my suggestion would be to use a ‘bird-dog’ as Mini calls it.
Get in contact with Westan, Mini, CastleDreamer, Brent or Muppet just to name a few – they are good at finding deals with good returns for a spotters fee. Since it is an overseas investment, it’s best you use one of these investors as an agent representative before you start buying by yourself.
I would have hoped that there would be some expert who could advise on the pros and cons of NZ structures versus Aussie structures – Im yet to find one…[confused2]
well – what can I say…I just settled on an aged-care unit 3 weeks ago. They can be a bit pricey at times.
A warning – be very very careful and cautious. There are many hidden costs involved when comparing to purchasing an average residential home. Give the contract to your solicitor and ask them to go through it and put in writing all the costs involved – especially, ask about the ‘Deferred Management Fees’ – these are usually quite high – ranging from 5% to 25%. There is also Retirement Services Costs involved – usualally 2-3% for every year you own the unit which is payable in total upon selling the Unit.
Oh well – Kay is of very little faith…If she believes, I will buy her dinner and remind me when im a millionaire, I will throw in two virgin flights for you both and claim it on TAX[biggrin][biggrin][biggrin]…
I think we should hire out the MCG or Rod Laver Arena and all of us should just catch up and have a good laugh – life’s too short to be[glum]…
this would work well with a family like yours Westan – all set up. I would follow the same if I was married with children.
But as Im single, If I was the Appointer, the Trustee and the Beneficiary who owns the Trust, and I (as the Trustee) got sued, I (as the Appointer) would then sack the Trustee (who is myself) and appoint another.
The office of Dale Gatherum said this would cause me a dilemma as I would be sacking myself – they said it’s possible but it wouldn’t go down well in a court case.
I wouldn’t think like that – be positive and just go for it. Try not to think of too many ppl investing and don’t delay – Procrastination is deadly – Trust me I know!
Hey Anubis,
just out of curiosity, what made you choose that nickname?
I agree with WAF – some areas in QLD are booming but there are alot of ‘shonsters’ – be careful and be a bit more specific – where do you wish to buy and what do you wish to buy ( a residential prop, an apartment…etc.)
whatever you find, first do the math – look at the returns versus the risk involved. Look at the fluctuation in population of that town or suburb, the crime rate, the amenities, Council proposals. Do your due diligence and you should be safe. ther is no clear cut answer that someone on this forum cab give you in whether to buy or not to buy a certain property – THE CHOICE IS YOURS.
Im working with a lender in the South of NZ although Im a Melburnian and he said he can get me 90%. If its true and he succeeds in doing so, I’ll pass his details onto you all – I should know within a week. He approved it over the phone, but Id like to get something in writing so I know for certain then I’ll give you all his details.
kind Regards,
George.
“If You never never ask, you’ll never never know”
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