Where to Invest in NZ

[mahsud82]

Hi All,

I have ~200K for a deposit, and looking to get a loan of 250 to 300K max to buy a stand alone house 450 to 500K max as an investment property. I am confused which place will be better to buy in terms of:
1) Capital Gains
2) Rent and Tenants
3) Good Property managers ( as I am overseas and will need a property manager to manage property.

Do I need a buyer agent or will I be able to manage the selling process from overseas. Anytips.

The goal is to have positive cash flow or at minimum neutral cash flow and pay back the loan of 250K to 300K in 2 to 3 years.

[donna]

Have you used trademe.co.nz to search for properties in your price range? This would be a good place to start so you know the type of property and location- at a guess $500K would fetch a small apartment or homes outside of main centres in need of renovation.

For example there was a newish 40sqm 1 bed in haitaitai (good area of Wellington) going for just less than 400K.

regards

Donna

[mahsud82]

Hi Donna, Thanks for the reply. I have search on trademe.co.nz. Based on my budget of 500 to 450K for IP (Can't spend extra on renovation), there are stand alone houses in outside the main centers of :
1) Christchurch
2) New Plymouth
3) Whakatane
4)Gisbone
5) Whanganui.


I am assessing which would be a better place to buy in the above list. Target is Standalone house, not in need of renovation, can be away from main city centers, potential for 80 to 90% tenancy minimum.

[donna]

Can’t imagine a house in ChCh for that low amount without it needing work.

cheers

Donna

[primal]

Thought's on Opotiki

[OnTheMove]

I presume you have looked at the under valued charts and commentary? That will give you a starting point of where should move next. Of course anybodys comments and recommendations are subject to the usual caveat that nobody is a crystal all reader. it takes Research analysis and a pinch of luck that things will start moving.

Your Cash injection will dictate which of those you can afford should the markets move obviously.