[cap]I am a kiwi living in WA. We have a house here that we bought for 80K and is now worth about 160K (We only owe 70K) after only 2.5 years. Prices here have gone through the roof lately. We also have a house in NZ which we bought for 130k and is now worth 300 – 400K which we owe 90K on. Hubby wants to sell this one in WA to pay mortgage in NZ after reading Steve’s book, as we are moving back to NZ soon. Rentals here in our rural town are at a premium, but chance of a good client is not high – half the town work for ‘centre link’ as they say! Prices may improve here yet as people are moving here in droves at present.
Any comments anyone?Hi Demelza
I’m no expert, but it sounds like you’re in a great positive cashflow position. Which is exactly what Steve suggests. Maybe finding a good reliable property manager would put a few of your worries at ease. I have had renters from a centrelink background who have been excellent tennants. Its hard to pick good tenants from any background though.
I live in Perth and am considering buying in York, I’m still investigating.
Good luck.
Regards
PrinciePRINCIE
Demelza, what prospects does Beverley have? Am I right in assuming it is Beverley you live in according to your details?
WHen I say prospects, does the town have something to attract future buyers or potentially better renters?
I know it is predominantly wheat and sheep out there, but is there an underlying industry I’m not aware of?
If your intention is to move back to NZ, I would sell up here and take the money back to NZ. USe that as deposits for other properties in NZ.
Not that I don’t like it, but when I was last in Beverley, it didn’t particularly have much going for it…
Steph.
Success is 1% inspiration and 99% perspiration.
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