As one of the owners of iFindProperty I have many conversations with people where we try to predict the future.

Where can I buy that will really grow in value?

• Will this property attract good tenants?
• Is this renovation going to be worth it?
• Should I buy in this city or the next one over?
• What will interest rates do?
• What will the Government do?
• Will the population grow?

Looking forward, there is always a degree of uncertainty and if you worry equally about every part of a property purchase, you will find it incredibly stressful.

A large part of what I do is help people get a sense of perspective and narrow in on the two to three things (see below) that they need to get right about a purchase (and leave the rest to us).

I’ve been investing for a while now and I believe property and business to be a mental game. You have to take action, sure, but it all starts in your head. When you are projecting forward it is easy to talk yourself out of something that you will regret not doing later.

Property deals can be roughly divided into the following groups.

• Group 1: Big stuff, very important, hard to fix later.
• Group 2: Logistics. Important to get right but can be handled as part of the process. Easily confused with group 1. Don’t let this stop you from investing.
• Group 3: Trivial in the big picture.

When you start, it’s natural to think of every aspect of a deal as crucial, which is why many new investors never buy.

Group 1: Big Stuff

• Does it suit your strategy/criteria – what do you want to achieve from property investment (and by when) Does a particular deal move you towards your goals or sideways/away from them?
• Funding – can you buy it? If you do, what does your future funding look like? It is good to think multiple deals into the future.
• Major structural aspects of the property. Foundations, roof, walls, and so on. For some deals, this might not be a major consideration (if you plan a large project for example).
• Location – hard to change that. How much sun the property gets is another fairly permanent feature.

Group 2: Logistics

• The cosmetic condition of the property and Healthy Homes requirements. Anything can be fixed, it’s just a number.
• The current tenant situation. A good property manager and time helps.
• Availability of tradesmen.
• How far away is it?
• Do you need to get the property managed?

Group 3: Trivial In The Big Picture

• Am I getting the absolute cheapestXYZ (shop around if you want, butbe careful of cheap)?
• The condition of the grounds.
• The cost of due diligence.
• Long-term hassle of future maintenance.
• Extra costs in funding to secure the deal.
• Small variances from buying rules.

I still remember people turning down 7.7% gross yield deals in Auckland in 2011 because their coach said they must achieve 8%.

Did you notice that the second group are issues that can be worked through with the right help, while the third are mostly one-time cost items?

A key reason iFindProperty is ableto consistently help investors, is that we focus the client on the first and
most important group, introduce them to the right team to navigate the second, while giving them a sense of perspective on the third (which comes from experience).

If you are talking yourself out of purchases because of items in the second or third list, it might be time
to step back and have a mental re-shuffle. Working with a mentor or a buyer’s agency to guide you through the process can be the difference between landing a deal and that eternal game of

“it’s just not quite perfect enough”.

iFindProperty is a licensed Investment Property Agency and our clients tell us we are great at helping investors find, analyse and buy great properties to build an awesome portfolio. Our team of Property Finders operate all over New Zealand and each are successful investors in their own markets. Successful investing starts with you and your property goals, so contact us today to talk about whatyou want to achieve and we will put a team in place to make it happen. Contact: info@ifindproperty.co.nz or 0274 866 146.