Hi all,
Was hoping to get opinions on whether property investment in Auckland is still worth it.
I am currently looking at a property in the range of 500 to 600k, with a weekly rent of around $500.
With a loan of $500k, after rates, taxes, and all expenses, I will be looking at a weekly cash flow of minus $200.
How can I justify such an investment?
Is there something I am missing? I always hear talks of people using property investment as a positive cash flow but it seems highly unlikely in Auckland.
Thoughts?
Cheers -
Tafa
Was hoping to get opinions on whether property investment in Auckland is still worth it.
I am currently looking at a property in the range of 500 to 600k, with a weekly rent of around $500.
With a loan of $500k, after rates, taxes, and all expenses, I will be looking at a weekly cash flow of minus $200.
How can I justify such an investment?
Is there something I am missing? I always hear talks of people using property investment as a positive cash flow but it seems highly unlikely in Auckland.
Thoughts?
Cheers -
Tafa
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