OK… So i’ve got the cash ready to go for my first CF+ve and everyone says NZ is the go… But living in QLD Sunshine Coast how do I find out which NZ areas are good and bad?
A friend recently pointed me in the direction of Tokoroa and although the prices and pics on the web seemed good I had another friend tell that the area was bad and going nowhwere fast…
Can anyone in NZ offer me a list of towns that are still fairly priced and not slum city?
+ve CF is more important to me right now that CG.
Cheers, Nobleone[blink]
There are a lot of people are buying CF+ properties in QLD.
Why don’t you target that area first, for for your first IP???
Also I don’t think anyone going to write you a list of which town are profitable or not. Thats for you to reasearch. Contact Westan (he is on the forums) if you still want to buy in NZ.
Rgds.
Lucifer_auHi Nobleone,
I have some properties in NZ including Tokoroa.
I would strongly suggest to you, that if you are serious about investing in NZ, that you take a week off and go and visit the place yourself.
I would never advise any friends to buy sight unseen over there, without at least knowing the town.
Investing in NZ as an offshore investor also has a lot of complex taxation issues, which I won’t go into here. I suggest that you speak to a good accountant before you take any action.
I am planning another trip to NZ in a week or so and I’d be happy to check on a property for you, if I am nearby, however, I suggest that you put in some work first.
If you are only looking for 1 or 2 IP’s then I’d suggest that investing in NZ is probably not worth bothering about.
Perhaps use the search function and enter “NZ towns”. There has been LOADS of discussion in the past about areas, including Tokoroa.
Good luck with it, NZ can be very worthwhile…[evo]
Regards,
Del
Im not an expert at this but I do suggest talking to Westan – send him an email or PM him – he’s currently up North looking at some deals…he’s the man that can personally help you…
Kind Regards,
George.“If You never never ask, you’ll never never know”
Hi NobleOne
Try and get hold of the KPI magazine. It often has articles telling everyone which areas of NZ have the best Capital Growth etc.
The March issue had a list of the top 100 suburbs for 2003.
For example Cook-Old County in the Gisborne District had growth of 229% for 2003.
Wingate/Gracefield in Hutt City had growth of 208%.
Himitangi in the Manawatu district had growth of 100%.Tokoroa didn’t figure in the top 100.
The April issue had the top 100 cashflow suburbs for 2003.
Tokoroa was second at an estimated 11.47%These lists should give you some ideas omn where to look.
Regards
Hey Muppet – do you know if we can buy the KPI magazine from Aus land.
“If You never never ask, you’ll never never know”
Hi Geo
Check out:
http:/www.kpimagazine.co.nzRegards
thanks Muppet…
“If You never never ask, you’ll never never know”
“I had another friend tell that the area was bad and going nowhwere fast”
Hmmm, yeah, it’s all relative and depends who you talk to. One person will say, Tokoroa is fabulous, it’s the 2nd top cashflow town in NZ,
it’s booming, RE agents are run off their feet, there are and traditionally always have been lots of renters, you can buy properties there yielding 17-18 percent for under 70k, complete with government guaranteed rent paid tenants, it’s only about 80K from Hamilton, one of the biggest and fastest growing cities in NZ, prices are cheap right now because the mill closed, you can get some of the best value ‘house for your money’ in all of NZ in terms of quality of dwelling for the price, it’s large enough at 14500 to survive the odd lay off here and there, blah blah blah….or, you can say ‘the area is bad and going nowhere fast ‘ from the point of view of, I’m not a cashflow investor, I wouldn’t live there, so I don’t get it.
different strokes for different folks.
Yep, a KPI magazine subscription is essential as far as I am concerned!joy to the world
Listen to Mini – she knows !
Hi Guys
Mini said
prices are cheap right now because the mill closed,To elaborate on this statement CHH Tokoroa’s biggest employer owned a saw mill which closed at Xmas because it was inefficient to run. Approx 100 people lost their jobs. Some have found employment in the immediate area and are still living in Tokoroa.Others have moved.
CHH also have a pulp and paper mill on which they spent $380m in tha last few years upgrading it.This mill employs about 300 people and a large group of workers are dependent on it.
As far as I know there are no plans to close it. It is one of the more efficient mills that International Papers operates.I also have properties in Tokoroa and I am more than happy with my tenants.
Regards
NZ is a great place to invest in. I have spread my property purchases over a few locations – some arguments against this approach I am sure, but I feel comfortable having my eggs in different baskets if you like.
As others have said in this thread, its really what level of risk and involvment you wish to take on – I live in QLD as well, but I am more comfortable buying in NZ, than in way outback small QLD towns with little in the way of supporting infrastructure. Others here are finding good cashflow in QLD in bigger towns.
I have worked out a way to get +cf in Brisbane, but lack the funds to lend to purchase such a big investment outlay at present – I am working on it though!!!
As with any area, NZ will have rubbish and good buys. It’s your research and due diligence that helps filter this out a little to minimise risk by increasing knowledge – after that you will be in the same boat as other investors – waiting to see where your future takes you!!
I like NZ, good cf+ opportunities in good strong little towns. Why not??
Cheers
CDCastleDreamer
henry, not too late!!!!
not at all!
joy to the world
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