Hi guys
a few on the forum have been investing in NZ long enough to have made some tidy profits. I thought i’d statrt this thread so we can hear some of them.
Here’s one of mine
I bought a house in Dunedin (St Kilda) in 2004 for 62K, it had been on the market for ages and no offers , so i picked it up at a good price. I got a team of guys to go in and fix it up. It was major job and cost me 25K. Total cost 87K i then rented it out at $220 pw. Recently i decided to sell it (to invest elsewhere)and did so at 161K, nice profit for 12 months. After agent fees legal etc i expect a profit of about 67k. Rememeber that tax free as i’m a NZ tax resident!love to hear some of your stories.
regards westan
http://www.nzpropertytogo.com
check it out !
Properties in the USA 15-25% returns- email to join our database [email protected]Okay a kiwi success story.
This is a recent one and worthy of mention as it proves there are still good property purchases to be made in NZ.
Purchased +ve cash flow property in south Island January this year for $63k, rent $130.00 per wk. Two weeks ago flow over for 8 days reno job and after spending $3k (including my travel costs) had it revalued at $89k (35% increase) and now have tenant in place for $160.00 per wk (23% increase).
Although not the same level as Westan’s stunning figures, thought these to be pretty good considering only purchased just over 6 months ago.
Cheers,
GeoffB
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