Like most first time forum posters I’ve been looking at this forum for awhile and have found the information incredibly useful.
Some background I’m 25, I live (flat) and work in Auckland and am on a good salary.Before finding the forum I purchased an investment property in Whakatane, luck more than good decision making resulted in me buying a nice place in a very good part of town returning just over 7% yield – so just cash flowpositive with 20% deposit .
The reasoning behind buying in Whakatane was that my folks relocated there in the last 5 years and have experience managing rental properties – this results in a well looked after place with no property management costs but the need to buy in a good area so that the place doesn’t require too much management. If I’d have found this forum before the purchase I would have done some things differently but I’m going to stick with the place as financially the result has been ok.
I purchased the place under GV in Dec 2014 and I’ve just had the place re-valued, theresult being a valuation of just over the GV – an increase in equity (on paper)of $25K.
Since the purchase I’ve saved up another $25K and with the increase in equity I’m looking at buying another place with the $25 – 50K – My question is where?
Auckland isn’t an option as I’m looking for a casflow positive property ( or something that is close) and I don’t have an Auckland sized deposit, therefore I’ve been watching:
Whakatane –It’s a small town, is having two or more places in a small town risky?
Kawerau –Prices are low, yields are high and prices have risen significantly in the last few months.
Tauranga –Higher prices, likely to be better capital gain, lower yields.
Rotorua –seems to me to sit somewhere in between Tauranga and Kawerau
Thanks for reading - id be keen to here peoples opinions !
Some background I’m 25, I live (flat) and work in Auckland and am on a good salary.Before finding the forum I purchased an investment property in Whakatane, luck more than good decision making resulted in me buying a nice place in a very good part of town returning just over 7% yield – so just cash flowpositive with 20% deposit .
The reasoning behind buying in Whakatane was that my folks relocated there in the last 5 years and have experience managing rental properties – this results in a well looked after place with no property management costs but the need to buy in a good area so that the place doesn’t require too much management. If I’d have found this forum before the purchase I would have done some things differently but I’m going to stick with the place as financially the result has been ok.
I purchased the place under GV in Dec 2014 and I’ve just had the place re-valued, theresult being a valuation of just over the GV – an increase in equity (on paper)of $25K.
Since the purchase I’ve saved up another $25K and with the increase in equity I’m looking at buying another place with the $25 – 50K – My question is where?
Auckland isn’t an option as I’m looking for a casflow positive property ( or something that is close) and I don’t have an Auckland sized deposit, therefore I’ve been watching:
Whakatane –It’s a small town, is having two or more places in a small town risky?
Kawerau –Prices are low, yields are high and prices have risen significantly in the last few months.
Tauranga –Higher prices, likely to be better capital gain, lower yields.
Rotorua –seems to me to sit somewhere in between Tauranga and Kawerau
Thanks for reading - id be keen to here peoples opinions !
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