Please go easy on me, Ive had potentially life threatening illness the last couple of years. We are 40yo.
Ok I earn about $110k pa plus 9% super in aus. IT Pro.
The Mrs earns $90k plus 9%. Dr in Biology
I expect our incomes to raise.
Long term after 15 years I wish to pursue a passion as a career without the fear of income getting in the way, CAD design and Jewerly.
We want to semi retire in NZ in about 15 years. We really dont have much in assets aside from $60k super for me and $25k savings for her.
We want to buy properties in New Zealand to generate approximately $100k pa on our return along with owning a home in Fitzroy New Plymouth.
We are not interested in the Auckland market at this stage, as we just wont have the deposits and feel there is a risk exposure there (not really wanting to debate this).
So whats the idea, you save for deposits, buy an IP and get it to neutral gearing, then start again and say get to 7 IPs then start paying down on them?
So how many properties would I need to generate $100k gross?
Also if not buying Auckland, what towns/cities tend to be good income earners (vs capital growth like Auck)?
We were thinking of spreading the risk, New Plymouth, Dunedin, Tauranga and Wellington.
Any help appreciated.
Kind Regards
Ok I earn about $110k pa plus 9% super in aus. IT Pro.
The Mrs earns $90k plus 9%. Dr in Biology
I expect our incomes to raise.
Long term after 15 years I wish to pursue a passion as a career without the fear of income getting in the way, CAD design and Jewerly.
We want to semi retire in NZ in about 15 years. We really dont have much in assets aside from $60k super for me and $25k savings for her.
We want to buy properties in New Zealand to generate approximately $100k pa on our return along with owning a home in Fitzroy New Plymouth.
We are not interested in the Auckland market at this stage, as we just wont have the deposits and feel there is a risk exposure there (not really wanting to debate this).
So whats the idea, you save for deposits, buy an IP and get it to neutral gearing, then start again and say get to 7 IPs then start paying down on them?
So how many properties would I need to generate $100k gross?
Also if not buying Auckland, what towns/cities tend to be good income earners (vs capital growth like Auck)?
We were thinking of spreading the risk, New Plymouth, Dunedin, Tauranga and Wellington.
Any help appreciated.
Kind Regards
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