PHOTO: MARTIN DE RUYTER/STUFF Older New Zealanders have the bulk of the housing wealth.
These days, property investor Steve Goodey doesn’t bother buying anything that isn’t worth at least $1 million.
He now has 30 tenanted properties, including boarding houses, houses with granny flats and Airbnb properties.
He has been investing since he was a young man, first with an interest in one of his parents’ properties when he was 18 – although he says he “squandered” the proceeds of that on beer in Europe and had to start again when he returned aged about 23.
Goodey began with a couple of flats in the Hutt Valley and continued to invest and grow his real estate portfolio until he switched to full-time property investing at the end of his 20s.
Now, he coaches other people into property investment and said he saw a lot of older people who wished they had started earlier.
“The most successful property investors in the last 10 years are probably the wives of successful husbands, or husbands with stable income who are happy to have the wife invest in real estate as a kitchen table project.”
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