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Hi Sinead,
Me and my wife wer there too. Steve’s seminar hit the mark just right for us. It changed my paradigm’s and reinforced having our strategy written down and clearer. That way I know where we currently are, and what outcome we want. Buying the profit is definitely harder now, even in the provincial centres, so you have to put on your thinking caps to make the profit.For us we are planning to do property trading to build up some quick cash. We already have a deal on the go. We also attended another 4 hour seminar on Tuesday night by the Ray White Manukau’s principal, Don Ha. I was skeptical at first because of the sponsor but was pleasantly surprised. He made his money firstly as a real estate agent (selling on average 80-90 properties pa for last 11 years or so) then doing trading and developments, plus some buy and holds at the same time. His message was similar to Steve’s and quite simple – TAKE ACTION!!
Thanks!!
Hi, I’m not overly experienced but have had some direct experience with this.
Not sure how you have depreciation recovered and capital gains tied in. As I understand it, capital gain in NZ are taxed only if you are a trader and the original intention was to buy and sell the property for a gain as opposed to buying to realise income (rent). If you sell with them latter intent your capital gain should not be taxable.
DR is a separate issue. If you claim it with a LAQC (Loss Attributing Qualifying Company) company you are liable to repay any depreciation claimed in the following tax year. There are ways to minimise this recovery but your accountant can best explain this as it gets a bit technical.
Hope this helps, and may be other more experienced investors and/or accountants can further comment and correct any details I have got wrong.
Cheers
Hi Rob & Jo,
we were at the same MasterClass yesterday. We are NZers and cuurently have 6 properties in NZ, including 4 in Auckland but have stagnated. For us, we found Steve’s seminar hit the mark when he talked about having your strategy and plan in place before you move ahead. It’s easy just to apply a ‘scatter gun’ approach without a plan. But if you know what problems you can and want to solve, then find those properties with the problems you will solve, your profit should automatically follow! I suggest you do Steve’s Homework for the next 7 days and start to develop your strategy and plan. We are doing this (this post is part of the homework assignments) and believe it will help us get our momentum back.
Good luck.
$20 is a no brainer. Your tenants would appreciate it, and if they are good ones will retain them for longer.
Cheers,
FPLYou’re sitting on a website that has provided proven strategies to lots of Australian and NZ investors. I suggest you find out when Steve and Dave run their next Masterclass or similar. They provide great info to get your investing thinking and strategy heading in the right direction.
I’ve just come out of their Masterclass in NZ. I ask you, why look at negative geared properties when there are so many positive cashflow opportunities/problems waiting to be solved?
Good luck.
Hi just joined this forum (from NZ).
Have you considered a basic cosmetic reno and quickly selling the underperforming property, and start again afresh?
Sorry if I have not understoood all the subtlties of your situation but hope this helps.
