For Grant his love of investing in Auckland Apartments commenced in May 2005. At this time Apartments were not the flavour of the month so to speak – they were being dumped onto the market. Vendors and investors were exiting and Grant viewed this situation as his opportunity to get into the niche investment market as an investor.
Most of us know Warren Buffet’s strategy: “buy when others are selling and sell when others are buying” and although Warren was referring to share market trading, property investment nz is also very much about timing, i.e. the timing of when you purchase your property and when you sell it determines success of the outcome.
Back in 2005 Grant already had a small investment property portfolio therefore he wasn’t completely green behind the ears when he switched his focus to the Auckland Apartment market.
The fundamentals of successful property investment include a stint of thorough research in the market you wish to invest in prior to any actual purchases.
In May 2005 Grant therefore dedicated six months to learning all and everything there was to know about investing in Auckland city Apartments including meeting lots of people in the industry including sales agents, property managers, mortgage brokers, and anyone else who’d pass on their knowledge.
This preparation did not totally buffer Grant from making a few mistakes along the way – if you’re out there giving it your all then part of doing so is making a mistake or two –however the hard work put in by Grant prior to his first ever Apartment purchase did give him the industry contacts and basic know how he later relied on when a few challenges came his way.
Today, Grant is spends more time mentoring other investors than he does working on his own investment property portfolio. It is worth a cool $7.5 million and many of his properties are of course Auckland Apartments.
|For further reading on Property Investment NZ, click on the articles below:
Setting Goals for Financial Independence – click here
Tips for Becoming a Property Expert – click here
Buying Rules for Property Investment – click here
5 Tips to Add Value through Renovation – click here