Surfermark, that sounds a good book. I will look into getting it.

Regarding LAQCs, I was told they are no good for non-residents of NZ?

Shar

Woops, half way through a reply and it disappeared? Will start again.

I don’t have a problem paying tax in Oz on monies received from NZ. I would expect this to be included in my normal tax return as foreign income. However, what I’m trying to avoid is having to lodge a separate return here in OZ for the trust and then having to pay my…[Read more]

If the builder is renting it back, make sure their business is OK as if they go broke, the lease back isn’t worth anything!

Yes Terry, the solicitor is a trustee along with myself and my husband. He seems fine with that. He also has our Power of Attorney for signing documents dealing with property as we are out of the country. I can’t see it being a problem for him though as the properties more than cover the loans. The appointor is myself and my husband combined.

I…[Read more]

Thanks for your help guys.

I might put this question into the Help section to see if I can get some more answers.

Hi Trish

I am also keen on Christchurch and would love the same info as Sharon has asked.

Shar

For NZ I use realenz.co.nz

Shar

Hi Redhaven

I do bookkeeping for some developers – if you PM me I can put you in touch with them if you are in the right area.

I don’t know alot about the developing side but have learned enough to know it is a helluva lot of work and you need a lot of expertise to try and do it yourself!

Shary

Is the house in a display village? How secure is the builder as a tenant? If the house is in a display village and the builder goes broke, I believe you can’t lease it to a residential tenant until the village life comes to an end (they have a limited life – Council can tell you what it is).

These can be a good buy if the builder needs the…[Read more]

Hi Pgrim

I am an Australian resident with 1 IP in NZ and currently purchasing a 2nd one.

Can’t help you with the tax rate but you could check out http://www.ird.govt.nz. The Inland Revenue Department is the NZ equivalent of the tax dept here.

Yes you will need to put in a tax return in NZ so will be best to use an accountant there to do it for you.…[Read more]

Hi Jan-Marie

I can relate very well to your problem as also have a granny flat we rent out. And yes, the smoke does seem to filter upstairs! We have always advertised as “non-smoker” although local newspapers insist on putting “non-smoker preferred”. We have had many tenants over the years and one or two who said they were non-smokers turned…[Read more]

http://www.stats.govt.nz
is also good for maps and statistics on an area.

Sharyn

Baulkham Hills
(north west Sydney)

Hi Lazyboy

I’m originally from New Plymouth many years ago – actually grew up in Inglewood. How are property prices in Inglewood these days? Any good for investing? Lovely little town and such a short commute to New Plymouth.

Shar

Hi Marissa

I see you have had lots of great replies to your problem and hopefully have done something by now.

However, one question I would like to ask before you rush into getting rid of the tenant, “is the rent he is paying a good rent in the current market and are there lots of properties like yours looking for tenants at the moment?” If…[Read more]

Having worked in Real Estate and in particular in Property Management, I can tell you there are some great PMs out there, but there are also some extremely bad ones too.

Unfortunately the commissions are low so alot of agents go for volume to make their money but then are not able to service the properties & tenants as well as you would hope as…[Read more]

Hi Ziz

The reason I mentioned NSW is that I live and work here and evidentally want to buy IPs here.

I originally thought I ought to have the right structure set up here, however, after reading all above, I realise I can probably forget about anything here and just look at whether I need to set up a trust structure in NZ whilst buying IPs…[Read more]

Hi Pete

I too am looking for an accountant in Sydney with this knowledge. I will put a new topic on the Forum to ask the question.

Good luck in NZ. You will find it abit of a culture shock moving from Sydney but just enjoy the slow pace and you will learn to love it!

Shar

Thanks Guys

I will keep investigating. I definitely want to buy more than one property and so want to get things right to begin with.

Does anyone know a “property savvy” accountant in Sydney? (I’m in the North West of Sydney). I don’t think my accountant would be much help!!

Re the land tax threshold, I thought the new laws in NSW mean you…[Read more]

Great story! However, after working in property management for alittle while now, I am not at all surprised. The incompetency in some PM departments is unbelievable and quite scarey.

Agencies don’t earn much on PM commissions and therefore alot just concentrate on volume to make money and frankly it can be very difficult to maintain a very…[Read more]

I am also going down this path. I believe from the ANZ Bank that you also need a solicitor in NZ to handle the paperwork.

Does anyone know of a good solicitor in NZ? Preferably around Wellington?

Shar