MKR star's recipe for property success

Former My Kitchen Rules NZ contestant Aaron Gascoigne is equally at home in the boardroom, the kitchen, the boat – or overseeing his property portfolio.

Friday, August 7th 2015, 12:00AM

by The Landlord

MKR star and property investor Aaron Gascoigne

While his face will be familiar to many from his stint on My Kitchen Rules NZ last year, others might recognise him from his long career in the financial management sector.

However, his property investment journey has, in fact, been his longest-running endeavour.

Starting out with just $10,000 while still a student, over the years he has built up a property portfolio worth over $3 million.

While he was always aware that investing in property could be worthwhile, the payback he now gets from his portfolio has set him up to live an enviable lifestyle.

In the latest issue of NZ Property Investor magazine, we find out about the self-described classic Kiwi bloke’s property journey and what he has learnt along the way.

Get the magazine to read more but, in the meantime, here are his top tips for fellow investors:

• Always be careful and thorough when it comes to doing your due diligence.

• It is worth spending the money for good professional advice, be it for planning, legal or financial purposes. Get the experts in and listen to them. You need to know both your rights and your obligations.

• Getting your numbers right is critical, but don’t under-estimate gut instinct!

• Anything you purchase should have the potential to add value. But always leave some sugar in the tin. So make sure there is something left for the next buyer to do to add value to the property.

• Put yourself in your tenants’ shoes. If something breaks, replace it or fix it and every so often give them a treat and get the property something new, like insulation or a paint job. Your properties are where families live – and they are either paying your mortgage or your income.

• Don’t sweat the small stuff and live every day as if it were your last.

To read more about Gascoigne's property investment journey, click here to get the digital issue of NZ Property Investor magazine.

Subscribe to NZ Property Investor magazine here to get great stories like this delivered to your mailbox every month.

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