Forum Replies Created
Hi Elbows
i’m with Nigel and Don, NZ is a great place to start. Although even in NZ its getting hard to find properties that after a 80% loan will put money in your pocket at the end of each month. But its so much better than OZ. Sadly you could spend forever looking in Oz and not find a suitable deal.
regards westan
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Hi sharon
that sounds more right. In South Australia its been the law to have these wired smoke detectors, mine cost about $100 also, when i put them in 5 years ago. In Victoria you only need the $10 battery operated ones.
Regards westan
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Hi steve
My comments are slightly off the topic but here they are.
i “retired” in 2003 when i was 39 years old, thanks to the rise in the property markets in OZ and NZ. My retirement plan was to move to NZ for a year to enjoy the beautiful country and dabble in the property market, at the same time i wanted to use this time to work out what God wanted me to do with the next phase of my life.When you don’t work you need to fill your time in somehow. For me i’m helping with things at my local church and I ended up stating up a business that at some times is like a full time job and at others gives me the flexability to do as i please (i just returned from a 8 week family holiday to the USA). The great thing is i don’t have to do it. I could never imagine working for someone else again, in fact i’ve had dreams where i’ve had to (yuk).
I don’t like the idea of “retirement”, the concept of sitting around doing nothing is a complete waste of existence, surely we are on this planet for something more than to live a life of self luxury.
regards westan
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Hi geoff
it suprises me that NSW hasn’t had this law already, South Australia and Victorian have had it for ages, at least 5 years i would think. I have a stong impression its law in NZ also.
Its a wise law.
regards westan
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Hi Guys
my biggest mistake was not being fully focused on investing and putting a part of my finacial resource into renovating my own home. This was a time when the market was ripe for the picking and i should have been using every cent as investment dollars.
regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Very interesting,
it makes you realize how hard it will be for our younger generation (under 25’s) to partake in part of this nations wealth, (unless they inherit it). Given that a large part of people wealth is in Property i would assume that these people purchsed in at a time that real estae was a lot more affordable.
regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi Kerwyn
my first thoughts were this sounds like an urban Myth ?? Are you sure it happened to a client of your PM or someone she knows ???
What city did this happen in? i live in NZ (But i’ve been out of the country for 8 weeks), i’ve never heard of anyone having an insurance policy cancelled before. I’d like to find out if this is real, love to look into it more
regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi Cama
i think the best way to acheive what you want is to get properties that will not only put money in your pocket but go up over the long term.
Now can that be done ?
i don’t think the Ouyen property would achieve either of these goals over the next 5 years.
I purchased a lot of homes in Victoria and South Australia from 1997-2003, and then stopped and started selling. I wouldn’t be buying again to be honest, not yet anyway.
maybe you need to consider further afield, NZ can still offer way better investments than Australia. Once you are experienced as an investor i’d also consider the USA. I live in NZ at the moment and while i’m selling a few here there are still some deals around. Look at the NZ topic on this forum.
regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
hi cama
where do you live?
what is your goal in buying real estate
?by the way i think victoria got a bucket load of rain in the past 2 weeks (hopefully in ouyen also)
regards westan
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Hi Redwing
i liked this one just told my wife who also enjoyed it. Now i’d better find some Kiwi’s who enjoyed it just as much !!
regards westan (the aussie in NZ)
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi h
they are considered Capital costs.
regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi all
Chef you said
What would stop you from going over to NZ for 6 months or so, where you automatically become a NZ resident and then distributed to yourself as a NZ resident. You could do it this way. If its a small sum, its probably not worth doing as my Australian accountant said, however if its a large sum like 100k, then I would live their definitely, why not a beautiful country is it not??I moved to NZ in Dec 2003 to enjoy the country and to invest, but one thing my accountant here (in NZ) was very careful to establish is what country am i a tax resident of. According to him the fact that i was living in NZ for 6 months was not the only consideration. He asked me heaps of questions that he said the NZ tax office could ask in establishing my tax residency status. The fact that i was living in NZ was only part of it. He asked what was the situation of my home back in OZ , and many other questions. The fact that i had moved out and was clearly here for more than a short term holiday made him comfortable that i was a true NZ tax resident.
Just raising some issues that would be worth considering if someone wanted to go down the Move to NZ short term path.regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi all
steve did a great job helping many of our clients with finance in NZ last year, he comes highly recommended by many people.
regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi the aimbot
firstly i’m an investor and not a real estate agent.
if sales is a passion then selling real estate will be a lot of fun for you.But as an investor i don’t think that being an agent would add anything of real value to my investing skills or success. Most agents aren’t investors and are purely sales people, some forget this.
So i think if you want to sell real estate because you think you would enjoy it, then go for it , but if you think it will make you an investor you might be waisting your energy.
regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi nigel
i’m aware that a few people are using some form of NZ Trusts to buy properties, this maybe one way of keeping the money in NZ, i’m not sure as i haven’t needed to investigate them. One risk is you have to hand over control of your assett (money) to NZ based directors.
however like i said if the entity is an australian one then you will need to pay CGT.regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi macwa
in response to your question about he NZ market. I’ve been living in NZ for 18 months (moved over to make the most of the market and enjoy the country). Over the past 2 years i’ve bought about 25 properties in NZ for myself and about 100 for clients so i speak with a bit of experience.
The market has risen very strongly over the past 3 years especially the last 2. I feel its hard to see the market rising much more. So i urge you to dampen any expecation of quick money in NZ. However if you are prepared to take a long term view then NZ looks very attractive. I feel more so than Australia because of the higher returns available in NZ.
Personally i’ve sold about half my NZ portfolio in the past 12 months, but am not selling out completely, like i did in Australia over the past 2 years (well not quite completely, i have 4 properties left). The only reason i’m selling is to reinvest in New Markets i’m active in.
If you buy well, then NZ is a good long term investment. Just remember that with interest rates at their current levels then a 10% return isn’t cash positive, (but hey they are better than 5% in OZ).
In regards to birddogs, i see Minimogul is still finding some attractive deals. I’d love to help myself but i’m very committed on my USA bussiness at the moment.
regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi Guys
the best thing to do is to phone around some property managers and find out the real state of affairs regarding the rental market. Just because a property is renting at $75 per week doesn’t mean you would get that again, it maybe lower or higher.
Property managers will also be able to give you a general feel for rental demand and prices. Find out from them what is slow to rent and why.regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi all
bkpenta, i think you should do some figures on the Port Pirie property, from my limited knowledge of the place therentals would not make a $100,000 property cash positive. Also check out about the future of the old pasminco smelter there, and about asbestos risks.
from purely as cash flow situation i don’t think Port pirie will make you money tyherefore you will need to see capital growth to make money and this is unlikely in the near future i would think.
Cairns is a totally different situation. Expected population growth, tourism growth etc. Interesting about your comments regarding vacancies, In 2003 i found that units were slow to rent when i was investigating Cairns.regards westan
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Hi Cama
i used it live in stawell in the Wimmera (sort of Ouyen way). The whole are has had large population loss (except Horsham and Stawell). According to department of Infrastructure reports i read a few years ago, when i was buying property in Victoria (pre 2003), the expectation was that places like Ouyen and Hopetoun would continue to decline. A few years ago (1990’s) these $50-80K homes were selling for $20-35k but no one wanted them ???
Now is there anything that can reverse the population decline ? Well i think there certainly is. In this part of Victoria there are huge deposits of Mineral Sands. At areas like Douglas near Hamilton work to remove it has already begun. It may be that Ouyen will also benifit when work begins to extract the mineral sands nearby. The Mineral sands deposits are in the Billions of dollars so we are talking about a huge deposit. I haven’t been following what has been happening in this part of the world as i’ve been investing in NZ and now the USA, so check out everything i mentioned to see if things are still the same.
all the best
westanWe find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi liz
remember you will pay tax only on the actually profit the home makes for you.
If you buy through a C Corp , the idea would be to spend the profit so there is no tax payable. I’m not an accountant so check what i’m saying but if you use the profit for a trip to view the property then you will have no tax to pay.One other option is to use a Limited Liability Company (LLC)and not an C corp, it has flow through taxation which means that it will be the end recipient who pays the tax.
Its such a complicated are even the tax experts are learning all the time.
regards westan
We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
