Hindsight is a great thing, and my comment about whether or not they did the right thing is based on todays market conditions.
Nobody knew that the Akld market was going to take off after the GFC like it has, nobody could predict that property values would slump then fire up after an earthquake in Christchurch.
For someone dipping their toes into property investment for the first time I personally think they have over committed.
How do we not know that Whangarei will take off once the holiday highway is completed or once Marsden Point is really firing? I hear that they already bus staff from Whangarei into Marsden Point as there is not enough accommodation around Ruakaka.
I was told 9 months ago that our dairy prices would drop because of the competition in Europe and that same person told me that house prices would come back if not drop so best to sell the rentals and to invest the money into our construction company building smaller more economical homes to meet the market.
How can it make financial sense to buy a house for mid $800k spend $80k renoing it and then rent it for $680 week? North Shore Auckland.
Nobody knew that the Akld market was going to take off after the GFC like it has, nobody could predict that property values would slump then fire up after an earthquake in Christchurch.
For someone dipping their toes into property investment for the first time I personally think they have over committed.
How do we not know that Whangarei will take off once the holiday highway is completed or once Marsden Point is really firing? I hear that they already bus staff from Whangarei into Marsden Point as there is not enough accommodation around Ruakaka.
I was told 9 months ago that our dairy prices would drop because of the competition in Europe and that same person told me that house prices would come back if not drop so best to sell the rentals and to invest the money into our construction company building smaller more economical homes to meet the market.
How can it make financial sense to buy a house for mid $800k spend $80k renoing it and then rent it for $680 week? North Shore Auckland.
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