Hi everyone
I moved from New Zealand a year ago to work construction in WA. The money is excellent. I have a small humble home back in NZ mortgaged with a top tier bank that I rent out through an agent. After his 6% fee, insurance and rates the property costs me $85 a week. It is on a large block with subdivide opportunity.
This is where I need help. I am passionate about getting started in property investing and with a good income to help kick start it I need advice and professional help to set up and implement a good strategy. Initial thoughts are to set up a trust and company to manage the trust. Then put the home in nz into the trusts hands. Refinance with the intention to subdivide. All while looking for a positive cashflow investment property to purchase with 20% deposit. I have no bills or outgoings weekly as I live and work in camp. And my annual net income is 150k plus. I’ll be in perth in a months time so am happy to meet face to face with a broker or if you are interstate I will consider coming to you. I also need a good accountant whom can do my tax for the last financial year. Thanks
JamesHi James,
Keen to hear what others have to say as your story sounds smiler to me and my partners!
We just used FAJ accountants in Freemantle which were good, we just have one property but I think when we purchase more we will need someone more experienced in property and investments. Chan & Naylor was suggested to me by someone they are a little more expensive but deal with trusts a lot and have more experience in property investments. They also do financial strategic planning and feel like they are more geared to the investor.
What kind of construction do you do? Are you experienced building houses? :)If you are considering moving the residence into a trust then you will need legal advice – probably by a NZ lawyer or a lawyer across both jurisdictions. You should also consider the tax aspects as well as the asset protection and estate planning aspects. THe loan will need to be discharged and applied for by the trustee, not just a refinance/
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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