Hello all,
Spent yesterday at Steve’s one day course in Auckland and we are fired up and ready to go!
Just need to start buying. Why are we so nervous?
Would welcome any advice from you seasoned investors out there. Advice on a good area to buy our first property would be welcome. Would like to buy our first one in a suburb of Auckland if poss. Any ideas?I will be back in Auckland soon. My view is that there may be better areas to buy in rather than Auckland. I prefer Wellington or Christchurch. You need to establish a stratagy with what you are trying to achieve. Sit down and look at what you are trying to achieve and then draw up a plan. Im sure that Treve was great but remember that Steve plans his purchases carefully, thats why he is successful
Nigel Kibel
http://www.propertyknowhow.com.au
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So you are still finding your feet.
I would suggest that if you have got this far then go the next step and buy a IP.
For us it was a big step and now we wished we had purchase our first IP earlier. Now we have six IPs.
Look at having 3 million in property within the next 12 months.
Still looking for more. Must find the right opportunity first.Happy investing,
Hi, remember what Steve said at yesterday’s meeting – scarcity scarcity scarcity. Then ask yourself the question is there a scarcity of rental properties in Auckland? Places like Ruakaka would be a good place – good capital gains and a shortage of rentals, Kawerau cheap and reasonable return and other places like these. Look at Realenz.co.nz It would depend on your strategy which you would need to define before going any further.
Happy purchasing..
javascript:insertsmilie(‘[cap]’)Hi Rob & Jo,
we were at the same MasterClass yesterday. We are NZers and cuurently have 6 properties in NZ, including 4 in Auckland but have stagnated. For us, we found Steve’s seminar hit the mark when he talked about having your strategy and plan in place before you move ahead. It’s easy just to apply a ‘scatter gun’ approach without a plan. But if you know what problems you can and want to solve, then find those properties with the problems you will solve, your profit should automatically follow! I suggest you do Steve’s Homework for the next 7 days and start to develop your strategy and plan. We are doing this (this post is part of the homework assignments) and believe it will help us get our momentum back.
Good luck.
Hi Rob and Jo,
Met you yesterday at the seminar. I too am feeling all fired up and ready to go. This is post number 2 for me. One more to go to finish todays homework. I have been reading Steve’s second book tonight and one message which I got is not to focus on where but to focus on how. I am still trying to work out how to apply this.
Good luck
Sinead
You know I am also suffering from stagnation and I was at the master class.
However one thing really struck home, get out there and do it. It is like most things – leap in and learn from your mistakes rather than holding back and considering every option. It seems the strategy develops once you have started (for me anyway), as you gain from experience you get to see what actually works for you.
Right on that note – time I found some more property to buy!
[biggrin]
Cymber
We’re thrilled to hear Steve’s classes have got you all so fired up – it’s fantastic! We’ve been just as excited about NZ property for 3 years now and often feel like a kid in a candy store!
But basically no one can answer those questions about where to invest in NZ except you! There is no one place is better than another solution – each has their pros and cons.
So our only piece of advise is work out your Personal Investment Strategy before you start. What’s your goal – cash flow or capital growth? Are you going to hold property long term or short term? Do you want development potential or not? Are you going commercial or residential? What investment vehicle are you going to use in Australia and in NZ? How are you going to manage your income and taxation (including potential capital gains tax issues for Aussie investors)? The answers to these questions and more depend solely on you.
Once you’ve worked out these you can begin to define your criteria more closely and have your wish list. You will then find when you go looking that areas and properties will self select according to your criteria.
Don’t forget to get yourself a good Australian accountant well versed in NZ property and bilateral taxation treaties. A good NZ accountant and lawyer is also an asset and can save you from costly mistakes.
And one final piece of advice…. do your due dilligence on any potential purchase (this includes inspection, building inspection and LIMs).
Best of luck!
Sigrid de Castella & Antony Anderson
Authors “The Guide to New Zealand Property Investing – Australian Edition”
Available at http://www.kiwiproperty.bizHi Rob and Jo,
All fired up and ready to go is excellent BUT perhaps not the best frame of mind to be in when you are on the hunt for undervalued investment properties.
Make sure you channel that energy the right way and don’t get yourself into a postions where you will let your gaurd down or buy a property that is not a good fit for you.
There are heaps and heaps of properties out there as you will be finding out from your search so far. The trick is finding the right property for you and not one that is right for someone else. Make sure you are aware what skills you have and what you will need to outsource.
Also when starting out make sure you plan alot of other activities into you life not just investing. Include your family and friends if you can and try and surround yourself with positive people.
If you are lucky you might find a group of family or friends that will cast a critical eye over your investments without being a negative wet blanket.
Most of all have fun and live your life now while you are on this journey of investing rather than waiting for the “I’ve made it” moment.
Cheers
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