Long read ahead.
My accessible equity is now zero. So we have to start saving all over again. The Mrs has a small stash but its not enough for a deposit yet.
Onto the positives, Im smart and have been a renovate and sell investor in Australia during the 2000-2007 boom. My expected income is between $70-120k and my Mrs earns $70-80k. So we luckily have a viable income between us. I expect we will save approximately for 3 years to get the $300k cash needed to start again. During this time its my personal opinion we will see a major correction in the market, particularly high end.
Id like to think with our income in 3 years, if there is a correction, we can nab a moderately priced house in a "good" suburb in the Taranaki and Wellington areas. Particularly I am interested in buying in the best suburbs stand alones that are still habitable but nearing need of major renovation. I plan to continue to work while I run these projects. Whilst I did a lot of my own work in Australia, Im more interested in quality tradesmen work for the likes of tiling, gibbing, roofing etc. I have the PM skills to run projects on time and within budget. Im very good at landscape design for staging a houses front appeal, so will likely do this work myself but will still sub contract the pathing etc, which I can do, but not to the quality I want to concentrate on. Im over seeing houses simply being flicked for profit, I have a genuine want to improve housing not simply to make a profit, but to make the owners lives more enjoyable and functional.
I am also interested in transitioning careers in 10 years time. I would like to try architectural drafting/technician, possibly civil. Im also interested in studying interior design. These are vocations that I truely believe I would enjoy, I know all jobs suck for stress at some stage so Im not naive to think these will be the "find the job you love and you will never work a day in your life" vocations.
The long term goal being to utilise these skills to make a modest income in smaller cities as we get older but also to use those skills on my own property developments.
So my question is, outside getting a job and saving, what books are a good guide for the NZ market? I have read many generalist books like SMs 0-130 etc in the past, I have a good grasp on most subjects. I lack some knowledge in how to source houses BMV in NZ. In OZ I simply had a network of agents who knew what I was looking for and knew I had cash.
Lastly is there still money for the small time developer in NZ? I have NO desire to join a property group to pay to learn someone elses methodologies (outside affordable books and videos).
Thanks for sticking through the long read.
My accessible equity is now zero. So we have to start saving all over again. The Mrs has a small stash but its not enough for a deposit yet.
Onto the positives, Im smart and have been a renovate and sell investor in Australia during the 2000-2007 boom. My expected income is between $70-120k and my Mrs earns $70-80k. So we luckily have a viable income between us. I expect we will save approximately for 3 years to get the $300k cash needed to start again. During this time its my personal opinion we will see a major correction in the market, particularly high end.
Id like to think with our income in 3 years, if there is a correction, we can nab a moderately priced house in a "good" suburb in the Taranaki and Wellington areas. Particularly I am interested in buying in the best suburbs stand alones that are still habitable but nearing need of major renovation. I plan to continue to work while I run these projects. Whilst I did a lot of my own work in Australia, Im more interested in quality tradesmen work for the likes of tiling, gibbing, roofing etc. I have the PM skills to run projects on time and within budget. Im very good at landscape design for staging a houses front appeal, so will likely do this work myself but will still sub contract the pathing etc, which I can do, but not to the quality I want to concentrate on. Im over seeing houses simply being flicked for profit, I have a genuine want to improve housing not simply to make a profit, but to make the owners lives more enjoyable and functional.
I am also interested in transitioning careers in 10 years time. I would like to try architectural drafting/technician, possibly civil. Im also interested in studying interior design. These are vocations that I truely believe I would enjoy, I know all jobs suck for stress at some stage so Im not naive to think these will be the "find the job you love and you will never work a day in your life" vocations.
The long term goal being to utilise these skills to make a modest income in smaller cities as we get older but also to use those skills on my own property developments.
So my question is, outside getting a job and saving, what books are a good guide for the NZ market? I have read many generalist books like SMs 0-130 etc in the past, I have a good grasp on most subjects. I lack some knowledge in how to source houses BMV in NZ. In OZ I simply had a network of agents who knew what I was looking for and knew I had cash.
Lastly is there still money for the small time developer in NZ? I have NO desire to join a property group to pay to learn someone elses methodologies (outside affordable books and videos).
Thanks for sticking through the long read.
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