Recent content by deeman

Hi When and where is Michael G speaking? D

Thanks Rolf There are no other commitments apart from the debts mentioned excepting normal living expenses which I believe are minimal. What's the best way of approaching these lenders and what rates (approx.) are they charging? D

Hi Not too sure if I'm in the right place for this, but I have a friend who is up to his eyeballs in consumer debt ($60k). A few bad decisions, a messy divorce and so on. Every month pays off a myriad of credit cards varying from 14% to 18% and is effectively getting nowhere rapidly...

Hi No... If you are flipping in NZ the properties are treated as 'trading stock' therefore the profit you make from flipping is treated as income. You are then taxed on this income. Hope this helps D

Hi Fitguy Flips are legal in NZ, but by doing this type of activity you are deemed a trader and will pay income tax on profits accordingly. Capital gains do not apply to long term buy and holds, you will be taxed on fips D

Excellent Rolf Thanks once again for your help D

Hi I'm assuming with Asset Lends that the loan will be based on value of property rather than purchase price? Any other criteria for an asset lend apart from the 35% deposit? Thanks D

Thanks guys for all your input I like the conventional method of getting a lo docs type loan. I guess once I get a property or two under my belt, I effectively will have an income. Thanks D

Hi Basically I will be going overseas soon for an extended period (perhaps 6 months). When I return, I will have no job, but will want to buy an IP and want to know if it's in the realm of possibility. I am looking at the worse case scenario of not having a job and still being able to...

Hi Hypothetical situation, but possibly will be me in a few months time. $100k+ cash No other assets and no liabilities No job Is it possible to get a loan based on this situation? I will be purchasing CF+ properties and essentially they will be self-funding; ie rent...

Hi I've been trying to contact them all day, but no luck so far. I was also looking for an alternative opinion as they are bound to say that these are mandatory when they in fact may not be?! Thanks D

Hi Need some help here. I am refinancing one of my IPs and have finally received my loan documents to sign. It is just a simple loan increase. The property is in the name of my Corporate Trustee and I am acting as the guarantor for the loan. I was of the impression that all I would...

QB Why don't you purchase cash flow positive properties, that will increase your serviceability. Cheers D

Hi Why sell? I guess I look at it as the opportunity cost of money. Cash from the sale will effectively work twice as hard for me in NZ rather than leaving it 'dormant' in this property, but I hear what you're saying. Cheers D

Hi guys Thanks for your responses... The property is in Traralgon Vic... It's a solid 3 bedroom Brick veneer house. A similar property to mine sold for approx $110k last week in less than a day!!! The property was last rented at $150pw and am shopping around with RE agents to get...