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In February of this year, we purchased an investment property with the knowledge that we plan to be travelling next year and Dave’s regular income and thus, the bank’s faith in us, would disappear.
I’m personally a fan of compact, efficient housing, located near to amenities and have aligned my property investment strategy around this.
Since I’m the chief decision-maker when it comes to our money, I decided that we are now only purchasing cash flow positive rental properties (one of my many real estate investment mistakes was not doing this in the beginning), primarily 2 bedroom units and townhouses close to the city centre in Christchurch, New Zealand.
I personally feel Christchurch is undervalued compared to other major cities in New Zealand.
I’ll probably change my mind a few times, but right now, that’s what we’re aiming for.
As we plan to travel, I want low-maintenance properties that are easy to maintain and can be managed entirely by a professional property manager. This post outlines my strategy for real estate investing moving forward.
I also want to achieve a minimum 7% gross return (although a current property we have under offer is just tipping over 6% but we have other plans for that).
Finding a 7% gross return in a central suburb is not easy, but it’s not impossible either. Here’s how it played out for us.
Real Estate Investment Case Study: Christchurch, New Zealand
Purchase price: $190,000
Weekly rent: $290 (annual $15080)
Gross yield: $15080/190000 = 7.93%
Council rates: $1389/pa
Home insurance: $1510/pa
Interest rate: 3.99% fixed for 1 year
The property is an upstairs unit, 2 bedrooms with a large living ro… Read More
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