All Forum Posts by: Timothy Shue

I agree with Paul, your Mum would be an awesome source of advice as a starting point but it also wouldn't hurt to network with other property investors particularly if you are pursuing a different strategy. Are you a member of the Auckland Property Association? There are also a couple of New Zealand specific Facebook property investing groups as well.

I agree with @Dean Letfus very risky, if you want a cash cow try and find a high yielding office building, will be less risky and not an illegal dwelling. Though the capital gains on the office property would be lower. If this was a really good deal there should be lots of interest in it. If the issues with the property is turning potential buyers now it will turn off buyers when you try and sell it.

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.

Hi Hamaza 

I would recommend that you contact the Auckland Property Investors Association. If you private message me I can send you the link. Also if you are looking for a builder I have a friend in South Auckland who has just started their own building business.

Cheers

Timothy

Trade Me is probably a good place to start when looking for properties to buy. Trade Me also has a tool called property insights where it gives the estimated value and shows the size and shape of the section for every property in New Zealand. That would allow you to assess whether the sections were big enough to build another property on.

Also even if you do have the funds available to purchase a property there are foreign investment rules in place that make it difficult for overseas investors to purchase. However presumably that won't apply if your wife is NZ citizen.

Hi Don

I am a property investor in New Zealand and would be happy to help, though my portfolio is more commercial focused. There is a Facebook group called property investors chat group NZ which you can join where people often ask for recommendations for mortgage brokers, builders etc which would help you in building a team.

Cheers

Timothy

I live in New Zealand and am looking for a property manager. I was told that the industry average is for a property manager to manage 180 properties. Is this consistent with what you would expect? It seems to be different from what is discussed in the articles on this site but then it does seem that the US has a lot more evictions than the US. How many properties would you expect the average property manager in New Zealand to manage? They reckon that the only spend half an hour a day following up on rent arrears.

Thanks

Timothy

@Christopher Phillips

 I am in New Zealand and am not sure if it is different from the US but the only way I see the deal falling apart at closing is if I don't pay the vendor the remainder of the purchase price. How else could the deal fall apart at the closing table?

I am in the process of buying my first house. It is a brand new house with no one currently living in it. I am boarding at the moment and as such don't have things like furniture, cutlery, appliances and homeware items. I was thinking of putting in a clause that allows me to access the house prior to settlement date to allow me to put furniture and so forth in the house. Is this a good idea? Does anyone have examples of the wording of such a clause? I have also included an early access clause that will allow me to take tenants through the house prior to settlement as well.

Thanks

Timothy

@Dean Letfus Are there any areas you would recommend buying or not buying due to tenant demand?