The Property Academy Podcast

How to Set Buying Rules For Yourself | Ep. 192

21 Mar 2020

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In this episode, we discuss how to set buying rules for yourself. Buying rules are a concept in property investment where you set some restrictions about the sort of properties that you will and won't buy. Because property investment can become emotional, some investors will think 'but, I really like this house' and buy it anyway ... even if the purchase doesn't stack up from a numbers perspective. Setting buying rules before you look at investment properties will save you time because you won't bother looking at properties that don't meet your criteria. They will also make your property portfolio more appropriate for you because you're less likely to make a bad buy. You can set buying rules about: Maximum purchase price The amount of work needed to make the property tenantable Whether the property is brand new and requires a lower deposit, or an existing property Where the property is located, i.e. in a city near you or whether outside of the city you live in The gross yield or net yield you want to attract The projected capital growth you think the property will achieve And many other potential buying rules. We also mention the Property Investor Quiz. This 7 question quiz will give you a 'yes', 'no' or 'maybe' answer about whether you are in the financial position to invest in property.

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The Property Academy Podcast

How to Set Buying Rules For Yourself | Ep. 192

This episode hasn't been transcribed yet

Other episodes from The Property Academy Podcast

The Couple Who Could Retire Tomorrow⎟Ep. 2473

They Thought This Deal Would Make Money⎟Ep. 2472

The Co-Ownership Problem Nobody Sees Coming⎟Ep. 2471

"Should We Cut and Run?" A Retirement Property Dilemma⎟Ep. 2470

The Bank Said No ... They Got The Deal Done⎟Ep. 2469

5 Reasons Not To Invest In NZ Property In 2026⎟Ep. 2468

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