Cheaper Investment Properties in Auckland Region ?

[froob]

Hi All,

I'm looking to buy a cheaper investment property, such as a typical 3 bedroom house in the Auckland region.

Positive cashflow would be great, but I don't mind propping up the investment by $10-$50 per week (ie slightly negative cashflow).

Basically I'm wondering what areas of Auckland would have these properties?

I see Manurewa has some cheaper properties... I guess there are pockets of good areas within Manurewa that are worth considering? What are some other areas with cheaper properties?


I live in central Auckland and preferably don't want to drive much more than 1 to 1 and a half hours to look at potential houses.

I look forward to any suggestions.

Cheers,
Froob.

[muppet]

Hi Froob

Welcome to PropertyTalk.

For the Manuwera area give First National a ring and have a talk with Keith Dennis(Property Manager) on 09 267 2678.
He will give you the run down on the best areas to be looking at. (Most desireable area to rent in anyway).

Regards

[whitt]

Or ring Brenda and the girls @ Rental solutions on 267 8200 for what areas are good.

My summary of 3 price ranges of Manurewa:
High-I have found Hill park/ Totara Park/ Alfriston is slightly nicer and higher priced.
Middle-Streets surrounding South Mall are in good demand for renters.
Low-Clendon End of Manurewa is priced alot lower.

Make sure you have easy access to motorway links. Some roads get quite busy during peak.

Best bet for Positive cashflow is Middle to lower areas of Manurewa.

[casacamo]

Hmm.. difficult to find +ve cashflow in Auckland city.
you could try looking for the odd bargains in
Mt Wellington, Tamaki, Pt England,
I think Panmure & Mt Roskill will be more difficult.

South Auckland, Manurewa is a good choice,
also Papakura has some decent houses in nice streets.
You may get lucky and find a good house in mangere, Otahuhu,
or Otara, but finding quality tenants can be a problem.
Parts of Paptoetoe can also be good (perhaps a little pricer)

West Auckland, New Lynn (if you are lucky) Glen Eden,
Te Atatu South (could be a bit expsensive)
and of course Massey.

North Shore, Out of luck unless you find something in Glenfield/Birkdale

East Auckland, no hope - maybe near Ti Rakau rd (eastern motorway route)

Casacamo

[jadelotus]

Re: Cheaper Investment Properties in Auckland Region ?

[quote="froob"]

Positive cashflow would be great, but I don't mind propping up the investment by $10-$50 per week (ie slightly negative cashflow).

Hi Froob,
given the current state of the property cycle, does it really make sense to buy a negative cashflow property?

what with the prospect of higher interest rates, the government becoming half owners of properties for lower income family thereby diminishing the tenant pool, etc...