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Bad investment habits you should toss right now

Monday, April 30, 2018


Let's be honest, even the most prolific investors get into the occasional funk and stuck on some pretty bad habits. Don't worry. Good practices are just as easily habit-forming as bad. Start by doing a quick stocktake on how you have been investing to identify any areas of weakness or poor practices that can be improved on. We have got together with some good friends of ours to tease out the most common and obvious investment no-no's you should get rid of, pronto!

 

Ryan Smuts, Kris Pedersen Mortgages & Insurance

Analysis Paralysis! Don’t get bogged down on analysing deals, it’s best to just get in there if it suits you and fits your buying rules, because the longer you wait, the more likely you are to lose out. 

 

Andrew Bruce, APIA

 

Don’t buy on emotion, know/research the value of what you are buying.


 

 

Peter Lewis, APIA 

Take your time to select the right tenant for your property. Take time to check them out through TINZ, take the time to check their references, take time to talk to them and understand their attitude to life.

A tenant in a hurry to move in represents a danger signal. Why are they in a rush to leave their current tenancy? Why is their current Landlord keen for them to go? If they need to give appropriate notice where they are now and then move across to your property in an orderly and businesslike manner, that probably is the tenant you want.

 

Nazla Carmine

Thinking you can just Set-And-Forget your portfolio because you have property managers, fixed-term tenancies, insurances etc in place. Things always come up, especially when you’ve got more than a couple of properties and if you’re unavailable or uninformed, you’re more likely to be making poor decisions or slow decisions which can cost you over time. Life’s busy but keep up-to-date with what’s happening in your portfolio.

 

John Paynter

Doing joint ventures (particularly with family) without having dispute resolution and termination clauses.

 

 


Ever reversed any detrimental bad investment habits? Share your experience below, tell us how you are investing better today!

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The Tenancy Practice Service and TPS Credit Control work closely with the Auckland Property Investors' Association. Our vision of bringing helpful resources, documents and high quality services to Auckland Property Investors and Property Managers is shared by APIA, so its a partnership that works well. 

The Auckland Property Investors' Association is a great organisation for those who want access to advice and information from a range of industry experts and partners. 



Mathieu Holt- Managing Director, The Tenancy Practice Service & TPS Credit Control
Through the Association I found the channels and methods to fund the purchase of property I never dreamed about. Grant Brown

All round it has been one of those things Neil and I felt was really worthwhile belonging to. We have learned so much it has just built our confidence in what we are doing.

Janice Bieleski
I read two articles in the monthly magazine that saved me over $5,000. That is my membership fee for the next 26 years and I am sure I will learn a whole lot more! John Duncan
Fantastic organisation. The networking opportunities are brilliant and provide us with information and opportunities that cannot be obtained anywhere else. We learn something new at every meeting and we've been in this game for nearly 20 years. Pauline and Gyanen Kumar

I find the information obtained from various APIA meetings very useful in guiding my own property investment and rental management.  I also enjoy the networking opportunities with like-minded investors.  I am inspired by other investors’ success and find the more experiences and knowledge that I share with others, the more confident I become.  

Thanks to all APIA event organizers and administrators for your brilliant work. 

Stella Shao

I like talking to people and learning from their experience because it gives me the confidence to invest well. I think it is a knowledge thing. I now know I am doing things the right way.

Stephen Weatherall

My APIA membership has become a total success.

Every time I attend a monthly or regional meeting I come away with so many useful and positive tips that have added value to my property investments and management.

Not only that, the website is a great place for practical advice and useful information. It has now evolved into an important resource for my business.

Talk about value for money! The discounts I have been getting at Bunnings when I present my APIA membership card have more than paid for my annual subscription!

Tim Duffett, Plan A Investments Limited