I have looked at house prices around different parts of NZ and in cities It’s hard to find houses that are as cheap as the ones steve first purchased $45,000. They are all round 200,000 mark and for that to be a positive cash flow the rents would be huge? Too high for the area anyway.
I can see how the wraps would work well but the buy and hold technique im not so sure.
Ed.
Hi Ed
what you are thinking is correct the prices have moved up significantly in NZ since 2003 when Steve and others were buying in NZ.
But properties have not moved as much as from 45K to 200K. but certainly doubled in many centers.
Many of us who were buying in NZ in 2003 have now sold out because of the growth.
I suggest if you want to buy in NZ do two things
1. Read the posts on this forum under “overseas investing”2. if you want to buy, use Minimoul, a regular on this forum although absent for a long time. Mini knows where to buy in NZ and what price to pay.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.au
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