Hi
I believe you can purchase residential property in NZ no problem but commercial property you have to own a company. This is very easy to by simply regsitering a business there.
I hope this helps.
Cheers
Martinp
Hi Martin where did you hear that about commercial property and not being able to buy in own name?????
CastleDreamer
yeah i’ve never heard that either.
RE: “I believe you can purchase residential property in NZ no problem but commercial property you have to own a company.”
My understanding is commercial property can be acquired and owned by an individual or registered entity in New Zealand, Australia and many other countries.
In terms of a foreign buyer seeking to acquire commercial or industrial property in New Zealand, the law states:
“Where the purchaser is an overseas person or organisation“
You will likely find the trend toward acquiring commercial property under a registered entity reflects tax and liability issues, rather than a legal requisite.
— Michael
Okay time for a Kiwi to stick her nose in….. visit http://www.bevstewart.co.nz Bev and her son (my partner) Logan are based in Dunedin and the return rates here at the moment are quite good.
On your website a_workaholic – $84,500, @ $150 per week (first one on “investors” section..).
After running Steves 11 second rule the property is basically a negativly geared property… In fact none of them meet the 11 second rule.
So please stop advertising the site, as simply it dosen’t come up to scratch for what most investors on this forum want (cf+ deals). If you have something meaningful to add please do so (this topic is on getting finance in NZ and you have provided no information whatsoever). All I can see is blatant advertising, which is not helpful.
Also please don’t spam my PM. Thankyou.
Rgds.
Lucifer_auhang on a minute Lu, I was about to write I don’t mind a bit of RE agents poking nose in and possibly becoming part of the forum. Dunedin is ‘going off’ in capital gains and has huge rental demand, the latest thing i read is that Otago University has so many more students than expected that they are wondering where they are going to put them all.
So don’t write those deals off straight away, do your homework. Having said that I do like yields more than ten percent personally but then again I wouldn’t mind getting a property in Dunedin.Originally posted by MiniMogul:hang on a minute Lu, I was about to write I don’t mind a bit of RE agents poking nose in and possibly becoming part of the forum. Dunedin is ‘going off’ in capital gains and has huge rental demand, the latest thing i read is that Otago University has so many more students than expected that they are wondering where they are going to put them all.
So don’t write those deals off straight away, do your homework. Having said that I do like yields more than ten percent personally but then again I wouldn’t mind getting a property in Dunedin.Mini – if you’re not afraid of rolling up your sleeves and doing a little renovating, there are still a few deals which can become 10%+ yields in Dunedin. (Mainly in South Dunedin).
The problem is, you’d more than likely need to be on the ground for at least 2 weeks to project manage the deals.You’re also able to rent by the room, or rent places with furnature to students, which can increase your yields.
But if you do plan on renting to students, location can be very important. “Scarfies” would prefer to walk to the University as parking can be a pain, and ‘walking distance’ tends not to be very far – particularly when it gets very chilly in winter (snowfalls etc).
Brent
Brent Hodgson
PropertyInvesting.com
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> “Mini – if you’re not afraid
Heya Brent!‘Afraid’ does not compute….
what is that?>of rolling up your sleeves and doing a little
> renovating,I did more reno-ing in 3 months last year (two properties) than most people do in a lifetime. I do understand the concept….
>there are still a few deals which can become 10%+ yields in
> Dunedin. (Mainly in South Dunedin).Indeed, and I guess it’s all comparitive – you balance out the headache factor of a reno (even if that’s only time spent organising from afar) and the ‘probably have to go there at some point’ time and expense factor with the entry price, with the potential capital gains you MAY or may not get (who really knows how much or how fast?) and the rental yield coupled with an encyclopaedic knowledge of the market. (knowing how that deal compares to other deals in other cities) and the economy (the factors that really drive CG)…..
so my conclusion….
I am mildly into Dunedin and not at all against it – yes, I love the city and I ‘wouldn’t mind’ eventually maybe getting a property there. no stronger than that. I am also well aware of the other several strategies you can use to make a property ‘become’ cashflow +ve…..and I don’t mean ‘borrow less’, ha ha.But as for my personal choices, IF I were hoping for capital gains and was OK with only ten percent yields, I might choose a city which was (for example) warmer, closer to (for example) Auckland, and on the island where 3/4 of the population lives. and I would probably choose a town where population increase is not mainly driven by an increase in the number of students. (although I realise that can mean strong rental demand.)
Besides, the mob has descended on Dunedin, ditto Invercargill, forcing prices up. and i like to think I’m a bit ahead…I think Dunedin is a relatively safe bet though, but then again so is a term deposit….
10 percent, I dunno, just doesn’t really get me that excited. if i do the numbers – your borrowing is 7 percent odd and rates, insurance, vacancy and maintenance eat up the rest, then you are breaking even just, have no buffer if something goes wrong, and if prices DON”T rise lots in the next few years then you may as well not have bothered buying.
I guess I have been spoilt because I have had CG of 60 percent p.a. on my little properties on top of 20 percent yields (10 percent after holding costs) and so my bottom line of what’s a good deal is a lot higher than most people’s. And this was buying in places where people said I was crazy. A bit like Logan Queensland last year. But people that bought there then would be laughing now. i.e. vindication that you really have to be ahead of the mob to get the superb results.
> The problem is, you’d more than likely need to be on the ground for at least 2
> weeks to project manage the deals.”Try four days,,,,,,,,,,,That’s all the time I had so that’s all the time I spent on the ground. Or, applying the ‘work smarter not harder’ rule, you employ a project manager which is how come my second property I ‘renovated’ last year I never actualy went to – still haven’t stepped inside, though the pictures look great…
and the tenants love it…
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