Im a young working adult, just started out working 2 years ago. Last year I purchased a small home (3 bed 1 bath), and after renting out 2 furnished rooms, I am breaking even/slightly better off than renting a room outside.
I am looking for ways to pay off my mortgage faster – looking for cashflow positive houses, with low capital investment.
Is Rotorua a good place to invest for cashflow positive houses? I was looking at Tokoroa before and did some calculations and looked very promising. ~80k house can get a rental of around $200 per week, after mortgage, rates and insurance and property management fees, still have about $150-200 per month. (With such small capital, i THINK i could use the little equity that I have as downpayment?) However, talking to a few people, Tokoroa doesn’t seem to be an appealing place to invest, as the town is dying with slowing down of employment and job propescts?
My question is, is Rotorua a better/safer place for such cashflow properties? Otherwise, is there any other places that you could suggest for cashflow investments? Any other suggestions?
Cheers
I am looking for ways to pay off my mortgage faster – looking for cashflow positive houses, with low capital investment.
Is Rotorua a good place to invest for cashflow positive houses? I was looking at Tokoroa before and did some calculations and looked very promising. ~80k house can get a rental of around $200 per week, after mortgage, rates and insurance and property management fees, still have about $150-200 per month. (With such small capital, i THINK i could use the little equity that I have as downpayment?) However, talking to a few people, Tokoroa doesn’t seem to be an appealing place to invest, as the town is dying with slowing down of employment and job propescts?
My question is, is Rotorua a better/safer place for such cashflow properties? Otherwise, is there any other places that you could suggest for cashflow investments? Any other suggestions?
Cheers