Forum Replies Created
Phil
You are right in the fact that Tokoroa has been effected by the closure of the mill and as it was the major employer I foresee a serious shortage of employment opportunities. I suggest you research up the socioeconomic status of Tokoroa and the South Waikato District Councils strategic plan to see if there are any new developments in the pipeline.
Tamara
Hi
Due our location I tend to do as much of my research on the internet through generic search engines and specific ones that include future plans for the area etc and then try and verify it through alternative means such as RE agents, friends, forums etc. We usually are unable to make a visit to the location but do try and make holidays so that we can do some on site research…(I must say that is very difficult with 2 toddlers in tow).
Tamara
Mr sydney
To aquire finance in NZ is just the same as OZ. You can approach lending institutions individually or approach a mortgage broker. As far as know the best finance you can get is 80% the same as off shore investors investing in OZ. I understand the reason for this is the you can not obtain LMI.
I suggest that you go to Zanis1 (Marc) web site and have a look around it. There is a mountain of information regarding investing in NZ.
MangakinoI tend to agree with Dels comments about this place. Having passed through there and called in for work many times, my understanding is that there is a high crime rate – the local cop was murdered there a couple of years ago- and the houses do not seem to be cared for. It makes me suspicious of investing there. These are only my personal feelings.
Tamara
Hi
I agree with marc. I have recently ceased my PM contract taking immediate effect. They were very lax infact they were costing us plenty of money too. I have since found out that there were other people who were unhappy about the PM. In my opinion word of mouth is a good source of referal.
Tamara
For me some variety in your portfolio is essential. Most importantly though leverage is key to our investing decisions.
Tamara
Ash
You are right when you say the FRIB rules do not apply…well according to my research. My husband and I are investing from abroad also. While getting responses to your emails can be painfully slow, if you find a great group of advisors to support you and your due dilligence is thorough there is no reason why you can not invest successfully in property while off shore.
Tamara
Ktkiwi
The new magazine you are refering to…will it be available in magazine shops or should I be looking elsewhere for it?
My husband and I are currently investing in OZ and NZ and will be purchasing in NZ around xmas time, going back to have baby NO.3 then back up to Brunei.
Tamara
Tessa
Try the couple I included in the post directly above yours. If you are still not happy then I suggest you do a search through google. There are heaps.
As mentioned in other threads about nz two banks do not use mortgage brokers but that still leaves a large selection of lending institutions that you can use.
Please post again if you need more information
Tamara
Westan
I dont think that people should avoid buying in areas with high groups of Maori or Pacific Islanders. I think as with any property purchase you need to consider the ability of the tennant to pay and their willingness to care for the property. It has more to do with the socioeconomic group that will be interested in renting your property and their ability to pay. then other indicators when you purchase in particularly low socioeconomic areas evidence of graffit, cars in disrepair on property. I like to research the schools. Ulitmately the ability of the PM to manage your property so all parties benefit.
Tamara
Hi
Muppet I agree with you comment about Huntly having the potential to be treated as an outer suburb of Auckland. Hamiltonians already drive to Auckland work and the new State Highway will on encourage more people to consider this option. It may even help lower the unemployment rate in Huntly who knows.
I would be considering places in the Bay of Plenty. They tend to close to the sea, have high sunshine hours and certain spots are attracting plenty of CG. I think to add to Te Puke and Opotiki, Ohope, Whakatane would be worth looking at. I also would be looking on the northern side of Hamilton, but watch out for the State Highway which is being built you wouldnt want a property too close to it.
Personally I think that Papakura, outer Auckland, has postential as they are going to be a transportation hub for Aucklands bus and rail system.
Tamara
Tamara
Hi
Huntly is a small town about 1 hour south of Auckland and about 1/2hr north of Hamilton. It is one of the significant communities for the Tainui Iwi. It has a number of busness’ that have relied on State Highway 1 travelling through it. The very near future will see the highway move right out of town. What that will mean for the business community I am unsure.
Unemployment is quite high and a number of houses are built on land near/ over underground mining setups. I am sure that if you look up the Waikato District Council their web site will give you more information.
I hope that gives you are start.
Tamara
Recovery man
I have not yet used either of these brokers but have emailed them responses to my satisfaction.
http://www.financialpictures.com/
http://www.approved.co.nz/benefits/
Hope that gives you a start.
I am about to draw down some equity from our property and will keep you posted re brokers.
Tamara
Tas Investor
You are right about the ease of investing in nz.
I feel the only time you will be exposed to currency fluctuations will be in providing a cash deposit (assuming you have no equity to utilise) and fees for professional services. You then make sure sure you have a cashflow positive property.
Banks in nz certainly make it easy to then manage your account/ mortgage from anywhere in nz or overseas.
Tamara
I have read on a mortgage brokers site that some non resident buyers are eligible for a less than 20% deposit. Unfortunately I cant remember where I read it. It did go on to say that very few people were eligible for it.
I assumed that the exemption worked in the same way as in Australia…..must be earning a large 6 figure income.
I understand that it is not banks that have put the 20% cap on, but the mortgage insurance companies which wont insure you
Tamara
Hi we only have on in nz at the moment. It cost 140K and is being rented out at $250pw. As we have owned it approx 6 years it has had CG of about 25k. It is located in the outer suburbs of Auckland.
It has only been vacant for about 8 weeks in that time.
I suggest that you can find them in you designated part of nz. Just do your due dilligence and it will help guide you
Tamara
Hi
I too have not receieved the newsletter since March. I use hotmail where the email was coming directly into my inbox. I have even been checking my junk mail box but nothing.
Can it be post when the next newsletter is sent out so I can look specifically for it.
tamara
To save contacting a variety of nz banks why not try a mortgage broker. There are some that have plenty of experience dealing with non resident buyers. I will post a couple if you are interested.
Tamara
Hi gianni
I believe that the best way to finance IP purchases in nz from oz is through a nz bank. My suggestion would be to use a mortgage broker to help you source the best deal.
Tamara
To further add to Davids comment. The IRD checks with the Land Transfers department to see if you are fliping property. It is not easy to hide these types of transactions.
Tamara
Hi
I thought that those who are planning on investing in nz might be interested in this article titled 2021, the Future. It can be found at this link
http://homeandgarden.nzoom.com/homeandgarden
Sorry i dont know how to post a link so you will have to do a little searching.
Tamara
