What a great idea. I can go to a seminar in lovely NZ and have a great time meeting other forumites who will also be enjoying their tax deductible conference trips – Steve, you could make it a week long conference, where we pay you a ‘holiday size’ fee and the conference includes lots or great investing info, and skiing and a nice chalet accom in…[Read more]

Do some calculations of the actual costs rather than just the percentages. Commercial properties can have differing outgoings that you pay (because your tenant may pay some of them) – the percentage may not give you a real appreciation of the cost/profit of the property.

CastleDreamer

Hmmm, imagining to myself: Guy thirty five years old, works at Woollies, wife, two kids, earns 30K per year. Wife does ironing to help with school fees. Sees Today Tonight and envies the opportunity that the MAPpers have been given. For this guy to ever dream of controlling one mill of property is a big dream. For many like him/us Steve’s…[Read more]

That’s typical though. People hear something, recollect less than half of it, and then expound about the whole of it. Accuracy goes out the window, and the chinese whispers start. How big was that fish that your cousin’s, sisters, boyfriend caught????

CastleDreamer

Whose rules? If the statement was explicit at the outset, how can someone else complain that it doesn’t make sense later? If a person makes a statement that is later twisted or altered in some respect by others, how is it their fault????????

CastleDreamer

Sibo,

you should read API magazine. Mini told me about an article the other night – it is specifically about signing a contract xxx and/or nominee. You should read it if you are thinking of spotting.
Cheers
CD

CastleDreamer

Edit: Ooops, Sorry Mini, quoted the wrong mag, New Zealand Property Investor.

Thanks for clarifying Steve. I take a very cool approach to the TDT and similar shows. They always seem to sensationalise things, change context and generally have a good time with your sound bites if you don’t get them exactly right! In my very brief exposure to the media, I have been misquoted myself, and seen the same happen to friends, so I…[Read more]

Hi Unreal Jo,
finders fees can range from 1100 to 4000 depending on the finder, the type of property.
some finders require fee once contract is handed to you. Some guide you through until the contract goes unconditional and claim fee then.
Pay to bank account, or through their solicitor’s trust account, can vary.
Your finder might be a friend or…[Read more]

Hi lifeexperience. Are you saying that you have prospective tenants that don’t quite match your intended tenant profile, and that they have come up a bit short on your investigations, so you are worried about letting to them? I am a bit confused re what you are asking us??
CD

CastleDreamer

There is definitely a difference between controlling a mill bucks and actually having net one mill sure, but Steve can net the mill plus, so let’s see what the end of the program brings and get the results for all of the MAP guys. I have heard very different positive stories compared to those referred to in the Media Watch report – MAPpers are…[Read more]

Hi Warrick,

My accountant set up my family trust for $330 including GST! He sorted the ABN and all the tax office stuff as well as the trust document etc.

Cheers
CD

CastleDreamer

Hi Mini

“could Inala go that way?” It already has.

Sizzling duck g’day
Inala is a huge suburb, two to three times the size of other suburbs near by. Have you had a good look at the northern side of Inala north of the Civic centre? Major urban renewal by contractor on behalf of Housing Commission over past five years or so. Houses completely…[Read more]

Hi George, how did you go? The grapevine speaks, and you maybe bought some stuff? Well done!!
South Island is lovely, and yes, Westan and Alvin and the ten other Johnsons are a lovely family!!!

Cheers
CD

CastleDreamer

Way to go Chan, that’s great[jester]!!!!! My first IP was bought in January 200 – missed out by six months[bawl]! Good on ya[specool].
Cheers
CD

CastleDreamer

Absolutely, sight unseen from an agent is very different to sight unseen from a trusted spotter. But some people will prefer to see every property and that’s entirely sensible as well. We each have our own risk levels.
CD

CastleDreamer

definitely use offset account rather than put it into a loan, if this is what you decide to do. If you put it into the loan, and then decided to pull it out for private purposes it would be a non tax deductible amount, and your accountant would have to work it out separately.. Easier if its in the offset account to start with.

CastleDreamer

Who is thinking of going from Brisbane?

CD

CastleDreamer

Yep, despite my confused post earlier, that’s exactly what I do Ian, although I have to go out and check out this corporate trustee business now.
Cheers
CD

CastleDreamer

Hi viralk,

I hunted around for bank/lenders who would do less than 20%, but all said 20% minimum (or worse) for O/S investors in NZ.

Century 21 are a realestate agency – do they offer finance as well in NZ?

Let me know how you go.

Cheers
CD

CastleDreamer

Isn’t it funny how we all have opinions, as a resident of Logan for many years, and a community worker there, I would have said that crestmead was a better area than Marsden, opinions from us forumites are great, but don’t forget to do your own research SMARTMONEY

Browns plains, boronia heights, crestmead, hillcrest ( I have had property in…[Read more]