PropertyInvesting.com | CastleDreamer | Activity

CastleDreamer replied to the topic is demand slowing in NZ ? in the forum No Subject

Mon, 12 Dec 2005 23:21:05 +0000

News article taken from Property talk site this morning:
“Housing market still strong
New figures from the government’s valuation agency Quotable Value show the housing market is still strong with November recording the highest growth rate this year.

QVâ€™s November property statistics indicate that residential property values increased 15 per…[Read more]

CastleDreamer replied to the topic NZ interest rates-news story in the forum No Subject

Thu, 10 Nov 2005 02:57:56 +0000

thanks Westan,
there has been an amazing amount of discussion re interest rates. i know that i for one am considering fixing up a few more of my NZ loans, probably for a year or two at most. I personally dont like to fix for five years or more. I dont have a crystal ball, and dont want to try to predict that far ahead as to what the markets…[Read more]

CastleDreamer replied to the topic Cities visiting in the forum Overseas Deals

Thu, 10 Nov 2005 02:55:11 +0000

Interesting thread guys, thanks for bringing it back in focus. I dont know if Nigel and Westan have met ever in the flesh, but knowing Westan and his family for the past couple of years, I am happy to vouch for his good intent and actions. I spent a week in the US with Westan and some others last month. Cowboy Tour? Not at all. Certainly we…[Read more]

CastleDreamer replied to the topic buying new zealand in the forum Overseas Deals

Thu, 10 Nov 2005 02:25:26 +0000

Well, given that i love NZ so much i moved there – and to Christchurch, its been an interesting last few months looking at the markets and what has been going on.
christchurch continues to present opportunities – but i am seeing these as renovation opportunities – which are much harder to manage and do from a distance. I am not so keenly buying…[Read more]

CastleDreamer replied to the topic Depreciation which country in the forum Overseas Deals

Mon, 30 May 2005 07:59:08 +0000

I would add that there are a couple of qualified accountants here on the forum who have NZ experience, and would be good people to get taxation advice and structuring advice from. Read lots of books and ask lots of questions, but at the end of the day, make sure that you use the right people to gain advice from – and its worth paying to get that…[Read more]

CastleDreamer replied to the topic Depreciation which country in the forum Overseas Deals

Mon, 30 May 2005 07:58:49 +0000

CastleDreamer replied to the topic if only in the forum Overseas Deals

Fri, 20 May 2005 04:06:16 +0000

Hi Robert
the depreciation of 4% is based on the amount you paid for the house rather than the replacement construction cost. For example:
if you buy a house for 50,000 and the valuer determines the land to be worth 5K, and the chattels to be worth 2K, then that leaves you with 43K of house. Now it may be that the house would cost 80K to…[Read more]

CastleDreamer replied to the topic Depreciation which country in the forum Overseas Deals

Fri, 20 May 2005 03:55:18 +0000

Hi there,
I have owned NZ property in both structures.

“To answer your qustion if you buy in an Australian structure your not in the New Zealand tax structure your in ours.”
Actually you would be in both systems then. The Australian Trust that owned property in NZ requires a full NZ tax return complying with NZ Tax Laws for a foreign trust.…[Read more]

CastleDreamer replied to the topic The federal budget in the forum No Subject

Fri, 20 May 2005 03:46:18 +0000

nkibel,
why would you say that if you want to negative gear a property stick to Australia?
it is possible to bring some of the losses home to Aus from a negative geared NZ property (the loss incurred if interest payments exceed income).
If a property in NZ is going to have a good likelihood of capital growth but was going to be negatively geared,…[Read more]

CastleDreamer replied to the topic buying properties with available equity in the forum No Subject

Sat, 14 May 2005 07:18:24 +0000

Hi Mortgage Advisor…
the bank will do its lending to you on the lower of the two figures as we know. Unless you are a resident investor (therefore leaving us Aussies out of it) you will only get an 80% lend max (generalisation here as I have heard rumours that some banks will now consider 90% lends to Aussies – but applications are underway…[Read more]

CastleDreamer replied to the topic buying properties with available equity in the forum No Subject

Sat, 14 May 2005 05:50:50 +0000

hi there,
some banks in NZ will allow you to immediately refinance after settlement to the allowed LVR against the registered valuation.
for example
block of flats: contract of 175K, valuation of 210K, bank will lend and settle on 175K figures. bank will then refinance later on the 210K figure. the time between settlement and refinance will…[Read more]

CastleDreamer replied to the topic NZ Property Investment Book in the forum No Subject

Sat, 14 May 2005 05:26:41 +0000

Hi all,
Kiwiproperty has a new book out. If you are interested you will need to pm them directly.
Advertising in the text is not in the spirit of this forum. Kiwiproperty is more than welcome to post threads and answers that contribute to the forum, and put their web address in the tag line.

CastleDreamer
NZ Investor
http://www.nzpropertytogo.com

CastleDreamer replied to the topic what do i do ? in the forum Help Needed!

Tue, 10 May 2005 07:14:39 +0000

If you sell today at least you know the market. Do you have a crystal ball for reading the future?
If you are prepared to bet that 12months time will bring better circumstances then by all means wait and see, but at least take a position in the market.

CastleDreamer
NZ Investor
http://www.nzpropertytogo.com

CastleDreamer replied to the topic getting around NZ in the forum Overseas Deals

Tue, 03 May 2005 09:18:58 +0000

Our pleasure to help out with any thoughts that might be useful!!

CastleDreamer
NZ Investor
http://www.nzpropertytogo.com

CastleDreamer replied to the topic Who's offering the best deal at the moment? in the forum Overseas Deals

Sun, 01 May 2005 04:38:17 +0000

Hi Donna!!
Nice to see you outed yourself!!
thanks for the finance info tip.
Cheers

CastleDreamer
NZ Investor
http://www.nzpropertytogo.com

CastleDreamer replied to the topic getting around NZ in the forum Overseas Deals

Mon, 18 Apr 2005 22:38:37 +0000

Hi Richmum
I’ve been driving up and down the north island and all over parts of the south for a year or more now, and I can only agree with Westan – get a hire car.
I add one more thought – get a decent hire car with at least a 1.8 litre engine and the ability to handle the hills.
I have driven 1.6l pulsars, subarus, corollas, and when i swapped…[Read more]

CastleDreamer replied to the topic Making offers in NZ in the forum Overseas Deals

Mon, 18 Apr 2005 22:30:55 +0000

Hi Aptam,
you aren’t required to have insurance prior to settlement in NZ for your property. But to make the seller more comfortable with my asking for access to rip stuff up and paint and what not, i have offered to cover the insurance cost for that period. If the vendor is happy with an early access clause for refurbishment and doesn’t baulk…[Read more]

CastleDreamer replied to the topic kiwi adventure 2 in the forum No Subject

Mon, 18 Apr 2005 22:25:35 +0000

Hi to all who have posted here.
after a general read through the thread, i can say that I am really excited for the opportunities that the KA2ers will have in New Zealand in July.
To clarify that though – I don’t necessarily refer to the huge buying opportunities that may be around – its a very different market to when many of us started back in…[Read more]

CastleDreamer replied to the topic What's the typical LVR in N.Z? in the forum No Subject

Mon, 18 Apr 2005 22:03:58 +0000

aptam hi.
banks consider more than two titles on one property a greater risk sometimes because it is more ‘commercial’ rather than residential – and I am told by a couple of bankers that that means they are saleable to a smaller market – ….. i have had 80% lends with three flats, but never with four or more, despite chasing around to try and…[Read more]

CastleDreamer replied to the topic Loans in the forum No Subject

Sat, 02 Apr 2005 13:10:26 +0000

another reason to consider why an investor would take finance in the country of purchase (NZ) is the lessening of exposure to currency fluctuations.
If the lending is in the same currency as the property being purchased then a move in AUD/NZD relationship has less impact. By taking only the 20% deposit plus costs from Australia you only expose…[Read more]

CastleDreamer replied to the topic Accessing Equity in NZ property in the forum No Subject

Sat, 02 Apr 2005 13:03:10 +0000

Hi Alexmmc

Banks in NZ do allow you to take out ‘top up’ loans or similar to access the equity in your NZ investments.
I just did this with two properties – and only one week after settling them at finance provided on contract price, i took out a top up loan to access the extra equity in them at valuation figures.
No different to here in…[Read more]

CastleDreamer replied to the topic Purchasing In Current Climate for NZ in the forum No Subject

Sat, 02 Apr 2005 12:59:02 +0000

I am with Del and Westan on this one – there are better deals out there!

CastleDreamer
NZ Investor and Property Spotter

CastleDreamer replied to the topic NZ investing in the forum Overseas Deals

Sat, 02 Apr 2005 12:48:20 +0000

Masteraccountants is a member of this forum… NZ Accountant based in Auckland.
does some work for several forum members.
Cheers
CD

CastleDreamer
NZ Investor and Property Spotter

CastleDreamer replied to the topic Making offers in NZ in the forum Overseas Deals

Sat, 02 Apr 2005 12:43:21 +0000

Hi jcls79

there is no real ‘norm’ for how long a contract will be from signing to settlement. you need sufficient time to investigate the deal (your due diligence) and the clauses to allow you to do that, then you go unconditional. how long from unconditional to settlement can depend on as many things as it does here – does the vendor need…[Read more]

CastleDreamer replied to the topic What are the costs of doing business in NZ? in the forum No Subject

Sat, 02 Apr 2005 12:38:46 +0000

HI direct,
a search will cover most of this information but a basic summary is as follows;
1. no capital gains tax in certain cases in NZ, but may end up paying it here in Australia on your foreing (NZ) sourced income.
2. no stamp duties
3. conveyancing around 500-1200 bucks
4. building inspections around 150-450 bucks
5. you pay the valuer…[Read more]

CastleDreamer replied to the topic NZ insurance info needed. in the forum No Subject

Sat, 12 Mar 2005 00:19:13 +0000

Hi Kerwyn
you can try the insurance quote offered by your financier as one possibility.

the other is to use an insurance broker such as the one I use: Wanganui Insurance Brokers – they generally use VeroInsurance which has a landlord component.

just a couple more options to play with.

Cheers

CastleDreamer
NZ Investor and Property Spotter

CastleDreamer replied to the topic Invercargill in the forum Overseas Deals

Fri, 11 Mar 2005 23:55:33 +0000

Hi Turboz!!
I have been using Bob at the Professionals since I purchased in Invercargill. I have also heard good things about Harcourts as well, and deal with an agent there too. Sorry for delay in replyin!!!

CastleDreamer
NZ Investor and Property Spotter

CastleDreamer replied to the topic Hotspots in NZ?? in the forum Overseas Deals

Mon, 07 Mar 2005 10:04:12 +0000

Hi Sen,
welcome to the forum.
there is a wealth of information available using the search function on this board – many people dont like to give away their hard earned knowledge by simply telling others where to follow to buy!!! but you can find some good info if you have a search around.
Cheers
CD

CastleDreamer
NZ Investor and Property Spotter

CastleDreamer replied to the topic Rental Appraisals in the forum Overseas Deals

Sun, 06 Mar 2005 08:39:57 +0000

Hi Sparticus10,
How does the independent rental manager get in? In my contracts I put an access clause that requires the vendor to agree to me letting my agents through the property. that way it is all agreed up front.

Cheers
CD

CastleDreamer
NZ Investor and Property Spotter

CastleDreamer replied to the topic Tokoroa in the forum Overseas Deals

Sun, 06 Mar 2005 08:36:35 +0000

Hi Mini and all,
yep, several lenders I either use or know of are now offering normal lending criteria in Tok – 80% same as anywhere else.
I have been getting 80% lend in Tok since April last year….. its only opinion one way or the other whether Tok is a good or bad place to invest. I have done very well there thankyou!!

Hi Muppet, good to…[Read more]

CastleDreamer replied to the topic How would you proceed? in the forum Overseas Deals

Wed, 02 Mar 2005 01:20:57 +0000

Hi Nobleone,
the second LOC option is available with my anz lender. no cross col, no breaking the loan figures….
Cheers

CastleDreamer
NZ Investor and Property Spotter

CastleDreamer replied to the topic How would you proceed? in the forum Overseas Deals

Sat, 26 Feb 2005 22:52:19 +0000

Hi Nobleone,
there are few options you could discuss with your financier.
breaking a fixed loan should not incur any charges if the current market interest rate is higher than you fixed at – the bank will be happy to break your loan because they can lend the money out to someone else at the higher rate!
refinancing does not need to alter the…[Read more]

CastleDreamer replied to the topic Unit investments in NZ in the forum Overseas Deals

Wed, 23 Feb 2005 22:36:41 +0000

Hi Gamerz,
technically there is stamp duty in NZ (at least it is provided for under their legislation or whatever). It is simply that the government has set it at 0%!!! so its the best stamp duty you will ever pay!!!
Cheers
CD

CastleDreamer
NZ Investor and Property Spotter

CastleDreamer replied to the topic How To Talk The Talk in the forum Overseas Deals

Sat, 19 Feb 2005 04:30:01 +0000

HI Brisbane 04.
Thanks for the light hearted look at the Kiwi accent!!! I actually find it really funny now when I go to NZ, because I am the one with the Aussie Accent that gets a caning for the way I sound!! – and a lot of my family are Kiwis as well! although I am Aussie through and through!!
Cheers
Cd

CastleDreamer
NZ Investor and Property Spotter

CastleDreamer replied to the topic New to the game-IP buyer in the forum Overseas Deals

Thu, 10 Feb 2005 11:35:32 +0000

Hi Icerip
just to clarify some of the comments here. You don’t need to lend from a lender that is represented on both sides of the tasman. You can lend from the “Bank of New Zealand Sheep Shearers” (example!!!) if that bank will lend to you!!!
Secondly, setting up a trust in NZ does not mean that you don’t pay tax on the income!!!!
If you want…[Read more]

CastleDreamer replied to the topic 31 Degrees in invercargill today. in the forum Overseas Deals

Thu, 10 Feb 2005 11:28:51 +0000

Westan Westan Westan, when you start raving about the weather in Invercargill I KNOW you are definitely getting to little sunshine down that way!!!! We are having 36 odd degrees and truckloads of humidity up Brissy way – was 39 on neighbours thermometer day before yesterday….. I would love 31 and dry!!! rather than the steam bath it feels…[Read more]

CastleDreamer replied to the topic First NZ property in the forum Overseas Deals

Fri, 04 Feb 2005 11:36:22 +0000

Hi Joe!
Congrats on the first purchase – finding the deals is getting harder and harder, so well done on the timing – sometimes that is all it takes – being ready and then just timing it right!! I hope it all turns out fine – building report comes through ok and rental appraisals stack up.
Great news for you!

CastleDreamer
NZ Investor and…[Read more]

CastleDreamer replied to the topic Do your due diligence on NZ properties in the forum Overseas Deals

Wed, 02 Feb 2005 16:47:00 +0000

Torachan, like Westan said why don’t you start a fresh post and the rest of us will respond to your comments. Although I think Mini sums it up succinctly.

Kerwyn, I agree in some ways about due diligence. I have had to let a deal go previously because the vendor wanted a cash clause (and it wasn’t even a real cash clause it was a “if I get a…[Read more]

CastleDreamer replied to the topic Conveyancing in NZ in the forum Overseas Deals

Mon, 31 Jan 2005 12:32:30 +0000

Hi there,
if you have not dealt with the solicitor before, I strongly recommend that you actually phone them and introduce yourself. It might seem oldfashioned, but when your email doesn’t get through, or they receive fifty emails that day, you might not be recognised or stand out that well. Establishing a good relationship verbally is important…[Read more]

CastleDreamer replied to the topic Invercargill Property in the forum Overseas Deals

Thu, 27 Jan 2005 10:11:42 +0000

Hey there, sure, rents have been a little thin on the ground in Invercargill recently, but if you’ve got property on the south side then you should be happily looking forward to the freezer works opening shortly a couple of K’s out of town southside on the way to Bluff!!! Six months time and all should be looking pretty fine in my…[Read more]

CastleDreamer replied to the topic BirdDogging? in the forum Overseas Deals

Thu, 27 Jan 2005 10:09:12 +0000

Hi Kiwi Pi, not a bad summary from betterbiz!!!
They have pretty much got it in one.
some spotters will be like you and find deals ahead of the client, others source property with specific criteria for their already identified clients, lots of ways it can work… PM me for info if you like.

CastleDreamer
NZ Investor and Property Spotter

CastleDreamer replied to the topic NZ Lingo... in the forum Overseas Deals

Thu, 27 Jan 2005 10:02:55 +0000

weatherside = kind of hardiplank looking but fibro

CastleDreamer
NZ Investor and Property Spotter

CastleDreamer replied to the topic Interest Free Loans in NZ in the forum Overseas Deals

Sun, 23 Jan 2005 09:03:01 +0000

these will certainly be worth watching to see what the outcome of the ASIC review/report ends up being!!

CastleDreamer
NZ Investor and Property Spotter

CastleDreamer replied to the topic Posts in the Overseas Deals Forum in the forum Overseas Deals

Sun, 23 Jan 2005 02:32:00 +0000

Well so far, the NZ topic area is up and running well. For those new to NZ investing, ask questions here for certain, have a good look at the answers and for sure, understand that different people have differing personal circumstances, so what’s right for one person may differ for another. If you are unsure about what someone posts, PM them, or…[Read more]

CastleDreamer replied to the topic Interest Free Loans in NZ in the forum Overseas Deals

Sun, 23 Jan 2005 02:05:50 +0000

all that glitters is not always gold!!! these loans appear to have a high establishment fee!!! (not saying that is bad, but that sort of cash might not be available to some investors to put into one investment property at the expense of being able to secure a second or third one as well) You get the time value of the money later, but lose it…[Read more]

CastleDreamer replied to the topic Tokoroa Property Manager in the forum Overseas Deals

Sun, 23 Jan 2005 01:59:50 +0000

I agree with the sentiments here, Kathy Chappell and Lamberton’s are both the most highly recommended rental managers that I hear spoken about in NZ investor circles for Tokoroa.
at the end of the day, you need a rental manager that is honest with you, remains in contact, replies quickly to enquiries and concerns you have, doesn’t muck around on…[Read more]

CastleDreamer replied to the topic New Zealand Property Investment in the forum Overseas Deals

Sun, 23 Jan 2005 01:56:18 +0000

Paying tax in Australia: this is general but here goes: Aussies pay tax on all personal worldwide income – whether or not they actually bring the money into the country – so if you have a profit or income in NZ and leave it there, the aussie ATO still requires you to declare it and pay tax on it if it is yours personally.
Yes the money is tax…[Read more]

CastleDreamer replied to the topic How Who Where What - of lending in the forum Overseas Deals

Sun, 23 Jan 2005 01:52:16 +0000

Hi all,
if you are intending to use ANZ in NZ, then suggest that same as you do here, you need to have a real person at the other end!!!.. PM me and I can provide an ANZ banker in NZ details who is very onto it with Aussie investors.
Cheers
Cd

CastleDreamer
NZ Investor and Property Spotter

CastleDreamer replied to the topic Building a good NZ team in the forum Overseas Deals

Sun, 23 Jan 2005 01:50:37 +0000

Hi Tokyojoe,
I see masteraccountants mentioned here. Quite a few Aussies are accessing his services for structure setup and accountancy in NZ…
Cheers

CastleDreamer
NZ Investor and Property Spotter

CastleDreamer replied to the topic Interest Free Loans in NZ in the forum Overseas Deals

Fri, 21 Jan 2005 11:22:35 +0000

a Quicklink for anyone who didn’t click where this was from……http://www.derivex.com.au/case_studies/home_loan_case_study.htm

CastleDreamer
NZ Investor and Property Spotter