All Topics / Help Needed! / DEPOSIT ON INVESTMENT PROPERTY

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  • Profile photo of dangermouse99dangermouse99
    Participant
    @dangermouse99
    Join Date: 2004
    Post Count: 88

    HEllo All
    Justed wanted to get peoples opinions on a investment property im looking at in NZ
    I have about $100K equity in my existing investment property quite heavily -geared
    Ill shortly have $50K in an offset account.
    Im planning to put 20% depoit down on each 2 x properties in NZ one for 50K and the other $60K then the remainder of the loan will be IO as ill get gross yields of over 11%. Is this a good way of going about this investment, only a smallish deposit but at least ill have sum equity in each property with still room to move for more investment properties.
    Look fwd to you thoughts
    Cheers

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781

    20% deposits is a good idea. I am no expert o NZ finance but that would be the ideal for here.

    Cheers,

    Simon Macks
    Mortgage Broker
    http://www.mortgagehunter.com.au
    0425 228 985

    3 year fixed rate – 6.69%

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

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