SearchGetting into investment
Shane asks:
(updated on Tuesday, February 09th 2016)
I would like to know more about how I can get into investment property. I recently purchased a house in a nice area of Auckland. It had a recent CV of $850,000. However, as with most homes, it went to auction where I paid $950,000.
I paid cash and I have no mortgage. In addition to the house, I have $200,000 in liquid funds that I would like to use to invest in property. I also have an annual saving capacity of around $50,000 (NZ).
I am curious about getting into investment property. I hear you can do all sorts of things such as use equity, etc. But I don't know much when it comes to such matters. For this reason, I am wondering where a good place to start is?
Our Experts Answer:
Congratulations on your Auckland purchase! It appears that you have a reasonable amount of equity and the serviceability to support several mortgages over several properties.
While we still have a couple of years left in the current boom market before it peaks, I would like to suggest the following people (including myself) to help you fast track to build a successful investment property:
1) A property coach to assess your potential, maximise your investing knowledge and to set goals.
2) A lawyer to set up a family trust.
3) An accountant to set up an LTC or ordinary company and for taxation purposes.
4) A mortgage broker to help you with lending.
Build a team of experts around you that are knowledgeable and who, preferably, have investment properties themselves.
Most Read
| Unity First Home Buyer special | 3.99 |
| SBS FirstHome Combo | 3.99 |
| ICBC | 4.25 |
| Co-operative Bank - First Home Special | 4.35 |
| Co-operative Bank - Owner Occ | 4.45 |
| TSB Special | 4.49 |
| ANZ Special | 4.49 |
| ASB Bank | 4.49 |
| SBS Bank Special | 4.49 |
| Unity Special | 4.49 |
| Westpac Special | 4.49 |
| TSB Special | 4.00 |
| Kiwibank Special | 4.49 |
| Kainga Ora | 4.49 |
| Nelson Building Society | 4.59 |
| ICBC | 4.59 |
| Unity Special | 4.65 |
| SBS Bank Special | 4.69 |
| ANZ Special | 4.69 |
| BNZ - Std | 4.69 |
| Westpac Special | 4.75 |
| ASB Bank | 4.75 |
| ICBC | 4.99 |
| Kainga Ora | 5.15 |
| SBS Bank Special | 5.29 |
| Westpac Special | 5.29 |
| BNZ - Std | 5.29 |
| Kiwibank Special | 5.39 |
| TSB Special | 5.39 |
| ASB Bank | 5.45 |
| AIA - Go Home Loans | 5.45 |
| Co-operative Bank - Owner Occ | 5.49 |
| BNZ - Classic | 5.59 |
| SBS FirstHome Combo | 3.29 |
| AIA - Back My Build | 3.34 |
| SBS Construction lending for FHB | 3.74 |
| CFML 321 Loans | 3.95 |
| Co-operative Bank - Owner Occ | 4.99 |
| Co-operative Bank - Standard | 4.99 |
| Heartland Bank - Online | 5.30 |
| ICBC | 5.39 |
| Kiwibank - Offset | 5.65 |
| Kiwibank | 5.65 |
| Kainga Ora | 5.69 |
