Hi 1hoobadriver

Muppet is right on with valuit as a firm. I use them as well.

Buildings get to be depreciated at 4% per annum I think. When you get a valuation done, the valuer breaks it into land, building and chattels, so you know how much the building bit is worth.

Some of the NZ investors on here do not worry about getting a schedule, and…[Read more]

Hi Trish,
some of us find property for people and don’t charge outrageous fees to do so. You can contact Minimogul, Westan or Tasinvestor amongst others.

Good? – I guess those that have integrity and don’t rip you off
Bad? – haven’t heard any bad stories on the forum about any of the NZ spotters from the…[Read more]

Absolutely right Terry,
you can’t avoid the ATO by ‘leaving the money in the trust’ they will just tax the trustees on it anyway and at the top tax rate as Terry has said.

I suggest get some sound advice to suit your individual circumstances as many of our circumstances here on the forum will be different to yours as…[Read more]

Hi there,

I live in QLD as well, but am happily investing in NZ for the short term (5+yrs approx).

cash positive in NZ is great way to go, but finding the 50K returning 150 rent is getting harder to near impossible. Likely to find the 45-50K returning 125-130 rent, or go for a more likely capital growth area 80-95K returnin 180-220pw. All…[Read more]

Yeah, and the bits that westan isn’t buying or selling several others of us are chasing down!!! NZ is definitely the place to consider for good solid cf+ houses at the moment!!!

I understand Westan ending up living there as well. It is a great country, I could spend many more weeks there than I get the chance…[Read more]

Hi stewarj

For finance try the finance link on this site (the red finance one) it takes you through Edenlea Mortgages – Leonie Gardner – who will put you in contact with an excellent NZ broker for finance on the ground over there.

Alternatively, you can PM me for more specific info about individual bankers who can help out Aussies.

Property…[Read more]

Hi Marney
the seminar was well worth attending – NZ was only a small component break out session over lunch – Steve focussed on a lot of other bigger picture stuff that was not geography related through the day. Several threads on here have information about the seminar, try a search to see what comes up.

NZ is definitely an interesting place to…[Read more]

I agree with Westan,
Take a 20% deposit from Aust and finance the other 80% in NZ. Haven’t yet found a bank that will lend over 80% without needing your grandmother, children and pets as security (in other words I haven’t yet found a way to do it!!)
Some banks will require a valuation, some don’t depending on whether you purchase through a REINZ…[Read more]

Yield = rent * number of weeks divided by purchase price. Most people use 50 or 52 weeks of the year to calculate a percentage yield.
Cheers
CD

CastleDreamer
“+CF properties in NZ available now”

“fibro” does not always contain asbestos, although I understand the term to be used loosely for product that is not fibro – eg hardiplank sheeting – different fibro also contains differing amounts of asbestos as well. This can be dependent on age of fibro (age of house or extension as a guide). This info is from my builder…
Apparently half of…[Read more]

Jindalee is a good area of the centenary suburbs, Mt Ommaney might be considered the ‘best’ area, but Jindalee bounds Mt Ommaney. Friend of mine is RE Agent in that area, and friends have rental properties there. Mt Ommaney and Jindalee were best suburbs to buy in.
Cheers
CD

CastleDreamer
“+CF properties in NZ available now”

I will be there, looking forward to putting some faces with forum names!!
Cheers
CD

CastleDreamer
“+CF properties in NZ available now”

Hi there,

three recent purchases
one set of three brick 2 bedder flats total purchase 60K renting out at 245pw.
65K rented for 240pw after spending 5k and two weeks of a handymans time.
67K current vacant will rent between 220-240pw when tenanted.
That would be an average return of 19.02%.
All of these are sound, tidy properties most with new…[Read more]

Hey jdnat,
feel free to PM me or Mini, or alternatively drop us an email. Happy to help.
Cheers
CD

CastleDreamer
“+CF properties in NZ available now”

Hi Guys,
one Bank I deal with in NZ required me to provide copy of Aus Baycorp report to them as part of my application. Another I am dealing with looks clearly at serviceability accross the entire holding Aus or NZ.

90% lend in NZ will interest me shortly as that means that I have to provide less per property deposit from Australia, and with…[Read more]

Hi Bill and all and sundry

I guess the level of ‘risk’ one is prepared to take will vary for all of us, but I don’t know that I am rushing in to set myself up for a firesale and loss of shirt in NZ.

Many of us buying in NZ are taking the time to research areas and issues as diligently as we ever did in Australia.

Thanks for your thoughts Bill.…[Read more]

Hi NZ Mort Broker

Mini asked:

interesting thread. I have a couple of questions, i.e. how do your lenders feel about the smaller towns? like under 10000, and 5000? Will they still lend there but just at a higher LVR? Do they cross collateralise if properties are under 50K or just not lend at all? How would they feel about a town of 1500 that is…[Read more]

I think the artificial sweeteners you guys are referring to in the diet soft drinks are the phenylketonurics (don’t quote me on spelling – my medical terminology is not that crash hot!). These may or may not cause cancers, thereby being potentially carcinogenic – depending on which studies you read.

All of us at times may experience…[Read more]

Would you consider buying in NZ?
Try Westan, TasmanInvestor, MiniMogul – all spotter for the land of the long white cloud

CastleDreamer

deals are still here in nz people, but westan is right , getting harder to find every day, have been on the road a week and only found two good opportunities that I have gotten to contract – one set of properties put an offer on and an Aussie bought them sight unseen from Australia for asking price + – I had offered asking price after seeing…[Read more]