Steve Goodey of PropertyTutors rightly pointed out on Facebook recently the luxury end of the property is not a given for property profits. He was referring to a NZHerald news item on the sale of Sir Peter Jackson’s two luxury apartments in New York.
It seems spending millions on purchasing property doesn’t necessarily offer up much in the way of a profit on a sale even if you hang onto the property for years. Sir Peter Jackson
Purchasing the properties in 2008 Sir Peter Jackson is getting his money back and little more. So where are the profits in property? We can’t tell you much about the New York market but we know what’s going on here in New Zealand.
Steve Goodey and Sean Wood of PropertyTutors have been active property investors and mentors for years. They know their respective markets very well and they have just released another eBook – this one is a must read as it details their mentoring students deals – this is where the profit is at!
And once you’ve read the book you can book to attend their one day event – The Masters May 2014 and learn first hand how their mentoring students have found the property deals that return a profit.