Woman in Focus – Wendy Page
From an abused childhood within a dysfunctional family, this ‘woman in red’ has left that all behind her. After making 2 major life changing decisions, Wendy is now an entrepreneur, property investor and very experienced renovator who’s living her life on purpose and loving it!
Meet Wendy, a New Zealand woman who took control of her own destiny and now lives her life with passion.
The Law of Attraction
Wendy has been attracted to property, finance, and small business since she was 18 but never walked that path until a couple of decades later. “…I simply didn’t know how to walk my own path when I was younger. There was this whole other world out there and I had no idea how to become part of it.”
At 29 and a single mum, she found herself surrounded by women who were facing divorce and financial difficulties. In 1992 Wendy made her first life-changing decision. Seeing the difficulties that women around her were facing, she decided to get herself an education and a career – and into property.
As a professional, Wendy had a big career that gave her status as well as a great income. But despite that ‘success’, her life was still not working for her. Later, she purchased a troubled business and tried to get it back in shape which she achieved, but the experience left her jaded and even put her property portfolio at risk. It was then that she realized she needed to live her life doing something that she was passionate about, which is property investment.
Taking Control of Destiny
Wendy wanted to take control of her own destiny. She knew that property investing is something she is definitely passionate about. And after witnessing other people succeed investing in property, she decided to walk towards that path starting with her own townhouse. Instead of selling her townhouse when she moved to her new home, she decided to hold on to it for a while. After talking to Inland Revenue Department, she then sold it to her first investment company.
Armed with her love for property, finance and small business, Wendy takes on property investment with a positive mind-set. She believes that any challenges can be fixed as long as she has the right attitude. “I focus on having an attitude of Yes! Through a daily commitment to education, networking and having fun everyday.”
Wendy’s second life-changing decision came about just a year ago. Finding herself ‘leverage locked’ she decided to expand her thinking through education and action. Leaving her very supportive husband, her house and the dog and cat behind in Nelson, Wendy has relocated to Wellington to fulfil her destiny. It must be working because in the past year she has managed to complete 4 property deals – 2 personally and 2 for others.
Needless to say her husband is very ‘proud’ to have Wendy on the family team, creating the assets for their long term wealth while he focuses on bringing home the bacon.
Wendy now holds 7 properties in her portfolio, has completed 25 renovations, 2 developments and plans to continue investing in property. Wendy’s uses a buy and hold strategy to build her portfolio and her buying rules include:
- Choosing standalone homes mainly smaller homes that appeal to singles & couples.
- Focusing on the numbers alongside of reality – do the numbers stack up and is there really a demand for this property in this location?
- Focusing on opportunity – how to improve the property, the rent, help the vendor move on, etc.
- Looking at blocks of flats (not single units) because of maintenance and people/body corporate issues
- She also loves big back yards and homes with incomes.
In locating properties, her approach is to make herself an area expert and knowing when to seize opportunity in the market. She also tries to focus on the vendor’s reason for selling to be able to offer a solution that works for them.
Living with Purpose
Now, Wendy feels that her life has a purpose. “I love helping people achieve home ownership and working alongside of vendors and investors. And most of all I just love how many great people I have met and the friendships I have made.”
She also sees herself continuously being active in property investing in the near future, and being involved in learning and travelling more.
Wendy’s Words of Wisdom
- My first question is “What is the investment compared to the rental increase?” I have found that by spending $4500 on a makeover I am then generally able to increase the rent by more than $30 a week i.e., I achieve a 35% return on my $4500 and it gives me a better class of tenant.
- If you don’t know your trades-people then incentivize them to finish on time
- Get real about timeframes – it always takes longer.
- Clean first otherwise the painter will paint the years of dust and dirt.
- Spend your money on the outside before spending it on the inside.
- Use smooth vinyl and surfaces always.
Advice to first time investors
- Invest in mind-set education as you are most likely to be your own weakest link
- Ensure you keep company with kindred spirits.
- 95% of people aren’t investors – don’t expect others (including important others) to share your excitement as you will most likely to be disappointed.
- Life gets in every ones way – learn to stay the course and to look after your long term vision as well as your own financial needs.
- And if you aren’t making mistakes then you aren’t taking action.
What Wendy Says About Property Women
“The whole experience is outstanding. The workshops offer confidence and knowledge and a huge opportunity to benefit from the experience of women who are successful investors. My confidence and passion for how property investment can change women’s lives is shared.”
If you would like to know more about investing in New Zealand follow this link.