Sorry all for my slackness in any responses on this – my computer had a meltdown for a few days!

Although CoCR may seem low, remember this is after tax and is higher than all other properties I have seen for sale in NZ. I also got valuations showing that we are paying much less than their valuation so expect capital growth in there.
The numbers…[Read more]

For my properties rental managers must:
1. Think of tenants as their income source (thru me) and therefore treat them with due respect
2. Be proactive in managing tenants to ensure issues are addressed (or raised up to me for further attention)
3. Not just collect the rent (that’s the easy part)
4. Be willing to take my input and not just do…[Read more]

I live in Melbourne and the properties would be managed locally in Dunedin by a property manager. Rooms would be rented out individually in the 8 bed house and either indivdually or to a group of 5 persons in the other 2 houses.
Around 930k for property 1 and around 400k for property 2.

FlyHigh

SnowGum

I just picked up a block of 6 units in NZ and had the same concern as you before purchasing them. I looked at the cap rate (rent return) for the area to confirm that the price I paid was correct and also applied that rent return against individual units for sale or sold in the area to cross check that the price was correct.
Suggest you…[Read more]

Census data doesn’t paint the picture of the town today (some 3 years later). You should also look at industry and job opportunities in and around the town. If industry is closing then that is a cause for concern.
Suggest you search for any recent news on the town.

FlyHigh [cap]

At his Melbourne launch he said he is taking a break for a few months and may annouce another venture early next year. Also said he does not intent to do that type of format again as it takes up a considerable amount of his time.

FlyHigh [cap]

The book is not another Robert Kiosaki type book. It discusses Steve’s approach to investing for positive cashflow rather than the traditional negative gearing. He talks about the different ways to make an investment work and some of the areas he invested in (although most of those would not have the same opportunity today).

Absolutely worth…[Read more]

Scotty B

NZ tax year is April 1 to March 30

NZ tax department will not send you a letter as it is a self assessment system like Australia.

So basically after April 1 each year you submit a NZ tax return and pay/receive whats owed/owing. Then in Australia after June 30 you do the same except you also add your NZ income and claim a credit for…[Read more]

You will need to submit 2, 1 for your NZ properies in NZ and 1 for your Australian income and NZ properties in Australia.

Tax agreements between the 2 countries means you get a credit for tax paid in NZ for your Australian tax return.

FlyHigh [cap]

Bird dogging is +ve CF property spotting on behalf of others (for a fee of course). Westan and MiniMogul do it in NZ, and there are others out there.

FlyHigh [cap]

JD

Here is a NZ list (thanks to propertytalk.co.nz), I don’t have a comprehensive Australia list at this stage:

1. Kieran’s property graph for the last 20 yrs.
http://www.propertytalk.co.nz/modules.php?name=Content&pa=showpage&pid=76

2. Buyers Agents
http://www.richmastery.co.nz/defaultNZ.asp (ESC’s…[Read more]

I have used Sanjay Chotais in Toowong 3371 7633, very knowledgeable

FlyHigh [cap]

It’s at home, I’ll PM you tomorrow with the name

FlyHigh [cap]

I believe you can rent it our for up to 6 years after having lived in it without paying CGT, so long as it is still your PPOR.

FlyHigh [cap]

Sure

Eg one company matches up tenants with yr IP and puts the tenant on a lease to purchase contract where they manage the whole process from start to finish (over a 7 year period). They charge the tenant a fee and the owner.

Or another that locates land in the UK that does not as yet have any planning approval for residential housing. The…[Read more]

I went today

Heaps of sales pitches but also some interesting presenters. Guy from Residex gave some interesting stats on rental markets and their hot picks for capital growth in Melbourne, Brisbane, and Sydney.
I was amazed at the concepts businesses come up with to flog real estate!
Also heard the capital gains vs +ve CF arguments

Cheers
FlyHigh [cap]

You could try redrawing the loan on your PPOR if you have one, or borrow against the equity but lenders need evidence of repayment ability also.

Suggest you talk to your / a lender to see what options they can offer

good Luck!

FlyHigh

If lender has valued IP at $320k then would expect them to loan up to 80% of value therefore you could get another $41k (max loan amt 256k less current loan of 215k)

FlyHigh [cap]

Thanks to everyone for their feedback, us NZ market learners appreciate the input.

FlyHigh

Thanks for the info Muppet, I’m heading over in a couple of weeks to check things out. Will certainly look up those property agents.

Cheers

FlyHigh [cap]