Have you dreamed of investing in property, but aren’t sure where to start? Maybe you think it couldn’t possibly be an option for you.
Chances are, you are wrong.
There is every possibility that you could invest in property and even achieve financial freedom with the right advice. Let’s look at what the first steps might be, what you should be considering, and how you can make it happen.
What Are The First Steps?
Many people think they need to have bucket loads of money in the bank to invest in property. But that is not the case. With the right strategy and knowledge, there are ways to get on the property ladder without a huge deposit.
When it comes to property investment, there are two key factors. The first is that you need to have a goal for what you are wanting to achieve. Why do you want to invest in property and what are you looking to achieve?
The second thing is that you need to be able to take action when the time is right. Many people stall at this crucial stage. They get stuck in the process of preparing, where they equip themselves with all of the knowledge they think they need. They read the books, they talk to established property investors, they attend seminars and get bogged down in the detail. But they don’t take any action.
So how can you set the right goals and prepare yourself to take action?
The fastest and most productive way to help you reach your goals is to use a Property Coach. But you have to be mindful when choosing a coach. There are many that don’t have the level of knowledge or experience that is required.
You need someone that understands your local property market. Ronovationz is a property group that has over a billion dollars of properties individually owned by its investors. Our investors did not start out as property moguls, most entered the market as complete novices. They listened to our advice, and alongside our expert coaches, they made smart investment decisions.
What You Should Consider…
If you want to try and make a quick buck, then property investing is not the right choice for you. Investing in property is a long-term plan, not a get rich quick scheme. That means you don’t want to buy and flip property simply for cash flow. The best way to build financial independence is to buy a property below its value, then add value by renovation or extending. Holding a property will mean that you build equity and increase the rent and valuation.
It is important to be able to invest in areas that show the best capital growth and return in terms of yield. That area might not necessarily be where you live. You choose to live in a certain area due to the lifestyle that it offers, but lifestyle doesn’t always show a good return.
If you are investing in a property, then the location is vital. We wouldn’t recommend investing in a remote area like Stewart Island – but you may choose to live there. The better investment opportunity lies within the central suburbs of Auckland.
Why is it a better investment? In a nutshell, there is a constant of shortage of supply in Auckland and an increasing demand. Auckland is the only area in New Zealand that has a population of more than half a million people, in fact, it has 1.6 million people. There is currently a shortage of 70,000 houses in the region. And that is just the current situation.
New Zealand has 1.04 million Baby Boomers who will all be moving into retirement within the next 10 years. Those retirees will need to be replaced by working people, but there is going to be a shortage of beds available. Auckland can only go into a housing boom to meet the demand as retirees continue to leave the workforce to enjoy retirement.
The most important thing in anticipating the housing crisis is to take action to invest in your own personal retirement.
How You Can Make It Happen
Property investment does not have to be a scary unattainable goal. To get started, you only need a couple of things. First and foremost, you need a job – a steady and regular income. Secondly, you will need to have some form of a deposit or equity in your current home.
Don’t be put off by this last point, as you might need less than you think. It is possible to buy a home with only a 10% or a 15% deposit. This can be done in a number of ways, the most common being with the support of your parents or family using the equity in their own homes as guarantors.
As we have mentioned above, the safest way to invest in property is to utilise the expert advice of a property coach, just like the team here at Ronovationz. Without the right advice, mistakes can happen. Unsuitable property can be bought for emotional reasons, or purchased in the wrong area.
Our coaches will hold your hand throughout the entire process to make sure those mistakes don’t happen. That includes strategising for your goals, analysing properties, helping to negotiate on them or going to auction, then finding the best way to add value. We have a team of personal coaches, trainees, and professional people who all own properties themselves. You can be certain that we don’t give taxi driver advice.
Who Are We?
Ronovationz is a property education and mentoring company which aims to help our students achieve financial independence. Ronovationz is run by Ron Fong who has been investing in the Auckland market all his life. Ron understands the property cycle, supply and demand, and is a baby boomer himself. Ron and the team can enable you to reach your goal through fast-tracking without risk.
It is never too late to start planning for a better future. Failure to plan is effective planning to fail. Which is why we are running a one-day seminar all about planning for your property goals. The seminar is called ‘How to Make Your First $100k in the Auckland Property Market’ and will be held on the 18th August from 10-4pm at Five Knots. You can book your spot by contacting Ron 021888258 or email [email protected]