The best spend when renovating for profit: Steve Goodey

The best spend when renovating for profit

Quite often, I am asked what my “top 5 tips” are for renovations and where you’d get the most bang for buck. This is a hard question, because it largely depends on what each property needs.

I tried to answer the question the best I could, in an article I wrote for Stuff.co.nz a few months ago.

https://www.stuff.co.nz/business/117778203/heres-what-to-invest-in-if-you-want-your-renovations-to-put-money-in-your-pocket

Although the market has changed significantly since then, the advice still stands the test of time.

 

 

Continue Reading...

LVR restrictions are gone – what it means to you: Steve Goodey

Original article here: https://www.stevegoodey.com/lvr-restrictions-are-gone-what-it-means-to-you/

Every commentary at the moment, is talking about the Reserve Bank getting rid of the Loan to Value Ratio restrictions.

People are saying it is a good thing for the market, but nobody has yet to explain why.

What does this mean for the investor and for the market as a whole? Is this move enough to “save” the property market from the impending recession?

 

So I grabbed some paper and tried to map out how it would actually pan out for the average property investor with a home plus two rentals. I discovered some interesting results.

I’d appreciate hearing what impact you think this will have – so post something back on Facebook and tell me how you see this going down.

  • Full credit to my cameraman/eldest son for the steady camera work.
 

 

 

 
Continue Reading...

Six Rules to kicking Ass in Life: Steve Goodey

6 Rules to Kicking Ass in Life.

Six Rules to kicking Ass in Life:

 

1, You are your only competition, everyone else is either there to help or slow you down.

 

2, Earn, save then invest then spend.

 

3, Avoid people who are negative sap your time or energy or add no value.

 

4, If you don’t go after it don’t be shocked when you don’t get it.

 

5, Any failure is one more failure closer to your goal.

 

6, Those habitual things you do every day will decide your future.

 

Agree? Disagree? Did I miss any?

Continue Reading...

Save your short term rental: Steve Goodey

Save your short term rental

Original Article here: https://www.stevegoodey.com/save-your-short-term-rental/

If you found this information useful please share it to help other investors.
facebook sharing button

Statistics show that 1 in 5 guests who visit New Zealand stay in Airbnb accommodation. That amounts to 8.8 million nights or 18 percent of the total short-term accommodation market.

It’s no wonder that the wider short-stay/self-book accommodation market neared $400m in revenue last year in New Zealand Alone.

That was of course until New Zealand closed for business this March, effectively ending the international tourist market for the foreseeable future.

Large numbers of short term accommodation suppliers, myself included, had 100% of their future bookings cancel in a few short days. The only saving grace being that some of us had a fairly robust cancelation policy in place to protect us from last minute cancellations, or so we thought.

Unfortunately for us...

Continue Reading...

Marketing buying and selling in a Covid world: Steve Goodey

Original Article here: https://www.stevegoodey.com/marketing-buying-and-selling-in-a-covid-world/

Today I was lucky enough to have Shane Brockelbank from Professionals Real Estate on a Facebook live talking to me about how to market, buy and sell in the Covid-19 world.

I have great respect for Shane’s skills as a negotiator and agent and his insights at this stage are very timely.

https://www.facebook.com/SteveGoodeyPropertyCoach/videos/232596711281057/

 

 

Continue Reading...

Investor Mistakes: Not understanding the risks and downsides.

Not having a Plan B and Not understanding the risks and downsides.

By James Upton

Disclaimer: Nothing is this article is meant to constitute financial advice of any kind, and is the opinion of the author only. Seek professional advice before making any financial decision.

 
 

When I tell people that I am a property investor their response is often;

 

“Oh really, you must be a bit of a gambler… Bet you are hoping the market rises again soon?!”

 

When I hear this response time and time again, I have a little chuckle to myself.

 

In my opinion I could not be less of a gambler if I tried and I have strategies no matter what the market is doing, not simply being a speculator and waiting for it to increase. In all reality, my risk tolerance is very low and I have a number of exit strategies or Plan B, C and D’s for every trade property or buy and hold property I purchase.

 

For example, I just completed a trade in South...

Continue Reading...

Investor Mistakes: Falling for snake oil salespeople - Developers, Educators, Agents

Falling for snake oil salespeople - Developers, Educators, Agents

By Phil

Disclaimer: Nothing is this article is meant to constitute financial advice of any kind, and is the opinion of the author only. Seek professional advice before making any financial decision.

 
 

Stuff-It-Up Strategy

 

I thought I had won Lotto.

 

Or at least the equivalent. I’m in my early 20’s, fired up from reading ‘Rich Dad, Poor Dad’ and listening to Tony Robbins tapes (yes, tapes folks, my early 20’s were a while ago) and attending my first ever property investment seminar.

 

The presenter was no dynamo at all, but the information was exactly what I was looking for. It was the ‘how’ to go along with the ‘why and what’ of Rich Dad, Poor Dad. Brilliant.

 

They outlined exactly how to purchase one of their specially selected ‘investment properties’, along with all of the capital growth projections, tax...

Continue Reading...

Investor Mistakes: Not understanding Counter-Cyclical Investment and FOMO/FONGO

Here's a big mistake property investors make: Not understanding Counter-Cyclical Investment and FOMO/FONGO

 

By Sally McCormack

 
 

 

 

When you are new to trading property, you and everyone around you is making good profits, you feel invincible!

 

This was how I felt leading into the biggest mistake I ever made in my property investing journey.

 

I started property investing in 2014 and in that first 12 months we were in a very hot Auckland market. Vendors were very realistic with selling their properties and first home buyers and investors loved to buy our renovated stock, which resulted in our sale prices increasing as well as our profits. It was like we couldn’t lose! A deal with $30,000 after GST profit would turn into $60,000 easily. It was no wonder that we didn’t see the signs of the market changing, we had dollar signs in front of our eyes.

 

In 2015 The Reserve Bank announced that in October of that year they would...

Continue Reading...

Scared Yet?

Scared Yet?

Most Kiwi's will struggle every day in retirement.

 
 
 

 

Struggle. After working all of your life, you have to 'cut back', count your dollars, and struggle. That is insane. Backwards. Broken.

 
Investing isn't a hobby or something to 'do on the side'.
 

It is a matter of personal security. It's serious. And most people are in denial and apathy about the consequences if they don't invest for their future.

 

It scares us how many people don't get it. It should scare you too.

 

If you want to hear from people who invest successfully and have their financial future (and their future generations') secured through sound long-term strategies, and who are very happy to show you how to do the same, get in touch with the Assetlab team. We will help you get started or keep going the right way.

 

Better yet...Attend the Wealth Accelerator workshop on November 30th in Auckland, it will be a GAME-CHANGER for you! Click...

Continue Reading...

Equity Recycling Techniques for Property Investment in New Zealand

Equity Recycling Techniques for Property Investment in New Zealand

Want to keep on keeping on? Find out how to keep building equity and how to extract it to buy again and again from NZ’s #1 Broker, David Windler. This is very important information!

 
 
** (This video is an excerpt from AssetLab's Masterclass 'Recycling Techniques' taken from Module 2 ) **

 

Click HERE to watch

 

Remember to recycle. It’s good for the planet. It’s also good for your financial freedom!

Now, get ready to go out and invest, and again... and again.

 

When you are ready, here’s how we can help you succeed:

 

Join our Facebook page for free training, updates, and chat.

 

Join us at an upcoming course or workshop. Subscribe to stay in the loop or check out our homepage: Events on our Homepage.

 

Get in touch for a chat about how we can help you with our selections of programs and coaching options.

 

Check out the...

Continue Reading...
Close

50% Complete

Two Step

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.