Hi fellas

I could use an experienced investors opinion here. I am looking into an apartment investment in Tauranga for just 5K down. Contruction is yet to commence and prices go up as soon as this happens. I have to make a quick well informed decision as soon as possible. The remainder of the 10% deposit (31K) is payable on completion of construction which I think is all pretty normal (?). I have heard of these people selling these apartments on for good capital gains prior to completion of construction.[8D] Now Im not into this for the short term but rather for the long haul as I think inner city apartments on the coast have got to be a goer. The rent would have to be in the $650 - $675 per week depending on what the body corp are asking for the investment to pay for itself. Is that ridiculously high rent or 'normal' for that type of lifestyle.

There are not many left and was hoping you could all help me out and tell me what your thoughts are surrounding this type of investment strategy.

Thanks in advance. Studson.