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Thread: NZ Invest

  1. #1

    Default NZ Invest

    Hello there.
    First time caller here.

    I have my first home, with some good equity and am wanting to get into my first rental investment. What I have quickly learnt is that there are a huge range of options!!

    I have spoken to NZ Invest, which seems very good on the face of it...two questions:
    1. Has anyone dealt with NZ Invest, any advice/thoughts?
    2. More importantly ...Any thoughts from you experienced people out there where to start in this game? I have briefly read the newbies forum which was great.

    Thank you
    Gareth

  2. #2
    Join Date
    Jun 2004
    Location
    Auckland
    Posts
    2,103

    Default

    Welcome to the forum, Gareth.

    I suggest the following:
    1. Determine your investing rules.
    2. Choose an area or two, maybe where you live, to focus.
    2. Study the house prices and rents in the chosen areas.
    3. Find properties that meet your rules.

    Another important thing you can do:
    4. Study posts on the forums and ask questions.

  3. #3
    Join Date
    Mar 2004
    Location
    Thames, NZ
    Posts
    475

    Default

    Gareth

    2. Choose an area or two, maybe where you live, to focus.
    I though previous postings would suggest it would be better to purchase outside of the area you live, though not too far away.

    Though I know Graeme Fowler, froom previous posts, does buy in his own patch.

    L

  4. #4
    Join Date
    Oct 2004
    Posts
    188

    Default

    Personally i don't think the message is to invest or not invest where you live.

    The key is to understand the area that you invest and if the only area you understand is where you live then this is probably the best place for you to invest.

    Of course the more effective way of getting around this is to expand the number of areas you 'understand' then invest in the one you see as being most suitable.

    It can be done crudely quite easily by looking at the rentals in the paper and matching to house prices. Council websites are also good for understanding developments/projects.

    Sorry, know nothing about NZ Invest so can't help there.

  5. #5

    Default First Investment

    Go to www.merlot.co.nz and have a look at what they offer, very appealing to first timers and experienced investors alike.

  6. #6
    Join Date
    Dec 2003
    Location
    Wellington
    Posts
    475

    Default Re: First Investment

    Quote Originally Posted by Greengrass
    Go to www.merlot.co.nz and have a look at what they offer, very appealing to first timers and experienced investors alike.
    Hmmm - I know nothing about them but I would be wary of the one stop shop approach . I would want at a very minimum my lawyer and my valuer involved. Their professionals havea motivation to be on the right side of "merlot" rather than you. I'm not saying its dodgy - just make sure you seek independent advice.

    Also any investment works much better if you understand the risks/benefits and how that fits with your individual circumstance - the best person to know that is you- read a lot and become informed so if you go with a one stop shop you know what you are getting into. For example aI believe from valuers that new build homes tend to stay still or drop in value for the 1st few years relative to existing homes in the same area ...

  7. #7
    Join Date
    Jun 2005
    Location
    Mt Maunganui, NEW ZEALAND
    Posts
    1,463

    Default

    Hi Gareth

    Why are you wanting to buy investment properties?

    Quote Originally Posted by Austin
    I though previous postings would suggest it would be better to purchase outside of the area you live, though not too far away.
    Ok, please explain.

    Regards,
    Marcus
    "There are two things we should give our children, one is roots, the other is wings." Hodding Carter
    Tauranga Property Investors Association

  8. #8
    Join Date
    Feb 2004
    Location
    Newcastle-under-Lyme
    Posts
    3,066

    Default

    Also Merlot keep emphasising the tax advantages of property ownership, always a worrying sign.

    Especially when they say that interest rates may go up, but look on the bright side you will save more taxes!

  9. #9

    Default

    Thanks everyone for your feedback.

    I have contacted Merlot and must say they were very helpful. Might not be the right way to go but if there is one thing I have learned so far, it is not to rush in.

    The reason I want to get into property is to utilisie the equity in our home. The way I see it, it is just sitting there doing nothing.

    I would prefer to buy local I suppose as I know the area, but Auckland is okay.

    Any more help would be great.

    Time to study I think!

    Gareth

  10. #10
    Guest

    Default

    I'd be careful about Merlot.


 

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