My partner and I own a two bedroom rental property on the North Shore, Auckland. We purchased in early 2014 with a 20% deposit from savings. The property was renovated and tidied up prior to buying as we don't consider ourselves home handyman type people and we are particularly busy with our careers and life in general.
We make a cash loss on the property of around 6k per year after all expenses including property manager, accountant, insurance, rates, etc.
If we want to look to buy a second rental property in 4-5 years before we begin to have children, what would be the best way to go about this? We would buy another two bedroom rental in Auckland, similar in price and location.
Our household income is 95k before taxes and we have been saving around 30k between the two of us annually.
We make a cash loss on the property of around 6k per year after all expenses including property manager, accountant, insurance, rates, etc.
If we want to look to buy a second rental property in 4-5 years before we begin to have children, what would be the best way to go about this? We would buy another two bedroom rental in Auckland, similar in price and location.
Our household income is 95k before taxes and we have been saving around 30k between the two of us annually.
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