Hi All,
A newbie here.I have recently discovered this forum and think its fantastic,so thank you to everyone for taking the time to post & share advice.
My hubby & I have recently moved back to NZ from Australia with $100,000 in savings & are looking to step foot on the property investing ladder.
We are deliberating 2 options.
Option 1
Invest the whole $100,000 into a $700,000-$800,000 house & and turning it into a holiday rental.(my friend manages holiday rentals in the area) and we are estimating a 70% occupancy at $500 per night.
Based on my calculations we would stand to gain $60,000 per annum or in the case of a 50% occupancy $28,750,which we would put back into the mortage repayments.
Option 2
Finding 1 or 2 cheaper cash flow postive properties and renting them out.
We currently live rent free and have no debt,although only have one income at the moment as our 1st baby is due soon.
Any advice would be much appreciated,should we go all out or start small?
Thanks
A newbie here.I have recently discovered this forum and think its fantastic,so thank you to everyone for taking the time to post & share advice.
My hubby & I have recently moved back to NZ from Australia with $100,000 in savings & are looking to step foot on the property investing ladder.
We are deliberating 2 options.
Option 1
Invest the whole $100,000 into a $700,000-$800,000 house & and turning it into a holiday rental.(my friend manages holiday rentals in the area) and we are estimating a 70% occupancy at $500 per night.
Based on my calculations we would stand to gain $60,000 per annum or in the case of a 50% occupancy $28,750,which we would put back into the mortage repayments.
Option 2
Finding 1 or 2 cheaper cash flow postive properties and renting them out.
We currently live rent free and have no debt,although only have one income at the moment as our 1st baby is due soon.
Any advice would be much appreciated,should we go all out or start small?
Thanks
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