I love real estate! It’s a package of land and building. You can add value to it in both capital gains and weekly cash flow. You can live in it or rent it out. Thats awesome. I’m on a personal mission to buy 30 houses in the next 20 years. I currently have 2 in Auckland. Together, they are worth about 1.6 million, with a debt value of $710,000. Not bad, but can be better. It will help me get the third and forth and so forth.
As I progress as an investor, I will share my mistakes, experience and lessons on the subject through my blog. This is also related to property management and also good books to read, as the search for good information is the key to success in the post industrial economy.
My property mentor has a rule that we only invest in Auckland City. This is because its the highest demand area, and all the new housing stock are in the outer suburbs of Auckland. Keeping prices comparatively low in those areas due to the law of demand and supply. The limited stock in the high demand area of Auckland City means we will have strong capital gains, better quality tenants, providing consistent cash flow and less maintenance issues.
I’ll share more on my blog. Here’s to your success!