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!
Kia ora Dean. wow u really know your stuff. Congrats on your choice of Life Style and Hard work to support it, new to this web sight and loving the awesome content shared by all along with the intelligent questions.
Been gaining so much info over last few months, finally putting my knowoledge to the test and trying to find deals. if i may run the one i have pass yous and get some feedback that would be awesome.
This is a serious opportunity to create your forever home or an add value project. Ignore the CV of $1,17m, the vendor acknowledges there is work to be done. Massive 230m2 home with large open plan kitchen, dining and lounge opening onto the second storey deck with expansive rural and sea views. Fantastic separation with two bedrooms and the living areas upstairs, the huge master bedroom with ensuite and walk in wardrobe. Whilst downstairs also has 2 bedrooms, second living area and bathroom. Plenty of parking with a double internal garage and multiple off street parks. All of this and close to absolutely everything, shopping, motorway, public transport and restaurants.
* 4 Bedrooms or 3 bedrooms plus study. * Master bedroom with ensuite and walk in wardrobe. * Open plan kitchen, dining and lounge. * 2 Living areas. * Sea and rural views. * Fantastic indoor outdoor flow onto the deck. * 2.5 Bathrooms. * Double internal garaging. * Handy to shopping, motorway, transport and restaurants.
currently listed with realtor, but seller willing to let sap agreement expire and sell to me for $740,000,000
@James Scholz any chance of a of your purchase and sale agreement please bro if i may ask also will an co, they get payed after settlement is that correct? also would you recommend using escrow or title company?
@Account Closed, a couple of things don't quite make sense to me. The rent range is far too wide? Why is there such a variance? For it to be so far below CV there has to be an issue with it somewhere? Is it leaky? Is it cross lease? Are there some encumbrances on the title?
If your plan is to flip it hen you have to ask why hasn't it sold already? And if you want to hold it the question is why? If the rent is $800 then the numbers aren't bad on the buy price. But if it's only $600 then you could do better.
What I would do is get a contract on it then get a valuer in and get another agent in to tell you what it should sell for and what work needs doing. if everything stacks go unconditional, otherwise walk.
Properties don't sit in Glenfield there HAS TO BE A RESAON they are willing to give it away like this. You NEED to find out what that reason is.
Kia ora Kiwis! My names Malachi and I'm from the capital in Wellington. I've read through this forum and found some awesome insights about what it's like investing in New Zealand. I'm new to BP and real estate investing although I've read the ultimate beginners guide to getting started and the book on rental property investing from BP. I'm a consultant at Accenture by trade but building long term growth is the aim of the game for me.
@Kyle Elmer@Dean Letfus Both of you have very impressive knowledge and experience in real estate for New Zealand and it would be awesome if you'd have any advice for a newbie. Most of my learning and analysis has been on rental investing and this option appeals the best to me due to cash flow and long term equity gains. I'm a keen learner and excited about the journey ahead, thanks for the help team!
I agree with @Ryan Spearman that your best bet would be to join a local PIA as the amount of info available amongst the members is huge for the small fees. Being in Wellington you are spoilt too as there are 2 PIAs there. The WPIA is the older one and I know a few of the committee there and they would be a good starting point. The other choice is Capital PIA.
Also, the national conference is run through the national body that all the PIA are associated with and it is in Rotorua this year so that would be worth keeping an eye out for, its usually about $700 for 2.5days or so.
Awesome thanks for the advice. I've checked out both associations before but it's a bit out of my price range for now. I'm also a year or so away from investing since I'm saving for a first home and first investment house deposit.
I'm very much in the learning phase now and I'm keen to gain some knowledge/insights and connections as a base until I get to the position where I can enter the market in NZ. My main form of learning so far has been the BP books but I understand that can only teach you so much before you have to take practical steps.
Go hard on all the books, there is amazing info out there- Rich Dad Poor Dad, Millionaire real estate investor, search them all out and use the library, it gets pricey if you buy them.
Graham Fowler writes some great stuff about nz real estate investing, haven’t found them at the library but they are pretty cheap on the kindle.
@Malachi Broughton, there are 2 ways to approach things broadly. If you're young and keen but broke you can either learn how to buy or trade a property with little of your own money. It's not for everyone and it can be stressful but it can be done. You need to learn about things like seller financing, lease to own and how to become a property "finder".
Alternatively you focus on saving as much as you possibly can make sure you have great credit so you can get a credit card and as soon as you have some cash look to get into a smaller town in NZ, (Because of the lower cost), into a value add property.
@Dean Letfus, thanks for the advice I'm more leaning towards the second option saving as much as possible for at least a 20-30% deposit, even though I'm in Wellington my home town Hawkes Bay seems like a good place to start for cheaper homes. Do you recommend getting a credit card and doing small credit purchases to validate a good credit history? I already have a few good credit purchases I've paid off
Is it also best to build your a good credit history by making some smart credit card purchases? Or is it best to not have any and just save up?
I've been looking into learning through online courses such as ifind propertys course and iRefis emails. Would you recommend getting into contact with mortgage advisors etc to establish good connections?
Hello kiwi BPers! I am new to the site and real estate investing. I have absorbed a ton of information over the past few months and have plenty more to learn. I was wondering if anyone could shine some light on the similarities and differences of investing in NZ vs the US? I am specifically interested in small, multifamily buy and hold investing to start.
Is anyone here familiar with wholesaling property and know how to actively source deals? I know in the U.S. they typically source a list of pre-foreclosure tenants so was wondering if there are any similar ways in our markert of getting said lists and finding distressed home owners. Cheers!
Hello kiwi BPers! I am new to the site and real estate investing. I have absorbed a ton of information over the past few months and have plenty more to learn. I was wondering if anyone could shine some light on the similarities and differences of investing in NZ vs the US? I am specifically interested in small, multifamily buy and hold investing to start.
Cheers!
Kia ora Brenden. I'm an American that immigrated to New Zealand and so far have only bought one home here (my primary residence). Investing here is quite different than the US. I have bought and sold several properties in Texas over the years. I would suggest you take a look at the OIO webesite (Overseas Investment Office) - it is part of LINZ and is responsible for regulating what kinds of investments can be allowed by foreigners: https://www.linz.govt.nz/overseas-investment
In the past few years there were loopholes in our laws that resulted in a swath of foreigners that bought up large numbers residential properties to hold and sell a wee while later. It has contributed to the drive up of the housing costs that make it difficult for anyone to get on the property ladder. We have a significant housing crisis here, and it adds insult to injury with so many empty properties that were bought as investments. The loophole has been somewhat closed (see the website above for what is and isn't allowed).
@Jack Manning, other than mortgagee sales listed in the Herald, trademe is your best source for deals. Set up alerts to send you every "private sale" listing, every "deceased" listing etc. There is no secret sauce method, virtually every home for sale is on trademe. Only other thing that can be a source is to befriend a PM or 2 they do have landlords getting ready to sell from time to time.
@Brenden Mitchum our market is so different it's hard to know where to start. The most important thing to know probably is that yields are VERY low and prices are VERY high and maintenance and rehabs costs 10 times what they do in the USA. (Things like a roof are even worse. 4K in Memphis is 25K in New Zealand for the same size house!)
The upside is we have pretty much zero vacancy, very predictable growth and high demand. Plus houses pretty much never get trashed and our insurance is far better than the USA. But it's impossible to realy explain how different it is in NZ to the USA. And you need decent advice these days to get around the ridiculous foreign investment legislation our loopy politicians introduced recently.
Hi to my fellow kiwis and all other BPers. I am in Tauranga and am new to investing and learning so much through this. There so many ways to invest and so many different investments I am constantly being surprised by what I learn. I am hooked! Would love to know if there is anyone local to me. I know there is a property investment meet up here in Tauranga which I will go to.
Look forward to connecting and meeting like minded people on here.
Hey Leanne, I'm a US investor based in Nelson. Always happy to connect if I can help at all. I'm going to be based in Napier for a couple of months from next month, so if you're down that way we could meet for coffee perhaps..
Hi everyone ! Is this group active did you set anything up ? I am a kiwi living in New York but want to start looking and researching options for investing back home , flipping etc or rentals .. would love to be connected with everyone here !!! Please reach out :)
There seem to be a few people on here from New Zealand. I am in Tauranga. There are a lot of changes going on with the laws and tenacy act at the moment. A good place to check out is the New Zealand Property Investment chat group on Facebook. Good people and advice on anything IP. Where do you think you will come back and live?