Greg & Colin Thornton RE/MAX Sabre

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10 Top Tips for Buying an Investment Property

10 Top Tips for Buying an Investment Property

  

  1. Strategic purchasing is critical – Take care to value the obvious – proximity to services and facilities for the occupier, are going to influence your rent, value, vacancy, growth and safety.
  2. Manage what you do well – sourcing, negotiation and overall strategy for your investing business and behaviours – let professionals do the property management.
  3. Mortgage brokers are like having a well-trained fullback on your team– they can see the right lines for the winger – that’s you – to run – so use them!
  4. If you buy solely on the basis of “I would live there” – you are probablyexcluding 95% of the areas where you ought to be looking for cash-flow.
  5. Property investment NZ is a long term game. If you are going to buy a property for the long term – start as you mean to finish – do it professionally, in the right legal structures – go and get the right expert advice.
  6. Buying well at a fundamental level, and letting time do a lot of the work for you, is a useful and simple strategy for long term ownership of any investment.
  7. If you are investing in anything, trying to beat the market can work out both good and bad – so address it as a risk and reward business activity – or don’t do it.
  8. If you do want to be professional speculator, realise that you will actually be liable for your capital gains – and have been for a long time. It’s called GST and company tax, and just like any other business making a profit for the supply of goods and services, you will need to pay these. Get over it. Be in business, make the money, pay the tax.
  9. If starting again back in time as a younger person, many investors would say –conquer your fear of the unknown – learn earlier – so you can start earlier – and reap the rewards earlier.
  10. Just as in any market or business opportunity, there are others doing it – some well, some not, some with mediocrity, some will be stars. Whichever you want to be – just beginning, puts you ahead of a lot of other people!
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