Originally posted by MiniMogul:
We don’t actually buy properties on anyone’s behalf. We put a contract on the properties in our own name, and if someone wants to buy the property, they pay us to take the contract on.
I’m interested to know a little more about how this bird doggin’ works.

Do you take on contracts specifically to match client…[Read more]

When I enquired about the NAB pro package a few years ago, it was 0.5% lower interest rate and had no establishment fee, but it did have quite a high monthly fee (can’t remember what it was now).

But as I didn’t proceed with the loan, I didn’t bother to figure out how much difference it made relative to their other loans.

GP

Originally posted by Geronimo:And don’t you find it funny that you need the biggest room in the house for the home office?
There was an article in Sunday’s Telegraph (which I can’t find a link to) about how the tax office is about to focus on investment property and home office deductions, amongst other things.

So it may be worthwhile ensuring…[Read more]

While not quite an investor yet, I rented for something like 20 years in more places than I can remember.

One of the best was a house I shared in Christchurch where the landlord lived just over the back fence. They had a large vegetable garden and would often throw veges over the fence for us in season. [chef]

One of the worst was a house I…[Read more]

Originally posted by MortgageHunter:
University is full of beautiful smart girls…
And lots of them – provided you don’t study engineering! [grad]

GP
ex-engineering student

Originally posted by breakfree:
if some one sues the trustee, will the assets in trust still be protected.

From my understanding, in that situation the appointer can sack the trustee and appoint another one.

But I believe there are situations where the directors of the trustee company may also be liable, in which case you wouldn’t want them as…[Read more]

Originally posted by NZ Mortgage Broker:
Yes it will depend on location and value but also the strength of you own financial position in relation to assets and income.
Will a NZ lender take into consideration Australian assets (primarily PPoR) when considering a loan application, or only NZ assets?

GP

Andrew,

As someone who has just recently been studying this same issue…

Dale Gatherum-Goss has a couple of good books on trusts and tax issues called “Trust Magic” and “Tax Battles”. You can order them by sending an email from his Website:

http://www.gatherumgoss.com

They’re cheaper if you buy both at the same time.

Chris Batten also has…[Read more]

Sebastian,

If you want to ask Dale, nip over to the Somersoft forums and post a message in the Accounting and Tax or Legal Issues section.

http://www.somersoft.com/forums

GP

Lisa Dudson & Andrew King’s book “The Complete Guide to Residential Property Investment in New Zealand” has quite a good overview.

http://www.goodreturns.co.nz/books/product_info.php?products_id=146

GP

George,

Thanks for the info.

I assume you’ve been communicating with one
Not at this stage. I guess I’ll probably look for a mortgage broker in NZ when I’m ready, but right now I’m just gathering info.

I can refer you to my lender in NZ
A broker?

What part of the country is he in?

Cheers,
GP

Originally posted by CastleDreamer:
there are no termites in NZ
Really?

No termites, no poisonous snakes, only one poisonous spider…

Where’s their sense of adventure? [biggrin]

(oh that’s right – sandflies)

GP

While I can imagine it being motivational, would I likely learn anything that I can’t read in his books?

GP

Originally posted by muppet:
Anyway most of the piles are now made of concrete
Yes, well, my comment wasn’t really about those sorts of piles [evilgrin]

However, I don’t know that concrete piles by themselves would stop termites. Most I’ve seen here are brick and they still need ant caps on them.

Certainly better than timber though.

GP

Steven,

Thanks for the reply.

Looks like borrowing in NZ is going to be the way to go.

Although that does raise the question of what happens if they want security beyond the IP itself (I assume that a NZ lender would not accept my Australian PPoR as security either) and, for overall -ve cash flow, whether they’d see servicibility problems with…[Read more]

Nick,

Thanks for the response.

Wayne

I mostly do programming these days, primarily real-time embedded systems but also some PC stuff, interspersed with moments of electronics.

GP

the houses are held up by piles!!!
And we all know what a pain in the butt piles can be…

Muppet,

Residential property and rents for same are excluded from GST
Thanks for the info.

Looking back on the Website, I see the ones that indicate +GST seem to be all vacant land, some of it described as rural with grazing, so I guess that’s classed as commercial.

GP

Aussiemike,

Thanks for the info.

Wayne