All Forum Posts by: Kyle Elmer

If your new and/or looking away from your local area then you need to find a team you can rely on where your going to invest. So most important is your possible Property Manager as they can make or break an investment. They will also have a good network of tradies for maintenance/improvements, valuers, etc. So narrow down the areas that make sense financially for your goals and then find a property manager/team in those areas next then find a property that fits the bill that the PM is happy to manage.

very few do it that way round but then wonder why they have so much trouble. The property is less important than the reliability of the income stream and the team generate that for you.

good luck

Thanks @Nate Astrup, will check it out.

Brandon mentioned a screen recording extension about a year or so ago on the podcast for recording training manuals/procedures. Anyone remember what it was called or suggest good free ones (new startup😉) their using?

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?

Good luck

Hi Sam. The 1% rule or better is unusual in NZ generally. We have a different model to the US which is obviously prevalent on BP. You would be best to head along to an APIA ( apia.org) meeting or two if you're in Ackl and get a feel for the way property investment is done in NZ. Then you can look at both NZ and USA or other markets and depending on your situation decide which fits what you want to achieve and all the tax and financing variances involved.

Dunedin NZ from St Albans UK when we first bought. 19,068km

Hi @Malachi Broughton

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.

Kyle

HI Caleb

your best bet is likely to be to join up with the Hawkes Bay Property Investors Association. There a good bunch up there and have regular meetings and educations. https://hawkesbay.nzpif.org.nz/

They held the national conference a couple of years ago and I have dealt with Graham Duff there a lot as a former President so they will be able to help a lot.

good luck,

@Josh Stirling The main one I know about up there is APIA. They are the property investors association in the region and they are part of the national body. Membership is relatively cheap for the amount of content they used to produce. Go here for more info https://www.apia.org.nz/ 

@Adriena Daunt the new or refurbed studio ones, you need to make sure they are council consented to be multiple room dwellings as with the new tenancy laws possibly coming in if the council has it as a large single dwelling but you are renting it by the room you might (you need to check case by case) fall foul of this rule that you are renting an illegal dwelling according to what is on the paperwork at the council and then potential refund rent, pay exemplary damages, have trouble with insurance and/or finance etc all come in to play. Under 5 rooms and with single only occupants on multiple leases there is a bit of room to make it work but you need to understand the risks of it not running right.

Feel free to PM me if you have specific cases you want to have a chat about and I can give you a heads up of what you're looking out for those and future ones? It is the same issue nationwide just not so well policed maybe?