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5 Rules for real estate investing in the bay of plenty blog by connect realty

5 Rules For Real Estate Investing In The Bay Of Plenty

5 Rules for real estate investing in the bay of plenty blog by connect realty

There are actually many rules for real estate investing, so many that we could probably write a Connect Realty property investing book!  However, these are some of the key rules that we think you should consider when you are about to purchase your first investment property.

 

1. Goal Setting

 

We recommend you set specific goals for your property investment, or investment portfolio. This isn’t your wish list, but rather clear and detailed goals that you want to achieve by purchasing property as an investment.  Be smart about these goals, and remember that property should be a long-term investment.  Things to consider include the number of properties you want to acquire, your annual return on your investment properties, type of properties you want to own etc.

 

2. Knowledge

 

Educate yourself.  The more knowledge you have about the location, the market, future council plans etc, the better informed you will be and the more likely you will succeed.

Our years of real estate expertise in the Bay of Plenty property market, including Tauranga, Mt Maunganui and Papamoa, means we can give you key advice about what areas are growth areas, where there is high demand for rentals, the types of rental returns you can expect etc.

 

3. Don’t Speculate

 

We recommend you consider your property as a long-term investment.  Even though Auckland is experiencing un-seen growth in house prices, you never know when a market will peak.  We think it is wiser to not chase after fast appreciation, but to invest in property where the numbers make sense from the beginning.

 

4.  Find A Good Mortgage Broker & A Great Accountant

 

We recommend shopping around when it comes to arranging a mortgage for your investment property. Mortgage rates are competitive in the current housing environment, so take advantage of this and meet with mortgage brokers to see what they can offer you.  You may be surprised how much this can save you in fees and charges.

 

We also believe a great accountant is key to peace of mind for first time property investors.  Outgoing and ingoing expenses should be managed by a qualified, reputable accountant.  This will become even more important as your portfolio expands. The costs associated with the accountant can be negligible when compared to the savings a professional can bring to the business.

 

5. Use Professional Property Managers

 

We may be a little biased about this, but ask any good real estate investor and they will tell you to never manage your own properties. Property management requires a solid understanding of New Zealand tenancy and landlord laws, good marketing skills, and strong people skills to deal with any tenancy issues.

 

At Connect Realty we provide a high quality property management service to all our clients in Tauranga, Mt Maunganui and Papamoa. We aim to obtain the maximum returns for your investment.  We also have the latest market leading software systems that deliver up to the minute reporting.

 

In fact we are so confident with our service that we offer a three month money back guarantee if client’s are not completely happy!

 

So if you are thinking of getting on the investment property ladder, call Chris for a confidential chat about your needs and goals. Whether you are based in Tauranga or outside the Bay of Plenty she can provide you with local real estate knowledge and the latest rental market insights, as well as discuss Connect Realty’s property management services.  Visit our website for more www.connectrealty.co.nz.

What Property Managers Can Do For You

House for rent picture to illustrate property manager blog

Use a Property Manager for your investment. Photo/ FreeDigitalPhotos

If you have recently purchased an investment property in Tauranga, Mt Maunganui or Papamoa and don’t want the hassle of finding and managing tenants yourself, then our Property Management service is a great option for you. Connect Realty Property Managers let you enjoy the benefits of property investment without the stress.

Why Use Property Managers?

Buying a residential investment property is the first, and often the easiest, step of property investment. Once you have purchased your new property you then need to ask yourself – are you ready for the trials and tribulations of tenancy?

The process of tenanting a house can be more complicated than people appreciate. Firstly, you must advertise, meet and screen people, to make sure you get the most suitable tenants. Next you have to negotiate your way through contracts, agreements, money transactions and more, to ensure you have an appropriate rental agreement with your tenant. Lastly, there are the property inspections and maintenance work that will need to be regularly carried out to ensure your property remains in the state you bought it.

Sounding too complicated? If you’re not careful, managing your own investment property can turn into a full time job. That is why most people hand the management over to an experienced property management company such as Connect Realty.
Connect Realty property managers have a passion for the business, and provide a high quality property management service to clients.

Connect Realty Property Management Services Include:

  • A free Rental Appraisal on the potential rental value of your property
  • Marketing of your property on four web sites
  • A strict selection process involving stringent screening of tenants
  • Landlord Access Portal software that enables online access for landlords 24 hours a day, 7 days a week, from anywhere in the world.
  • Flat fee rate for landlords with no hidden costs.
  • Regular property inspections using Inspection Manager software to take photos of a property, add comments, and update new information – including any maintenance requirements. This information is then used for ongoing routine inspection
  • And much more.

    Choose Connect Realty

    Connect Realty provide a professional property management service to clients in Tauranga, Mt Maunganui and Papamoa. The are registered with the REAA and licensed and also members of REINZ. They will obtain the maximum returns with minimal expenditure, making sure your investment is not under rented. In fact they are so confident that you will appreciate their service that they offer a “3 month money back guarantee” if you are not completely happy.

    So call them today to get the most out of your property investment – 0800 333 221