Hi Glen,
Sounds like a good plan.
I don’t know Hamilton that well, but you would be wanting to get at least an 8% yield in a reasonable location that tenants feel is a good safe area.
I just bought 2 in Whakatane this year with yields above that but probably wouldn’t want too many in a smaller location like that.
I also have one in Rotorua that was bought a couple of years ago, that is also over 8% and in a good location there, so it is possible. Depends if you want to have them in Hamilton or not.
Fancy software isn’t going to help you no matter where you live Do some research, talk to agents in other locations. When I bought in Whakatane, I talked to one agent on the phone there for an hour or so and learnt all about it and then was confident enough to offer on a property he had subject to viewing it. It was better than I thought after viewing it and the next one I bought through a different agent there and have not seen it.
When starting out though, you do want to spend time researching more and getting to know areas, talk to other investors there, agents, property managers etc.
Sounds like a good plan.
I don’t know Hamilton that well, but you would be wanting to get at least an 8% yield in a reasonable location that tenants feel is a good safe area.
I just bought 2 in Whakatane this year with yields above that but probably wouldn’t want too many in a smaller location like that.
I also have one in Rotorua that was bought a couple of years ago, that is also over 8% and in a good location there, so it is possible. Depends if you want to have them in Hamilton or not.
Fancy software isn’t going to help you no matter where you live Do some research, talk to agents in other locations. When I bought in Whakatane, I talked to one agent on the phone there for an hour or so and learnt all about it and then was confident enough to offer on a property he had subject to viewing it. It was better than I thought after viewing it and the next one I bought through a different agent there and have not seen it.
When starting out though, you do want to spend time researching more and getting to know areas, talk to other investors there, agents, property managers etc.
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