Consider the breach of privacy issues that may arise.

Has been discussed plenty of times previously – unlikely to happen (again).

Provided that the lessor and the lessee are separate entities, there should be no issues.

Conversely, if a tenant was to purchase a property in the same name as appears on the lease, the lease is extinguished.

Any submission to council will require the owners consent, if you have joint ownership both owners will need to sign the application.

During construction, you do not have control over the site as they are appointed the Principal Contractor. OHS is the responsibility of the building contractor and should be covered by them until handover.

My 2c, there's little chance of 10% + median price increases for several reasons:

affordability (unless wages increase substantially)

lack of new projects coming out of the ground (ie supply isn't going to go thru the roof so there is no stock of new property which will be driving prices upwards)

lack of new (green) blood in the market -…[Read more]

If it is common area, it is not yours to value (unless I am mistaken), you may have some minor benefit eg turning circle but nothing tangible as it is not yours it is common property. What figure do you expect a valuer to ascribe to something that you do not own?

As the entry point for units is much lower than houses, you may benefit from stamp duty exemptions, lower holding costs etc. So a buy, renovate & sell approach or buy & hold can both work.

I use rentmaster.co.nz

$115 on special at present. Will handle up to 15 properties. or you can upscale their system.

I agree with Shahin on several points: diversify, long term strategy etc. If you do purchase inside your smsf you cannot live in the property but it may allow you to consider selling your other properties to diversify.

It depends on your circumstances – if the house is in your name, then you would be on the lowest tax bracket and may not need to pay tax on the income if the net income is below your tax-free threshold . If it is in your husband's name only, then the loss (if negatively geared) would serve to reduce his income and he would pay slightly less tax.…[Read more]

TheFinanceShop wrote:
Lastly be careful amount putting all your eggs in the one basket. 

Regards

Shahin

A dollop of great advice which many ignore – diversification is still very important.

As the dust settles from your settlement and the ex cannot access any more of your super but your ex & kids get % of your income, investing via your super may make sense especially if you want to quarrantine the income or assets going forwards.

GP = SP – Purchase cost – legals(both purchase & selling) – agent comms – stamp duty + depreciation claimed

GP =  350000-300000-1000 – 14,000=  35000

Discount for ownership greater than 12 months = 50%

So you then apply your MRT to the balance of $17,500

essentially, half of not much.

Matt, are you in sale (ie register jockey) or sales – business to business? If you move across into b2b sales, then you would have greater opportunity not to be on the minimum wage but working for a base + commission (often uncapped).

Starting a business will require spending capital to start up as well as ongoing expenses – do you have the…[Read more]

eilatan28 wrote:
is it just a matter of approaching agents to see if they have any current buyers looking ??

Basically, you can either contact agents directly or via site like 'sell my castle' who will email several agents who will provide (generic) proposals and market appraisals.

eilatan28 wrote:
Or are they going to try to sign me up and…[Read more]

Matt has hit the nail on the head. The development will hinge on the zoning that you have as well as what the DCP contains ie it may be zoned appropriately however may not meet the other site constraints in the local planning requirements. Speak to an independent town planner to see what they say.

It all depends upon the service that you're after.

As per JP above, must be a pretty low agent and will need to be able to prove that you were introduced to the property by the agent ie did you contact the agent or inspect with the agent? If so, how long ago?

It is up to the vendor to sort this out as you have no contract with the agent.

If I were the tradie, I would utilise the Security of Payments legislation to recover the payment ie it doesn't apply to your PPOR however you are not protected if it is an IP. They have completed the work at the direction of the agent (your representative) and have a legal right to be paid. 

If contractors had no right to get paid because an…[Read more]