Property Investment Blog
It’s the ultimate dream right – building a real estate empire and then living a life of luxury off it. But what do we actually have to do in order to make enough money from property to make this wish come true? And more to the point, is it even possible in this day and age to actually quit your job and live off your real estate earnings or are those days dead and gone…
When it comes to real estate, there are a lot of mistakes that people can make, but there is one doozy – perhaps the biggest of all, that will impact your ability to create future wealth more than anything else. Ready for it? Drum roll please…. WAITING FOR THE ‘RIGHT’ TIME TO BUY.
While it’s an exciting time that absolutely needs to be celebrated, there’s an art to buying a rental property that is very different to purchasing your own home. So, before you spread your wings and make one of the most incredibly rewarding financial decisions of your life – STOP – and get across these fundamental steps when it comes to investing in real estate.
Kiwis need to be cautious of buyer’s remorse amid today’s panic buying environment. This comes after a recent online promotion in June, held by a Canterbury developer who gave prospective buyers the chance to reserve one of 116 sections in the town of Rolleston with a $1000 down payment. The sections which were priced competitively, saw a flurry of attention which resulted in the website crashing and a group of frustrated wanna-be-buyers frozen out of the offer.
We hear the screaming headlines all of the time – ‘poor first-home buyers, priced out and unable to buy’. The reality is that’s BS. First-home buyers are absolutely hungry and, in the game, to buy!
While you could easily be confused that this sector of the market is deflated and deterred by New Zealand’s competitive real estate landscape, all indications actually show that first time buyers are not slowing down in their quest to own a slice of Kiwi paradise.
You won’t make money on a property that you don’t buy. Sounds sWhen you’ve got good quality properties, good quality tenants and good quality managers in place to ensure your investment is being looked after well, then owning a property should be relatively straight-forward. Yes – don’t get me wrong, there are risks and there are challenges. There are also times that do require more effort from you as the investor, but all in all if you have a strong strategy in place, more often than not, your portfolio should simply just tick along. And if it doesn’t you could be doing something wrong…imple right? But so many people are put off buying great property for tiny issues that cost them a major opportunity in the long run. I’m here to tell you not to sweat the small stuff when it comes to investing in real estate.
You won’t make money on a property that you don’t buy. Sounds simple right? But so many people are put off buying great property for tiny issues that cost them a major opportunity in the long run. I’m here to tell you not to sweat the small stuff when it comes to investing in real estate.
For some strange reason, bad news sells – especially when it comes to the property market, but I’m here to tell you, don’t always believe what you hear and, be very careful of where your advice is coming from.
Whether you’re aware of it or not, we all have a deep-rooted relationship with money that dictates our ability to create and hold on to wealth.
Often-times it’s a money mindset that started right back in childhood and was inherited by the nearest and dearest around us. Cast your mind back… what were some of the stories surrounding money that you heard growing up?
How Do You Reduce The Risks Of Real Estate? The four fundamentals are Population, Infrastructure, Employment and Quality property. It’s very hard to make a bad decision if you live by them…