Thanks for that Christopher, very helpful, I received more info from you via my email as well, so again thanks.
We are in the process of a development that we are looking at selling in 3-6mths time so wanted to know how to structure ourselves for this effectively. I expect that we need to set up the structure prior to selling?

thanks

[biggrin]

Hi there

What a horrible experience for your friend. I empathise.

I am having a similar experience, hope that my experience may help.
I am in the process of purchasing some land which has some bad history attached to it, and thus locals view this land as being ‘cursed’ and a local real estate agent advised me not to buy it as no one would want to rent the house that I built on it because of the history attached.. I talked and inquired further with the agent and challenged these notions……………….for example I would be quite happy to live in a new building regardless of what went on previously on that land……….
Personally it seems a great shame to me that the superstitions of the local people have left that plot of land sitting doing nothing for years with this terrible ‘aura’ around it…….My way of thinking is why let a bad experience label a place. Are we not able to overcome the bad with good?
Anyway after talking along these lines with the agent she said that she would and could happily sell the place once I had finished the development to people who were moving into the area,, who were perhaps unaffected by the locals opinions…….

I guess it depends how much power and belief you choose to give to what has occurred?
Perhaps your friend would do well to talk with the people involved to see what their protest is all about???? and then look to persuade them to a better way of thinking if appropriate??

The bottom line for me was that no bad experience should have the power to stop a good development…….

Anyway good luck and all the best……would be interested in knowing how it all turns out…….

Hi there
We were informed (by our solicitor) when we purchased in NZ that we would be liable for CGT if we sold our property, since we were residents in Australia….no other info/strategy to offer sorry as we are planning to hold long term.

All the best….

Hey there
YOu might want to PM Don and Liz. They seem to have a good handle on whats going on in Invercargill

All the best

Hey all

In defense of Tokoroa, I have been told by a local that many people live in Tokoroa and commute to nearby cities for work. She said that there have been many to arrive from Auckland who think that Tokoroa is a breath of fresh air after living in the big smoke, and because they are used to travelling up to 1 hr to their workplaces in Auckland, they are then quite happy to commute to nearby cities for work. To travel from Tokoroa to Rotorua or Hamilton for example is under 1hr drive. Also to be able to buy a home for much less dosh (compared to Auckland prices) is another major attraction.

Cheers
Mai

Hey all
I am having to get creative too to find the positively geared properties, however it is good practice crunching the numbers, and certainly makes you think outside the box, when trying to create a winner deal.

All the best
Mai

Hey there

I am pretty sure that to be entitled to keeping the FHOG, the property needs to be your MAIN place of residence. Ie appearances are not enough, at least one of the owners needs to be living there the majority of the time over a six mth period.

Good luck