Investor, Buy and Hold, Rehabs · Wellington, Wellington · Member since 2016 · 44 posts · 27 votes
Let's get everyone who is a New Zealand based Real Estate / Property Investor to reply here, so we can try and form a group to share ideas both for investing locally and abroad. I know there are many of you out there, so put your name here!
Great idea I am based in Auckland and investing in the Far North. My most recent relocatable home arrived last week on the back of an existing rental so lots of work ahead getting it ready.
Hi guys. Ian here based in Auckland with a handful of properties in Auckland and one in central Wellington. Happy to join the conversation and share ideas, stories, contacts and help where I can with likeminded people.
Anybody got suggestions re marketing for outright sale or a JV of a 37,600 m2 green-fields reclamation development site in Port Vila, Vanuatu. Would really appreciate any help or ideas.
Kyle from down in Dunedin. We invest down here and in CHCH as well Central Otago a little and have our own Property management company and building company. We are on or have been on the boards of the Otago and National property investor associations and the national property managers association so if anyone needs any help call out as if we don't know we hopefully should know where or who to point you to for the answer?
Not NZ based however proud to call it home! Currently residing in Jacksonville Florida, Working on my 3rd investment property. Hot market here! I also have my Realtors licence if that helps anyone!
Thought I would introduce myself, my name is Tausani and I am 23 years old. A newbie to REI. I live in Auckland. I just signed up to BP earlier this week, and thanks to @Kevin Estey I have found this thread.
One of my goals is to purchase my 1st investment property in Feb 2017. I am still deciding on what Niche I would like to pursue with and what strategies I want to incorporate. I am leaning towards a buy & hold situation with Multifamily homes. So obviously before I can buy a property my main goal is to find a Mentor in Auckland.
So I was wondering if anyone has an idea if there are REI groups in Auckland that have meet ups? I would embrace the opportunity to network and find a Mentor.
Kevin, great idea. I see lots of people from North and South with different stories and plans. That's good. We're not all in Auckland searching the chaos for a bargain. I hear there are still some going but I'm yet to find.
@Andrew Fergus where in the north are you investing? Two houses one property?
I'm in north west of Auckland and know the area well. I can offer any local advice on pricing and which are good suburbs bad suburbs expecting growth etc.
I'm a new investor with business and marketing experience.
@David Sherar let's chat about some ideas re Vanuatu.
Finally this community seems to be helpful, which is good. I'll try to answer any questions people post here, if I have any advice!
Hi Tim I am investing in Kaikohe. I have a rental and another relocatable house just delivered on the back lawn. Also a couple of other sections waiting for their relocatable houses.
I have also just purchased a business in Waipapa (business area of Kerikeri) & have put an offer on 2ha of land 4km out of Kaikohe by the golf course. I have a house lined up that is to be removed from Takapuna (4 bed, 2 bath & 3 toilet) a lovely old villa with Kauri floors.
Still based in Auckland for a few weeks so happy to grab a coffee - flick me an email to setup a time
Tim, I now have an interested party who has put an offer in on my Vanuatu company which holds all my properties and the green-fields project. Keeping finger crossed that he gets his finance approved.
Chinese buyers are still pushing up prices. My wife and I went to Pukekohe yesterday for an auction, old house on 1472m2 land which had a QV value of $480k. We were prepared to go to $780k but it sold for $1 million. Reason - 2 Chinese bidding against each other. Back to the drawing board now.
Andrew, not sure which part of Auckland you're in but I would also love to catch up for a chat over a coffee before you head north. Sounds like you have a good handle on buying and moving relocatable houses. Would love to here how it works.
I've seen several references to "relocatable" homes in this thread. Can anyone explain? Basically the same as mobile homes in U.S.? thanks
Basically any house can be picked up and put on the back of a truck and relocated to a new location. Happens here in NZ a lot due to the cost of the land being higher than the existing house.
I purchase a 50yr + house for $30K and put it in a small rural town on a $35K piece of land, add all the connections and have it valued at $150K. The old houses I am looking at are solid wood and were built to last forever. Once you polish up the hard wood floors, fix up the bathroom and kitchen and give it a good paint it looks a million bucks.
The photo attached is of my two houses, one is just being finished with a paint and the other arriving on the back section. (Did not even have to pay for the land on this one as it came with the front house)
Re pukeohe and that scenario, it's happening nation wide. But you know that. A friend of mine has been to 30 auctions trying to get his first home. Each one he has not even had a chance to get a word in as it has been Chinese screaming at each other. They say things like whatever anyone else offers, I will beat it. And beat it they do as you know first hand.
Is this land for muskets all over again?!
@Andrew Fergus I've sent you a message, I drive past Henderson (sort of) to get to work so happy to catch up early this week. Building covenants or no:)
So we're in a boom in New Zealand and for investors, good yields are hard to find right? In Auckland, the media has been writing about soaring prices and reporting on people sleeping in their cars because homes (and rentals) are too expensive. For a lot of people they are. Yet prices are still going up. Government intervention to some capacity and banks analysing investors income/debt ratios has possibly slowed things down. On the other hand - high immigration levels, lack of housing and low interest rates starting to appear with 3's at the front are fuelling the growth. And growth in Auckland impacts most of New Zealand.
I've spoken with some smart people recently but no one has looked into the crystal ball and said, "this is when things are going to fall".
So what do you think? Will we see a substantial fall in Auckland Property? If so, when?
Great idea guys, I live and invest in Auckland, New Zealand but would like to invest in US , already looking at some turn key properties. But first I would like get my structures sorted to avoid double tax. Any help from fellow kiwis would be appreciated. Would love to catch up with any investor here in Auckland
I'm too green, especially with the states to offer much sorry. A quick forum search may help? People here tend to help and advise on the forums so hopefully you find what you're after.
Good luck!
Might be worth talking to someone like GRA or Withers Tsang as both of them are well regarded in the NZ property industry as being very sharp with regard to tax efficiency so they may know how to do the best thing for US-NZ ownerships?
Hey @Azam Khan, I agree with @Kyle Elmer as to speaking with GRA, as I have recently begun working with them on our NZ Estate Plan and Trust setup in anticipation of property trading we will begin in the next few months. They are very investor savvy, and could very likely hep advise you.
How is everyone finding the market now after the new LVR restrictions have come in? Are you seeing much decrease in interest at auctions or more room for negotiation?