Forum Replies Created
Hi Nigel
You said:
Because if everyone buys there you can certainly artifically inflate the valuesThis can apply to anywhere in the country.
Regards
Hi Nigel
You said:
Remember it is possible to oversupply an area with investment properties.Interesting comment.
For there to be an oversupply of investment properties can arise when
1. the live-in owners sell to an investor and leave the district.
2. prospective tenants leave the district.
3. prospective tenants decide to move in with others.
4. lots of investment properties are being built.and probably there are many more reasons.
However in Tokoroa little if any houses are being built.
The cheese factory will be employing again shortly as the season gets under way.
The CHH mill is working at capacity.
There is a relatively high number of welfare beneficaries who find the cheaper living in Tokoroa of benefit.
A number of retired people are selling up in Auckland and Tauranga and buying more expensive property in Tokoroa and hence releasing the high equity that they held in their original property.
More people realising how central Tokoroa is to the rest of the North Island.Regards
Hi Rob and Jo
Have you done a search on http://www.propertytalk.co.nz as Tokoroa comes up reasonably frequently.
Location often dictates as to how fast a house rents out for.
Some streets are very slow to rent in. eg Marr Pl and other areas have waiting lists eg the Wai area or the North area.
For average rents in Tokoroa try this site:
http://www.dbh.govt.nz/housing/tenancy/Market-Rent/market%20rent%20detail.asp?Area=Waikato+%2D+South+Waikato+DistrictRegards
Hi Min
Well said.[baaa]
It is happening on all property forums where newbies come on and ask the same questions and wanting instant answers.
It took me nearly 12 months of research and self educating before I bought my first IP.
Regards
Hi bruham
As someone said in another thread a 20% gross yield in the USA is the same as a 10% gross yield in NZ because of a different tax system in the States.
And the 10% deals are still to be found in NZ.
Regards
Hi Guys
Piggy said
does Muppet also get one for promoting your service or is he a friendNo I don’t get a commission. I have no desire to invest in the USA. I am watching with amusement the amount of interest being shown in the American market.
However I have met Westan and respect his integrity in the services that he offers. Many Australians have bought properties through Westan’s services in various parts of New Zealand.
Piggy also said:
but I am very wary about who is offering services and what you get for your fee.Therefore I would also be wary of people who are also offering information voluntarily.
Both Quiggles and Westan have been to the USA and have found out how hard it is to set up their systems so it would make sense to pay them for their advice because they have been there and done it.
Mind you so has Steve. I can see a new book coming up sometime in the future.Happy investing guys
Regards
Hi Guys
Mabbot said:
It’s great that you’re able to help people find properties their but are you against offering anything for free.. like knowledge for beginners??Westan and his brother Alvin have spent more than twelve months setting up the systems to allow them to find property for prospective investors.
These investors haven’t got the time or the vast amounts of money required in making numerous trips back and forth between Australia and the USA.
If you source a property through Westan then you will have all your systems in place very quickly.You only have to read on the Somersoft Forum the very long sequence of events and frustrations Quiggles went through before he was able to settle on his first American property.
I suggest that you join Westan’s mailing list, buy a property sourced by Westan’s buyer’s agent, pay his finders fee and you will be making money far sooner than for you to start from scratch on your own spending time and money sourcing property and trying to set up your own systems.
Regards
Hi Guys
How many coming to Tokoroa?
Anybody want a conducted tour of Tokoroa?Regards
Hi Del
Matata, a little township of about 300, 24kms north along the coast from Whakatane was very severely hit by mudslides and floodwater today.
I think just about the whole town has been evacuated.
Flooding also in Edgecumbe which was hit last year as well.
Tauranga had a couple of days of very heavy rain. Several houses built too close to cliffs have fallen over. Quite a bit of flooding as well.
Probably several 10s of millions of damage throughout the area. Several approches to bridges have been washed out.
Regards
Hi Guys
Location rules supreme in Tokoroa.
Our tenants left one day and new ones were signed up next day at an increased rental of $25 per week.
Heard tell that there is a vacancy rate of between 130-150 properties. Harvey’s is the only agency who is posting their list in the window.
Don’t know exactly why the vacancy rate appears to be so high.[angry2]
Owner of house next to ours accepted an offer of $65k for his house but before it could be fully signed up a backup offer of $71k came in.
This was accepted and quess where the old owner is moving to, yep that is right, Australia. [biggrin]Regards
Hi NZWoody
You could also check out http://www.empowereducation.com as they have a couple of articles in their library about wrapping in NZ.
Regards
Hi Aptam
In answer to your question: YES.
Posted same question on PT and replies were all the same. Everyone is apparently having trouble accessing realenz this weekend.
Regards
Hi Guys
Mini said
I *finally* got to contract a great yielding property in a suburb of a town expected to double in population within 2 years. (yes I have that in writing, but it is not yet published yet – but it will be!)Wouldn’t be in the North Island would it Min?
Somewhere north of Taihape?
Regards
Hi Ayen
The web site you posted covers these towns
Cambridge, Edgecumbe, Huntly, Kawhia, Kihikihi, Mangakino, Matamata, Morrinsville, Ngaruawahia, Otorohanga, Paeroa, Pirongia, Putaruru, Raglan, Taupiri, Te Aroha, Te Awamutu, Te Kuiti, Tirau, Tokoroa and yes Tokoroa is listed.
However the average price shown in the graph is no reflection on the prices being obtained in Tokoroa especially for investment property.There is no web site that I know of giving up to date information on vacancy rates for towns as the situation can change very rapidly.
To obtain this information contact property managers in the respective towns you are interested in. There are three in Tokoroa.As regards rents being obtained for all areas of NZ try the KPI Magazine and the NZ Property Investor Magazine.
Also try this site:
http://www.dbh.govt.nz/housing/tenancy/Market-Rent/market%20rent%20region.asp
This site is updated about the middle of each month.Regards
Hi Guys
I am not selling any of my rentals. I am in for the long haul. Tokoroa is a very nice town and very central to much of the North Island.
The house next to one of our rentals was for sale for two weeks and sold for about $93k. We have just relet ours for $180/wk. The owner is renting his own house for $170/wk until he finds what he wants. The house was bought by a local as an investment.
There are a lot of empty houses about. Am not sure if this is abnormal or not.
Some flats that I mow lawns at are still empty after two and a half months. Some owners must be bleeding.
If 10 out of 25 came to Tokoroa that means that 40% of KA1 visited.
Harveys seem to have a lot of houses for sale but a large number of them are over $100k and thus gross yields are very low.
We have had our first frost for the season and the nights are becoming much cooler. Have had the heater on a few times now.
Regards
Hi Guys
Lots of houses are being readied for the next foray into Tokoroa.[biggrin]
Regards
Hi Guys
Had a chat with my favourite property manager Kathy at Harveys tonight./
Said she has let 12 houses in the last 2 days.
She let our house within 24 hours of us listing it with her and with a $25 per week increase in rent from $155 to %180 per week.
This shows that location is extremely important in Tokoroa.
What happened to our previous tenants, well they went and bought their own house also in excellent location.Regards
Hi Ozi
Perhaps you need new glasses.[biggrin]
Regards
Hi Guys
Now living in Tokoroa, central North Island, New Zealand.
Am now mowing a few lawns for some of the Aussies who have bought up much of the town and cleaning houses when the tenants have done a runner.Regards
