How Many houses are enough?

[NomoneyNotalk]

Dear Landlords,

I have been saving money while working overseas, and started buying rental houses in Auckland this year. I want to move back to Auckland after the rental income is enough to cover living cost.

So i need some advice on how much is living cost for a family with 2 kids.

Thank you

[Re@der]

Impossible question. Kim Dotcom cant survive on 20k a month and is asking the court for 70k.
This site has some discussion and prices for migrants.

http://www.newzealandnow.govt.nz/living-in-nz/family-friendly/comparable-living-costs

[DaveW]

I agree, what a daft question yet it is asked time and again.

[brendanmarkhall]

60k

I would say an average middle class aucklander who can run a household budget and not rack up debt on credit cards and Hire purchase agreements could live off 60k minimum. But I would say 150k pa and you can put decent money aside for investing.

[essence]

How long is a piece of string?

[flyernzl]

Work out what your expectations of a reasonable income are. As has been pointed out, this can vary wildly.
Divide that by the net income you would reasonably expect per house.
That will give you the number of houses/units you will need. My target is 10.

(Don't forget to allow for maintenance and tax in your calculations).

[speights boy]

As a VERY rough guide for retirement multiply by what you wish to spend year one by 25.

IE. spend 80k year one, need at least 2 mil net worth.
Works ok for a 20 or so year retirement, past that less so.

Not really what you are asking I know, as sounds as if you will still be working.
But 80k net household income per year should be comfortable enough to provide you with options.

[muppet]

How long is a piece of string?

Murphy's Law Number 3
Any piece of string cut to length is always too short

[NomoneyNotalk]

thank you for the answers, cheers

[PC]

Four.
One to live in.
One to pay the taxes.
Two to live off.

Easy peasie Mr Nomoney Sir.

[Keys]

How long is a piece of string?

How long is a piece of string? IE How do you measure it?

Has the string got frayed ends? If so, at what point do you measure the string. At the end of the bulk of the string? IE 75% or more string filling the void therefore giving length. OR at the end of the frayed bits? If the frayed bits get counted in the strings length can quality assurance guarantee the usefulness of said string? Measuring said string must be carried out under supervision by NZQA assessors until string measurement process's are deemed to be competent. There may be a W.I.N.Z. subsidy for learning the "ropes" so to speak. Call their free help line (0800 lazybuggar) to make enquiries.

[Maccachic]

A piece of string is twice the length from one end to the middle.

[speights boy]

How long is a piece of string?

Five months

How long is a piece of string? Annoying little comment, isn't it? It means absolutely nothing and reminds me of pledges from my insurance claims managers informing me they'll call back ''shortly''.
In my case, the longest ''shortly'' was a staggering five months, and that was despite my occasional email and phone call reminders.

www.stuff.co.nz/the-press/opinion/blogs/where-theres-a-will/7428648/How-long-is-a-piece-of-string