Getting into investing
Question from James updated on 21st February 2020:
I am interested in getting into property investment. But I am just starting out and don't know much about it. I don't own any property yet. Can I use my Kiwisaver to buy an investment property? If not, what is your advice on how to get into investing - or get ready to get into investing? (I live in Hamilton and earn $45,000.)
Our expert Kris Pedersen responded:
Unfortunately, at this stage, you can't use your Kiwisaver to buy an investment property although it’s interesting to note that recently the Retirement Commissioner suggested that this rule should be changed.
There are a lot of other things to understand about property investment. But a good place to start is joining your local Property Investors Association (Waikato has a good one) and also by regularly buying NZ Property Investor magazine. From there you'll start acquiring the knowledge necessary to set you on your path.
Kris Pedersen of Kris Pedersen Mortgages is a commentator on property and finance. His team sources top finance strategies. www.krispedersen.co.nz