Kev

There’s no Such thing as No Can’t Do!!!!!

Kev

There’s no Such thing as No Can’t Do!!!!!

Nothing is impossible.

i manage to get 2 deals in NZ less than 50000 NZD in 3 months period from MiniMogul

one 45K and one 48K both giving a return of 15% and 13% respectively

More to come

kev

There’s no Such thing as No Can’t Do!!!!!

Thinking of moving up there for my job next year after graduation, and since i’ll be in the 48% taxation bracket, i was thinking of making use of some negative gearing to gain some capital gain in a few yrs down the track, Seems like a great place to be searching for properties over the weekends COOL>>>> oh I’m so…[Read more]

Hmm, the rent’s low, it’s not exactly cashflow positive is it?

i might want to increase it a bit, esp after you’ve done so much renovation works and all.

There’s no Such thing as No Can’t Do!!!!!

So you can’t buy heaps of IP, don’t stay in them and then buy a PPOR and stay and claim, u wont get it as you have owned numerous IPs before.

however, u can move in within 12 months to get the FHOG.

There’s no Such thing as No Can’t Do!!!!!

Well if u move after 6-7 yrs, then most likely there are some loans left to pay off.. so u can still use it as IP.

Otherwise, if you are super good n manage to pay it off in 3 yrs like Anita Bell, then u can always use…[Read more]

As for funds, it’s the same no matter…[Read more]

so hmm that means non family members would benefit from a discretionary trust then? i’m thinking about things like u know same gender couple who are not recognized by law to have same status.. things like that ? or just partners who are not necessarily family members, discretionary trust would be for them then? or would they be better…[Read more]

Kev

There’s no Such thing as No Can’t Do!!!!!

So why spend the extra money setting up the company yourself and then pay 2200 for Dale to set up the trust when…[Read more]

Say salary 50,000

Car Loan 1000
House loan 2000

So you package it 50000-3000

=…[Read more]

it’s mainly to reduce tax and asset protection, depending on what job you’re in, u may be in a higher risk group, i believe i would be when i start work next year, so a trust is definitely the go, not to mention the tax advantage

There’s no Such thing as No Can’t Do!!!!!

There’s no Such thing as No Can’t Do!!!!!

That’s what i read in Dale’s book. i still think i will follow MelBear quote from Dale’s book. i still think the appointor is the most powerful person as he can hire and sack whichever trustee to control the investment. Sure, once appointed, that trustee is the one who’s managing it, like the CEO of the trust so to speak, but what if the…[Read more]

Anyway, we’ll see what happens,

There’s no Such thing as No Can’t Do!!!!!

well the reason i prefer to have a company as a trustee is because if that trustee(company) get sued, i can then as an appointor, Sack that trustee and put another one in place.

I suppose you could do that if you are the trustee, if u get sued, just sack urself and appoint a company or something. But then, i don’t like that idea because…[Read more]

do you mean even on renovation and home improvement you could claim that 5K govt grant? that’s great isn’t it ? well sorta ( until the time limit’s up )

There’s no Such thing as No Can’t Do!!!!!

Well i think what ArthurK was pointing to is that each trust has a limit in terms of land value. I think it’s 500000 ? before u get taxed for it ? some sorta extra tax levied on the land value of the properties that trust holds.

So when you have a few IPs and the land value is near the limit, then i suppose that’s the time to set up a new…[Read more]

Kev

There’s no Such thing as No Can’t Do!!!!!

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]

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]

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

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]

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]

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]

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]

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]

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]

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]

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]

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

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]

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]

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]

Kev

REgards,
Kev

Kev

http://www.gatherumgoss.com

click to shopping and there’s a link to his trust magic book purchase.

Kev

Kev

i suppose you’ve been bombarded enuf with infos on trust by now.

Dale’s Trust MAgic is a must read.. i’ve just purhcased it and it has just arrived in the mail. Very good book, plain n simple to understand. 99 including postage n handling, a small price to pay for such a Wealth of information.’

Kev

it depends on what that member likes to do.. if i have a family member that has that sum of inheritance, i would sorta coerced him/her into investing.. I could propose a JV if she doesn’t has the time or knows the ways to go about doing investing or is just too old to bother with it. A Good Money Partner and if that interest her in the…[Read more]

Kev

just wondering, when u do that signing and sending it back, i would assume that you have ur solicitor looked at it beforehand?

Kev

is it level 3 or level 1 ? the original post states Level 3 ?

Also, it’s unfortunate steve is unable to make it, so is there another mobile we could contact since Steve won’t be around tomorrow?

Thanks,

Kev

I’ve bought a vancant land but it’s vacant as it is. Let’s say if end of next year i start building, as in having the plan n all drawn up and the builder commencing work and the house finished in let’s say mid 2005. Provided the FHOG is still on then, can i claim the 7000? could i claim any extra for a vacant…[Read more]

well i’m a newbie too.. currently after learning a huge curve from the purchase of a vacant land JV with dad, i am excited to get an IP too.. but i have to wait :

1. to see how the market is going
2. to get my residency status end of next year to start buying IP, hence not needing to satisfy FIRB anymore
3. Get that degree so that i…[Read more]