hi all
not wanting to be the bug in the ointment but I think this needs to be answer by an accountant or tax person because as far As I know the first home owners scheme is exactly that your first home and in applying for it you must not have owned any property before and that includes if you are a partner in a purchase.
I stand corrected if wrong…[Read more]

thanks spi
as the tag says Im here to help.
I need the help just as much as you.
Only I know my market put I haven’t got a clue about yours and theres business opportunities in lots of areas

here to help

Hi Scott_C
have you been talking to some of the banks I deal with?????
most of my deals are done this way.
I work out the 12 interest component for the loan and then deposit that into a term deposit and let them draw from that.
They then don’t look at serviceablity.
Just put in 2 loans today for two syndicates for total 9 million and currently…[Read more]

hi kdr
not sure at what stage you are at.
plans done
submitted
da ( development application approved)
cc (construction certificate)
start to build.
but that is the process.
Contract builders are good but independant are better in my view( but I am one eyed as we are builders).
Ring up a couple of builder and get them to give you a fixed price…[Read more]

Hi Rajeev
For me its not a spotting fee but call it what you like it is very common in the commercial market.
First you need to setup an account with a solicitor or real estate the same as that the deposits go into for real estate purchases.
This is not releast until the property is exchanged the same with your commission. you just set it up that…[Read more]

hi ax6
Talk to your banks finacial advicer its free, then your accountant.
Not knowing your financials and business structure makes it hard but the loan would be the way to aim.
Just make sure that both of the above are working together for you to reach your goals.
Selling maybe the way to go if these to two looking at your situation agree, low…[Read more]

Hi
This ones for the accountants but when you have the answer post it, as I think you can claim as long as you have a company doing the investing ( searching)and a trust doing the holding(purchase)
not sure of your setup.
It will depend on the setup structure you are using.
They are funny people accountants(even thou they don’t know it)they get…[Read more]

hi linar
I would do two things.
first send a letter to the owner or managing director of the independant valuer company explaining what has happen and that you want them to send a letter to the real estate.
Stating that the valuer was working on your behalf and that any information by the valuer is propriortary information and is to be given to…[Read more]

Hi banderos
first this is a forum for general information and all my post are for general information only.
as for not being a good investor I’m not sure as I don’t know your details.

but all that aside.
To get free legal advice and that is what you are asking can only be given by a lawyer or solicitor so look where free ones are.
Go to the local…[Read more]

no problem as the tag says here to help.
we all may need help one day.
read a few of your responses well done.
We are all learning, I have used this before but I like it.
When a rich man meets a wise man the rich man becomes a little wiser and the wise man becomes a lttle richer.

here to help

nice reply hmackay
milenko at 21 its along road so don’t start off with three wheels on the car make sure that you have set up the right structure to hold your investments.
Talk to your bank and find there financial advicer and talk to an accountant.
Every body has different views I won’t give you mine because you need to set this up for your own…[Read more]

hi
like the response dassling.
and its correct.

started granville(syd)(drossville then)39,000

12 months later sold 95,000

purchase before sale merrylands $85,000.00

2 years later sold 135,000
bought at auction prior to sale
renovate second storey addition current value 1.5 mil
primary residence no capital gain tax.

As for I can’t afford to…[Read more]

hi
not sure why you would want to sell.
unless you want the money and run.
I’m not a great believer in p&l i’m an interest only for tax reasons person.
you sold the family home so what is your present primary residence, if this became the primary residence and was held for a certain time (accountant can tell you how long) then the capital gain…[Read more]

hi all
with regard to the company against trust.
any accountants put there.
I was of the opinion that when you sold a property out of the company that capital gain was at 42% were as trust if setup correctly is substantally less.
also as I have read there is different rules for company transfers with in different states.I will have a look at this…[Read more]

Hi
If you want to fast track you must take control and work with the council depending on the value of the project depends your time involvement.

With me its full time but I have a couple of businesses.
The architect gets it to da cc but you must manipulate the system to work for you by going happy and regular and asking if you can solve any…[Read more]

Thanks will have a read
The more information the better

here to help

good post
most of this type of trust arrangement must be organised by an accountant and a good one at that.
There are alot of types of trust and are used for different purposes if you have got this far you or the person who set up the trust knows why you set it up.
Not sure about nz tax rules but it a good idea when you have setup this structure…[Read more]

hifoundation

Just for the record f I only do 65% gross realisation lends and banks work on a gross profit for a development site of 35%.
So that is why you could shave 30 to 40% off the price.

But if everyone did this people like me would go hungry.

These are our 8th site currently and I hope for my sake that I do know what I’m doing sometimes…[Read more]

hi hmackay

Creditor attack is exactly that.

If you own a house, shop, any business and someone won’ts to sue you they will.

If your in a cyndicate and it goes west the creditors will come looking for the big fish first and real estate is the easiest to cash up.

So just like any attack you must have systems in place to defend your position.

If…[Read more]

Hi all
It also removes another little thorn that has been stuck in developers backs for some time.call me a little cynical but this was on the cards for some time.

Goes like this bob ( no reference or intention to any person just your average bob or joe in the street could have done the same had they known)buys in nz, the tax came in, nz prices…[Read more]