60k, what would you do as a noob?

[n00b_vestor]

Hey, i got 60k and I wanna start into getting my first property to buy and hold.

I have created a set of points i want in a house including ROI, goal rent/mortgage ratio and min rental yield. I have a goal in mind and i think my plan covers that high level.

But i wanted to know what I should keep in mind. My goal is to buy and hold for a min 5 years. Is that right thinking? (mainly cause interest only loans are limited to 5 years i think)

Let me know any tips around negotiating mortgages, offers, making an offer, talking to realtors and how to find the right deals. (currently i wrote some code which scans the web and gives me houses that fall within my search params). How do i identify the right deal? I watched a bunch of BiggerPockets videos on youtube but dont know if US markets relates to NZ.

Thanks

[PC]

Do you have your own place or are you paying rent?
Buying your own place and getting flatmates can be a good start.

[Don't believe the Hype]

5 years is not really a buy and hold period...

by saying your horizon is 5 yrs then you're not looking for a yield play you're likely to be chasing a capital gain.

I think you need to get very clear on WHY you want to be a property investor