Forum Replies Created
WOW muppett
that is good news, as you know i’ve been investing there for a while now and that sounds great for my 4 IP’s there. Wairoas been my little secret for a while, no more by the sounds of it.
On the downside i’ve been trying to get a few of our clients into properties there (Congrats for the ones who did), the days of getting great deals might close there too.
Hopefully we will get some capital gains in the future.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Gerard
i think these questions are better answered by an accountant. Unfortunatly the ones i know want to be paid for advice, if you want some contacts please ask.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi karina
i’ve bought heaps of houses in housing commission areas (probably about 20 in the past 7 years), but your question is really hard to answer as some areas are fine others are very bad. local property managers will give you great advice.
i make it my policy not to buy the worst street in a town/city. Often they are good solid homes that are very low maintenance.
As far as capital growth goes, these types of homes have appreciated incredibly over the past 5 years, they are so called low capital growth areas but it is a little know fact that they have outperformed the so called high growth areas. But what of the future ????
all the best
westanI live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi sonya
i looked at Mount Gambier a few years ago and i thought the Housing trust areas were very average, and the property managers where reluctant to manage in those areas. I should say that i don’t mind housing trust areas and at that time owned 4 in Elizabeth. I decided not to buy in MT gambier and ended up buying 2 house in Millicent (which i’ve since sold for a nice profit). So be careful where you buy in Mount Gambier.
i’ts a great city and i love the place for a holiday.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi tonka
i used to own 4 properties in Elizabeth, i have sold 3 and have one left.
I’m concerned about the property manager i used to use one who collected the rent , he was useless i hope it isn’t the same guy, He cost me because of his poor performance. i’m happy to tell you who he is if you want to know.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi shawn
Invercargill and dunedin ?
firstly Dunedin is Hot and you may struggle to get cash positive but i really like the city and its potential. the Uni, etc make it a great place.
Invercargill you need to be careful of, as the city just recently started to experience a few vacant homes, make sure the home has good heating and it should be alright. I wrote up a 3 page report on Invercargill about the positives and negatives, email me if you want it.
(i own 2 properties in Dunedin and 2 in Invercargill)
regards westanI live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Chris
the business sunday show on nine sunday am did a story on darwin propert a week ago.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Richmond
i don’t expect to be able to buy properties for “cash flow” perhaps ever in Australia again. It would take either interest rates to be 3%, rents to be double or the market to fall at least 30%, or a combination of these events. I like to make at least 12% return and i don’t expect to see that again. Therefore i’d be buying for capital growth (if i was to buy) and i can’t see any capital grwoth for a long time (years). The only property i’ll be buying is a new home for myself to live in when i decide to come back to Oz from New Zealand. I might move to the Geelong area perhaps the Belleraine Peninsular.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Cremin
the tax laws relating to Capital gains tax means that you must own the property for 12 months if you want to claim 50% tax free (quite nice actually), if you own it for less than that time you pay capital gains on the full amount at the tax rate you will be in . For instance if you make 100k capital gains in one year and you are in the top bracket then you get taxed on the full 100k at the top rate. If however you have owned the property for 12 months then you get 1/2 of it (50K) Tax free.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi all
a number of people have been asking me if Nikki ever contacted me for the help i offered. I think people are genuinely concerned for Nikki and wanted to know if she was a genuine person.
I am pleased to report that Nikki never did, i hope that means that Nikki’s story is not true.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi alison and all
i’m old enough to remember New Zealand having good runners , for instance Walker (yes he was called walker but he was a runner, these NZers do some strange things), and it wasn’t that long ago NZ had a swimmer Daniel Louder (something like that) who used to beat us aussies.
Lots of people i meet in NZ think that they have lost the drive to Win, schools only teach them participation not winning they say. Often they say “look at Steve Waugh” for instance “he was never happy with competing he loved to win”. “We just don’t have that in NZ anymore.”
Interesting what do you NZers think ?
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi mslodyczka
these types of deals Steve was buying in 1999 unfortunatly those prices have long passed. You will not find home in Victoria showing these returns in 2004.
sorry about that info for you.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Mike
just some further comments on Rotorua.
Be careful with areas like Fordlands you may struggle to get someone to manage it. Rotorua is a middle sized city of about 50,000 and while it is the North Islands Number One Tourist Center is is very working class. You should be able to find properties that are returning over 10%. As far as capital growth prospects its hard to say, i see the NZ market going flat for a while especially during this time of interest rate rises.
But the most important thing is what Minisaid and get an independant property manager to check out the house before you go unconditional on the offer.
As far as property managers i like Richard Evans at Rotorua Rentals [email protected] Ph 0011 64 7 349 3429. Richards was the owner of Harcourts but sold out a while ago and started the property management Business. He knows Rotorua.
Oh one last thing about the sulphur smell, the locals actually get used to it, i must be unusual because i like the smell, it makes me think “I’m in Rotorua” which i love for a holiday it really is a great area.
Regards westanI live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi marc
you said
Yet I know from what you wrote that you have, like the majority do, an array of values that have been planted in your subconscious by… lets call it the environment, that are not serving you. Your comments about KP and other stereotypes give you away.No i didn’t, all i said was i challenged you who said it was fine for people to blow 30 Million in One nite, i offered a different view that the money could have been used for so much good. i could never spend that money like that even if i was worth 8 Billion.
Of course since you are in business and not an employee dreaming of a social revolution, you must intellectualise and bend some of the mass misconceptions or you couldn’t live with yourself succeeding.actually i retired at 39 and now have a number of business’ I disagree with your comments
I of course don not know in which way you have qualified the idea that “rich are evil”,Once again i never said this. You are having a conversation with me that you have had with many other people i am not them.
Sort like a million a year is OK one billion is obscene, idea.Marc what i’m on about is greed is BAD, if you have $10,000 and are greed it is wrong, if you have $1 million and are greedy that is wrong if you have $50 Billion and are greedy that is wrong. See the figures don’t matter.
Don’t think for a moment that I am telling you off.No i don’t think that i just hear someone who is very passionate about something that is a new idea to them. Let me read this book then i’ll engage you about the ideas.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi all
Hi Hoobo to answer your question, i should start by saying i haven’t structured my own investments as best i could, there are so many little issues and often they relate as much to the Australian tax system even more than the NZ one.
I’ve purchased most of mine using my Australian family trust. But when i started buying in NZ i was living in OZ, now i live in NZ. if i sell some properties over here i get the Capital gain exemption in NZ but not in OZ. To add to that if i now i buy using a NZ based family trust but move back to OZ the Australian tax office will then view the trust as an australian trust as the trustees are now living in OZ. So its very confussing. To add to the complication i want to do a lot of buy and fix up and sell (trading), but this will effect my capital gains exemption status so i will set up a company to do this.
Sorry all i’ve done is confussed you even more?
So it comes down to your own situation, where you live, your own family situation, your own tax situation, where will you be in the living in future, what is the purpose of buying (buy and hold long term or buy and sell). If my purpose was to buy and hold forever, then i would be happy with using my existing OZ family trust structure.regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Marc
it makes it very difficult to have a discussion with you as you constantly tell me what i thinking. No matter what i write you have this preconceived idea that i think this way or that way. You need to learn to listen to others and understand their point of view if you want to engage people, Let me explain
you sayDon’t hold back because of an ill conceived notion that it is immoral to be prosperouseven after i have said
there is nothing wrong with having large, huge amounts of money. I actually agree with you.It is quite annoying to be told that i think in a particular way , you have know idea what i think. You aren’t even listening to what i’m saying, your just taking the opportunity to go off onto your own tangent.
After all populist thinking stems from populist policies, like our Robin Hood Tax system.Come on Now , Marc i don’t think you really have any idea what your talking about. Haven’t you realised that the tax system is designed to allow people of high net wealth to pay lower taxes. Its the poor suckers earning a salary who are paying the largest proportion of their income in tax. Some salary earners are paying over 40 cents in the dollar, while people like myself who lives of my investments can get away legally by paying next to nothing. For instance Half of all capital gains profits are tax exempt. Gee i’ve never heard of it as a Robin hood tax system.
cheers westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi all
sorry off the topic a bit, i want to take up Yorkers constant promotion of rosebery as a buy, on the figure i see it the other way its a SELL.
this is why
say you buy a cheap house for $60,000 which rents for $90pw, there are heaps of these deals in Rosebery.
say you put in 20% and finance 80% which is 48K
Interest on the loan at 7% is 3,360
rates (high in tas) management insurance 2,000
But you get 4,500 income if let at 52 weeks a year
That means the home will be costing you $860 a year, plus any repair and maintence. If you want a Negative Geared property don’t buy west coast Tas.
So Kay is right the figure don’t stack up
regards westanI live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Mike
as far as structures go
everyones situation is different so it is hard to make some generalizations what is best.
a lot of people buy in there own name
a lot of people buy using an Austraian Trust
a lot of people set up a NZ trustsorry i can’t be more specific,
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Kristine
i suppose the biggest thing was taking the risk.
when i started investing in 1997 no one else was doing it and i wasn’t always positive it would work out, it just seemed to make sense that if i bought enough cash positive homes it would put a lot of money in my pocket.
For me i was “lucky” that the Market has risen so much. I should add that i wouldn’t be taking this same risk in 2004.In answer to the other questions
shares- i’ve been buying and selling shares for years but never prepared to leverage too high with shares as the risks associated with that practice.As far as PPOR- my networth would be double todays but i got distracted and renovated my own home in the late 1990’s, if i had of plowed that money into investments i’d be a lot further ahead. Sometimes you are better off financially renting. But hey i’m still married (if i didn’t put money into the PPOR i may not[biggrin]) and have 5 children so sometime a family home is important.
As far as debt goes yes i was always had large Debts (but manageable).
regards westanI live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi marc
thanks for the time to reply
But
You have missed the point, there is nothing wrong with having large, huge amounts of money. I actually agree with you.
However
There is something very wrong when people use that money for no other purpose than to make there own existence one of luxury while there are so many in need around them.
You sign off “may God make you prosper” sure God wants to bless people and finance is an important aspest of life.
However when you look at the teachings of the Bible in its completeness you will agree that the idea of “Gods Blessing” is not for ourself alone but to be used for the benifit of others.Thats why it is obscene when people are happy to throw away $10 Million on a black jack table. Surely these people Know what good the money can do, It’s all about the responsibility of wealth.
It is just as obscene when a parent gambles away the families weekly food money.Marc maybe some of these people who you seem to view as untouchable because they have amassed huge wealth aren’t really deserving the praise you feel for them ???
regards westanI live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
