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  • Profile photo of pooombapooomba
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    @pooomba
    Join Date: 2004
    Post Count: 8

    I have a free monthly newsletter for New Zealand. Subscribe at http://www.massiveaction.co.nz

    Dean Letfus
    Property specialist and Investor

    Profile photo of pooombapooomba
    Member
    @pooomba
    Join Date: 2004
    Post Count: 8

    Can I suggest as a NZ investor that you would be mad to be putting in offers at $10,000 below asking. I put about 10 to 20 offers a week in for property in and around Auckland and I would usually start at about 30% below asking. I have bought just under $4,000,000 worth in the last 12 months in Auckland and every property has been at least 9% below valuation, best one 20% below.
    Due diligence issues are much more about council dramas than valuations. If you’re offering close to asking, you’re offering too much. The hardest part for an Aussie investor is organising to view the council envelope on the property. It is essential to do that before going unconditional

    Profile photo of pooombapooomba
    Member
    @pooomba
    Join Date: 2004
    Post Count: 8

    As a full time investor in New Zealand I must say it’s sad to see all this to ing and froing. Kiwis love to bad mouth anyone successful and Phil Jones and Richmastery have been very successful at training investors. Their deasl are always as good as anyone else in the market and their advice is very valuable. Lets celebrate each others successes and get on with profitable investing.

    Profile photo of pooombapooomba
    Member
    @pooomba
    Join Date: 2004
    Post Count: 8

    Greetings all. I think Auckland is the safest place in NZ to invest if you’re not familiar with the country. Biggest city in the country, we will be affected least by the slump we are moving into. Rents are only softening in the city and city fringes. I have many properties in South Auckland and rental demand is very strong there. Right now is a great time to be buying pos cashflow in Auckland. NOTE: Avoid apartments altogether at the moment and flats need to be VERY pos cashflow. Safest bet is 3 brm 2 bthrm or home and incomes. USe Realenz.co.nz to find home and incomes all over Auckland. MAny agenst list the yield on asking for you now and one email can get you rental assessments etc. on a property. AVOIND THE SMALL TOWNS AT THE MOMENT, THEY WILL BE HARDEST HIT IN THE COMING FLAT PERIOD!!

    Profile photo of pooombapooomba
    Member
    @pooomba
    Join Date: 2004
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    Hamilton deal is definitely not good. I’m a kiwi investor living in Auckland. You should buy nothing with less than a 9% yield. Takanini, Papakura, Manurewa, Papatoetoe and Otahuhu are all good areas for yield. IN Manurewa the only thing to watch is some parts of the suburb Clendon are very rough. Visite Realenz.co.nz and learn how to search there. You can find properties listed with a 9 to 10% yield. To check market rents in Auckland go to http://www.dbh.govt.nz/housing/tenancy/Market-Rent/market%20rent%20area.asp?Region=Auckland
    I often have 10% deals on my website hotpropertynz.com but they don’t last long. Email me if you’d liek to be kept informed of good deals

    Profile photo of pooombapooomba
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    @pooomba
    Join Date: 2004
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    Just some advice to whoever said most of you don’t invest in South Auckland. Why not??
    As we move into our slump here South Auckland is a great place to still find pos cash flow property that will appreciate faster than probably anywhere else in the country. And you’d want your head read to invest in somewhere like Tokoroa these days. So much of the town is owned by investors it’s ridiculous and the place is slowly dieing. Hamilton, New Plymouth and Palmerston North are 3 smaller areas that are worth looking at, but unless you live here don’t throw your money away on some two bit town.

    Profile photo of pooombapooomba
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    @pooomba
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    Hi Kurra,
    If you didn’t find what you were looking for in NZ email me. I’ma full time investor in Auckland and provide mentoring services to investors. I can put you int ouch with the best leagal beagles and finance people. There are only a few that are really any good for investors. Let me know if I can help with any info

    Profile photo of pooombapooomba
    Member
    @pooomba
    Join Date: 2004
    Post Count: 8

    There are only 2 websites in New Zealand selling only investment property. hotpropertynz.com and richmastery.com Other than that realenz.co.nz is the main agents web site. I’ve bought Three Million dollars worth of property in NZ in the last 6 months and most of it I’ve found on hotproperty or realenz. The search capability of realenz is great but you have to have some idea of rental levels in an area. The other 2 sites do all the work for you. I’m investing full time and happy to help anyone who emails me. [email protected]

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