Experienced investor: Miguel Menezes

Miguel Menezes is a salesperson at Barfoot & Thompson New Lynn. His portfolio of 14 properties is worth $9 million.

Number of investment properties: 13 (plus my family home)

Property descriptions: All are stand-alone houses except one which is a unit.

Location of properties: Glen Eden, Sunnyvale, Ranul, Massey, New Lynn, South Auckland.

Would you like to take part in our investor interviews? Email syu@barfoot.co.nz.

When did you purchase your first property?

In 2005, I came to New Zealand from India. I didn't have enough money for a deposit for a first home, so I took up courier driving for a year. My days started at 4am and ended at 9pm. It paid off - I managed to save $20,000 for my first deposit. 

In 2006, I bought my home in Glen Eden for $332,000. I still live in this property, but it is now worth $980,000. 

After five years of "forced saving", in 2011 I paid a $40,000 deposit and bought my first investment property in New Lynn for $165,000. I knew that the area was up-and-coming and would soon become a hub. The unit is now worth $500,000.  

When did you purchase your last property?

Between 2011 and 2013, I bought eight properties in Sunnyvale, Clevedon, Ranui, Massey and other parts of South and West Auckland. 

I have since bought five more properties, using a combination of cash and equity, with the most recent purchase being in April of this year. 

Why do you invest in property?

Within my first nine months in the country, I realised that Auckland real estate was where it was at. I invest in property because I know that historically, property values always increase in the long term. 

    Which one has been the most successful investment, and what has made it successful?

    1/38 Borich Road, Sunnyvale. The value has since risen at least three times since I bought it about 8 years ago. 

    Do you have any other investments other than residential property?

    Just four cars and two motorbikes. I only buy second-hand vehicles. 

    Do you have a specific philosophy for property investment (or investment overall) that you follow?

    Keep your pulse on the market. Use your common sense and not statistics when buying an investment property. 

    What are the key things you look for when investing in property?

    Capital growth, rental income, good location for future first home buyers in case I need to sell. 

    Do you use a property manager for all of your investments?

    I use a property manager for 10 of my properties. The rest I manage myself. 

    What is the most important lesson you have learned during your property investment journey?

    Buy when the market is low and make sure you have a positive cash flow. Also, use a good property manager as that makes all the difference. 

    May our readers contact you with their property enquiries?

    They certainly may. You can find my contact details here

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