Apartment Investment Requirements
Apartment Investment Requirements
Research
Research: there is plenty of learning resources online and also in published books and videos teaching you on how to invest in apartments.
Ensure you learn as much as possible to get acquainted with the business before getting started
Set Goals
Set goals: Have a defined reason for indulging in the business. Examples of these goals may include; for cash flow, retirement plan, etc. It will help you to stay focused throughout the investment period.
Choose a location
Choose a location: choose an area with sufficient capital growth; that way you will be assured of capital gain over the years to come.
Make sure the apartment is in the area where there is a lot of demand for rentals i.e Auckland city. The location is key apartment Investment Requirements in NZ
Investment Team
Choose your team: you will need a lawyer, accountant, real estate broker and a valuation specialist.
Choosing a good team will ensure a smooth process, especially for a beginner.
Management Strategy
Have a proper management strategy: As a beginner, it is probably best to hire a licensed property management company to attain the desired results
Exit Strategy
Have an exit strategy ready: Most people invest in property without thinking the process through to the end. These may include; holding long-term for capital gain, refinancing for lower rates or cash out, renovating for profit, etc
Insurance Policy
Insurance policy: taking an insurance policy for your property is very important. It protects you from losses in the events of fire, earthquakes, etc.
Analyse the Numbers
Analyse the numbers: Property investment is a numbers game, ensure that the property gives you positive cash flow. Expenses must not exceed the income.
