I am an Aussie investor, who will be heading to NZ next week (for the first time) and will start in Hamilton with a couple of meetings. Does anyone have any ideas as the best places to look seriously for some good deals. I have an agent lined up for some places in Tokoroa already but am starting to get a little stressed out with the news about the mill.
I only have 4 days in NZ and if anyone would like to meet to discuss possible deals or JV’s, would be more than happy to do so.
Love to hear from you.
LukeHi Luke
Please note that the biggest mill in Tokoroa that employs about 950 workers is not closing.
However another of CHH’s mill(the plywood mill) has closed one shift with the loss of 40 jobs. Some of these workers will be leaving Tokoroa and moving to Australia. There will still be 200 other workers continuing with the other shifts.
And yet another CHH mill – a remanufacturing mill is closing and being relocated in Rotorua.
These changes have come about because of the housing down turn in Australia.
If you want a chat, send me a PM and we could set up a meeting.
Regards
Join us at http://www.propertytalk.com
hi LukeNeale
not sure of the market but if you find commercial in high growth with neg return in the $500,000.00 mark get the details and let me knowhere to help
Seems everyone starts in Tokoroa! You know I personally think the returns are better in Invercargill and there is less risk involved as there is no reliance on a single company. Invercargill has shown slow but steady grown and still has reasonable returns.
Cymber
Thanks cymber,
I am here at the moment in NZ and have decidied against Tokoroa. There are some great deals in other cities, namely Hawera, Hamilton and Wellington. I dont have time this time to go to the south Island, but I heard Invercargill was great also.
LukeLuke,
Hawera would be interesting I was reading one of the other forums recently that suggested there are good developments taking place there.
I hope your trip was successful!
Cymber
Cymber
Just moved house so havent been on for a while. Trip was very successful, will go back in a couple of weeks no doubt!
Cheers
LukeHi Luke,
So did you buy IP’s on the lastest trip. If you decide to fly freedom for the next trip lets hope they get the new air buses up and running on the sydney dunedin route. Those 737 400’s are very squeezy!
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NZ Investors & Property Spotters
Renovations & Project Management
Email now to receive info on the lastest deals!Don Nicolussi | Mortgage Broker - Home Loan Warehouse
http://homeloanwarehouse.com.au
Email Me | Phone Me"I think of finance as a technology, a way of getting things done." Robert Shiller
Don & Liz,
Made an offer on a 10 room boarding house, returning 11%. Needs some work and this can be increase to over 15%. Am waiting on reply from vendor as there are quite a few ‘fun’ clauses in the offer. Will probably have to go back to Hamilton if offer is accepted as Im trying to nail down 80% finance which isn’t easy considering the nature of the property.
Am planning a trip to the south Island near the end of November. Maybe we can catch up for a coffee and share some ideas.
Let me know if you hear of any other good deals and I apprecaite your responsesLuke
Hi Luke,
Get some accounting advice regarding 80% LVR, I was told there were some tax issues with non-residents getting more than 75% LVR so I did 70% LVR on my NZ IPs
Good Luck
Cheers
GlennRight Choice Investments
Will Do!
[email protected]
NZ Investors & Property Spotters
Renovations & Project Management
Email now to receive info on the lastest deals!Don Nicolussi | Mortgage Broker - Home Loan Warehouse
http://homeloanwarehouse.com.au
Email Me | Phone Me"I think of finance as a technology, a way of getting things done." Robert Shiller
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