I totally agree with MiniMogul on that, that is another alternative too. No stamp duty, no problem transferring it over at a later date.

But if you’re certain you’re going to gather lots in a few months to yrs time, then i suppose no harm setting it up now and just add to it. saves you some time.

if you’re new to NZ, then getting a feel of…[Read more]

hi Muzz,

It depends on which market you’re targetting as your tenant. If your market involves people who doesn’t necessarily going to settle in for a long time, eg international students or working young adults, then it may interest them that everything’s ready they just have to move themselves in.

But then again, i suppose you could always test…[Read more]

Hi all,

There are lenders BASED here in Australia and NZ, who will lend to non NZ residents for the purchase of New Zealand Property,
and the New Zealand property is the security over the loan,
Regards
Steven
Mortgage Broker

Hi Steven, would you mind giving some names on who those lenders are ? thanks

Kev

oh, forgot to answer the question of how long it would take.. i’m not sure myself as i haven’t set up any trust yet.. waiting for next year when i’m a resident and hence would be considered as an australian trust and not a foreign trust if i were to set up one now. but generally i don’t think it will take that long, the accountant should be able…[Read more]

Dear Geo,

u can have urself as a trustee of course, but that doesn’t protect you if you get sued. I generally prefer to set up a company that i own majority shareholder that then manages the trust. It gives me extra protection and also it just allows the trust to pay the trustee sorta consultation fees i suppose which will be taxed at corporate…[Read more]

House Hunter is right, the main point is you have to be the appointor who controls what happens in the trust..

Hi geo,

a trust is basically something that is there for the benefic of your beneficiaries, trustee being the entity that manage the investment for the trust. It can be an individual or a company where u control the majority of the shares.

Now the appointor is the one that hires or fires the trustee. Basically the Appointor is the Boss. Which i…[Read more]

hi, i went with Bankwest who offers me 70% LVR as i’m considered an overseas borrower ( non-resident residing in Aus who buys property in AUs )

If he’s a resident of Australia, he doesn’t have to go through FIRB and hence would then be able to satisfy more banks compared to me, as most banks dont’ like the terms set out by FIRB as they deem them…[Read more]

Dear Glenetti,

Hmmm your loan structure and wages stucture sounds very much like the country i’m from < Malaysia > The rental there’s Monthly so is the Salary.. however, there isn’t any fixed time, even when you’re off work, u could essentially be working OT UNpaid.. such is the working conditions in most asian coutries, where u work work work…[Read more]

SIS,

i’m not sure what ur background is and how ur circumstances is like. but i think sometimes some changes and sacrifice will be paid back greater.

i am facing the dilemma of where to work next year as i dont’ want to leave my partner in Melbourne. but it has to be done if it has to be. sometimes u just have to think positive and give it a go.…[Read more]

my, with regards to FHOG, if you have a few IPs already and do not live in either of them, hence IPs not PPOR, do u still qualify for 1st home owner grant?

i was under the impression that ur first home is ok for receiving the FHOG if it’s ur PPOR but if you have ur first home as an IP and subsequently bought ur PPOR, that’s not considered a first…[Read more]

Dear Greg,

oh by the way,

hmm i suppose you could try a Hybrid Trust where u could determine which that you and ur wife holds 80% of the trust and her 20% if you want a 80:20 ratio partnership and from ur 80% it became another sub trust (ur family trust) and her 20% will becomes her own family trust.

hope that make sense?

else if it’s just 3…[Read more]

Dear Greg,

Does ur friend has Medicare card? if she has, most likely she will definitely pass as an australian resident, citizen even maybe? As far as i know, if you have both driving licence and medicare card, you’re as much australian as any others (PR or Citizenship wise) NOt sure if Driving LIcence applies to senior citizen but i would assume…[Read more]

Elves, if you’re planning to invest in lots of properties, trust may be the way to do it. If your accountant isn’t happy with that, maybe it’s time to find a new one.

But if it’s just to get 2-3 IP and that’s it, then it’s really not worth having a trust set up. It’s more for the massive IP accumulators so to speak.

Cheers,
Kev

oh, my land has increased in AUD 30,000 in value since last Sep when i bought it. it’s a great learning curve doing that deal and all.

and i had variable finance on it so that it allows me to make extra repayments to shorten the loan and to reduce the interest repayments i have to pay in the long run. that itself is a great learning curve to me…[Read more]

well i’m in UNi too.. First of all, you’re Young.. TIme is your GReatest Asset.

It’s good that you’ve started thinking about ur future young. what i did while still in uni was to join partner-ship with dad to purchase a land (soon to build end of this year ) to increase my equity so that when i start work next year, i have a good credit repayment…[Read more]

Dear GEo,

if you’re going to settle the properties, then why not divide the profit equally as both of you have deposited equal amount and just cash out? after all, once the investment has been settled, there’s no more partnership on those properties isn’t it? but that depends also on the contracts both of you may came up with prior. tell us how…[Read more]

oh i’m in Melbourne, VIc by the way.

Kev

George, would you mind sharing with me the details of your solicitor? i’m looking for one too, the last one i used wasn’t very good, not gonna use him anywmore. it’s vital to have a good solicitor in ur team.

REgards,
Kev

those who don’t think they could do wrapping, then don’t do it. but others who are comfortable doing it, Very well Do it.. it all depends on personality and ur own investing strategies. Nobody does it like everyone elses. Success comes from doing things differently ( steve’s popular trade statement )

Kev