Ryan Spearman has come a long way since 2004 when he was sitting in a real estate agent's office signing a sale and purchase agreement without even knowing the price of the Avondale house he was buying.
“I just followed what he said I should write down on the agreement. I was probably royally ripped off, but it didn't matter at the time.”
These days he scours the country for blocks of under-rented and rundown units he can renovate and add to his portfolio of 19 units in Rotorua, four in Christchurch and four in Dunedin.
It's a far cry from when the film industry assistant cameraman started out. It's also good for his pocket as his main income has recently been from making television commercials and that's drying up as the media industry struggles.
Spearman's one gripe from his now successful investing is that he spent 15 years in the wilderness, not having taken courses or educated himself on how to find and establish cashflow positive properties. “If only I had known in 2004 what
