Forum Replies Created
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 are calculated on a lower rent than i believe we can acheive and a high interets rate – just being conservative.
Have considered the uni student issue with flats in Dunedin, and yes I have seen some real dumps! These are tidy and well maintained which I believe is they key to keeping them that way, also will provide weekly cleaning and rubbish removal to tenants (costed into rent of course).
One is near the casino (2 blocks SOuth) and other is in North East Valley.Cheers
FlyHigh [cap]
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 things “their way”
5. Not charge for every little thing that they do (some charge for statements, inspections, etc) I would rather they escalated to me and let me handle it.If you want my attention in an ad try not rattling off the same approach that all property managers use but concentrate on value add for a landlord (and do as you say!)
FlyHigh [cap]
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 look at some recent sales of similar units or units currently for sale to confirm price is about right. The RE agent should be able to advise what the expected rent return is in the area (get a second opinion as well given they want to make the sale!).Cheers
FlyHigh [cap]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 reading and then read $1m in property in 1 year, his latest book.
FlyHigh [cap]
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 the tax you already paid (or were liable to pay) in NZ.
Hope this makes sense, more details you’ll need to look at the respective websites
FlyHigh [cap]
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=762. Buyers Agents
http://www.richmastery.co.nz/defaultNZ.asp (ESC’s site)
http://www.hpc.co.nz/index.php?nav_section=HOME (Kieran Trasses site)
http://www.hotpropertyinvestments.co.nz/content.php?id=Con99&cat=3&subcat=3 (Doug Woodyard’s site)3. Real Estate For Sale sites.
http://www.homesearchnzltd.co.nz
http://www.open2view.co.nz
http://www.realenz.co.nz/misc/menuhome_frames.cfm
http://www.propertystuff.co.nz/45b8f38f2f6cdc26/
http://www.homesell.co.nz/4. Mortgage interest sites. These are updated whenever changes are made.
http://www.interest.co.nz/mortgages.html
http://www.goodreturns.co.nz/section.php?CategoryID=200 (has more functionality than above site.)4a. On – line Money Management Magazine. Has several sections that provide useful information on financial matters. It also has an excellent book section.
http://www.goodreturns.co.nz5. Forum sites
http://www.propertytalk.co.nz/index.php
http://www.landlords.co.nz/
http://www.somersoft.com/forums/
http://www.housemouse.co.nz/index.php
https://www.propertyinvesting.com/6. Property Coaches/Mentors
http://www.propertyinvestor.info/index.php (Andrew King)
http://www.richmastery.co.nz/defaultNZ.asp (Phil Jones)
http://www.hpc.co.nz/index.php?nav_section=HOME (Kieran Trass)6b. Maps etc
http://www.geographx.co.nz/
http://www.tumonz.co.nz/
http://www.livingstoneguides.com/
http://www.wises.co.nz/
http://www.propertytalk.co.nz/images/nz/newzealandmap.gif
http://www.nzmaps.co.nz/7. Trusts
http://www.propertytalk.co.nz/modules.php?name=Content&pa=list_pages_categories&cid=38. LAQCs
http://www.propertytalk.co.nz/modules.php?name=Content&pa=list_pages_categories&cid=79. Here is the main link to our articles section where you can find loads of articles on finance, tax, trusts, NZ facts etc…
http://www.propertytalk.co.nz/modules.php?name=Content10. Lawyers (As recommended by formites)
http://www.yellow.co.nz/site/alanclarklawyer/
http://www.fortunemanning.co.nz11. Council Links
http://www.bricksandmortar.co.nz/taxlegal/govt.php12. Comprehensive NZ Property Information
https://www.terranet.co.nz/terranet/index.jsp?contentPage=nli_register.htm13. Aussies – How to Buy in NZ
http://www.propertytalk.co.nz/modules.php?name=Forums&file=viewtopic&t=256 Posted by RodC and others.14. Values:
https://www.quotable.co.nz/default.aspx15. Stats:
http://www.stats.govt.nz/
http://www.world-gazetteer.com/c/c_nz.htm#pl_244
http://www.stats.govt.nz/domino/external/web/prod_serv.nsf/7bf6387b49c5291acc256b16006b54ee?OpenView
http://xtabs.stats.govt.nz/eng/statsbyarea/area_urban.asp16. Government
http://www.govt.nz/
http://www.investnewzealand.govt.nz/page_Article/0%2C1300%2C3000%2C00.html17. Local Government:
http://www.envbop.govt.nz/default.asp
http://www.localgovt.co.nz/
http://www.swktodc.govt.nz/index.htm
http://www.oultwood.com/localgov/newzealand.htm18. Magazines:
NZ Property Magazine – http://www.goodreturns.co.nz
http://www.kpi.co.nz
http://www.apimagazine.com.au/19. Property Info sites:
http://www.nzpi.co.nz/index.html20. Property management:
http://www.propertyreturns.com/21. Insurance:
http://www.rentsure.co.nz/index.html
http://www.nzi.co.nz/22. Management Software:
http://www.rentmaster.co.nz/23. RE Agents:
http://www.reinz.org.nz/
http://harcourts.co.nz24. Search Engines
http://www.searchnz.co.nz./
http://www.yellowpages.co.nz/25. Market Rent Info
http://www.minhousing.govt.nz/tenancy/Market-Rent/market%20rent%20region.asp (updated every month)26. Building inspections:
http://www.houseinspector.co.nz/
http://ezyinfo.co.nz/link.php?link_id=13627. Registered Valuers
http://www.valuers.co.nz/
http://www.valuersrotorua.co.nz/
http://www.valuit.co.nz (chattel valuations)28. Property Search:
http://www.privatesale.co.nz/
http://www.trademe.co.nz/
http://www.homesell.co.nz/index.php (thanks Marcus)29. Kieran’s Floating Mortgage Interest Rates 1984-2003
http://www.propertytalk.co.nz/modules.php?name=Content&pa=showpage&pid=7730. Tenant Checks
http://www.tenantcheck.co.nz./31. Chattel Valuations
http://www.propertytalk.co.nz/modules.php?name=Content&pa=showpage&pid=7832. Hot Property Books
http://www.financialsuccesssystems.com/Books.htm33. Australian Mortgage Broker for finance in New Zealand.
http://www.mobilemortgagemarket.com.au (Steven)34. Author/Motivator
http://www.noelwhittaker.com.au/ie/order.html35. Property Development Planning
http://www.smartpropertydevelopment.com.au/development-checklist.pdf36. Inland Revenue Department
For anyone else tuning in, here’s the link to form IR 292, entitled “New Zealand tax residence – Who is a New Zealand resident for tax purposes?” and dated July 2003. (Thanks englishmum)
http://www.ird.govt.nz/library/publications/geninfo/ir292.pdf37. Do-it-Yourself
http://www.do-it-yourself.com.au/38. Credit Checks
You do have to pay.
http://www.personalreference.co.nz/services.asp39. Homes for Rent
http://www.findarentalhome.co.nz/40. Latest News
Type in the town or city you are researching for possible news about it.
http://news.google.co.nz/41. Offshore Investors wanting to buy in NZ (Thanks SarahK)
http://www.nzpd.net.nz
http://www.investinnewzealand.co.uk42. TAXATION IMPLICATIONS OF INVESTING IN NEW ZEALAND(Thanks Mini)
http://www.queenstownproperty.com/taxation_information.html43. God’s Web Site.
http://www.god.com/44 . Questions for property Investors – Why?
http://www.propertytalk.co.nz/modules.php?name=Forums&file=viewtopic&t=662&start=045. Tax Book for Property Investors. recommended
http://www.wt.co.nz46. Comprehensive Site for Australians
http://www.somersoft.com/forums/links.php?action=line47. Awesome Site for NZ Property Investors
http://www.theshapeofmoney.co.nz/default.asp48. Monthly average House Prices (Jetblue)
http://www.reinz.org.nz/marketfacts/index.htm49. Rentmaster’s great property links site.
http://www.rentmaster.co.nz/links.aspx50. Tenancy Advice
http://www.tenancypractice.co.nz/index.htm51. Froogle Search Engine for Property Analysis (Thanks Cat)
http://froogle.google.com/froogle?cat=429&q=property+analysis+software+nzHouse price changes over 10 years
http://www.reinz.org.nz/marketfacts/index.htm
FlyHigh [cap]
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 nominally subdivide it and sell “lots” for a low cost (eg. 8000 pounds for a 350m2 lot). You then wait (and hope) that planning approval is given at some point. When that happens they sell to a developer and you make profits.
FlyHigh [cap]
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 argumentsCheers
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]
