- muppetMember@muppetJoin Date: 2003Post Count: 900
No. Plenty of room for both of you. It will be good to talk to someone with like ideas on investing.
Remember that week you will be in NZ is the first week of the Sept holidays so there will be alot of children around the place.
My email address is [email protected] if you want to contact me.
BobRodCMember@rodcJoin Date: 2002Post Count: 335
I haven’t booked yet, but I’ll probably organize it so that I’m not away during the Vic school holidays. I’ll let you know.
Do you have a recommendation for an accountant in that part of NZ?
Rod.QueenBeeMember@queenbeeJoin Date: 2003Post Count: 12
thanks for the tassie article, just read it, i even learnt some new vocab, ie “cruelled the game”..yee gads!!
i’m new to pi, so i’m trying to learn as much as poss…i try to balance my excitement at doing PI with some of the realities of pi and these articles help.
OK I read the article (about nZ)
and here is my ‘rebuttal’…hehe
> A house sale in Wanaka was in the news recently. The >owners bought it in 1968
> for $7,500 and sold it for $820,000.
that’s be about right for Paddington, Sydney, too though eh???
> e? It’s not as amazing as it seems.
The media are not as smart as they seem!!!!
> It works out an annual rate of 14.4 per cent, which is high >but not
Hang on – that’s totally not taking into account that there’s a bucket load of equity to play with that you could use /could have used – to purchase further investments, which would also go up in value…if you’d started doing that way back you could have got a few more properties for $$ now worth $$$$$ – add rent into that…subtract depreciation and other written off expenses….no cap gains tax in NZ either…. and would you have made that with any other investment? if so, let me know. !!
> e? It could give readers false hopes.
The media could be giving readers false fears.
Wanaka – Queenstown -aaargh!!! Dreamy Places. See Lord of the Rings – Wherever you see mountains and rivers, it’s all that neck of the woods.
Hi mini and all
To add to your comments. The writer says the property returned 14.4% “which is high but not astounding.” Give me 14.5% on an investment anyday. It is outstanding! 10% return would be worth only $240,000 and at 10% in the future wouldn’t be worth $820,000 till about 2017. By this time a 14.4% return would be worth $6.5 million. Simple maths “compounding interest at 14.4% your money doubles every 5 years the “rule of 72”. Once again a reporter who doesn’t understand investing or maths.
Hey Mini are you on commission with the NZ tourist dept? You can’t help telling us how Beautiful you Home is. No arguments from me, and i hear they aren’t bad at that rubgy thing.
regards westanrecoverymanMember@recoverymanJoin Date: 2003Post Count: 122
it is great reading all this info. i have trouble getting to the next stage of reply.
I am going over to nz next week, just getting into a car and driving from wellington north
there seems to be so many good spots, I thought I will go on the feel of the towns and what comes along.
I would like to thank all of you for all the help that I found on theis fourm
I will give a report upon return such as were I went and who was the most helpfull etc
congratultion westan for getting to 100 I am sure it would be long before you get that in PI
this forum have given me some ideas I will try a vist most of the towns talked about here
by the looks of the net I can go to any town and find some good postive casshflow PI
I will find out soon
recoverycurtlyParticipant@curtlyJoin Date: 2003Post Count: 2
i’m going back to NZ in sept (we need to sort out where we are going to live etc for next year). i will also look at buying some more properties. a friend who is a Kiwi from the North Isand suggested i look at areas such at Wairoa, Hawera (near where you have been buying i think) and also Tokoroa and Huntley. What can you tell me, is there anything special about these areas or are there many places that a just as good?
Your friend may have better insight than me with regards to a few towns you just mentioned, but here is my observation.
Tokoroa is a dump. My folks lived there for 2 1/2 years (purely for business interests), and ever since they have been there, more and more workers are being laid off. Forestry related employment is the key driver of the town, and CHH are continuously laying off employees. You just need to walk through the town and look at the number of vacant shops to see my point.
Huntly is much the same, with similar demographics. It seems that the lack of leadership and foresight in local councils is hurting these once booming economies.
Hawera as I understand has quite a boyant economy, with a strong dairy industry, led by Kiwi Dairy Co-op.
Other areas were I am currently looking are New Plymouth and Te Awamutu. New Plymouth has had a recent economic boom, with foreign investment and overseas projects contributing. I recently spent a few days down there and saw the massive increase in CV’s. Maybe too overpriced in my opinion. A major employer, Methanex, is set too close in a couple of years.
Te Awamutu is a strong dairy farming community. There is big shortage of rental properties. I enquired about a rental there a month ago, and there was only 4-5 2 bedroom, and one 3 bedroom rental available (between 5 RE agents). Not sure on capital growth in this area, but CF properties with low vacancies would be a sure thing.
have a great trip and happy hunting.
thanks for your post, it’s one thing to have cash positive properties but the key to real wealth is adding capital growth. your comments about the local economies is great. but sometimes buying at the bottom can be the key. by luck i bought 2 properties in the latrobe valley in Victoria 6 yrs ago (it was the bottom of these area, high unemployment etc). paid 28k for them today they are worth 85k . But if we can find areas that are going to experience economic growth the prices and rental incomes will rise. i’ve found this area in NZ that will boom soon i feel but i cannot mention it because i want to get more there myself, sorry guys. i’m sure there are many areas like this in NZ. lets keep these post going this is fantastic. I’m saving all these comments for later reference.
>Hey Mini are you on commission with the NZ tourist dept?
>You can’t help telling us how Beautiful you Home is.
I was just really filling in people here about what Wanaka is and why it’s a place that costs big bucks to buy now
>No arguments from me, and i hear they aren’t bad at that >rubgy thing.
I’m soooo out of the loop in regard to how NZ is doing in sports these days. However I live in a cricket-mad house so I’m kinda down with that in a disinterested girl kinda way…
Westan – well when you’ve bought up what you want *then* tell the forum where it is, cause then it really will boom, hehe!!!
PS Recovery, have a great time and good luck!!davo70Member@davo70Join Date: 2003Post Count: 56
I have done some research and found that the properties in the Wairoa area near Napier and Hastings seem well priced. Does anyone know much more about these areas. Economy seems strong, unemployment not too high (higher than Aust but no bad for NZ).
Just after some opinions from our Kiwi friends.
It would be worth finding out because the prices are fantastic and there are heaps of them, which in itself is a worry (but then again Morwell and Moe had heaps of properties at 20-30K six years ago today they are 80-90K). see what you guys can find out i’ll ring some agents on Saturday Morning.
Can`t believe how much has gone on in the last 2 weeks. You have all posted some really good research for the NZ connections.I have not been on the site for two weeks due to work & a child in hospital but boy have i ever enjoyed reading all this tonight. Weston , as it happens, we have booked our flights to Auckland also( one week ago ). Would you & maybe Muppett & Tamara like to all catch up while we are there as well?? I know we would all talk non stop about NZ investing the whole time. We to have been doing some research for the North.We are travelling around most of the island to get a feel for the towns we are interested in.Short list of about 20!!!!
I have a question for someone? I think we should use equity from our LOC over here in Oz. My husband wants to set up an LOC in NZ (at the moment is looking into ANZ) Any comments as to how you have all done it.Tried the accountant & he`s away till Sept!!!
Minimogul,Tamara, Davo & recoveryman ,Rod c thanks for all the info on your posts i really appreciate all your frank comments. I hope after my trip i might be able to give some good info back to you as well. I`ll be pretty tired when we get home.
[xx(][xx(][xx(]Well, i`ll await your replys .
Thanks again everyone.
great idea let do it (catch up in NZ) we just need to work the logistics.
Glad you`re still online. I`m soooo excited about our trip. Will have to talk as you say to work out a time & date & place. Can`t wait. I have just acquired a provincial towns UBD to help us locate our key areas. Do you have a short list like mine??? 20 towns???ridiculous isn`t it. We are not interested in the lower end of the market probably from 60k to 120k for us. Have some NZ friends over here that have been telling us about certain towns etc.
Will wait & see if any one else replys to our little get together O.S. Email me your email adress when you get a chance.
Cheers DiamondRodCMember@rodcJoin Date: 2002Post Count: 335
Good on you. I’m still working on my short list of towns! I’ve been busy researching the ins and outs of setting up a trust in NZ.
I suspect I’ll be over there at a different time to the rest of you but I might try to catch up with muppet. If that’s ok with you muppet?
I’d like to catch up with you before you go if possible. You’ve got my email address.
Rod.muppetMember@muppetJoin Date: 2003Post Count: 900
Yeap be real neat to meet you all. School holidays start on the 20 Sept so I will be on holiday for two weeks and will be able to meet you all.I live between Taumarunui and Te Kuiti at a place called Waimiha. We have a few spare beds if needed.
Wairoa boasts a freezing works and services a large farming area. It is situated about 117kms from Napier and 100kms from Gisborne. I lived near there a few years ago.
Don’t forget Dannevirke. I see Richmastery have just listed a place there.
I am off to a town starting with T, tomorrow. The bank has given me prior approval for $150 so I’ll be looking in earnest now.
Fixed interest rates have gone up again damn it. I’ll have to rework my figures again.
Shame you won`t be there the same time Rod. I think it will be a hoot!!We are still trying to work out which way to set up the LOC. In oz or in NZ. Think we will investigate BNZ come Monday.What advantage do you get out of setting up a trust over there???
MUPPET, thanks for the reply to our little O.S get together. Will be real nice to meet you all face to face & share stories. Thanks for the offer of the beds. Might just take you up on that. Email (my adress is about 4 posts back) me so we can exchange phone numbers etc. Have just got off the phone to Westan.HI WESTAN
You`re a school teacher i take it? Thanks for the tip about school Holidays. Can you suggest a reasonable accomodation chain?? We are not prebooking anywhere so we are free to stay look & buy wherever we want.I`ll have to look up where you live over the weekend. Thanks for all your assistance. Good luck with your house hunting. Catch a big oneCan you tell me how much ahead of our time you are so i can ring some of your contacts you gave us. I thought it was about 3 hrs??
Yes Mini i knew you ARE working for tourism NZ
Diamond NZ is 2 hrs ahead of us, but about 10 yrs behind
we have mentioned before how it would be good to catch up, You said maybe NZ (on another post)
how about this
“Air New Zealand’s transtasman fares are tipped to be slashed before the end of the month, prompting predictions of a price war among the increasing number of competing airlines. Airline sources’ estimates vary on prices of the one-way Air New Zealand fares, ranging from $50 to $200 a ticket.”
I know Diamond would also like to catch up with you why not fly over and meet us (we will both be in NZ in Sept about the 25Th-28th. I know it might be hard to organise but reading the above article in the Otago paper got me thinking (which is an achievement for an Aussie male). i’m trying to make up for those comments about you working for tourism and the 10 yrs behind.
well i’m off to bed it’s nearly sux o’clock i have to get up and put on my jandells and do some work on a wee Crib i own. i won’t drive to fast over the “judder bars.” i’m in trouble if my wife reads these stupid comments she won’t give me Fush un Chups tomorrow.
night all westan
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