Thanks Ross. Solid advice. Hadn't thought about the balanced portfolio. Wil lalso check out out your website.
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One thing that surprises me that it's missing is grab one local PI.
Take any number of them out to lunch or dinner (one-at-a-time,
on you). Most of the folks on PT are actually 'doing it.' And most
are more than willing to tell you the tale of their trail. That way,
you can learn from both their mistakes and successes. You could
well start with Flyernzl (who may be embarrassed by his name
being suggested) or a few others well familiar with Auckland.
There's quite a few to choose from. I don't know what area
Speight's Boy is from, but if it's Auckland, put him on your hit
list, too. For now . . .
Start here: Life as a Landlord
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Originally posted by Perry View PostOne thing that surprises me that it's missing is grab one local PI.
Take any number of them out to lunch or dinner (one-at-a-time,
on you).
Most of the folks on PT are actually 'doing it.' And most
are more than willing to tell you the tale of their trail. That way,
you can learn from both their mistakes and successes.
This is my 10th post and I shall now be able to 'ask out' a few of the usual suspects.
BTW are you Auckland based? And would you care to share a meal and your story?
Thanks :-)
Baldy
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If a PT forumite chooses to reveal it, you'll find their location mentioned in
the upper right-hand side of their posts - across from their screen name.
Some have it in their profile, instead. Left click once on their name and
choose (click) on View Profile.
My story is rather odd, generally inapplicable to others and likely boring!
Plus I think I have a very good and very patient accountant: that helps!
My suggestion also applies to someone at your local PIA, who, for some
quirky reason, is not a PT forumite. Takes all sorts.
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Originally posted by Perry View PostMy story is rather odd, generally inapplicable to others and likely boring!
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Have you joined APIA?
They have many great meetings each month.
Often by the same people trying to charge $$ for mentoring.
Plenty of characters with fascinating stories to tell.The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.
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Originally posted by Baldy View PostWhat a great idea Perry!
This is my 10th post and I shall now be able to 'ask out' a few of the usual suspects.
BTW are you Auckland based? And would you care to share a meal and your story?
Thanks :-)
Baldy
(Yes, this is a wind-up, but well overdue!! )Patience is a virtue.
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Originally posted by speights boy View Postor
?????
Draw an 11 km radius around britomart.
Around each rail station or bus terminus with bus lane in this circle draw a 800m radius.
Buy in one of those circles.
Don't buy a leaker.
Don't buy leasehold or cross lease.
Don't buy on a busy road.
Don't buy where it is obvious your primary sun and view can be built out.
Buy with garage.
Have some liquid funds (4 months) for emergency.
Get good property accountant and lawyer.
Ok, hugely simplified, and you need sound due diligence, but it ain't Rocket Surgery.
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My advice for what its worth, hold onto your money until you have a plan that you are happy with. Talk to people, good people, join the APIA like you have, read books. Everyone has there own ideas and some alternative motives, so someones great idea may not work or be for you. When you are happy and then maybe sat down with an accountant with structures then fire away. You are in a reasonable situation try not to blow it. Good start, you are here asking questions.
Good luck.To Sell or Buy Investment Property contact us. 0800 NZ PROPERTY or 021 402990
www.propertyventures.co.nz
*New* Check out our weekly free property show http://propertyventures.co.nz/podcast
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