Forum Replies Created
hi Simon,
Anytime you have someone – I’m still keen!
Kind regards,
KirstenHi Saicci and WallFlower…
Many thanks for your help. I now have a really good idea how to structure the deals. Just need one now….
Kind regards,
KirstenHi Kattan,
I have just ordered Trust Magic, so I’m sure I’ll learn more from that, but if you can explain, then I’d really appreciate it as I’ve set up a trust and want to use it to it’s full advantage. When you say:
“It is under a Trust structure hence no worries re Cap Gains.”
What do you mean ‘no worries’? Is it possible to buy in the name of a Trust and still not pay CGT??
The possibility excites me[hair2]
Regards,
KirstenHi Kattan,
I have just ordered Trust Magic, so I’m sure I’ll learn more from that, but if you can explain, then I’d really appreciate it as I’ve set up a trust and want to use it to it’s full advantage. When you say:
“It is under a Trust structure hence no worries re Cap Gains.”
What do you mean ‘no worries’? Is it possible to buy in the name of a Trust and still not pay CGT??
The possibility excites me[hair2]
ahh that’s solicitor not solitor….
[withstupid]I;ve never done a JV, but I would think that a solitor would be the best person to advise you and draw up an agreement and put property into the correct names etc.
Hope this helps
Kirsten[aacool]Hi Andrew,
As Silver said, make sure the figures are correct. We’ve found that often management wages are not taken out (if previously owner-occupied) thus showing much larger profit than was actually achieved.
What about finding a fellow investor if you can’t get a better loan deal?
I’m interested in any good deals.
Kind regards,
KirstenHi Bennido….
Gee, you’ve really got the energy around here pumping with your post!
We also bought our first IP (in Kirribilli) -vely geared. We got in and renovated, and used the added value to refinance and renovate our PPOR.
These days, 4-5 years later, the IP is still slightly -vely geared, on an interest-only loan.
Right now, my husband is out selling it because I believe that although it’s still a good IP – it doesn’t fit into our investment plan anymore.
So… what I’m trying to give you an example of is, it’s possible to change investment plan from -vely geared to +vely geared. Use your property to it’s best possbile advantage for now and then as you move into your ‘prefered way’ of investing, if you can’t make this one fit (by wrapping or renovating or whatever) then sell it.
Regards and best wishes.[biggrin]
Hi all,
I’m dismayed at the negative responses that 1hotvaluer is getting. I agree that there are properties out there – I’ve found them myself – with a 10% or greater yeild.
Negativity will confirm all your fears though – so keep going guys if you need to.
Kirsten
Hi Simon and Crest,
It’s in NZ. How do I find out the leasehold terms? does it mean that the property is leased back to an entity or does it mean that the land is leased for a set term, and if so, what happens when that term ends?
I think I need to do some reading!
Kirsten
Hi Mini,
Thanks for all the great advice!
I’m interested in any ideas that can assist me along the way to investing and becoming financially independant.
How do I find out more about you and your friends? I have some friends spread around NZ that can do inspections for me….but mostly not in the areas that I’m looking.
Kind regards,’
Kirsten[biggrin]Hi Westan,
Thanks for the sympathy. I was looking in Rotorua…but I fear that I got there too late. Also, as a city it really didn’t appeal to me. Is aesthetics/habitants/smell a good enough reason for being turned off investments? Or am I being too emotionally based?Tokoroa was the place that I was all prepared to go and buy 3 or 4 properties from but when I got there, there wasn’t 1 house available to buy – the agent I had been dealing with told me as I was about to get on a plane from Sydney to Auckland. They were all sold! [ohno]Whole flaming town. Anyway, it may not have been a bad thing that I missed out on Tokoroa property because that week they downsized the mill (major industry serving the town) and many workers were laid of (about 70 I think – which is HUGE for there).
The few places that I was interested in the returns in Rotorua were either occupied by gang members or had them as neighbours[blink][confused2]
Better luck next time…back to searching.Russ, I agree that this is a GREAT place to find out info and combine knowledge. Maybe you and I just need to jump in and take an IP that isn’t entirely perfect. That’s what I’m thinking anyway – that I’m being too cautious.
Take care all,
KirstenThanks Yack,
After making a few enquiries today, I can see what you’re saying. Some of the figures weren’t really there with one property I looked at and the finders fees were more than I spend on a holiday in which I could combine property searching. However, it is of use to get an indication of what areas to look in.
I’m wondering if this is for a new thread….I have been spending a lot of time (sorry kids) looking for properties to invest in. I’ve recently spent time and money taking a trip to NZ (came back without a property).
So I’m wondering… how much (to the property investing gurus) time does it take to get rolling with this. Is the first one the most time consuming?And, I wonder[rolleyesanim]….are there any groups of investors that I can join to combine resources both financial and energy/time?
Regards,
KirstenHi All,
I’m really keen to get investing also. I recently went to NZ and I was pretty disheartened at what was (or wasn’t) available. However, it was a first trip, and I know have set up a good structure for investing and have learnt a great deal.
….I’ve been looking at the richmastery site. The properties that they have look good for positive cashflow. However, I’m aware that there were a couple of comments about them not being great investments.
I’m really interested to gain some advice from experienced investors here….can anyone explain what isn’t good about these properties?
Sorry for the ignorance.
KirstenHi…
It may sound crazy, but she could rent a smaller house closer to shops etc and with the money gained from selling her other house (tax-free) she could set up a trust and you could assist her in investing that money. Perhaps you could both invest money in the trust evenly.
I believe that one must sell their property at market value. The taxman would be pretty quick to assertain that he wasn’t get the right stamp duty.
However, I’m really a novice here, so I’m not sure if that’s helpful information or not…
[blush2]
