Investor Guide: Getting prosperous from property
Whether it’s an expat buying up chunks of coastline online, youngsters getting into their first shonky inner-city apartment, or Mr and Mrs Average watching the value of their suburban abode skyrocket, the property boom has made many New Zealanders a whole lot wealthier than they were three years ago.
Wednesday, December 15th 2004, 6:47PM
by The Landlord
It’s been a phenomenal run and it seems that the silly price gains of the past few years must be nearing completion. But long-term investors know there’s a trick or two to making money out of property even when the market inevitably cools. Andrea Fox discovers the strategies of four “true” property investorsDay dream believer
Frugality and hard work led to Lisa Dudson’s property success
While her teenage schoolmates dreamt of fame and frocks, Lisa Dudson was working three after-school jobs and planning how to be a millionaire by 35. She managed that by the time she hit 35 last year when she was also named the winner of the inaugural Young Financial Planner of the Year.
Dudson has also succeeded in her other teenage goal of owning her own business. She set up Acumen Financial Planning in Auckland nearly four years ago and is about to merge it with a risk management business. She’s the co-author of the best selling The Complete Guide to Residential Property Investment in New Zealand, and a public speaker and tutor on property investment and personal financial planning.
After some heavy selling this year, Dudson is left with about nine properties in Auckland, Huntly and Palmerston North. The profit on a recent sale of an Auckland commercial property with “extremely” strong cashflow guaranteed that she could retire tomorrow, she says. But Dudson doesn’t attribute her success entirely to canny property deals, saying it’s hard graft, good money management habits and a strong independent streak that’s made her wealthy.
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