Still where can I find an IP in Dunedin for under $40K relaenz just doesn’t have them. Has anyone seen any, anywhere else? I don’t like to use open2view, way too confusiing and not as good as realenz. Any help here??
Oh my offer was accepted in regards to the land I was wanting to put a contract on. Yippee!! so long as the LIM report is ok, looks like I’ve just bought myself my first bit of something.
Back to the Dunedin thing. Ya I have a vibe for that place too, Timaru is quite big as well. Big towns from what I can gather generate interest.
So fi anyone knows where a good place to search for these properties are, please do fill me in.
Sooshi, how did you hear my tracks?
Who is Simon?Got me stumped.
Cheers and thanks to all for all the imput.
Bridgette
Hi Sooshie,
This link below you sent me didn’t show up anything???
https://www.propertyinvesting.com/forum/search.asp?mode=DoIt
What were you doing a search for?
Was it properties in Dunedin?Thanks you for your efforts.
I look forward to hearing from you soon.
Kind Regards,
Bridgette
Hi guys
looks like we can’t keep the lid on NZ too much longer.[
]Muppet, yes those towns starting with W and T that don’t show any capital growth. if you can buy into a town like this, that is about to increase its workforce, by say 100 then you would expect some capital growth. Sometime properties are just so cheap they have to go up in value. i think even New Zealanders are starting to realize some of the bargains in their own back yard. i bought a house in Adelaide (elizabeth) in 1997 for $24,500, everyone said there would be no capital gains there. well two days ago i sold it for $94,000. that’s not bad for a place historically showing no capital gains. (and no i didn’t do much to it, just new carpet when i bought it and an airconditioner a few yrs ago). i like to buy for the cash flow and any CG is the icing on the cake, i try not to rely on it.
Well done Bridgette with your first of many NZ properties.
better go the Pizza’s have arrived.
westanMy hat goes off to you once again Westan what an awesome thing to have been able to sell the house for so much more. But do you think you could get that much CG in areas outside of the main Cities in NZ?
Sure hope Waimate goes that way now I got some land there. Well almost.
How did you find your Dunedin property?
I am still keen to buy there if I can.Would you say it would be better to invest in Dunedin than Gore?
Thanks for the encouragement too and best wishes.
Cheers,
Bridgette
Bridgette!! yay!! you’re a landowner!! Cool!!
(and doesn’t that just make a huge psychological difference to one’s life???!!!)
To know you own your own little piece of turf somewhere!
So proud of you girlfriend!!!!
the next thing is what to do with the land? You could always look into getting a relocation house from somewhere and getting it plonked on there. There are actually house-yards and the price includes having it piled (NZ-speak for stumped) onto the section and connected to power and water.yeah i reckon your land will go up for sure!!
Re Dunedin i don’t think you could get in to the market there for 40K. However i might be wrong, but then it might be a dump and need complete renovation. What I’ve seen (but still cashflow positive) is around the 75-80 mark.
I know a girl who bought land at Himatangi beach for 15K and it seemed to double overnight, that is, as soon as she bought it she had offers to sell for 30K.
That’s a beach that’s to the left hand coast of Palmerston north or Levin kinda area. hokio beach too. trouble is the areas are small and there isn’t that much for sale there at the moment.cheers-
minihi all
hi mini how have you been? i haven’t spoken to you for ages, did you get the NZ photo’s? Bridgette is doing well isn’t she, you are a great teacher mini. i think Bridgette has done really well with that “Section” (block). i’d rather Dunedin to Gore, but the prices are cheaper in Gore (great name for a town). Dunedin has a suburb that is considered the worst area it’s called Brockville, it has fantastic views, does anyone have any comments?
westanhi westan,
sure did, thanks – i wrote you a longish email back, did you get it? all of you look gorgeous!!! great to put a face to a name with muppet too!!!
I am bummed i couldn;t be there (byron was great though – am heading back there tomorrow for three daze, yeh!)
yeh bridgette is doing amazing stuff, i am trying to talk her into coming to the Steve seminar in november.cheers-
MiniPS tell diamond to get he *ss back here at the forums, we miss her
Hi Min
Damn the cat’s out of the bag, I knew I shouldn’t have had my photo taken.
There is a posting in Forum Fun as to how Muppet came about. That’s her in one of the photos.
Report in this mornings NZ Herald about the housing boom.
It is from the ASB quartly housing survey and briefly it says that the housing market has become riskier, but low interest rates are keeping housing affordable and the boom shows little sign yet of running out of steam.
Expectations of more price rises are moderating, people expect interest rates to rise and their sense that this is a good time to buy is fading fast
The chief economist at the ASB expects the upswing in prices to continue for another 12 months.
The supply of housing remains short.But factors have been around for a while now.There is also a report in the paper stating that Australian interest rates will increase before the end of the year.
So you have it. I have noticed that property offered to investors by searchers have generally dropped their yeild rates to below 10%.
Damn the Wallabies won.
Regards
Hello all you pretty people.
Where can I view these happy snaps of you all??
It’s so nice to read people saying nice and encougaing things about me….aawwe. Thanks Mini and Westan. I have learnt so much from you both and still learning.
I am pretty happy about the land too.
Here is the thing abut what I want to do with it. I don’t want to buy one of those rellocatable houses and use it as an IP that way. I think the idea is to offer someone else the land to do that or even a caracvan and worst case even a horse on it.
All I want is enough to cover the rates. Then maybe next year sometime D and I might build a very modest three bedroom cottage and use it as an IP that way.Any thoughts?
Any ideas as to how much a cheap three bedroom cottage would cost to build in Waimate?Anyone got any other tips as to where is hot to invest?
I understand if you do not wish to share, maybe once you have bought there, then spill the beans.Cheers,
Bridgette
Hi Guys, and welcome to Bridgette, fantastic news on your new landowner status, i agree with mini’s statement that it does make a great psychological difference when you do have some under your belt. I am at present living in Gore, and yes, not a bad wee town at all.
Dunedin has a suburb that is considered the worst area it’s called Brockville, it has fantastic views, does anyone have any comments?I spent quite a few years of my youth in this suburb and think that it is a great place. Westan is right some parts of it (most) have superb views. I do think it has quite a few points going in its favour as well, ie good bus service, easy route to get into town (quite steep hills tho, but then most of Dunedin has these), most of the houses there are what they call (here in NZ), State houses ie. Government built houses. These houses are normally very well built. This suberb did used to have quite a bad reputation, but think that this was more like 20years ago, and now things have changed a bit. Personally I wouldn’t hesitate to buy there, indeed I missed a beauty there last year, and have regretted it ever since. My thoughts only, hope this helps in some small way.
Treenhi painter
welcome back to the forum
thanks for the comments about Brockville, i drove through it the other day (when i was in NZ) and thought it had potential, i would have looked at a few there but had an appointment to look at a property in Timaru.
The properties i bought in Gore, one is at 5 swan st the other in Howard st
yes i like Gore too.(nice name for a town)
westanI’m relatively new to this website and posting stuff on forums.
I have only recently come across Steve McKnight. Have recently purchased his book – haven’t finished reading it yet, but thought the 11 sec rule and the cashflow positive bits made a lot of sense.
I also recently became interested in properties in NZ, mainly because Syd prices are now way out of my league. Problem is no relatives or friends in NZ, nor have i ever been to NZ.
Have been searching on internet for general info, but i guess unless you know someone there or have been there yourself, it’s not the same.
Came across this forum and found it really useful in terms of getting a ‘feel’ of which suburbs are good for CG, which ones for CF and which ones for CG and CF.
Just thought I’d put in my 2 bobs worth and let you all know how much I appreciate this forum!
Cheers,
I’m relatively new to this website and posting stuff on forums.
I have only recently come across Steve McKnight. Have recently purchased his book – haven’t finished reading it yet, but thought the 11 sec rule and the cashflow positive bits made a lot of sense.
I also recently became interested in properties in NZ, mainly because Syd prices are now way out of my league. Problem is no relatives or friends in NZ, nor have i ever been to NZ.
Have been searching on internet for general info, but i guess unless you know someone there or have been there yourself, it’s not the same.
Came across this forum and found it really useful in terms of getting a ‘feel’ of which suburbs are good for CG, which ones for CF and which ones for CG and CF.
Just thought I’d put in my 2 bobs worth and let you all know how much I appreciate this forum!
Cheers,
hi curious welcome aboard.
hope you get as much out of the forum as i do.
see how your post came up twice you can delete it by pushing the delete button on the left hand side. it came up twice because you pushed the “back button” rather than a link on the page. Don’t worry we have all done it one guy posted a message 3 times.
bye westanHey All,
What is CF?
capital something I guess.Painter, how do you find rental demand in Gore?
Would you say that there is a shortage of rentals in Gore?Tell me, what attracts people to Gore?
Is there a lot of work in Gore? as I have been told otherwise.
I am thinking of possibly buying there. I will hve to get a loan for just about half of the purchase price.
What do you all think?? I know Westan must think good of it to buy town houses there. What about everyone else?
Westan you were saying that you went to Timaru to have a look at properties. How did you go?
What did you think of the area?
Do you think there is quite a high rental demand there?I rang Waimate Ploce Station and they said there were no gangs in Waimate but there were some in Timaru.
Were there any properties going there for under $40K?
Cheers,
Bridgette
hi all
bridgette
Timaru is a really nice small city (pop about 28,000) it is on the coast and has a nice beach (not that you would want to swim with the ice-bergs but New Zealanders do). it has a port as well. the retail district looks prosperous, and is well presented. a few new looking cafe’s are positioned to give veiws over caroline bay. i’d like to buy there. Unfortunatley prices are a bit high for me. one i wanted to look at sold before i could get it. i believe rental demand is strong. Bridgette all you need to do is ring a rental manager and ask how many 3 brm homes they have available, then ask how long have they been vacant and check condition, sometimes houses can be vacant because they are dumps.
i don’t think you would get anything in Timaru for 40k, even in Waimate it would be hard now. Well done with ringing the cops, they must have been suprised to get a call from an Aussie investor. That’s called doing your due diligence.regards
westanHi Bridgette
Three web sites to further your knowledge of the NZ market.
http://www.bricksandmotar.co.nz
http://www.richmastery.co.nz
http://www.propertytalk.co.nz
This last web site belongs to Zanis who posts on this forum.Westan spent a week travelling around and visiting the towns in the South Island he was interested in. Then he travelled to the North Island and visited more towns.
As he said he talked to PMs and RE agents to get a feel for the areas.
The PMs are a great source of information about their respective patches. They can tell you the best and worst streets to buy in, whether the rental market is good or not and they can give you an indication of what a reasonable rent is.I hosted 4 investors(including Westan and his lovely wife-luckily he left all his kids behind) during a one week period recently. They were in NZ looking at prospective areas to invest in and to get a feel for the areas they were interested in.
I thoroughly enjoyed their company and discussing our respective ideas on investing in property.
One of them was bemoaning her $300 telephone bill run up ringing NZ.I went to a seminar last week(report posted elsewhere) and the presenter said his company only considers cities of 100,000 people or more. These cities will give the high capital growth that they are after.
Good luck in your search and remember expenses paid for trip to NZ maybe tax deductible.
Mini is out here soon and I am hoping to meet her.
Regards
Sigh…..
Hey Muppet, Surely you could claim hosting all these aussie investors in some form of tax break??
Craig
NZ Property Investing News
http://www.Landlords.co.nzhi Craig
I started to but I’ve lost the receipts.
The trouble is there are no others who are property investors live near by to chat about things, so it was good talking to like minded people.
Anyway I’m thinking of spending my tax refund next year and taking a trip to Australia.
I’ve got Alice Springs, Stawell and a place north of Sydney eyed up at the moment and maybe MacKay.
I’ve already booked accomodation.
Regards
hi muppet
it was truely great to meet you.
i’ve got a business plan for you, you set up accomodation for aussie investors and charge them for the accomodation and advice about NZ (which is excellent by the way).
or better still you could lock the doors and talk about how wonderful the “all blacks” are, us aussie would pay anthing to escape.thanks so much for arranging the fantastic accomodation and showing us some beautiful scenery in your part of the world.
regards westan
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