

thanks for the replies. I think its clear that in even in NZ a stock standard ‘buy & hold’ cash positive properties are a lot rarer. Yes, yields are higher than in Australia, but so are interest rates.

RentMaster you mention that you either go for CG or CF+. Its interesting that even in some regional areas, CF+ properties are…[Read more]

Hi there,

has anyone had any trouble trying to get to the realenz.co.nz site over the last couple of days??

andrew.

Hi Playa,

I suppose what I am getting at here is more from the point of view of what happens to the two separate titles. Ie, when you subdivide, since the bank is registered as holding a mortgage over the original section, do they automatically come up on the titles for both of the properties?

You would think that they would otherwise the bank…[Read more]

Hi Shar,

thanks for the stats – much appreciated.

Also, one other quick one – how long did the whole process take to set up from start to finish ?

cheers,
andrew.[cap]

Shar,

Yeah – I’m not too sure about that central management and control test that determines residency…

Even if the company is deemed to be nonresident, maybe it would be possible that as appontors, that you have ultimate control as well…need to ask about that one…

Just out of curiosity, how much does it cost to set up a trust/company in…[Read more]

Hi CD,

thanks for your thoughts. The insurance tip is definately a good bargaining chip.

Just to clarify, when you say you are ‘covering the cost of the insurance’ for that period I presume you are talking about having the insurance in your own name, rather than simply reimbursing the vendor ?

cheers,
Andrew.

Hi there,

thanks for the insights. With regards to the financing – what did you have to do with the bank re running the subdivision past them ?

whats involved from that side ?

thanks
andrew.

I am heading over there soon, but not on KA2…

The problem I am anticipating when asking for rentals is having them pick my aussie accent, then change tack and tell me nothing is vacant

thats just me being cynical…[cap]

Hi there,

Just out of curiosity, when is KA2 being run ?

Andrew.

We buy through a NZ Trust and get 80% LVR for most residential property, except where there are more than 2 dwellings on the section (title), then we found you can only obtain a 70% LVR.

Can someone clarify the reasoning behind this? I would have thought two dwellings on the one section would equate to less vacancy risk because there is…[Read more]

Cost of repairs. Tradesmen costs are considerably cheaper in NZ compared to Oz.

Given the discussion above, if there are a lack of tradies, wouldn’t that just point to a supply imbalance?

That just says higher prices/blank cheque jobs. If tradies are cheaper in NZ compared to Oz then I wouldn’t think that would last too long…

andrew.[cap]

Is the Mongrel Mob available for hire ? [biggrin]

andrew

CD,

Just to clarify, what sort of insurance would you need to cover you whilst you are in there presettlement ?

Are you just saying that you should bring forward the insurance so that you are covered for any time you have access to the property, not just after settlement ?

Thanks,
Andrew.

Hi there,

thanks for the response.

What exactly do you mean by a ‘dependent relative unit’ – is this like a granny flat type scenario ?

Basically I was wondering if it was possible to build something else on there and putting some more tenants in the second place…

andrew.

Hi Michael,

there is a driveway up the front of the property, that could potentially be a battleaxe setup, except I wouldn’t be subdividing anything, just putting another house in.

there is also a gate with rear lane entrance as well…

I wasn’t thinking about going up a storey…all single storey type stuff.

Not sure about the privacy…[Read more]