Forum Replies Created

Viewing 20 posts - 1 through 20 (of 25 total)
  • Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi Guys

    The roof was slightly over exaggerated by an over anxious tenant, but there is still bora in area’s of the roof and bath room that have been there for “quite awhile” ie over a year according to my PM.

    The pre purchase inspection was done in Dec 03 and nothing was mentioned in the report. Also, there has been several other smaller maintenance issues that have been around for ‘quite awhile’ that also weren’t picked up in the report. Not happy!!!

    I found out, through the PM that this particular building inspector also has a property maintenance business on the side. Which on one hand explains why he failed to notice (more business for him) and on the other hand doesn’t make sense at all (should have recognised these problems).

    Cheers

    A disillusioned Ironman

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hope to retire between the ages of 25-30. Commitment and focus is the key for me.

    Cheers[:)]

    Ironman

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi all

    come on S.I.S..spill the beans. How do you buy no money down every time?

    You can PM if it’s a sensitive topic..hehe

    Regards

    Ironman

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi Qldlander

    I’m not so sure myself, but I think the site is residex.com.au or something like that[?][?]. I looked at it ages ago and it had heaps for good info.

    Good luck[:D]

    Ironman

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi James

    A few things…
    This is with a NZ trust buying NZ +ive property. If negatively gearing look at a LAQC.

    1. There is no tax free threshold ie. if you earn $0 to 25K (I think) your taxed at 19.5%.

    2. If you set up a NZ trust and dispurse the income to beneficiaries then they still pay that 19.5% on whatever comes out of the trust.

    3. Another option is to accumulate income from your assets, and not give it to your beneficiaries. However, this will accumulated income is taxed at a flat rate of 33%.

    4. Any beneficiary income that is taxed in NZ will give you a credit on your OZ tax return.

    A few personal notes
    I personally havn’t dealt with OZ finance for NZ property. But I highly recommend reading KPI magazine and using the search icon at the top of the screen. There has been a few posts on New Zealand and NZ trusts.

    Pick me up if I’ve got it wrong.

    Hope this helps

    Cheers[:D]

    Mr Ironman

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    richmond

    tall, dark, hairy chests…mainly male..i hope with the last characteristic[}:)][:D]

    cheers

    Ironman

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    140 and climbing fast..[:D]

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi all

    Why does a corporate trustee affect the LVR? I don’t see anymore risk[?].

    Regards

    Mr Ironman

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi all

    Thank you all for your detailed responses.[:)]
    I’m slowing bringing bits of the puzzle together. I’ve found a helpful accountant and solicitor in NZ who are familiar with my circumstances.

    Thanks again[:D]

    Anto

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi westan

    Put this link on the propertytalk.co.nz site[:D][:D][:D]

    Cheers

    Anto

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi all

    Tricky, tricky there seems to be no easy answers

    MY GOAL: Buy many properties in the next 4 years in NZ. Cash flow positive (of course). If this income is accumulated and used to buy more NZ properties wouldn’t it be better to keep it as a NZ trust?

    I was under the impression that Oz CG could be avoided? But now I’m not so sure.

    Cheers[:D]

    Anto

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    RodC, Melbear and co.

    I’ve previously had alot of conflicting advice regarding the location of the trust oz or nz. But it makes sense to set it up in Nz. I got onto propertytalk.co.nz…very helpful. Thanks alot[:)]

    I’ve spoken to a solicitor, but forgot to ask. Can you claim the NZ tax credit if your not a NZ citizen? How does that work?

    From what I understand if you draw on your accumulated rental income, annually you avoid income tax on those profits?[:P]. Is that true?

    I need a gooood book on trusts. Any recommendations? Would dales fit the bill considering its dealing with Oz trusts?[:I]

    Cheers[:D]

    Anto

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi Ghm

    Have you done that yourself? I thought you would have to set up a trust offshore for offshore investments. I’ll have to look into it further[8)].

    Cheers[:D]

    Anoto

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi all

    I’ve spoken to Oz and NZ accountants and they aren’t even sure?[xx(]

    Cheers[:D]

    Anto

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi S.I.S and co

    I’m 22 myself. Just starting- do you have any advice for a beginner on investment structure and capital raising?

    Cheers[:D]

    Anto

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi ChrisB

    I’m moving to another position in the same industry. So I will inform my bank. Thanks heaps

    Cheers[:D]

    Anto

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi Swampy

    Yeah! thanks for the site it’s very helpful. Do you know of any others?

    Cheers[:D]

    anto

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi S.I.S

    Are you reeeally still in school?. You are on here alot.

    Cheers[:D]

    Anto

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    hi richmond

    I’ll looked in property investor magazine. Is there anywhere on the net you can get median house prices?.

    Cheers[:D]

    Anto

    Profile photo of MrIronmanMrIronman
    Member
    @mrironman
    Join Date: 2003
    Post Count: 38

    Hi S.I.S

    I wasn’t one for school. I went to 6 including tafe for first year of vce. I ended up finally finishing up at a private school, which was the best experience of my life to date. More of a community feel, better resources available, and alot of successul people willing to give advice.

    Not that I saying public schools didn’t have any of these characteristics. I just didn’t get to experience them in the public school system.

    Cheers[:D]

    anto

Viewing 20 posts - 1 through 20 (of 25 total)