Investor, Buy and Hold, Rehabs · Wellington, Wellington · Member since 2016 · 44 posts · 27 votes
Let's get everyone who is a New Zealand based Real Estate / Property Investor to reply here, so we can try and form a group to share ideas both for investing locally and abroad. I know there are many of you out there, so put your name here!
@Benjamin Connor the market has been going nuts down south here as people have been trying to use up there finance pre-approvals to buy cashflow down here, but I would suspect it might slow a bit in the next 30-40 days as they run out and then be a bit of a reset whilst everyone works out where to next? We're getting investment properties with multiple offers in a few days of being listed
Thanks @Kyle Elmer for pointing me to this thread, its a good way to see what other kiwis are doing!
I am new to the forums and the REI world. I am based in Auckland and work in the CBD and I am at the research stage and strongly leaning towards buy and hold at this stage, however I am all ears when it comes to others experience and their point of views on other methods and what advantages and disadvantages accompany different methods with REI.
I'm also new to the BP Forum and US Citizen living in Central Otago NZ. have been investing and trading in NZ for over a decade in Residential and Commercial Real Estate. but now seeking more cash-flow opportunities in the US.
Thanks @Kyle Elmer for showing me this forum. Completely new to investing but very eager to learn. Excited there's a lot more kiwis on BP.
I'm Auckland based myself, looking at the Tauranga market. My fiance and I are looking at buying a multifamily house to live in and rent at the same time. Anyone ever saw 'Income Property'? A Canadian show about getting your basement converted to a cash machine. More of an entertainment value, but still good to pick up some information.
I'm planning a trip to Tauranga next week, have an appointment set up with a Real Estate agent to look at what the options would be for us. We want to buy in 3 to 6 months, still in the research phase.
Are any meet-ups planned for the Auckland investors here in the next few weeks, would love to meet like-minded people!
This is great @Kevin Estey! Shout out to @Kyle Elmer for pointing this group out to me! My wife and I are Auckland based novice investors that are looking to build up a NZ and US investment portfolio in areas outside of Auckland.
Looking forward to contributing to the group where we can, as well as soaking up any advice others can provide us with, especially for investing in Do-ups and Rental Properties in Palmerston North, Whangarei and Dunedin.
Auckland based. Interested in how people can invest in the US from here. Must take a lot of work buying without seeing the properties! Anyone done it successfully and willing to share their method?
Btw @Azam Khan - I also use GRA for small business and property stuff and they're great. They sometimes do free seminars on property and you can get free consultations if you go.
Are any of you going to the NZPIF (New Zealand Property Investors Federation) national conference in New Plymouth?
If any of you are going let me know as it may be worth trying to set up a BP Kiwi meet up in the bar one of the evenings(yes I'm a southern boy at heart so the bar is the perfect spot ;-) ). If anyone knows anyone going that isn't in the forum then maybe point them here and we can start a bit of a kiwi area here with this positive vibe you get through BP? @Kevin Estey@Azam Khan@Hadar Orkibi@Timothy H.@Dean Letfus@Takashi Sawada@Elwin Van Wees@Simon Kearns@David Logan@David Sherar@Benjamin Connor please feel free to share this message with any other Kiwis on here you know?
Have plans for those day's already although I'll spread the word.
Have a few specific questions about finding deals in the current market. My fiance and I are looking at buying a house in Tauranga to live in but rent at the same time. This to get around the 40% rule and still have the opportunity to get some rental income. I see this as our start into property investing as we would save the rental income and gain equity at the same time. I'm going to Tauranga for a few day's next week to check out what's possible for us. Now:
Has anyone applied this strategy?
Any big holes in my strategy?
Any tips on finding of market properties?
- I emailed local property managers with the question if they know current landlords who are thinking about selling.
- Planning on putting posts up in local stores with my details for people to see.
The holes I have heard in that plan already are that if you buy a duplex for example and you live in one and rent the other the banks are still going to take that as an investor loan and apply the 40% deposit rule, at least in the short term till they understand the full implications of the new rules.
What a friend of mine did with the help from the bank though was get the rental appraisal (as the property was still finishing the reno whilst they were sourcing the funding) to show a flatmate type situation in the other unit (it is two 1bd places on one title so quite feasible) and hence it was able to be classed as a home owner loan with a flatmate to top up the mortgage payment. I am not sure the details or what they used in the way of income from the "flatmates" portion but they must have included some of it on the debt servicing calc considering the deal????
@Dean Letfus I send an e-mail to all real estate agencies I could find in Tauranga. Had a few responses and I'm meeting up with one next week to get an idea of what we could do. I'll update on that progress.
I understand that private sellers are your best bet for a deal, what about getting in contact with wholesalers? On that note do people do that in NZ?
@Kyle Elmer had a conversation with a real estate agent about the duplex situation. He said as well that it will be 40% for the rental property. That's why now I'm looking at only 1 property on a lot with at least 3 rooms so that we can indeed get a roommate situation (don't mind giving up some privacy now to get going in the long run). Better would be a separate unit in the same house, like a basement apartment Still, have to figure out if that would legally be allowed. Guess you need a certain zoning for it.
@Elwin Van Wees we call them finders or traders typically in NZ. Yes there are a few around and they are typically good at finding deals. We are heavily regulated so not many cowboys left. But Trademe is your friend. You can set up a search for only private sellers and just work the heck out of them!
Hey everyone new to Biggerpockets and live in Hastings, Hawkes Bay. Have just started learning RSI and find it extremely interesting and possibly holding off joining police collage to save for my first investment property (with the right guidance of course). Welcome all the help i can be offered. I am 19 years of age and want to start now. Thanks guys
Welcome along. What are your plans for property investing, you looking to go full time or use it more passively in the background to use for say an early lifestyle of work when you want rather than when you have too? If you're looking for info then it's been mentioned earlier in the post that this year NZPIF national conference is on in a few weeks and is a great place to learn and meet people in the industry. For all those that hadn't heard about it or planned to go yet here is the link http://www.propertyconference.org.nz/items/view/57467/
My current plan is to work full time in retail, save enough money for a deposit with my partner within a year or 2. Then purchase a house under market value and rent it. and continue the process for a good long term cashflow before i am 30. i am very much in my infancy when it comes to RSI but its slowing all making sense now.
Hi everyone! I am a New Member of BP joining the New Zealand crew.
To introduce myself, I am a 21-year-old student currently studying at the University of Otago. Due to my entrepreneurial friends recommending me some books such as Rich Dad Poor Dad, I have realised the great need to have passive income, and haphazardly discovered my passion for REI. I have started reading The Book on Rental Property Investing and so far I have never enjoyed reading a book in my life to this extent.
I just wanted to introduce myself to the community and wanted to ask you guys how I should start investing in general in New Zealand as I am a complete noob. Any tips or advice will be greatly appreciated.
Welcome to BP. I am local to you here in Dunedin so feel free to sing out with questions for help.
As mentioned on your other post joining the local PIA (property investors association) would be a great place to start to learn. We have just initiated a new student membership too even though we are one of the cheapest in the country anyway. Message me and I can fill you in more.
There are some other more local members here on BP who unlike me invest out of Otago and the South Island so they could be a help too depending on what you are planning to do but we have one of the better markets in NZ here to start with. @hadarorkibi may be a help if your thinking of more active than passive investing?
Welcome to BP, as well as joining your local PIA, keep reading RI books and listen to the podcasts on BP, there are some great tips and they really help to keep you motivated and focused. For the record, I still feel like a noob when it comes to investing and we got our first investment 14 years ago, so you are not alone there. Always something new to learn. Also agree with Kyle, write your goals down, network with like minded people and be prepared to make the right choices to help you fulfil your goals.