All Forum Posts by: Sam Hurdley

Hey Guys,

Very much a beginner here so forgive me if this is a silly question...

I'm have just read about the 1% and 2% rule and started running a few numbers. I am from Auckland, New Zealand (an expensive market), but the numbers here seem to be WAY off. 

For example, a house worth $800,000 here might rent for approx $2,800 a month. That comes in at 0.003%. Obviously better deals can be found, however, surely this will never get close to 2 or even 1%. I understand this 'rule' is just a guide, but nonetheless it seems extreme. 

In expensive markets such as this, do people usually focus on other metrics than cashflow? Surely these numbers don't mean that investing here is a waste of time?... Hoping someone can provide some insight :)

Cheers

@Kata Walters. Hi Kata! Nice to meet you too! I'm hoping to look in Auckland as that's where I have lived my whole life and therefore the area I know best. But as you mentioned, the prices are really high, especially in Auckland... I think some of the outer suburbs could be affordable, however.

How is it going for you in the US? How long ago did you get started?

@Dean Letfus. Awesome, cheers for that Dean.

@Brook Boatman thanks very much Brook! Very helpful.

Hi guys! 

Newbie here, 25, from Auckland, NZ. I'm currently living in London but moving back home in about a year and looking to get started in real estate investing when I arrive home! I'm in the fortunate position where my Mum is very keen to help me get started with investing (and keen to invest some money in a project), and therefore would be willing to help me with a first deposit. A couple of questions:

Firstly, House Flipping has definitely stood out to me as the strategy that I want to learn about and get into, however, starting out, I want to buy a house that I can live in. Also, if I am going to get an investment from my Mum, this is the route I know will work... My question is: will I be able to use this to finance my next purchase in order to start House Flipping? How can I go from owning my own house to financing a first flip? 

Secondly, what are your thoughts on having a brother as a business partner? I have read lots about not working with family but this seems like a good opportunity. We have a good relationship and he owns a construction company / has been a builder for around 15 years. Therefore, he has a great experience with rehab pricing and project management etc.. I also know he would be keen to get into a project and willing to put money towards it.... Is this an obvious yes?

I'm very much a newbie so apologies if any of these are silly questions! 

Cheers, Sam.

Hi Everyone!

Im 25 and from Auckland, NZ. I'm currently living in London but moving back home in about a year and looking to get started in real estate investing when I arrive home! I'm in the fortunate position where my Mum is very keen to help me get started with investing (and keen to invest some money in a project), and therefore would be willing to help me with a first deposit. A couple of questions:

Firstly, House Flipping has definitely stood out to me as the strategy that I want to learn about and get into, however, starting out, I want to buy a house that I can live in (potentially multi-family to take the house hacking approach?). Also, if I am going to get an investment from my Mum, this is the route I know would work. My question is: will I be able to use this to finance my next purchase in order to start House Flipping? How can I go from owning my own house to financing a first flip? Do I have to build up cash again for a down payment?

Secondly, what are your thoughts on having a brother as a business partner? I have read lots about not working with family but this seems like a good opportunity. We have a good relationship and he owns a construction company / has been a builder for around 15 years. Therefore, he has a great experience with rehab pricing and project management and would have a lot of handyman contacts etc.. I also know he would be keen to get into a project and willing to put money towards it.... Is this an obvious yes? 

I'm very much a newbie so apologies if any of these are silly questions! I'm currently working my way through the beginners guide but wanted to get my first post out there and say hi :)

Thanks all!

Cheers.