In this episode, we discuss whether we agree with Invesopedia's top 10 tips for property investment. The key takeaways are:
- A lot of property investment education (online) is specifically geared towards the US market.
- The US market has totally different dynamics to New Zealand, and the figures, yields and general rules of thumb are totally different.
- This means that when ratios, yields and purchase prices are suggested in these articles you need to take them with a real grain of salt as they may not apply.
- While the 1st tip was to be willing to do your own maintenance, this is a dangerous suggestion for two reasons:
- a) you'll be encouraged to buy near your own home so you can conduct that maintenance. However, that may not be the best decision for your portfolio
- b) if you mess it up then you have greater liability so it is riskier.
If you can, try to find educational material and information that is geared towards property investment in NZ, rather than from overseas.
