Don’t let a few bad apples spoil the whole bunch!
Have you ever thought about buying an investment property, only to turn on the telly and come across a show like Renters and go, “Yeah, nah – I’ll be right thanks”.
There is a big misconception that people who own rental properties are bogged down with nasty, dirty tenants who trash the place and end up costing investors thousands of dollars.
Because of this, buying your first investment property can feel scary and daunting without the right support.
There are many people in New Zealand who are in a strong position to create large levels of wealth by leveraging their current financial position via the power of property, but they are simply too scared to take the leap – and it’s through no fault of their own.
I heard a horror story…
They may have heard a story through their cousin’s, brother’s friend that just completely put them off purchasing a rental property.
For example, a man who I worked with years back told me he was reluctant to buy property because his uncle’s step-daughter once had a rental and her tenant trashed the place.
They ended up spending $5000 to tidy things up and instead of getting new and better tenants in, they wanted nothing more to do with the place and sold up at a time when the market wasn’t so hot.
Ultimately, they lost a lot of money and had a terrible experience with their investment property.
These types of scenarios are traumatising for people, so they warn the ones they love by trying to help them to not make the same mistake.
What they don’t realise is, if they had the right professional guidance rather than just winging it – their horror story could have been one of mega success.
Yikes! This rental will bleed me dry.
Other times people are put off because their friends tell them what hard work owning a rental property can be.
Real estate is a precious and valuable investment that needs to be handled with expertise to avoid costly mistakes and headaches.
All too often landlords learn this the hard way because they micro-manage their properties. This often results in lost opportunities, a lack of free time and becoming emotionally and financially drained.
In this scenario all you hear about is how your friends never get a spare weekend, they can never go away, there’s always something to be fixed and the phone calls never end!
Again – not very appealing for an upcoming and new investor.
A property should always be working for, not against you, and if that’s not the case you’re doing something wrong.
This is of course where having a property manage is vital to your long-term success. If you want tips on choosing someone to work with, read this article for tips on selecting a property manager.
Media Mania designed to shock you!
And then, there’s the media. Sadly, shows like Renters or Neighbours At War, don’t show good tenants because that doesn’t sell.
Reality TV programs like this, focus on the worst possible scenarios and the most amount of drama because that’s what shocks people into watching them. Otherwise, they would get no screen time!
When you look to your family, friends and even the media – it’s not surprising that depending on your inner circle – investing in property can seem like one big headache.
Hell, if I was misinformed like this too, I most certainly would not be where I am now – the CEO of Positive Real Estate and a long-time successful investor myself.
I can assure you though, these rather frightening scenarios are simply not a reality for any of our clients. In fact, the type of stories we hear about are vastly different. It’s about choosing wisely in the first place.
There is a proven Formula For Success
We hear about the people who have rented the same place for 15 years and have always paid their rent on time.
And the renters whose kitchens are so clean you could do open-heart surgery on the bench, or the ones who have immaculate gardens and homes full of taste and pride.
The misconception that all tenants will cause you to toss and turn in your bed is wrong.
But there is a formula on how to attract the right tenants in order to get great long-term results from your investment portfolio.
To learn how to become a successful property investor and not a tired and stressed-out landlord, book your spot now for our free property investing seminar.
You’ll learn the formula required to take your financial position to where it is now, to one of on-going wealth creation and financial gain.
Use the form below to reserve your spot.
See you soon!
Sue Irons
Director – Positive Real Estate NZ
Property Investor Night – free tickets!