I am keen to hear from anybody who attended last Saturday’s MasterClass seminar in Auckland. I am working my way through the homework and wonder how many others have taken up the call to action. I found the seminar inspiring and am determined to take action.
So far I have made a decision to sell the 2 investment properties I currently own which have very low yields and start afresh focussing on positive cash flow.
I have found lots of great information on this forum and also lots of ideas on how to do things differently.
[biggrin]Hi Sinead,
I was also at the seminar in Auckland last Saturday,I to found it really inspiring, and good for investors of all levels.
I also realised I needed to pick some momentum again.
At prescent we own investment properties in Hawkes Bay, Taranaki,Hamilton and Auckland. We are now looking to sell our home in Auckland to free up heaps of deposits and then start the ball rolling again.
2 years ago we decided to go for cashflow and found this was easier outside Auckland, the capital gain just followed in these areas, but we had limited time and deposits.We will be looking to take some of the profits on the poorer perfoming properties and reinvest for improved cashflow.
Our plan is to reloacte outside Auckland, and then only work when needed.
best of luck with your investing
Hi Sinead,
We met on Saturday at the seminar.
We are finding it difficult to decide which area to focus on. How are you supposed to know where to begin? We are seeing an accountant on Tuesday to get all of our structures in place and then are keen to start buying, but need to make a choice on which area to target.
It all seems very daunting. We have been visiting the propertytalk.co.nz forums, which have also been a great help. I guess we just read as much as possible then go for it!!Hi Sinead, I attended at the weekend, and really took a lot away from it. I was in the middle of a deal at the time, and after the seminar, learnt a lot more about dilligence. Fortunately, the builders report enabled me to back out of the deal due to needing more $$ spent on it than I wanted to. Like you I’m having a bit of trouble getting through the homework (not helped by the fact I spent monday night in Middlemore with my son who broke his arm !!), but feeling inspired to get out there and do it.
Good Luck
Regards
Wayne
Great to hear from you all. I have also registered on http://www.propertytalk.co.nz. In Auckland I plan to look out west. I have friends who have found some positive cash flow properties in West Harbour. I am also considering commercial althought at this stage I don’t know anything about it except that returns are supposed to be higher than residential. I am keen to invest close to home i.e. Auckland.
I have also considered selling a property I own in Grey Lynn to try to reinvest in areas with a higher yield. The costs to sell are high which is making me think twice about it. I might be better off just using the equity.
Hi Sinead,
Me and my wife wer there too. Steve’s seminar hit the mark just right for us. It changed my paradigm’s and reinforced having our strategy written down and clearer. That way I know where we currently are, and what outcome we want. Buying the profit is definitely harder now, even in the provincial centres, so you have to put on your thinking caps to make the profit.For us we are planning to do property trading to build up some quick cash. We already have a deal on the go. We also attended another 4 hour seminar on Tuesday night by the Ray White Manukau’s principal, Don Ha. I was skeptical at first because of the sponsor but was pleasantly surprised. He made his money firstly as a real estate agent (selling on average 80-90 properties pa for last 11 years or so) then doing trading and developments, plus some buy and holds at the same time. His message was similar to Steve’s and quite simple – TAKE ACTION!!
I agree about the importance of having a strategy written down and having defined, time bound goals. That is the part I am struggling with at the moment. I am finding it hard to settle on one strategy and keep jumping to one idea to the next without following one through. I am desperate to take action so determined to set the strategy and define goals in the next few days. Otherwise I will have fallen into the analysis paralysis trap. Good luck with the deal you have on the go.
Sinead
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