hi guys first time investor just looking to invest to get in the market. I only have 450000 approved at this stage. I am an electrician just wanting to see what everyones thoughts are on mangere vs manukau vs papakura. Or if there are some other areas i should be looking? and also a do up vs something decent that i could get more rent for?
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You could buy 4 places in Hastings or Rotorua, 3 in Dunedin or Napier, 2 in Nelson, even 1 1/2 in Chch. Yields will decrease from left to right as a guide. Others will be able to comment on other areas.Plan and invest wisely - You only get one life so make the most of it!
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Yeah guys, I think he's talking about buying in Auckland periphery since he lives there.
How on earth would he buy and manage 4 properties in Hastings SI?
coronaxl: I think if you are new to this you should join APIA and read some books. Also drive through and around the areas you mention (if you haven't already).
I'm bullish on Papakura, and own property there, but others will have different ideas.
Regarding do-ups vs tidier places, it really comes down to whether you have the time, skill and expertise to do up a place. If you have, go ahead. Just be sure you're paying a price that reflects the work that you'll have to do and then some.Squadly dinky do!
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