Forum Replies Created
Hi Kiwi Pi, not a bad summary from betterbiz!!!
They have pretty much got it in one.
some spotters will be like you and find deals ahead of the client, others source property with specific criteria for their already identified clients, lots of ways it can work… PM me for info if you like.CastleDreamer
NZ Investor and Property Spotterweatherside = kind of hardiplank looking but fibro
CastleDreamer
NZ Investor and Property Spotterthese will certainly be worth watching to see what the outcome of the ASIC review/report ends up being!!
CastleDreamer
NZ Investor and Property SpotterWell so far, the NZ topic area is up and running well. For those new to NZ investing, ask questions here for certain, have a good look at the answers and for sure, understand that different people have differing personal circumstances, so what’s right for one person may differ for another. If you are unsure about what someone posts, PM them, or post a query back politely on the forum so that others who might also be unsure can view the response.
Also, don’t forget that there have been numerous posts in General Property before NZ Property came on line – you can search for hours in there and find all sorts of information of all sorts of quality!!
Happy learning and investing!!!
CastleDreamer
NZ Investor and Property Spotterall that glitters is not always gold!!! these loans appear to have a high establishment fee!!! (not saying that is bad, but that sort of cash might not be available to some investors to put into one investment property at the expense of being able to secure a second or third one as well) You get the time value of the money later, but lose it upfront with the fee…. would be interesting if someone could do the exercise to see the difference in the effect of leveraging the fee into a second and third property rather than into the first as a fee….
CastleDreamer
NZ Investor and Property SpotterI agree with the sentiments here, Kathy Chappell and Lamberton’s are both the most highly recommended rental managers that I hear spoken about in NZ investor circles for Tokoroa.
at the end of the day, you need a rental manager that is honest with you, remains in contact, replies quickly to enquiries and concerns you have, doesn’t muck around on maintenance (keeps tenant happy), and does what you need doing to get the optimal result from your investment. Both of these rental managers are well reported by several plus Aussies for being just that…..CastleDreamer
NZ Investor and Property SpotterPaying tax in Australia: this is general but here goes: Aussies pay tax on all personal worldwide income – whether or not they actually bring the money into the country – so if you have a profit or income in NZ and leave it there, the aussie ATO still requires you to declare it and pay tax on it if it is yours personally.
Yes the money is tax paid in NZ – but if you only paid say “5cents” in the dollar tax in NZ, the ATO will check what your marginal rate here is and tax you the difference so if you pay 47c in the dollar, then you will pay the ato 42c for your NZ income – gotta love the ATO……CastleDreamer
NZ Investor and Property SpotterHi all,
if you are intending to use ANZ in NZ, then suggest that same as you do here, you need to have a real person at the other end!!!.. PM me and I can provide an ANZ banker in NZ details who is very onto it with Aussie investors.
Cheers
CdCastleDreamer
NZ Investor and Property SpotterHi Tokyojoe,
I see masteraccountants mentioned here. Quite a few Aussies are accessing his services for structure setup and accountancy in NZ…
CheersCastleDreamer
NZ Investor and Property Spottera Quicklink for anyone who didn’t click where this was from……http://www.derivex.com.au/case_studies/home_loan_case_study.htm
CastleDreamer
NZ Investor and Property Spotter1. Is a trust best way to go for tax purposes?
Only your accountant can advise on tax stuff properly – as a general statement here, trusts are predominantly for asset protection, with tax minimisation benefits as secondary!! you will need to speak with an NZ accountant – a couple on the forum here if you do a search, and an Aussie accountant as well to make sure that your setup is best for you on both sides of the tasman.2.You can open a bank account in NZ without actually going there. one example (and there would be others) is ANZ where you deal with NZ branch but attend at Aussie branch to show proof of ID etc and the Aussie branch forwards onto NZ Branch for you…. so definitely possible.
I personally applied for finance and opened bank accounts and mortgages from Australia with a couple of different lenders without meeting the bank manager!!3. NZ investing is very open to Aussies, with little or no impediment to investing per se.
4. Suggest you do a search of the threads on NZ. there are literally hundreds of them on here with a lot of your queries discussed in more details.
Cheers
CDCastleDreamer
NZ Investor and Property SpotterTip 2:
if you are going to buy in NZ you may need to make lots of phone calls – when email is not quick enough – and sometimes they will need to be made quickly when you are not at home. Visit the local dairy/milkbar or Seven 11 and buy a phone card that lets you call from any phone prepaid, they are also a lot cheaper than many home phone plans.
Talking on the phone to your NZ contacts is als much better than email to establish a rapport and the impression that you are a ‘for real’ legitimate looker and not a tyer kicker!!
Just a thought….
Cheers
CD
CDCastleDreamer
NZ Investor and Property SpotterHi all,
most of the local council sites have a brochure or link describing the LIM, its origin, legal basis, and the kind of information it contains. I have attached some links here that might be of interest:
http://www.howtolaw.co.nz/html/ml111.asp
http://www.buildingguide.co.nz/?id=25The LIM can be ordered by your solicitor, or your building inspector might be able to go to the council directly and view the building file for you – the latter won’t have the formal report of the LIM, but can have the advantage that the builder has actually seen the garage on the block and then notices that it is not permitted in the file!!! Bit hard for the solicitor to see the garage!!!
the standard NZ contract allows you 10 working days from date of contract to make any issue with the LIM if you find anything of concern.
Have a read of the links!!
Cheers
CDCastleDreamer
“+CF properties in NZ available now, email CastleDreamer or Minimogul”Hi all,
regarding hire cars – if you plan to be travelling a lot consider at least a 1.6-1.8l engine vehicle. anything smaller can be very frustrating if you yourself and luggage in it and expect it to travel comfortably and quietly at 100kph.
the rentadent recommendation here is pretty good. I use them all the time for a corolla or subaru RX impreza or similar for 45 bucks a day unlimited k’s and low insurance excess.NZ roads are windy, uphill and down and take a lot longer to travel than many aussie roads. the extra power under the bonnet can go a long way to making the trip pleasant!!
Oh, and if you want to listen to music, get a car with a cd player or tape deck – radio station coverage is very poor between towns due to hilly nature of terrain!!!!
CastleDreamer
“+CF properties in NZ available now, email CastleDreamer or Minimogul”Hi there workfree,
no it is not essential to go to NZ to purchase a property, although that being the case you will need to do some homework here about areas and such that you might be interested in. Property spotters in NZ can assist you to purchase a house but they will not be able to make your decisions for you about area, finance, structure, type of property etc.
several of the property spotters on this forum have lists you can add email address to to receive deal info and updates. along with a search of the forum on NZ and New Zealand you can gather a lot of information and make a purchase without ever actually going to NZ – just needs a lot more research and homework here as you never see the place(some of which research can be reduced by leveraging off the time and knowledge of a property spotter)
Cheers
CDCastleDreamer
“+CF properties in NZ available now, email CastleDreamer or Minimogul”Muppet, we aren’t all in NZ at the moment!!! Just some of us enjoying the great weather and fantastic sunshine without the heat!!
CastleDreamer
“+CF properties in NZ available now, email CastleDreamer or Minimogul”Hi aspong,
least hefty fee I know of is around 1600 bucks to find out about a property, up to around 5K for some of the big firms like ESC Richmastery, and even higher depending on the type of property, have heard of a finder charging up to 10K for the right deal – I guess it would have to have been a big deal!!! some charge by percentage, but generally flat fee dependent on type of property.CastleDreamer
“+CF properties in NZ available now, email CastleDreamer or Minimogul”Hi there,
have a look in the white pages down there for buyer’s agents. I seem to recall seeing a couple of Agencies that advertised same whilst I was visiting friends last year.
Cheers
CastleDreamer
“+CF properties in NZ available now, email CastleDreamer or Minimogul”Yep, Westan is certainly ethical, professional and down right honest as a property spotter. I would recommend him as well.
Cheers CDCastleDreamer
“+CF properties in NZ available now, email CastleDreamer or Minimogul”Hi Aspong,
do you own property yourself? One of the things many clients will expect is that you have experience to assist them with their purchase. being a bird dog can be even more difficult than just hunting out your own deals, depending on the level of service you will offer.
would you intend to just find the proeprty and pass the info along to a client? would you sign it up on their behalf and negotiate it? organise building and valuation, pass the infor around between solicitors, bankers, clients, building inspectors etc etc.
fees do not seem to be related to level of service. our service is no where near as pricey as some offered in the market, but we are not the cheapest either. We do however offer a fairly extensive support to clients who request it and want it.
If all you are doing is getting a set of criteria from a clietn and then heading off to find the property that meets that criteria and thats it, then that will be a different kettle of fish.
Where do you intend to bird dog? In Australia, you will need to be licensed. YOu cant just head out to be a buyers’ agent off your own two cents.
but, bird dogging can get you started in the market – perhaps helping out a few people to start with who know what they are after so that they can provide criteria and such for you to follow.
Presenting findings; Andrew we generally present the figures, a two or three page review of the property, rental info, certificate of title, town and area information, other info that comes to hand about that property, and about 30-40 pictures so that hte client can see it through our eyes. we also provide a list of rental managers, building inspectors, valuers, financiers, insurers etc that we recommend without kickbacks.
so it can be as simple or as complex an offer of service as you like.
Cheers
CDCastleDreamer
“+CF properties in NZ available now, email CastleDreamer or Minimogul”
