All Forum Posts by: Dale Viljoen

I forgot to say sorry, I am currently living in Auckland and Hamilton is a 45 minute drive. Yeah that was my initial thought, that there will be a reason they abandoned but I came under the assumption it was due to money looking at the bathroom. What would you do in this situation as I am not to sure were to go from here?

Hello everyone! Currently my partner and I are looking to purchasing a place and to get on to the property ladder. I have now read 3 books and many articles and I feel as if I can not learn much more without actually going out there and doing it and with rates being low and the housing market taking a small hit I feel as if we might as well get into it now. 

We looked through quite a few websites for a suburb called Hamilton in New Zealand and many of the houses are sitting at $450,000 to $600,000 for 2 - 4 bedrooms and most of the houses already looked like they were renovated with almost no issues besides some of the gardens looking rather horrid. 

Untill we came across this property - https://www.trademe.co.nz/a/pr...

Some pictures: 

We know that a starter property with minor issues like lose carpets, bad curtains, needing a new paint etc are ideal but it is very hard to find one with issues like that and the property when complete looks like it could be around $500,000 so even with renovation costs of $40,000 we would make profit. 

All help is appreciated!

If the landlord is okay with it then what would the problem be?

 I will always be honest to the landlord and anyone I am dealing with. Do you believe that this method is a good idea, because the numbers are not looking the best. Do you have any advice for me?

i am 18 years old and have about 5000 USD saved up and would really love to get into real estate as soon as I can. I was thinking about signing a rental agreement for a apartment/house for a year and then renting it out as holiday house per night.

I live in NZ and the apartments I am looking at cost about 450 NZD a week disincluding watet . If I look at similar ones I can see it goes for about 100 - 120 NZD a night. I am going to estimate the water to be about 30 NZD a week. So I will have to be making atleast 500 a week to break even and thats meaning I'll need a minimum of 5 nights out of seven to be booked out which is massive risk. Would apreciate advice on the best way to get into real estate with not a lot of money. Thank you for everyone who has a input!

 Thank you so much for your help. I will be going into Cyber Security then.

This is something that I have been struggling to decide for a fair amount of time now. I have completed a one year course in university and will be moving onto a 4 year course next year in Cyber Security. However my end goal in life is to work for my self in Real Estate. The course to become a Real Estate Agent is 1.5  - 2 years. So not only will I start learning much faster I will also be able to earn money faster. 

Now here is the bit keeping me back from going as a Real Estate Agent. In my country (New Zealand) there are 12,000 Real Estate Agents and only 7500 houses sold this year which does worry me as they are paid through commission. I also often here people say that you have to be "on call" all the time and its very common to work throughout the weekends. On top of that Cyber Security pays about $50,000 more a year which would allow me to purchase properties much sooner with the downside of no Real Estate experience.

All help is much appreciated as I have to decide by the end of next week.

 I will be planning on selling it after rehab.

What calculations should I be doing for a property that I want to rehab?

 Hi James, I have messaged you personally to ask you a couple of more things if you do not mind.