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  1. #1

    Default Tokoroa investment

    Hi there, does anyone know whether it's worth buying in Tokoroa? House prices down there are rather obtainable for first time home buyers. However I'm not planning on living there, just wondering whether it's worth buying an investment home there?

    Thankyou for your thoughts..

  2. #2
    Join Date
    Jan 2016
    Location
    North shore, Auckland
    Posts
    278

    Default

    • There are 294 occupied dwellings and 54 unoccupied dwellings in Tokoroa Central.
    • For South Waikato District as a whole, there are 8,457 occupied dwellings and 1,032 unoccupied dwellings.
    • There are 3 dwellings under construction in Tokoroa Central, and 39 under construction in South Waikato District.

    Taken from stats.co.nz... don't know if this will provide some insight. It was also mentioned earlier today that the population in Tokoroa is decreasing a thread or two down. I'm still look for up to date figures on this.

  3. #3

    Default

    Run forest run!

    Word to the wise, don't bother looking there.

    FH
    "Remember, people will judge you by your actions,not your intentions.You may have a heart of gold -but so does a hard-boiled egg".

  4. #4
    Join Date
    Sep 2003
    Location
    High up above and deep down under
    Posts
    10,915

    Default

    Well, Pizza Hut have just opened a fast food outlet.
    Lincoln Transport have built a new rail siding to provide for container traffic.
    Fonterra are spending $250m building a new milk powder plant at Lichfield.
    And you don't spend 2hours a day travelling back and forth to work.
    80kms to Hamilton.
    75kms to Tauranga.
    53kms to Rotorua.
    65kms to Taupo.
    And once the new bypass around Huntly is built then only about 21/2hrs to Auckland.
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

  5. #5

    Default

    We have a really, really cool bloke operating as a property finder in Tokoroa. He can fill you in on it a bit. His wife runs a PM company so working together they've been great for our clients who prefer lower cost but high CF properties - here are his details if you'd like to talk to someone who actively invests there http://www.ifindproperty.co.nz/about...wayne-dickson/ Bear in mind that he is a raging optimist and is very passionate about the community so you will want to get a few other opinions.

    I've invested in a couple of cheaper towns in NZ and here's what I've found:
    - Speak to a good PM before you invest, always. Ask about turnaround time between tenants. Buy in areas they recommend, always.
    - Rates & insurance take more weeks rent to pay typically.
    - You should be able to get equity when you buy (maybe via a reno) so you can refinance out your deposit.
    - Maintenance costs similar in small towns and big cities unfortunately.
    - Don't expect much capital growth but do expect good cashflow and the ability to create equity and the ability to recycle your deposit
    - Have a plan. Buying well in Tokoroa means next you can do ____?
    Free online Property Investment Course from iFindProperty, a residential investment property agency.

  6. #6
    Join Date
    Jan 2016
    Location
    North shore, Auckland
    Posts
    278

    Default

    Good points there, cheers for sharing Nick.

  7. #7

    Default

    Thanks Nick, appreciate it.

  8. #8
    Join Date
    Oct 2015
    Location
    Rotorua
    Posts
    476

    Default

    The main issue with small towns as I see it there're 1-3 main employers. If 1 pulls out to cut costs or something - half of population will move to somewhere else. What would you do then?

  9. #9

    Default

    Agree, Kawerau comes to mind! And look at what happened tp that place.

    FH
    "Remember, people will judge you by your actions,not your intentions.You may have a heart of gold -but so does a hard-boiled egg".

  10. #10
    Join Date
    Mar 2008
    Posts
    933

    Default

    Ah Tokoroa .. Pop around 19,000 in the eighties .. Has declined steadily since..

    1996: 15,528

    2001: 14,443

    2006: 13,524

    2013: 12,714


    Notice any pattern?

    What makes it worse is that the 6,000 odd that left were the well paid workers (and their families) . If I were investing in Tok (and I am certainly not) I would buy flats not houses.


 

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