My husband and I have been involved in property investing for over 4 years, using the buy and hold technique. Property has certainly risen in value – and so has our weekly overhead to maintain the gap between rent and loan repayment, rising interest, etc. We are actually in the position that 38% of our combined incomes are supporting the investments! Over the past 15 months, our investments have dropped some $100,000 in value. After reading Steve’s second book, and much discussion with my husband who took quite some convincing that this totally different approach makes a heck of a lot of sense, we now have put our properties on the market. We plan to reinvest using Steve’s approach. Our realised profit will be considerably lower after tax, but we will still be in front. We have spent the last fornight in New Zealand on holidays, and looking at property prices in various towns within the North Island. I am hesitant to branch out that far, however, for those of you interested, the Newspaper reports and Real Estate Agents predict real estate price to continue to rise substantially.
We have decided to look at commercial property in Brisbane for our new start. My husband would like to buy a Taxi License??? Any ideas orsuggestions in these areas would be great!
Starting over is quite scary after the situation we ended up in for the past 12 months.Welcome to the other side! In regards to the NZ agents comments about property just be careful because if a person giving advice has a vested interest in that advice, well there’s a high chance of BS!
About the Taxi licence, I think your money would do better elsewhere, a lot better. There was an article about cab drivers in Brisbane the other day and the chronic shortage of them. Lots of cabs are off the road becaus nobody wants to drive them. Besides taxi plates have gone through the roof all over the country in the last few years and you’d be buying at the peak of the market.
It sounds like you’ll be in quite a strong position after selling, so be patient and you’ll get there. Remember sometimes the best investment is to do nothing! Good Luck…G7especially when ozzies are piling over there to buy NZ property in smaller towns often without the correct & thorough due diligence which the RE agents are well aware of, you guys are the self fulfilling rise in prices, do you really think prioces would be rising after a few years of great capital gain and a rising interest rate environment
keep to your investment rules
when the going gets weird the weird turn pro
kayleen
There are so many of us on this forum who started in a similar position as you but luckily after reading Steve’s book… realised that there is another way to investing. Starting over is scary. I can attest to that! but hang in there…you will be financially better off in the long run.
Hope it all goes well.GGG
HI GGG
i wouldn’t discount NZ, the market has flattened out in many cities in NZ over the past 12 months especially the top price end like Auckland, Nelson and Queenstown. But underpriced areas still continue to catch up after years of no/little growth. southland and Otago while rising 30% last year could still grow in value.
Areas in NZ that may be worth considering are Hamilton, Gisborne, Dunedin and Invercargill. (but you wont get 10% easily in these cities)I support your quest for cash positive properties but don’t sell your whole portfolio.
regards westan
I live in New Zealand, for a fee find cash positive deals there, and now 15-25% Returns in the USA email me at [email protected] to join our database
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