Investor · Auckland, New Zealand · Member since 2020 · 3 posts · 0 votes
Greetings !!!
To all NZ based investors , I have some deals currently through my pipeline (mainly in Auckland). At the moment I am tossing up whether to go ahead or just wait for a couple of months, I am just afraid of missing out on some amazing potential.
Will it be safer to wait a couple of months post COVID before pursuing these ? More specifically house flipping , rehab and holds and in some cases wholesaling.
If you are an Auckland based investor (or any market) what are your plans/ or what are you going to be doing ?
Auckland, New Zealand · Member since 2018 · 80 posts · 36 votes
6y
I'm no pro but if you can make it work then do it.
I saw Tom Panos speak last year and my key thing I took away from him was the best time to buy a property, assuming it works as a deal, is whenever you can.
Maybe you should make your criteria more conservative than normal to make yourself feel more comfortable, but if it works then that's a good thing
Christchurch, Canterbury · Member since 2017 · 14 posts · 3 votes
6y
A couple of things I am keeping an eye on in New Zealand is what will happen when the wage subsidy ends and when the six months mortgage repayment holiday ends. That could significantly impact the market.
Currently because I am only buying really good deals due to the current risks and uncertainties in the market.
Rental Property Investor · Dunedin, Otago · Member since 2014 · 76 posts · 24 votes
6y
Like Dean says the crystal ball is different for everybody. The key is invest when your ready and the deal makes sense at that time. If the deal's any good and you have the tools to make it work then any times a good time potentially.
Personally we're more in sales mode than buying but that's because that's what's right for us and our market at the moment. Doesn't mean in a few months the market might be giving us deals that are worth buying?