Hi Nigel

You said:

Interesting comment.

For there to be an oversupply of investment properties can arise when
1. the live-in owners sell to an investor and leave the district.
2. prospective tenants leave the district.
3. prospective tenants decide to move in with others.
4. lots of investment properties are being built.

and probably there are many more reasons.

However in Tokoroa little if any houses are being built.
The cheese factory will be employing again shortly as the season gets under way.
The CHH mill is working at capacity.
There is a relatively high number of welfare beneficaries who find the cheaper living in Tokoroa of benefit.
A number of retired people are selling up in Auckland and Tauranga and buying more expensive property in Tokoroa and hence releasing the high equity that they held in their original property.
More people realising how central Tokoroa is to the rest of the North Island.

Regards

Hi Loanwolf

You might have have more luck with your question on http://www.propertytalk.co.nz

Regards

Hi bruham

As someone said in another thread a 20% gross yield in the USA is the same as a 10% gross yield in NZ because of a different tax system in the States.

And the 10% deals are still to be found in NZ.

Regards

Hi Guys

Mabbot said:

Westan and his brother Alvin have spent more than twelve months setting up the systems to allow them to find property for prospective investors.
These investors haven’t got the time or the vast amounts of money required in making numerous trips back and forth between Australia and the USA.
If you source a property through Westan then you will have all your systems in place very quickly.

You only have to read on the Somersoft Forum the very long sequence of events and frustrations Quiggles went through before he was able to settle on his first American property.

I suggest that you join Westan’s mailing list, buy a property sourced by Westan’s buyer’s agent, pay his finders fee and you will be making money far sooner than for you to start from scratch on your own spending time and money sourcing property and trying to set up your own systems.

Regards

Hi Del

Matata, a little township of about 300, 24kms north along the coast from Whakatane was very severely hit by mudslides and floodwater today.

I think just about the whole town has been evacuated.

Flooding also in Edgecumbe which was hit last year as well.

Tauranga had a couple of days of very heavy rain. Several houses built too close to cliffs have fallen over. Quite a bit of flooding as well.

Probably several 10s of millions of damage throughout the area. Several approches to bridges have been washed out.

Regards

Hi NZWoody

You could also check out http://www.empowereducation.com as they have a couple of articles in their library about wrapping in NZ.

Regards

Hi Guys

Mini said

Wouldn’t be in the North Island would it Min?

Somewhere north of Taihape?

Regards

Hi Guys

I am not selling any of my rentals. I am in for the long haul. Tokoroa is a very nice town and very central to much of the North Island.

The house next to one of our rentals was for sale for two weeks and sold for about $93k. We have just relet ours for $180/wk. The owner is renting his own house for $170/wk until he finds what he wants. The house was bought by a local as an investment.

There are a lot of empty houses about. Am not sure if this is abnormal or not.

Some flats that I mow lawns at are still empty after two and a half months. Some owners must be bleeding.

If 10 out of 25 came to Tokoroa that means that 40% of KA1 visited.

Harveys seem to have a lot of houses for sale but a large number of them are over $100k and thus gross yields are very low.

We have had our first frost for the season and the nights are becoming much cooler. Have had the heater on a few times now.

Regards

Hi Guys

Now living in Tokoroa, central North Island, New Zealand.
Am now mowing a few lawns for some of the Aussies who have bought up much of the town and cleaning houses when the tenants have done a runner.

Regards