Yep, Tokoroa has had a big interest from Aussies, having said that, why wouldn’t it? Positive cashflow. All of the big amenities in town: Warehouse, maccas, a tertiary campus. lot’s of schools, great weather, and homeownership and employment figures the average of NZ (in other words not high unemployment, or unstable population) As to…[Read more]

thoughts from my accountant. If you are primarily operating as an “Investor”, with the majority of your income coming from that, then the trip would be a business trip.
CD

CastleDreamer

Hi guys,

I have property in Australia. Had it valued, took out a LOC to 80% value (therefore no mortgage insurance). The LOC sits in a separate account, and I use it specifically for the deposits and expenses for purchasing NZ property. Your NZ portfolio is completely independent in that it is in no way secured against your Aus portfolio or…[Read more]

Equity in house:
Value * 80% – mortgage = Equity available without mortgage insurance
125K *80%=100K – 74K = 26K equity available without mortgage insurance.

Access:
Speak with your bank to have a line of credit extended against the equity, or to extend the total loan figure up to the 100K level.

If rent is 280/wk and repayments are…[Read more]

Hi Sibo,
some references to this under the thread “spotters fees”
Cheers
CD

CastleDreamer

Hi Shane,
G’day,
You ONLY earn about 80K per annum? That’s not a bad income to start with.
Have you investigated what the bank will offer you to continue borrowing? Perhaps a broker could evaluate your position with the three current -IPs to determine your current borrowing capacity to go and purchase +IPs.
How much are your holding costs for…[Read more]

Yep, seratone is from Fletcher Wood Panelling which owns Laminex, or is it the other way around? Both products are really cool. You might also hear people talking about lamipanel when they mean seratone or lamipanel or other brands of similar product

CastleDreamer

Hi Pisces,
I was in Timor – same horror stories, so quickly forgotten as Rwanda – and I sense from your post a lack of respect for UN – found that myself in Timor – the Civil arm of UN that is.

CastleDreamer

Hi all, lamipanel is a Laminex branded wall panelling – it is slightly different to the panelling that looks like tiles. Lamipanel can be found on the Laminex website – all up it cost me about the same price to use lamipanel in my bathroom at home, as it would have done to use tiles – but the lamipanel i used is beech colour like laminex beech…[Read more]

like elves said, you can use the search engine here, also could go to propertytalk.co.nz – great site for NZ investors.
Cheers
CD

CastleDreamer

Hi there,
I did a reno in Brisbane last year 23K and three and a half weeks full time with my dad got me:
New kitchen, new bathroom, new floor coverings, new paint throughout, new plumbing and wiring, several panes of glass for windows, front picket fence, new gravel driveway, two trees removed and stumps ground out, and a partridge in a pear…[Read more]

Hi KiwiZena,
“dust in your coffee?” Watch out for asbestos in your coffee!!!

I renovated a place in Brighton Brisbane last year – two weeks living in the place sleeping on a camp stretcher with no hot water or electricity – in Winter!!!! AHHH! for an acclimatised QLDr it was cold ++++. We did the lot, stripped the bathroom and kitchen, carpets…[Read more]

Hey Hux, your bank should allow you to net bank it from NZ to Aus – mine does – its just that it costs 25NZD out and 10AUD when it gets here.

Sending money to NZ costs me 20AUD out and 20NZD there. ‘telegraphic transfers’ are cheaper if I do them on the net than over the counter.
Cheers
CD

CastleDreamer

Hi Hux,
don’t know what the other guys are doing precisely, but this is my plan. For the first year, pay all loans interest only, accumulate all cash flow into NZ savings account, bring it home in larger amounts maybe every couple of months – otherwise the telegraphic transfer costs will get you.
Other ideas you could consider – get an NZ credit…[Read more]

Hi Stingray,

I encountered this problem about three years ago with one of the major lenders – they came in with a very low valuation that put me at about 85% lend for the next purchase. When I argued with them about the valuation, they said that that was how they did it, that they valued the property on what it would be worth to sell RIGHT NOW.…[Read more]

Jaffasoft, I LIKE the calculator!!

CastleDreamer

Auctions melb or syd, private buyers in bigger cities

CastleDreamer

Nugen you are right, can’t claim the deductions against aussie income, you claim them against your kiwi income from your cf+ houses. this reduces the amount of taxable income you make on paper, so as mini said, you pay less tax, and take more money home! Yep still pay tax in australia, yep if you make a ‘loss’ in NZ then it stays there…[Read more]

Come on Mini, where’s part II?????/

CastleDreamer

Ta Muppet
Cheers
CD!

CastleDreamer