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Looking to invest in Auckland

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  • Looking to invest in Auckland

    Hey Guys!,

    Thought I would introduce myself, my name is Tausani I am 23 years old, and am a Newbie investor based in Auckland.

    A little background of myself, I am a working artist involved in Sound Design in Theatre productions, which is my passion. I have a part time job (22 hrs a week) working at a cafe. The pay in the Music scene is not as frequent as the part-time job. Therefore I come under the bracket of low income, and is more of a challenge in terms down payments, but more importantly applying for a mortgage from banks. I also understand that Banks aren't the only form of lending.

    I understand how hot the market in Auckland is, and how it is affecting surrounding towns/cities.

    I have recently been introduced to investing in Real Estate, and everyday I learn something new, the more interested I am about it. But also the more I read about the rules and regulations towards mortgages in NZ the more I feel shunted out.

    Basically I am looking for a start in Investing, and by the looks of things will have to invest elsewhere (not Auckland), maybe virtually?

    One of my goals is to find a Mentor preferably in Auckland that is willing to lend a helping hand to get started.

    What are your thoughts or ideas about how a Newbie like me can get started?



  • #2
    Hi Tausani

    You're making a fantastic start just by considering it and posting your thoughts here. You seem to know what's going on, which is a great start.

    I'd agree that you're probably shut out of Auckland, unless you have family that can help. I got my start just four years ago when I managed to buy a 3-bedroom cross-lease property in Clendon Park (then, as now, one of Auckland's least desirable and thus cheapest suburbs) in the low $200k range. But how things have changed in the last four years.

    Auckland is probably not an option. But there is still plenty of affordable property around the country. The outskirts of Hamilton, or much of Rotorua are good starting points.

    But for now, get saving, and find a way to increase your earnings. Read a couple property books (several recommendations on this forum) and consider joining the Auckland Property Investors Association. I say consider, because it costs something like $300 per year from memory, which may be a bit much for you at the moment.

    I'm sure there are a lot of more experienced people on the forum here who wish they could go back and start considering investments at age 23.
    AAT Accounting Services - Property Specialist - [email protected]
    Fixed price fees and quick knowledgeable service for property investors & traders!


    • #3
      Tausani - I echo Anthony's comments on how to get educated...I'd add don't panic about the hot market. Spend the next year in education mode... Learn everything you can... Ask questions of people but don't just believe what you're told - watch out for the hype sales people out there telling you get in now or you'll regret it.

      Making the WRONG first step by moving quickly due to FOMO could be more harmful to you're long term investing plan than any loss you may see in 12 months time if the houses you're looking at now come back to market at a 5-15% premium.

      There are many affordable investment grade markets in NZ that will deliver different returns over time - as you spend the next 12 months educating yourself of the ins and outs of property investment also spend that time understanding what your 1 - 5 - 10 and 30 year goals are... Understanding this will help you determine what is the right type of investment you want and you can pick a market that helps you achieve your overall life goals.

      good luck