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Hang on a minute seems like there’s still a few Tokoroa properties for sale. I just did a search on trademe and over 10 came up.
I tend to agree with dvane, yields are no good without at least reasonably good tenants! I would only buy in Tokoroa if the property was in the top 5 most tenantable in the street or top 2/3 on a small street (after reno).
Keep ’em coming Mini! But maybe cut down on the amphetamines. (just kidding!!)
Hi Don and Liz
Yes I’ve spent quite a lot of time in New Plymouth. Looks like the area will keep growing, especially if Tourism Taranaki can make good their growth projections. Prices have certainly gone pretty crazy though and I hope the market pulls back to a more realistic level but who knows??
Thanks for the sound advice, much appreciated. I think there maybe still some small capital gains possible in Taranaki as tourism seems to have a future.
MiniMogul I’m sure I’m pushing my luck but any tips on where I should be looking??? Todays places??
Oh I see that’s a shame I really wanted to get a property in New Plymouth. Are you sure its no good? My friend recently brought there and was pretty happy with his purchase.
So which areas are offering the best returns at the moment?
Can anyone give me some pointers, I’m originally from N.Z but have been abroad for a long time (currently Tokyo) and I really want to get a N.Z IP because right now I don’t own property. But is it a good time to buy my first IP?? Is Olly Newlands property crash really coming? All I want is something that pays for itself so I can start building equity, I need equity! Ideally it would be good if I could get something that’s easily tenantable now but has good renovation potential so in a couple of years I could clean it up quickly then sell and reinvest. Don’t really want to put in anymore than 15k all up right now because the NZ$ is so high.
What would be a good strategy for me? Any advice you could offer would be appreciated.
