tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, November 1st, 10:39AM

News

rss
Latest Headlines

Boarding house business success

From a tiny deposit to a full-time landlord, it’s been a successful journal for the NZPIF’s landlord of the year – and now he’s sharing his story.

Monday, December 18th 2017, 10:00AM

by The Landlord

NZPIF 2017 Landlord of the Year Kerry Beveridge and his family

If cash is king, no wonder Kerry Beveridge, who is profiled in the latest NZ Property Investor magazine, is on top.

He’s just been named the NZPIF’s 2017 Landlord of the Year and his City Boarding House was a finalist in this year’s South Canterbury Chamber of Commerce Emerging Business Award.

Beveridge and his wife have turned a relatively small amount of money into a thriving business – successful enough that he’s now a full-time landlord and investor.

As a young New Zealander entering the workforce, Beveridge soon realised that working for someone else could be frustrating.

“I had a few bosses that weren’t necessarily the best,” he says diplomatically. “I needed another plan that wasn’t reliant on employment.”

His mum had always dabbled in property investment and he thought that perhaps that could be a way for him to someday become his own boss.

After doing his OE, Beveridge was living in Christchurch with $5,000 in the bank and decided to buy a rental.

Struggling to find an affordable house in pre-quake Christchurch, he cast his net wider.

He realised that he could buy a house in Timaru for $100,000, yet it would rent for about the same amount.

Heading to Timaru, he found a run down two bedroom house which had been “pretty well butchered” by the vendor.

Borrowing most of the deposit on his credit card, Beveridge bought the house, renovated it and turned the two bedrooms into three small bedrooms.

That house was not only the beginning of Beveridge’s property investing career – it also resulted in him meeting his wife and starting a family.

He and his wife now own five family homes, a two unit block, a four unit block and the City Boarding House.

Property has been good to him, he says. It has found him a wife, helped him start a family, given him financial freedom and allowed him to quit his day job.

“We treat it like a business. We want to do this, we like this, and we’re trying to start as we mean to continue. It’s easy to look at what I do now and say how lucky we are, but people don’t see the 10 years of  hard work that we’ve done.”

To read more about Beveridge and what he has learned on his property 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.

« Foreign buyers ban bill hits ParliamentFast track for foreign buyers ban »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 5.44 - - -
AIA - Go Home Loans 7.99 5.99 5.69 5.69
ANZ 7.89 6.59 6.29 6.29
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 5.99 5.69 5.69
ASB Bank 7.89 5.99 5.69 5.69
ASB Better Homes Top Up - - - 1.00
Avanti Finance 8.40 - - -
Basecorp Finance 9.60 - - -
BNZ - Classic - 5.99 5.69 5.69
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.94 - - -
BNZ - Rapid Repay 7.94 - - -
BNZ - Std 7.94 5.99 5.69 5.69
BNZ - TotalMoney 7.94 - - -
CFML 321 Loans 6.20 - - -
CFML Home Loans 6.45 - - -
CFML Prime Loans 8.25 - - -
CFML Standard Loans 9.20 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 5.79 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 7.65 5.99 5.75 5.69
Co-operative Bank - Standard 7.65 6.49 6.25 6.19
Credit Union Auckland 7.70 - - -
First Credit Union Special - 6.40 6.10 -
First Credit Union Standard 8.50 7.00 6.70 -
Heartland Bank - Online 7.49 ▼5.65 ▼5.55 ▼5.55
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.00 6.50 -
ICBC 7.49 5.99 5.65 5.59
Kainga Ora 8.39 7.05 6.59 6.49
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 7.75 6.89 6.59 6.49
Kiwibank - Offset 8.25 - - -
Kiwibank Special 7.75 5.99 5.69 5.69
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 8.44 ▼6.39 ▼6.09 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank 7.99 6.95 6.29 6.29
SBS Bank Special - ▼6.15 5.69 5.69
SBS Construction lending for FHB - - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 5.44 ▼5.15 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.75 - - -
TSB Bank 8.69 6.79 6.49 6.49
TSB Special 7.89 5.99 5.69 5.69
Unity ▼7.64 5.99 5.69 -
Unity First Home Buyer special - 5.49 - -
Wairarapa Building Society 8.50 ▼6.19 ▼5.79 -
Westpac 8.39 6.89 6.39 6.39
Westpac Choices Everyday 8.49 - - -
Westpac Offset 8.39 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 6.29 5.79 5.79
Median 7.99 6.17 5.79 5.69

Last updated: 30 October 2024 9:36am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com