Forum Replies Created
Hi
I agree KIS. One of our properties has a bare garden bed. I has had so since it was purchased a number of years ago. It has primarily like this because each group of tennants have not wished to garden and this garden is under the eaves where no water gets and very few weeds appear. We have decided that if we have tenants who wish to care for a garden we will purchase native plants but appart from that a very rare piece of maintenance is necessary
In summary it depends on you and your tenants in my opinion.
Tamara
David
People always think the grass is always greener on the other side but in my opinion both nz and oz have their benefits when it comes to investing in Property.
I guess when investing it all comes down to your financial goals. To me investing both in oz and nz will help us fulfil our financial goals.
Tamara[
]HI
Just another thought. You might want to think about the temperatures in the winter. Frosts..etc.
Tamara
Hi
Tauranga is known for its sunshine hours along with Nelson. Temperature wise I would defintely be sticking to the north of the North Island.
Tamara
Leigh
Try this web site to help you answer your question.
http://www.company-solutions.co.nz
NZ definately operates a trust structure but I am unsure as to how it specially operates.
Tamara
Slum Lord
I made some enqires last year and got feed back through ASB and mortgage brokers that said 20% down. Admittedly I have not followed through as of yet but I think that the right broker in New Zealand will be able to help you there.
Tamara
Hi
Further to Susies point about GST in NZ. You would only have to pay GST if you are registered. I think you need to get advise but from what I understand it is only worth registering for GST if you own a significant amount of real estate in NZ.
this site will help with this question (NZ version of ATO)
http://www.ird.govt.nzHowever your cashflow will be subject to tax as nz has a reciprocal arrangement with oz regarding tax.
On this site
http://www.propertyinvestor.co.nz
through the ESC link you find information regarding the tax arrangement.
I have posted information regarding brokeraging etc in nz in a previous post you might like to look up.
My person view is to go through a broker and by cashflow properties that way you are not at the whim of the changing currency.
I hope this helps
tamara
Essykay
My husband and I are in the same position. We have decided that it would be better for us to stay offshore and have looked into Buyers Agents and RE agents. We have made contact with a couple RE Agents who were very helpful last time we were in OZ and Buyers Agents also. I have also been networking with other people in we know who invest to see if we can solicit their support perhaps by completing an inspection for us.
I understand that it is not easy but we think we can make it work with good contacts back in oz
Tamara
Andrew
have you factored in the body corp fees and managements fees?
Tamara
Hi Adam
It is not something that I can answer directly except to say that New Zealand does not have FIRB. The laws as far as foriegn investment are a little more lax in New Zealand. I suggest you contact this web site and ask.
If they cant answer then I am sure they will be able to connect you with the correct government agency.
As promised I have also attached a couple of other web sites for people to look at when investing in NZ.
the Auckland market
http://www.hpc.co.nz/index.phpMortgage Broker there are plenty of others i have marked but this was a good place to start.
http://www.financialpictures.com/The below site has interesting articles including general market information but go to the ESC link and they have information about the oz/nz tax laws
http://www.propertyinvestor.co.nz/
Try any of the major RE companies in oz and they have branches in NZ
due dilligence Type in the district or city council area you are looking for and you should get a good result.
There are some land issues in NZ regarding Maori land claims. If you are investing in areas where land is still contested you need to be aware. This would be more important in smaller rural areas. I am not sure how you would do a search like this.
I have further web sites but I suggest you ask and I will post more as required.
Tamara
Leigh
NZ and oz have a reciprocal tax agreement. you will need to get some advise but the gist of it is you get taxed in nz and then declare you earnings and tax in oz and they tax accordingly. eg. the top income tax bracket in nz is 38%, in oz 48%, when you make your oz tax declaration then you will be taxed the extra 10% assuming you are in the high tax bracket. There is the option for trust structures etc
Financing works just like in oz except as an oversees investor you would need to provide a 20% deposit. I recommend a broker. I have a site that you might be interested as the guy is quite create in his approach to mortgage structures.
I would research up the areas carefully just like you would in oz. Yes there are some very cheap properties but keep your eye out for unemployment rates, what industry in the small rural areas etc.
I am only a novice but have one IP in nz, we were living there at the time it was purchased and are now looking in oz.
There is a lot more info. I will source some of the sites of interest and post them when i have a little more time.
tamara
The link to the sight i got my information from is
In this site you should be able to find the information regarding foreign companies if not they the Foreign Investment Review Board should be able to answer your question.
Tamara
HI InfoSquid
I to have looked into purchasing while being a non resident of Australia. As far as my research informs me the following people can purchase real estate in Australia…..Australian residents, New Zealand citerzens, Australian citerzens who are non citerzens and people resident with Australian residency. Other people wishing to purchase property in Australia are considered foriengers and can only purchase buildings and not land so it is appartments for them.
I got this information from a web site…I cant remember which one. I will post it when I can track it down.
I hope this helps
Tamara
I frequently read this forum and others. As yet feel that there is so much that I dont know that I am not in a position to comment. But this topic is raised frequently and I feel that people who read RK books read them with the view to finding a quick and simple answer to financial freedom. I personally, as many above have, believe that without this book I would be still trying to decide how to invest the tax free dollars we earn and in fact would not even have a plan to get started down our pathway.
I feel that the RK books take readers to a critical level of thinking which challenges them to consider where they financially are and where they want to be. To achieve this level of thinking and be successful you then need to go and educate yourself further by asking questions, talking with others and having a go.
I feel that if RK books have done this then they have achieved what they set out to do.
All those who have taken the RK books and acted on them have entered on their journey of critical thinking and as a result achieved their financal goals well done. I am just starting.
Tamara
Thanks Ben
I had a look at the site and has some interesting info even for expat investors.
What do people think of buyers agents? I have a couple of interviews lined up when we take a break in Brisbane early March. We are planing do do some property research as well as take a break from life on the equator.
EP I am sure that the Sultan would say hello but he has an embarrassing problem with his second wife and in 3months and 10days will have divorsed her….
Hi
To answer a couple of the questions.
We are flexible about where we will invest. But initially we have decided in Brisbane. This is only because my husband is a pilot and this is one of the two Australian destinations his airline flies into. As I said this is only a starting point.
We have decided that we want to do cashflow positive investments some being buy and hold and a few for captital gain but we feel we need to know the market better than we do to make this step.
We have a plan to be financially free in 10 years, quicker if possible. Until we get to this stage we will be unable to come back as the employment opportunities are limited for pilots. We have our young children to think about and in 10 years our eldest will be a teenager and educational it will be time for us to be back.
Finally Brunei is a developing country with the very rich, the Royal family, and the rest. It has beautiful jungle and coastline but they have a problem with litter which is ruining their environment. I guess that it is a phase that all developing nations go through. It is a great place to bring up young children.
I hope that helps
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