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Hi all,
I have already posted a few times so not a complete newbie but wanted to share my story with other newbies.
I started investing in the greater Wellington area around 2 years ago. Started with a 5% deposit and a dream of owning 10 properties in 5 years.
So far I have four rental properties and one personal home for me and the other half. I read a few books before starting on this journey and the strategy I go for is buy and hold. Creating positive cash flow rentals is a must. I don't look for anything I can not get at least 10% yield. I have been buying well under GV (Three were mortgagee sales and one was a private that was just about to go to mortgagee). Since starting I have an average of 12.26% gross yield and over 500k in equity. I was very lucky on a couple of properties to get them for well under GV but all required a bit of work which I called in mates as most of them are tradesmen and also did most of the work myself in the evenings and weekends.
Looking at purchasing another before the end of the year to make sure I keep on target. (have to wait until I have been in my new job for at least three months before the banks will look at me)
Have learnt a lot from reading the many posts in here from experienced investors and that has helped a lot.
Thanks
I have already posted a few times so not a complete newbie but wanted to share my story with other newbies.
I started investing in the greater Wellington area around 2 years ago. Started with a 5% deposit and a dream of owning 10 properties in 5 years.
So far I have four rental properties and one personal home for me and the other half. I read a few books before starting on this journey and the strategy I go for is buy and hold. Creating positive cash flow rentals is a must. I don't look for anything I can not get at least 10% yield. I have been buying well under GV (Three were mortgagee sales and one was a private that was just about to go to mortgagee). Since starting I have an average of 12.26% gross yield and over 500k in equity. I was very lucky on a couple of properties to get them for well under GV but all required a bit of work which I called in mates as most of them are tradesmen and also did most of the work myself in the evenings and weekends.
Looking at purchasing another before the end of the year to make sure I keep on target. (have to wait until I have been in my new job for at least three months before the banks will look at me)
Have learnt a lot from reading the many posts in here from experienced investors and that has helped a lot.
Thanks
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