Forum Replies Created

Viewing 13 posts - 1 through 13 (of 13 total)
  • Profile photo of PersiusPersius
    Member
    @persius
    Join Date: 2003
    Post Count: 18

    Hello to you Elka, grossrealisation, Philip, et al

    Thanks for your comments and suggestions. I had mistaken what you said in the previous message Elka, I will try forwarding a letter to the owner through the rates section.

    Will see how this goes and then follow up. Will let you know via this post how I go.

    Kind regards

    Persius

    Persius

    Profile photo of PersiusPersius
    Member
    @persius
    Join Date: 2003
    Post Count: 18

    Thanks Don, Winelover, and Elka

    Appreciate your taking the time to reply. Should have mentioned, have tried leaving a letter – no result, have tried the council re the rates notice and now know that they are very strict about privacy legislation. Will give the post office a try to see if they are forwarding mail or holding it for anyone.

    BTW, didn’t notice any untoward smells Don so reasonably sure that the owner is not still on (or should that be in) the premises.[

    Will keep you updated as to my progress and what, if anything, works in tracking the mysterious owner down.

    Kind regards

    Persius
    [exhappy]

    Persius

    Profile photo of PersiusPersius
    Member
    @persius
    Join Date: 2003
    Post Count: 18

    My accountant in Melbourne is pretty switched on and has done work for me over the last year and a half dealing with NZ, various property purchases and liaising with NZ accountants.

    Details are:

    David Brandi
    Level 3
    62 Lygon Street
    CARLTON VIC 3053

    Ph: (03) 9650 0550

    Cheers

    Nic

    Profile photo of PersiusPersius
    Member
    @persius
    Join Date: 2003
    Post Count: 18

    Salutations Silverback

    Suggest Robert Puklowski from Hometrust Mortgages in Wanganui. I know he’s very persistent and he did a good job for me.

    Robert’s contact details are:
    [email protected]

    Cheers

    Nic

    Profile photo of PersiusPersius
    Member
    @persius
    Join Date: 2003
    Post Count: 18

    Salutations

    When negotiating on property purchase price, after you’ve made your first offer and received the vendor’s counter offer, offer two prices. First a price if they pay for the inspection report/pest inspection/LIM report/whatever. The second price is if you organise the reports but this price is significantly lower than what the reports will actually cost you. Most people are lazy/can’t be bothered/too busy to organise these things and you can get a good little discount from your offer that goes into your pocket.

    Cheers

    Nic

    Profile photo of PersiusPersius
    Member
    @persius
    Join Date: 2003
    Post Count: 18

    Greetings SJS

    Can only advise on what I’ve done which is set up separate structure in Aust and NZ. Trust and company in each. If holding in NZ means less tax v’s Aust’s higher rates. If you only had an Aust. structure you’d pay tax on NZ earnings then receive a credit for what you’d paid in Aust. and pay the difference.

    E-mail me if you want the details of the professionals I’ve used. All seem to be on the ball and know what they’re about with experience dealing with Aussies – ntashkoff at vtown.com.au

    Cheers

    Nic

    Profile photo of PersiusPersius
    Member
    @persius
    Join Date: 2003
    Post Count: 18

    G’day Kylesbm

    Sent you an e-mail yesterday re your last post.

    Cheers

    Nic

    Profile photo of PersiusPersius
    Member
    @persius
    Join Date: 2003
    Post Count: 18

    Greetings Luke

    I’d be happy to organise the money re your 800 acres depending on the answers to a couple of questions, so will need further information. Please e-mail me: ntashkoff at vtown.com.au with your contact details and I’ll give you a call.

    Cheers

    Nic

    Profile photo of PersiusPersius
    Member
    @persius
    Join Date: 2003
    Post Count: 18

    Hello to all.

    I live in Fitzroy North (about 2-3 km out of Melb. CBD) having moved from Colac (Western Victoria) via Cairns and Canberra.

    Cheers

    Nic

    Profile photo of PersiusPersius
    Member
    @persius
    Join Date: 2003
    Post Count: 18

    Hello to all.

    I live in Fitzroy North (about 2-3 km out of Melb. CBD) having moved from Colac (Western Victoria) via Cairns and Canberra.

    Cheers

    Nic

    Profile photo of PersiusPersius
    Member
    @persius
    Join Date: 2003
    Post Count: 18

    Good afternoon Pat

    From what you’ve said I’d say the main reason finance might be a problem is that a lot of lending institutions are very wary of lending for CBD units due to the oversupply of units in the Syd. and Melb. CBDs. They are concerned that the oversupply could lead to a drop in price if vacancies increase and/or a lot of units hit the sale market at the same time. There are several reasons for their thinking but too long to go into here. If you want to e-mail me I can provide a longer answer for you.

    However, given what you’ve said about their rental guarantees and without knowing your financial situation I find it hard to understand why you can’t get finance.

    With regards checking up on the viability of the whole thing, I would ask the company for some referees both long term and recent clients. If they are legitimate, they shouldn’t have a problem telling you.

    I’d certainly be interested in following up on this if you’d be prepared to give me the name of the company selling the units.

    Regardless, good luck with them.

    Best wishes

    Nic
    [email protected]

    I have put a deposit on a unit in Sydney CBD and have been advised not to touch it. It has also been difficult getting a loan for it.

    There are no outgoings as the management looks after it incl. council rates, water/elec rates, B/corp etc. The only outgoings is for GST management that they look after as it is required.
    Furthermore there is even a guranteed rental agreement for 10yrs so there will be no vacancies for it and after that another 20yrs at 5 year renewable intervals. There’s a rise in rental after 3yrs and is also pegged to the CPI; whichever is higher ie. I have a + cash flow from day one. It’s even completely furnished and will be maintained by them.

    So what is the downside in it?? and why the difficulty with finance?

    My lawyers are checking it out but on paper company is stable with a lot of other properties run the same way all over Australia and they have been doing this for a number of years too.

    Any thoughts on it??? and pls don’t just say it sounds too good to be true. Some facts to your thoughts would be good as it fits all of Steve’s “advice”.

    PatLow
    [/quote]

    Profile photo of PersiusPersius
    Member
    @persius
    Join Date: 2003
    Post Count: 18

    G’day RugbyFan

    Would you be able to flick pass your property rates spreadsheet to me at my e-mail address below:

    [email protected]

    Hope you didn’t get too down about the World Cup result.

    Cheers

    Nic

    I vaguely remember hearing somewhere in the last few days, that land rates are more expensive in Tasmania – does anyone know what kind of difference there is between the various states?

    Allan.
    [/quote]

    I have the complete and up to date Land tax rates for all states of Australia in an Excel Spreadsheet. I would be happy to email it to you if you give me your email address.
    [/quote]

    Profile photo of PersiusPersius
    Member
    @persius
    Join Date: 2003
    Post Count: 18

    Top of the afternoon to you Mini

    Good work on the NZ deals!

    I have been looking at NZ and haven’t found any cashflow positive properties as yet. I’d be very interested in getting the contact details of the agent you have been talking to as well as how you do the legals etc for your purchases from Aust.

    My e-mail address is:

    [email protected]

    I’ll look forward to hearing from you.

    Thanks in anticipation.

    Nic

    hi guys

    not sure how to approach this with the rules, but here goes. thanks to our great networking skills in NZ, some agents actually totally ‘get’ what we are looking for and took us seriously when we said we know many Australian investors looking in NZ – and to contact us if they have any properties they think might suit us. one of them has now started emailing me some interesting deals. They are positive already on the asking price, and you could negotiate them even better.

    if you are interested i’ll forward you the whole email and you can take it with the agent from there. (I have deals falling out my ears, and thought it might be cool to pass them on. No money involved – just trying to keep good karma with the agent so that they continue to send me deals – also, we did say that we network with a lot of other investors.)

    “<sum> Purchase Price $53,000
    <sum> Registered Valuation $65,000
    <sum> Rent p/w $120
    <sum> Yield 11.7%
    <sum> Rates $1116.55
    <sum> Two bedroom
    <sum> Brick and clad exterior
    <sum> Iron roof
    <sum> Single garage
    <sum> Close to town
    <sum> Chattels: stove, TV aerial, fixed floor coverings, curtains and light fittings.
    <sum> Separate lounge, dining and kitchen
    <sum> Gas fittings and water heating
    <sum> 712m_ section

    Purchased at $53,000, the property is at 82% of registered valuation and is positive geared.

    <sum> Purchase Price $26,000
    <sum> Cerrent Registered Valuation $31,000
    <sum> Renovation required $4,000
    <sum> After renovation Reg Val $38,000
    <sum> GV $58,000
    <sum> Current rent p/w $80
    <sum> Rent after renovation $100
    <sum> Yield at current rental 16%
    <sum> Yield after renovation 20%
    <sum> Rates $1143.40
    <sum> Two bedroom
    <sum> Brick and clad exterior
    <sum> Aluminium Joinery
    <sum> Iron Roof
    <sum> In Town
    <sum> Chattels: stove, TV aerial, fixed floor coverings, curtains and light fittings.
    <sum> Separate lounge, dining and kitchen
    <sum> 334m_ section

    Purchased at $26,000, the property is at 84% of current registered valuation and at 69% of after renovation valuation.”

    cheers-
    Mini

    [/quote]

Viewing 13 posts - 1 through 13 (of 13 total)