Viewing 9 posts - 1 through 9 (of 9 total)
  • Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    Some questions re NZ after reading a book if anyone can help?

    what the heck is a LACQ?

    What does is an ASB as in

    ” I raised an additional $100k revolving credit over the IP’s so with the value from the ASB..”

    also..

    how are people getting IP’s revalued at a higher value within a week, two or four..I’ve found a lot of valuations go on comparable and recent sales..yours being the Primary one??

    why Debt (Loan)to Equity ratio is Important rather than Loan to Value?

    Any thoughts on a Property Resume to add value didn’t HK also use to promote this approach..sounds great but I never got a lot of info on it??

    lastly here’s a quote

    ” Revaluing, Recycle Equity and top up revolving credit account to reduce interest payment on unused Funds”[blink][blink].

    …huh, is revolving credit a LOC, and have it linked as an Offset to current Loans??..something I’m currently looking at with great CG here..Top up the loans and put equity into LOC
    ..

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of masteraccountantsmasteraccountants
    Member
    @masteraccountants
    Join Date: 2004
    Post Count: 77

    Hi Redwing,

    An LAQC is a Loss Attributing Qualifying Company. It is a NZ invention, and only assists NZ tax residents. The normal situation is that the losses of a company have to stay in the company to be offset against future (hopefully) profits.

    In an LAQC, the losses are attributed to the shareholders in proportion to their shareholdings in the company, so that they can use the company’s losses to reduce the taxable income (and tax liability) on their other income.

    The ASB is a well known bank in New Zealand – the full name is Auckland Savings Bank.

    Your other questions relate more to lending criteria.

    If you buy properties below value, you can have them revalued at market value and then refinance to purchase other properties. There is nothing magic in that. It is wthin the law (regarding borrowing) and is a common property investment practice.

    Christopher Raynal
    Master Accountants Group Limited
    PO Box 46018 Herne Bay
    Auckland New Zealand
    Ph +64 9 360 3259
    Fax +64 9 360 2180
    http://www.masteraccountants.co.nz

    Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    Many thanks

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of oziozi
    Member
    @ozi
    Join Date: 2004
    Post Count: 262

    The ASB in NZ is affiliated with the CBA here in Australia.

    Regards,
    Ozi

    Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    Thanks..

    Next what are GV’s or RV’s ?

    PS- Chris, Weirdly enough Your name came up in an e-mail the other day, you were recommended by a NZ contact

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of masteraccountantsmasteraccountants
    Member
    @masteraccountants
    Join Date: 2004
    Post Count: 77

    Hi Redwing,

    GVs are Government Valuations (used for council ratings purposes and apportionment of purchase costs by accountants) and RVs are Registered Valuations (used by banks for lending purposes).

    PS. Funny that about my name coming up. Must be Karma!

    Christopher Raynal
    Master Accountants Group Limited
    PO Box 46018 Herne Bay
    Auckland New Zealand
    Ph +64 9 360 3259
    Fax +64 9 360 2180
    http://www.masteraccountants.co.nz

    Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    QV’s ?

    Quality Valuations..are the above all available free on the web or similar to RP Data with a service charge?

    I’ve found the valuer Generals Office here to be the best bet if you’re not constantly sourcing prices

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of muppetmuppet
    Member
    @muppet
    Join Date: 2003
    Post Count: 900

    Hi Redwing

    Most councils in NZ have the rateable values of property on the web.

    RV can mean Rateable Value or Registered Value and this can cause confusion.
    Rateable Value is used by Councils to set Rates payable by the landowner.
    Registered Value is a value put on a property by a registered valuer for valuation purposes for a bank loan.

    The term GV or Government Valuation is being replaced by RV or Rateable Value by the Councils.

    A list of Council websites can be found at:
    http://www.propertytalk.com/forum/showthread.php?t=4732

    Regards

    Join us at http://www.propertytalk.com

    Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    many thanks Muppet

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

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