Do Your Homework And Research, Research, Research

Knowledge is power, and it applies to the property investment market. You must know about what the current market is doing, what is happening in the area you would like to buy in and what industry experts might be predicting to happen going forward.

Although this is just an indication, it is essential to understand what knowledge is out there. Knowledge will also minimise any risks associated with buying an investment property. The more knowledge you have, the better choices you can make.

Make sure to utilise such useful online sources as homes.co.nz, QV.co.nz or local council website for rates and valuations. Some information online is paid, and to my opinion, if you’ve done all your homework and are set on a property you’d like to purchase, it is worth paying to get a needed report to minimise risks even further before buying.

Get Friendly With Real Estate Agents In The Area

It is something important in any industry. Local movers and shakers are the best people to give you the right information about what’s going on in their world and what you may look at for purchasing.

‘Local movers and shakers are the best people to give you the right information about what’s going on in their world and what you may look at for purchasing’

Once you understand the market and research the area where you’d like to buy, make sure to then ring around (and meet) a few real estate agents.

If you get them on your side, they should even let you know of prospective properties coming on the market if they don’t have anything suitable for you now. Some real estate agents go above and beyond, and some are born to do this job because they are just so good at it. Ideally, those are the ones you should get friendly with.

If they let you know of quiet properties which have been around on sale for a while and are just not selling, go and see those to understand whether they could be your golden opportunity.

Prepare Financially

It’s all good to research and talk to agents, but you won’t go far without your finances being in check and ready.

You must talk to your bank or mortgage consultant and understand what your capabilities are. Ideally, you should be ready to go for an opportunity any time, so make sure to be financially prepared way before starting to look for a property. You don’t want to miss the perfect property because you couldn’t sort things out on time.

Be Brave And Don't Lose Sight Of The Bigger Picture Here

It takes brave to get ahead, and successful people take risk on a daily basis. That’s what stands them from the crowd. The key is they try their best to minimise the risk and then go for it. Of course, sometimes they lose, but they also win many times.

The property game isn’t for everyone or for the weak-minded, so if you’d like to get ahead and succeed, you have to be prepared to take risks and see a bigger picture.

Try not to follow what others are doing or thinking. If you’re ready to buy and have done your research around the market, etc. don’t hesitate just because half of your friends are sitting tight to wait for the market “to get better”.

Property Ventures is a licensed Real Estate Agency that specialises in Investment property throughout New Zealand. They also have the NZ Property podcast/YouTube series where Mark interviews the property experts from around the country helping hundreds of thousands of investors. He can be contacted at mark@propertyventures.co.nz or 0800 NZPROPERTY (697767) Or watch the Podcast/YouTube video at www.propertyventures.co.nz/podcasts