Experienced investor: Papakura

Read our interview with experienced residential property investor Ross Pullan, who owns five rental properties in Papakura and has been investing in property for over ten years.

Number of investment properties: Five

Property descriptions: Two 3-bedroom properties and three 2-bedroom properties. Mix of houses and units, all with one bathroom each

Location of properties: Papakura

Name of Property Manager at Barfoot & Thompson: Peggy Fell, Papakura

When did you purchase your first property?

2002

When did you purchase your last property?

2008

Why do you invest in property?

Retirement income, as it is one of the safer investments, as has been proved over recent years. I have known acquaintances who have invested in companies or shares and have lost a fair amount of their money in the process.

Which one has been the most successful investment and what has made it successful?

The first rental property that I purchased has been my most successful, due to time in the market. Original purchase price, increase in weekly rental, plus the amount of principal paid off is the reason this has been a good investment.

Do you have any other investments, other than residential property?

A few shares.

Do you have a specific philosophy for property investment (or investment overall) that you follow?

Buy and hold. I purchase property with the view to keep permanently. In other words I don’t sell. Although at times I question my sanity in being a landlord. When this happens, you need someone there for support, someone with like minded goals.

What are the key things you look for when investing in property?

Location, price, rental return.

Do you use a property manager for all of your investments?

Most of my rentals are handled by Barfoot & Thompson. It makes it easier - not having to deal with tenants. Over the years I’ve had some good tenants, some bad ones and ones in between. A rental manager sands out the rough spots.

What is the most important lesson you have learned during your property investment journey?

Try to enjoy the journey. You will meet some nice people along the way. Some of your tenants you will miss when they leave and some will make you wonder why you bother being a landlord. Just remember that property is a long term investment, things will become easier. You don't have to be crazy to be a landlord, but it helps a lot.

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