Nicol, who owns dozens of properties and advises clients on investing in property, says the perception that landlords are making large amounts of money from their rentals is often far from reality. <\/p>\n
\u201cI do feel bad for the mum and dad investor – they\u2019re probably topping up that property. They probably don\u2019t have a whole lot of cash. They\u2019re probably stressing because the value\u2019s gone down,\u201d he says.<\/p>\n
In fact, he goes a step further. \u201cThey are subsidising people\u2019s rent because they\u2019re topping up, and they\u2019re putting their assets on the line to be able to get ahead.\u201d<\/p>\n
However, he is quick to acknowledge it\u2019s not an act of charity. \u201cIt\u2019s not because I\u2019m doing it to get into heaven, I\u2019m doing it because I want money later on.\u201d<\/p>\n
Perhaps surprisingly, Nicol is also comfortable with having to pay tax on that future gain. <\/p>\n
\u201cI actually think there should be a capital gains tax. I\u2019ve got no problem with that. I could stomach that a lot more than paying more tax from a week-to-week basis.\u201d<\/p>\n
The New Zealand property market has experienced one of the deepest and longest property downturns in modern history, and reports that property investment is dead have been rife. <\/p>\n
Nicol says while he understands why some people have concluded that he still has faith in it as an investment option. <\/p>\n
\u201cProperty\u2019s not the solution for everyone, but for most people in New Zealand, they don\u2019t have a lot of cash. They don\u2019t have hundreds of thousands of dollars in the bank, but what they do have is equity.\u201d<\/p>\n
He says those who can access that equity and have the stomach for it should not dismiss it. \u201cIf it\u2019s not property investment, what are you going to do for your future self?\u201d<\/p>\n
Watch or listen to the full episode of The Prosperity Project<\/a> for more.<\/p>\n The Prosperity Project is hosted by Nadine Higgins, an experienced broadcaster and financial adviser.<\/p>\n Follow the show at iHeartRadio<\/a>, Apple Podcasts<\/a>, Spotify<\/a> or wherever you get your podcasts. New episodes are released every Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"Nicol, who owns dozens of properties and advises clients on investing in property, says the perception that landlords…\n","protected":false},"author":2,"featured_media":488780,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[20251,53893,245111,17516,307,7643,6871,3339,78,5933,321,225,111,43,139,131792,69,18154,10903,3263,57390,814,20586,181285,15508,312,6100,223,8229,2963],"class_list":["post-488779","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-zealand","tag-andrew","tag-bag","tag-bestknown","tag-deserve","tag-dont","tag-faith","tag-has","tag-housing","tag-in","tag-investor","tag-investors","tag-market","tag-new-zealand","tag-news","tag-newzealand","tag-nicol","tag-nz","tag-political","tag-popular","tag-project","tag-prolific","tag-property","tag-prosperity","tag-punching","tag-residential","tag-says","tag-still","tag-the","tag-they","tag-zealands"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/488779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=488779"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/488779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/488780"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=488779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=488779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=488779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}