Hi
I am looking to buy in Tokoroa has anyone got any properties here?Does anyone know anything about this place?So far I have found out the pop is declining due to a timber mill closure but may reopen.If anyone has any info would love to hear aboutit.
thanks phil[^]“there is a solution to every problem you just have to find it”
Hi Philip
i can’t help but there are many here who can, half of Tokoroa is owned by people on this forum.[
]Philip i think you and i are about the only ones who don’t own there.
regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
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 Philip,
Although I don’t have property there myself yet, the prices are a bit higher than where I’ve been finding deals, I am negotiating a deal there myself at the moment, actually.
What are the yields that you’ve found there out of interest?
PM me if you want. I’m working on paying 1999 RV prices today (there has been growth since then) to mitigate the risk of the value perhaps going down if the mill stuff happens.
I guess that means I’m buying under value, in some sense.
I think long term the town will be just fine, it’s not that small, 15000 or so, and it’s close 60-100k to Hamilton, Rotorua and Taupo. Also the waikato district is booming well. Hamilton is to Auckland what Newcastle is to Sydney.cheers-
miniHi Philip
i think there are lots of better places to park your money in the NZ market ahead of Tokoroa, but then again i haven’t been there.
There are lots of good news stories in NZ sadly Tok isn’t one of them.
regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
hi phlip1
I think westan right
there are other areas in NZ
that look better
I am one of the members that dont own in
Tokoroa
but if the numbers are good and you have a
tenent?
recovery“I should be content to look at a mountain for what it is and not as a comment on my life” D. Ignatow
Thanks everyone will take it all into consideration.
regards philHi Philip,
I have 4 prop’s there. They are doing well, and have a combined return of about 18% gross, which is not too bad!
I have no problem with the properties that I picked up, as I got them at a Mortgagee Auction, and I managed to buy them quite under market value. They are all in reasonable condition.
I would never advise anyone against investing in Tok, however, I’d never like to buy there without seeing the town, and getting to know the agents there. Buying properties there sight unseen could be very dangerous! I decided to go to NZ and stayed a few days in Tok, to get a real feel for the town. There is a town close by called Mangakino though, which I would definately advise people against. It is a ghetto.[:0]
Although the Mill has closed down, I don’t think it will make much impact on my type of houses, as most of mine I imagine are tenanted by people on welfare of some sort. The population is about 15,000 and most of them didn’t work at the mill!
Good luck,
Del
good point del – I mean about 15000 people most of them not working at the mill!!
I’m looking at some deals there myself at the moment.
trying to figure out if 12.8 percent return is good enough for clients or not to botherAlready negotiated the vendor down a bit
there’s one I can probably get for 13.5 percent though
cheers-
miniHi Guys
Why the hell would anyone want to invest in Tokoroa for.
Well, why does anyone want to invest in Marton, Wairoa, Taumarunui, and a dozen other places that Australians and New Zealanders are investing in. Most small towns in New Zealand according to statistic gathered by the Government, are showing a trend for the next 20 years of dropping population.
Some people don’t want to move from the area they have grown up in. Rentals in these areas show good yields, much better than what the cities show. Little capital growth though.
Why is the Minister if Education travelling around NZ telling communities why he is shutting schools? To date this year, 90 mainly country schools are scheduled to close at the end of the year.
Eleven areas are earmarked for network reviews with Invercargill probably the biggest town to get a shakeup.
So why is the Minister doing this? Because census figures show that there are too many empty classrooms in these areas because of declining roll numbers and this is because alot of people have moved away from these areas.
Money saved will be ploughed back into the schools that remain.
Areas include Upper Hutt in Wellington, Wairoa area, South Canterbury, Invercargill, Grey River area, Bay of Islands.
Oh well, there are other towns.
And also bigger is better. The government finds it easier to control people in big centres. In other words the Labour Government is practising a form of social engineering.
Regards
Hi Guys
Further to my previous post, a draft list of Dole No-Go Areas was released by the Govn in Jan.
They are as follows:
The “dead” zones – the draft listNORTHLAND: Cape Reinga, North Cape, Reef Point, Spirits Bay.
COROMANDEL: Kennedy’s Bay
WAIKATO: Kaiaua, Waikaretu, Port Waikato, Tokoroa.
BAY OF PLENTY: Mourea, Horohoro, Gisborne Point, Broadlands, Tikitere, Reporoa, Rerewhakaaitu, Okere, Te Kaha, Kutarere, Opape, Takaputahi, Whitikau.
CENTRAL NORTH ISLAND: Ohura, Ongarue, Waimiha, Matiere, Pipiriki, Tatu, Tokirima.
TARANAKI: Aria, Te Wera, Tahora, Kohuratahi, Douglas, Mangamingi.
WANGANUI: Mangamahu, Kakatahi, Whanganui River, Jerusalem, Koriniki, Matahiwi, Pungarehu.
RANGITIKEI: Makohine Valley, Matatoa, Omatane, Poukiorie, Pukeokahu, Putorino.
WAIRARAPA: Tinui, Pirinoa, Woodside, Blairlogie, Cape Paliser, Ngawi, Tora.
UPPER SOUTH ISLAND: Golden Bay, Murchison.
MARLBOROUGH: Ward, Kekerengu, Canvastown, Anakiwa, Clarence, East Bay, French Pass, Kenepuru Sound, Lochmara Bay, Nydia Bay, Queen Charlotte Sound.
CANTERBURY: Le Bons Bay, Okains Bay, Little Akaloa.
WEST COAST: Ngakawau, Millerton, Denniston, Market Cross, Barrytown, Blackball, Jackson’s Bay, Haast, Whataroa, Harihari, Pukekura, Ross, Jacksons, Aickens, Otira, Ahaura, Ngahere, Bell Hill, Rotomanu, Totara Flat.
SOUTHLAND: Tuatapere, Ohai, Nightcaps, Blackmount, Colac Bay, Orepuki.
The Governmet is targetting the unemployed in these areas. Also unemployed people are not being encouraged to go and live in these areas or else they will loose their dole.
Notice that Tokoroa is the largest town listed although it has the right of appeal to be taken off the list.
Happy map searching
Regards
Hi Guys
If there is a sudden influx of NZers fleeing Australia because they don’t want to become Austalian citizens then the likes of Tokoroa, Taumarunui, Taihape, Te Awamutu, Taupo, Tauranga, Wairoa, Whakamaru and all those other places will suffer from an influx of new residents wanting some place to live.
Yeha!!Regards
Wow Muppet, you guys sure have weird and wonderful place names! There’s no way I would know how to pronounce 25% of that list. Esp with your funny Wh ones.
Cheers
MelHi Muppet good to see you helping members out with all the research and local knowledge you do and have of new zealand . I for one find it very helpful and hope to see you keep it coming as it is very much appreciated. [^]
Regards Risky
Hi Risky
Thanks for the wrap/rap.
If you use the search function you should find a very large number of things about NZ that were locked up when PI was upgraded.
There were a couple of very active forums where Mini and others put in a lot about NZ.
What Westan says is partly true. Alot of properties are owned by Aussies in Tokoroa. We have two.
Bought last year in Oct/Nov. Cost 75k and 55k and rented for 155 and 140. We will probably move into one of them come next year.Regards
Hi Phil
Try
http://www.propertytalk.co.nz/modules.php?name=Forums
http://www.propertytalk.co.nz/modules.php?name=Forums&file=viewtopic&t=241
http://xtabs.stats.govt.nz/eng/statsbyarea/area_urban.asp
The first site is Propertytalk’s forum page.
The second is a long list of web sites for doing due diligence.
The third site gives a long list of towns and cities of NZ and a list of facts and figures about each.Good luck with your searching.
Regards
Muppet why would there be a sudden influx of NZ moving back from Oz?.
The fact that people on the dole are being discouraged from living in these towns is good?, I would have thought it`s a death sentence for that type of place.
How much is 18% of nothing when there are no tenants in a yr or two and you can`t sell?.
Muppets your posts seems to be a bit contradictory, you seem to be pushing buying in these areas but say the schools are closing down?.
Sorry guys to sound negative but this whole NZ investing line reeks of herd mentality, in fact after all I`ve read I`m totally in disbelief that at this point in the market you guys would buy there for any price.[?]
In all boom and bust cycles you have casualties and this whole idea appears to me to be a perfect example of how you can lose so much money so quick it makes your head spin and leave you wondering why on earth you didn`t see it.[]
Hope I`m wrong.[]Hi mark
rather than righting off nz because it appears too hot i advise people to be careful. Because many investors are paying what i think is too much for properties (hey its happening worse in OZ)
i think when buying in a market when you can’t see what is happening (ie new Zealand) it is very importants to really do your homework. some area of NZ are best avoided and (as i’ve said) tokoroa maybe one of these areas(but i’ve nevber been to tok). But i know people (experienced investors) who went to NZ to invest thinking negative about Tok who came away from there more than happy to invest there.
Muppet isn’t saying to buy in the areas that school are closing, most of them are tiny little communities with a handfull of kids.
mark there are some great places to buy. One of my favourite areas is a place where 6 hydro stations will be built in the next few years creating over 500 jobs for the next 8 years and this is just the start of it for this area. You are right the NZ market has risen strongly and areas like Auckland inner city units should be avoided according to the market watchers in NZ (aucklands not my area of knowledge).
But other growing cities like Invercargill and Dunedin are also promising capital growth and good returns and have created there own niche market with student accomodation, causing a shortage of rentals and rising rental returns. I should declare my interest and say i’m buying for myself in these markets and finding homes for others.
regards westanI find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
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