Hello guys.
I'm still new to property investing. I have bought a West Auckland property with parents in around 2002, mortgage 180k. (I was early 20s and parents early 50s) As of now the mortgage is 150k. CV 380K. 380k - 150 k So paper profit 230K.
We missed the pay load around 2007-2008. Right when the news announced global crisis and Bank in America collapsed. I was determined to cash out the same day the bank collapse news came out and hold onto the cash to buy at bottom of the property cycle.
It was lack of knowledge and different opinion between me and my parents. In the end we didn't sell it for paper profit of around 230k.
But anyway, I am here to continue my journey to slow and steady PI.
1/ How to understand Auckland rental market ?
2/ How to understand present and future Auckland desirable places ?
3/ How to understand Auckland city development in the next 5-10 years ?
4/ How to get a loan with low interest rates ? Private lender ?
I'm still new to property investing. I have bought a West Auckland property with parents in around 2002, mortgage 180k. (I was early 20s and parents early 50s) As of now the mortgage is 150k. CV 380K. 380k - 150 k So paper profit 230K.
We missed the pay load around 2007-2008. Right when the news announced global crisis and Bank in America collapsed. I was determined to cash out the same day the bank collapse news came out and hold onto the cash to buy at bottom of the property cycle.
It was lack of knowledge and different opinion between me and my parents. In the end we didn't sell it for paper profit of around 230k.
But anyway, I am here to continue my journey to slow and steady PI.
1/ How to understand Auckland rental market ?
2/ How to understand present and future Auckland desirable places ?
3/ How to understand Auckland city development in the next 5-10 years ?
4/ How to get a loan with low interest rates ? Private lender ?
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