More than 500 people gathered in The Langham, Auckland over the weekend for the Property Masters event to meet property investment mentors: Sean Wood and Steve Goodey of PropertyTutors. Sean set up PropertyTutors in 2008 to mentor property investors in the property trading strategy.
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It’s that time of year when property investors get ready for PropertyTutors’ one day property investing event called Property Masters. The event is held in Auckland and Wellington twice a year and it’s always popular among property investors. While the event’s format remains the same each time, the content is up-to-date and the event provides property investors with real examples of the buy-renovate-sell strategy called property trading and the latest on property funding and accounting from renown professional services firms.
Investors are making their own luck in the regions and in the least popular suburbs of Auckland. Property values have sky-rocketed pretty much everywhere in Auckland however there are investors still buying properties under market value. They are just not in the popular suburbs and the properties need a bit of work.
Successful property investors have a few traits in common and not just with each other but also with professional sports and career professionals. While most of us look for shortcuts, arguably successful property investors want to learn and improve their systems by completing the entire process. Their obsessive attention to detail motivates them to analyse, learn, develop skills and acumen they can use time and time again so they achieve better results every time. Practice makes perfect is their motto.
Let’s start out with the differences between a mentor and a teacher then we can apply what we know to property investment.
Understandably a mentor and a teacher are easily confused as one in the same when in reality they are quite different and achieve quite different outcomes.
Tired, run down properties are in abundance throughout New Zealand. Some are inhabited, a lot are not and realistically none of them would pass a Warrant of Fitness test. Typical owner occupiers ignore these properties when they are listed for sale. Thankfully they are being snapped up by the property investors on PropertyTutors’ The Masters mentoring program.
If you’re considering investing in property, knowing where to buy is vital. Regions can be hot and cold depending on what’s happening economically.
Auckland as we know is the leading economy in New Zealand and it’s real estate is in hot demand so is it the place to invest?
John Key was sworn in as Prime Minister yesterday and top of his list of things to do was the revamp of the Resource Management Act (RMA).
The RMA revamp has been quite contentious with environmental NGOs protesting and National losing the support of their coalition partners United Future and the Maori party.
Is there such a thing as ‘perfect timing’ or perfect market conditions to invest in property in New Zealand?
Do we need to hold fire until that time comes? This would be very pleasing for a lot of investors if we all did hold off.
Do you know someone with the property investor mindset?
These people seem to always get it right. Their property deals are too good to be real and they leave you with many questions but few answers. Are these investors just ‘lucky’?
The NZ Government collect half a billion dollars off rental properties in the year ending March 2013.
The Tax Working Group (TWG) suggested back in 2009 that rental property investors have a tax advantage and don’t pay tax. The lack of data collected supported their claim.
There are at least 200,000 property investors with rental properties in New Zealand. This statistic was plucked from new IRD data for year ending March 2013.
So how much tax did these property investors pay that year? How many property investors live offshore? Is foreign ownership really a threat to the property market?