Firstly awesome site and looking forward to learning from you all.
I have just bought my first IP and feel like I am in my first year at school with heaps to learn.
I am also new to NZ, so my choice of location was based on impulse and the area was cheaper.
I just bought an IP for 200K with a rental appraisal done at 300 PW. Area is Mangere East. It seems as thought the market is slowing down so I thought I would go for the rental return as apposed to the Capital Gain.
Have I made the right decision ??
Hi Bornfree,
Looking into my crystal ball [sultan]… I would say that time will tell. [rolleyesanim]
Seriously though, you have made your first move and purchased so well done. [thumbsupanim]
So long as you are confortable with the current cash flow I can’t see you having too many troubles.
Cheers, Nobleone. [biggrin]
P.S. Welcome to the forum…
“Making mistakes is just another another tool for learning.”
Hi Bornfree.
Yeah I agree. Well done for getting into the market. Seems like you have the right attitude.If you keep an open mind and stay willing to learn new ideas and keep your mind open to new opportunities you will do very well.
.
Remain flexible and keep your eyes open.I just bought an IP for 200K with a rental appraisal done at 300 PW.Salespeople are great at offering blue sky rental appraisals. Do you know if you can actually rent for $300/wk?
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