I am new to property investing (haven't yet purchased) and I am still researching - reading, talking, looking. I would appreciate anyone's comments on investing in Christchurch, and whether or not I am on the right track.
My intention is to buy and hold, and to start off with one property, to get a "feel for things", before progressing.
From my research and intuition I have found that it would be best to buy according to the following principles:
1) Permanent material - brick or block, to reduce maintenance costs
2) Buy in a middle-decile area - low-decile may give positive cashflow, but low capital gain (and possibly high tenant turnover), while high-decile could be highly negatively geared.
3) Buy a block of units - economies of scale when it comes to maintenance.
4) Buy good quality - not older than 15 years
5) Seek and pay for good advice.
Some questions:
1) What are the pros and cons of purchasing over-60s units?
2) My hunch is areas such as St Martins, Dallington, Bishopdale, due to proximity to shopping centres, bus routes, schools etc - is this a sensible hunch?
3) On the above assumptions it appears I am unlikely to achieve positive cashflow, but should get reasonable capital gain?
Enough for now. Any contributions appreciated, thanks
My intention is to buy and hold, and to start off with one property, to get a "feel for things", before progressing.
From my research and intuition I have found that it would be best to buy according to the following principles:
1) Permanent material - brick or block, to reduce maintenance costs
2) Buy in a middle-decile area - low-decile may give positive cashflow, but low capital gain (and possibly high tenant turnover), while high-decile could be highly negatively geared.
3) Buy a block of units - economies of scale when it comes to maintenance.
4) Buy good quality - not older than 15 years
5) Seek and pay for good advice.
Some questions:
1) What are the pros and cons of purchasing over-60s units?
2) My hunch is areas such as St Martins, Dallington, Bishopdale, due to proximity to shopping centres, bus routes, schools etc - is this a sensible hunch?
3) On the above assumptions it appears I am unlikely to achieve positive cashflow, but should get reasonable capital gain?
Enough for now. Any contributions appreciated, thanks
Comment