Some Auckland property investors struggled to reach their investing goals in 2016. The rule changes on LVR restrictions made it harder to find the 40 percent deposit especially in Auckland where property values are at an all time high. Thankfully 2016 was a good year for my clients in the Auckland Apartments market.
Reviewing the Apartment deals completed by my mentoring clients last year, the $40K+ profits were frequent and purchase prices under $500K. Try finding a two bed standalone property anywhere in Auckland for that price! It’s therefore no coincidence more property investors are ‘seeing the light’ and moving their focus to inner city Auckland Apartments and Units.
Auckland needs thousands of available apartments to meet rising demand. The new developments are sold as mentioned in this article on Propertyblogs so the renovation work my clients undertake on their purchases ensures a fast turn around once the apartment is back on the market for sale.
There’s no waiting around with Apartment investing like some investors experience with standalone property. From the initial purchase the clock is ticking so the renovation moves quickly and sale is realised in as little as four weeks. Some quick calculations of the time taken and profit made per deal confirm there’s a lot of money to be made trading in Auckland apartments.
Successful investing in apartments requires good knowledge of the local market (e.g investing in Auckland inner city vs outside of Auckland) and the ability to crunch the numbers accurately. Property investors secure better deals when they know the area they are investing in intimately. Many of my mentoring clients are property investors with a couple of standalone properties. They tap into 15+ years knowledge of the local market and it saves them hundreds if not thousands of dollars.
Want to find out more about Investing in Auckland Apartments – come to my Cash Flow Apartments Seminar – 21 May 2017