Hi all,
I am considering investing in New Zealand investment properties, in particular, Christchurch.
I have visited recently and am impressed that there is no stamp duty.
For instance, in Victoria--say 5% deposit on $300,000 apartment ($15,000) plus $14,000 stamp duty. =$30,000(1 property)
2 x 10% deposits in Christchurch on 3br rentals.-$25,000 x 2 =$50,000 (2 properties)
I understand that apart from debt reduction payments, losses are quarantined until you make a loss. Still seems worth it though.
Any thoughts or any postings/sites that you could refer me to?
I am considering investing in New Zealand investment properties, in particular, Christchurch.
I have visited recently and am impressed that there is no stamp duty.
For instance, in Victoria--say 5% deposit on $300,000 apartment ($15,000) plus $14,000 stamp duty. =$30,000(1 property)
2 x 10% deposits in Christchurch on 3br rentals.-$25,000 x 2 =$50,000 (2 properties)
I understand that apart from debt reduction payments, losses are quarantined until you make a loss. Still seems worth it though.
Any thoughts or any postings/sites that you could refer me to?