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Dough Boy
17-06-2005, 07:27 PM
Like to know if anyone else on forum has invested in Mangakino and their thoughts or ideas on this area.

Bought a double section on lake road last year for $34K current QV is $40K.

Reasons:

Very small investment to be made that does not provide cashflow.
Can hold for long-term (10yr + if needed).
Can subdivide for two sections.
Can't make serviced sections for less than this.
Town has own lake, mountain background, golf course, bowl green, pool and small shopping area.
Town well planned and compact, not a strip development along a main road.
Roads are generous width as are footpaths and grass verge.
On a loop road off main road so no thru traffic.
Short drive from Auckland.
Will be affordable for average joe, even if prices double.
Change of ownership situation occuring currently, from leasehold to freehold property.

Can't beleive some of the recent prices wanted for properties in this area though (like 300K+)

cdt18
18-06-2005, 03:02 PM
Just a question Dough Boy, and I know this area well, what the heck are people going to do workwise in Mangakino ? That is the difference between Mangakino & Auckland, there is actually economic fundamentals to Auckland.

18-06-2005, 04:44 PM
Dough Boy is there a shop there yet and how many white faces.

Dough Boy
21-06-2005, 05:48 PM
quote:Originally posted by ENIGMA

Dough Boy is there a shop there yet and how many white faces.


Shops as in plural, also running water!

As for second comment, doesn't matter what colour, but class of people is improving as properties move from being leasehold ownership to freehold ownership.

21-06-2005, 08:23 PM
Dough Boy you say double size section do you mean 8 acres as they were selling 4 acres sections at Karipiro for $99000 a much better locality. So $32000 for 8 acres at Mangakino sounds about right provided it has allready been freeholded.

foodee
22-06-2005, 09:00 AM
DB
Had a look last year. The 'lake' did not appeal so that was it.
Generally impression is a town of 2haves.
May have potential but not in my timeline.

cheers

Dough Boy
11-11-2005, 09:41 PM
quote:Originally posted by foodee

DB
Had a look last year. The 'lake' did not appeal so that was it.
Generally impression is a town of 2haves.
May have potential but not in my timeline.

cheers


Well has just happened in 'my life time' with last GV at $50,000 and sections now going for $120,000 with an original purchase price of $34,000 18 months ago. That is a 252% gain!

Sideshow Bob
12-11-2005, 08:30 AM
So are you selling and realising the gain DB?

Less lawyers fess/ real estate agent fees - but still great work! [8D]

rmbbrave
12-11-2005, 10:43 PM
My brother bought a house there. He was transfered to Taupo but couldn't afford a house in Taupo so he bought one in Mangakino and commutes. He rents out his Morrinsville house.

rmbbrave
12-11-2005, 10:52 PM
http://www.historic.org.nz/magazinefeatures/2002summer/2002_summer_b.htm

foodee
28-11-2005, 10:32 AM
DB
Just back from 8 weeks fishing up north-not as good as last year.

Well done for your venture and good luck in the future.

cheers

barnsley bill
28-11-2005, 05:28 PM
have they put up a memorial yet to the cop who was slaughtered by a local!!
When the property bubble goes pop toilets like no job mangakino will go first.
Disc.... travelled to manga weekly for work in the second half of the 90's.......... Or as the boys called it............. bronx lake