Hi,
I have found what looks like a reasonable property with the right numbers in NZ North Island at Waverly in the South Taranaki District.
Do any of the forums NZ investors know if there is anything bad I should know about this town?
Cheers, Barr[blink]y
Hi Barry,
Have a look at The NZ Property Talk site,
The local knowledge available on the discussion forum may be beneficial,
http://www.propertytalk.co.nz/Hope this helps
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hey Steven,
Thanks for pointing me in that direction… There’s just sooooooo many things to monitor and check out it can be confusing for a newbie. [confused2]
Cheers, Barry
Nobleone,
Check out http://www.stats.govt.nz/
Type your town name in the search box on the top right, and it will tell you loads.
Be creative… you can buy knowledge.
You could also contact Westan and MiniMogul,long time well respected members of this forum,
Both are based in NZ and Source property for Australian investors,
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hey cre8iveQ… thanks for that stats site… got some good info there.
putting together all these great reaserch sites is I can see a valuable tool for due dilligence.
Hi Steven… I sent an e-mail to Westan on the 27th April… But no reply yet… he’s probably off scouring the NZ countryside for more IP’s [biggrin]
I will ask the same questions of minimogul too… Thanks.
The more info the merrier… Cheers, Barry
Hi nobleone
You can also have a look at this site. Plenty of property related links to peruse.
http://www.propertytalk.co.nz/modules.php?name=Forums&file=viewtopic&t=241
Regards
I have a property in Waverly! Yay!
It’s probably just about doubled in value in a year compared to similar properties on the market now, and as you probably noticed there’s not a lot for sale! AFAIK there is rental demand there as there was a year ago – back then, they had NO properties for rent there and needed some, had three people on the waiting list. Doesn’t sound that much but remember it’s only a town of 1500 people. Did you know that? BUT it’s only 30K along the coast from a city of 45000 (wanganui.) I don’t know if that constitutes a ‘suburb’ as it’s rural (you could get farm worker tenants for example, as I have) but it’s by no means remote. My property is managed out of Wanganui as Waverly is too small to have it’s own real estate agent. Ditto tradesmen.I tell you all this with the disclaimer that I have never actually seen or set foot inside my property!!! I bought sight unseen apart from pictures, and a builder’s report.
Now I have great rental managers who carry out any maintenance that needs to be done, (minor plumbing) inspect, let the property, and pay money into my bank account. What more do you want!Contact me if you want any other help. I am bird-dogging as fast as the hot little market will let me, (that’s a ‘we’ as I have a pardner-on-the-ground) but I’m also personallyy helping people on the phone and via email answering general ‘what do I have to do and in what order and what does this mean’ kinda questions to do with purchasing a property in NZ.
Kinda a hand-holding service. Not that everyone needs it but if you do, just PM me.cheers-
MiniHI Mini,
Great to read your post it has put some butterflys in my stomach to rest… Waverly sounds like a good location… I am just waiting for my accountant and finance guy to get back to me… Once I make an offer and it’s accepted i will PM you to get contact details of your property manager… If you are happy with their service that’s good enough for me.
Cheers and thank you, Barry [biggrin][biggrin]
Barry, no worries. i don’t know if it is your first property or not but the waverly one was my first. So I can relate to all the jitters. Jitters is one of the reasons I waited a year to see if the property was going to stack up – and that’s a YES! With some nice impressive rental histories to print out now.
Just TALK to a rental agent not selling you the property and get a proper assessment done, ask about demand.
AFAIK the wanganui region has a glut of sh*tbox properties but not enough decent, clean ones.
but last I checked was november and it was busy as anything then.
cheers-
Minire: positively geared.com, “They charge a fee, but are well worth it!”
They charge 4400. I talked to the guy at length. Yes, builder’s report, LIM and maybe a bit of web-printout is included in the price, but let’s say -comparing it to how I’m doing it, I guess is where I’m going with this – we charge $1200 to assign the contract over to you, and you order your own builder’s report from a selection of contacts (thus ensuring it is truly independent) for $350 bucks or whatever and a LIM for $150, plus we give some links and a fact sheet about the area. That’s gonna be a lot more than 15 pages, which is what this outfit is effectively marking up a heck of a lot, like 2.5K. And that extra 2.5 grand is a lot of weeks of rental income. Or money you could sink into redecoration, adding value, or repairs.I dunno.
Value is all relative I guess!BTW do you get to see the BR before you ‘purchase’ the property or after??
believe me, as a bird-dog myself I pondered using this method. (get the DD package, risk upfront to the bird-dog, then charge through the nose to the client.) I even thought over the guy’s offer to help him ‘back end’ his clients for a whopping fee – greater than our entire bird-dog fee which is split between two people.
Interesting stuff to think about
You must be logged in to reply to this topic. If you don't have an account, you can register here.
