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Auckland or Alternatives to Invest?

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  • Auckland or Alternatives to Invest?

    Have a couple of investment properties in Auckland and want to invest more to be in a better financial position.

    We have close to 300k cash and 300k in revolving if we need to use it. Our joint salary is only about 130k.

    Im not sure if Auckland is the best place for us to focus on right now. People say Auckland is at its peak or close to it. Yields are low

    We were originally thinking of buying a property in Auckland but if we did we will need to put in 30% which would mean we could probably have enough for 2 deposits and then we will be stuck, plus the cashflow would kill us so more likely one Auckland property. I know capital growth is where the $$ is at so Auckland is a good choice long term for that but the cashflow isnt that amazing at the moment.

    1) Are we being impatient and should just wait for Auckland to become a buyers market?

    2) Im sure others must be in a similar situation to me. What are others doing? Waiting and hoping to get in later in Auckland?

    3) Have thought Hamilton/Tauranga/Wellington might be better choices as we will only need 20% and the property prices are cheaper. What type of yields are realistic in areas you would want to invest in and do people see much more capital growth to go in these areas?

    4) How about investing in Australia? USA? UK?

  • #2
    Either go to the provinces or look for higher yields in Auckland, such as home and incomes. I have invested in the USA for 6 years. It is great for cashflow but not for the faint hearted.

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    • #3
      Some banks expect 30% deposit for purchases outside Auckland of you own any Auckland property so check this out with your lender.

      Aus yields are low Mel/Syd similar to Auckland but there are areas in both cities you might get 5.5% gross but Aus market seems to be slowing.

      wellington you can achieve 6-10% depending on location and what value you want to add to the property.

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