Forum Replies Created
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 another issue.I did tell the guy it was his property and so therefore it was his responsibility to fix it…no replies…I’m guessing he is off investigating what he can do legally…
jhopper:
when you say green title, I assume you mean standard torrens title ? I dunno weather there are any easements or anything like that for this common pipe…will investigate and get back to you…
I agree with you when you say the line probably hasn’t collapsed completely. The plumber that the neighbour got said that it had. But as you say we are flowing/flushing without any probs…and the smell seems to have disappeared now that the plumber has left.
I think the guy is just trying something shifty…ie getting the capital work done on his property and claiming a full deduction whilst getting the neighbours to contribute for it…(but this is the realm of speculation now… [cap])
will keep you updated…
thanks,
andrewHi 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 apparently his are all blocked (and causing a right royal stench mind you…)
I guess I am interested in what his next move is going to be if we (and we should) refuse to share in the cost. He mentioned that his next step was to take it to “the tribunal” but I was wondering if he had any legs to stand on etc or whether it was more of a hollow threat.
cheers,
aptam[cap]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 lowballing…
Kerwyn, as you say – let the idiots do the over paying – the numbers speak for themselves.
andrew.
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 getting hard to come by – and they have had the CG’s to boot!
(If anyone would like to dispel that, please contact me. The numbers on the properties that I have run through so far are barely positive)
Its clear that you really have to be creative in order to get your CF+’s…
Cheers,
Andrew.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 wouldn’t be too happy [cap]
cheers,
andrewHi 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 NZ and what sort of ongoing compliance costs are involved ?
andrew.
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 (potentially) more than one source of income.
thanks,
andrew.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 bit…any suggestions on what could be done here ? I was just thinking a bit of a fence & maybe just some landscaping would do the trick…
as for facing north…not sure on that one..guess the surveyors report would indicate which way block faces etc…
andrew.[cap]
