Welcome back to New Money Rules! I’m Karin Goss, the Freedom Investor, and today we’re diving into the world of property investment with my guest, Tama Singh. As a young property investor and flipper, Tama shares his journey and insights on how to successfully navigate the property market in a post-pandemic world.
Meet Tama Singh: A Young Property Investor
Tama Singh is a passionate property investor who has made a name for himself in the flipping business. He started his journey with just $4,000 and has since completed 43 property deals in just two years. His story is a testament to the idea that with determination and the right strategies, anyone can succeed in property investment.
Why Property Investment?
According to Tama, property is one of the most reliable ways to build wealth. He cites Andrew Carnegie’s famous quote about property being the biggest millionaire builder of all time. Here are some key reasons why Tama chose property investment:
- No stamp duty in New Zealand, making it easier to invest.
- Property is a tangible asset that everyone needs.
- It offers a level of job security that many other professions do not.
- Property investment allows for personal growth and networking opportunities.
Starting with Limited Funds
Many aspiring investors wonder, “How much money do you need to start flipping houses?” Tama’s experience shows that you can start with very little. He began with just $4,000 and leveraged family support to secure additional funds. Here’s how he did it:
- Identified a low-cost property in Westport.
- Utilised personal loans from family members to cover the deposit.
- Engaged with local tradespeople to manage renovations efficiently.
Building Relationships in Property Investment
Tama emphasises the importance of building strong relationships in the property investment community. He believes that networking with real estate agents, brokers, and other investors is crucial for success. Here are some tips for building relationships:
- Attend local property investment meetups.
- Engage with professionals on social media platforms.
- Maintain loyalty to your team of brokers, lawyers, and contractors.
Strategies for Success
To succeed in property flipping, Tama recommends the following strategies:
- Start small and gradually scale your investments.
- Focus on properties in regions with growth potential.
- Learn the ins and outs of property valuation and renovation costs.
- Always have a plan for financing your deals.
Conclusion: Take Action Today
If you’re considering entering the property market, remember that you don’t need a fortune to get started. With the right mindset, strategies, and support, you can begin your journey in property investment. As Tama says, “Action leads to traction, which leads to attraction.” So, take that first step today!
Call to Action
For more insights and tips on property investment, follow Tama Singh on Instagram at tamasingh. Stay tuned for our next episode where we explore more about money, business, and property in this ever-evolving world.
