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  • Advice for complete newbie

    Hi there, i've been lurking on this forum for awhile (on and off) trying to learn but I have two little kids under 2 so life is quite busy!

    I'm hoping for some guidance. I have worked really hard during my 20's and have around 900k to use for investment. Term deposits are very low and I probably will put a chunk in index funds, however I would like to invest in some property. Firstly because I am interested (and have been for some time, again my work and family life have been my main focus lately).

    I do have some time now being on maternity leave to really look at property and manage it. I just don't really know what to start with and what to be looking for in this market.

    I do realise this is a complete beginner question but some advice would be greatly appreciated - even if it's just pointing me to a resource.

    I live in Central Otago but am happy to invest anywhere.

    Thank you!

  • #2
    Managing a residential rental in the NI could be quite a challenge for someone in Central Otago.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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    • #3
      Yes it could be quite hard but if it made sense as an investment I’d be open to it - I’m not hard set on the area I live but obviously would be ideal closer to home. Property managers etc

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      • #4
        I suspect that 'cutting your teeth' on something close to home would be a good initiation.

        The experiences discussed in the Property Management sub-forum do suggest that DIY is a good place to learn / start, before handing things off to PMs.

        Oh. Welcome to the forums, too. Good luck
        Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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        • #5
          Learn all you can about an area ie sales prices, go to open homes, research online re rentals available to check what’s on offer etc.

          Once you know what your money can buy and the yield you’ll be confident to put some offers in.

          Do-ups are great if you can afford the downtime before renting it out.

          Would you do the work yourself? Again you need to know what you’d be in for re. Costs to renovate vs reward ie increase in rent rate and property valuation.

          As Perry says there is lots of information on PropertyTalk and members willing to provide point you in the right direction.

          cheers
          Donna
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