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"we Have Only Wanted To Become Serious Property Investors In The Last Year Or So.."

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I find this shocking - how many more people think property is such a dead-cert? I think this couple are a pair of muppets. Obviously they expect capital gains to save them. But I wonder how they expect to acquire "10 mortgage free properties" if they are losing money on their existing BTL? No doubt someone on here will tell me that what they are doing is perfectly fine and the numbers add up... but to me this just seems madness - especially when they don't appear to have a high income or much liquidity to fall back on to (IMO).

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Mrs Coleman said: "We want to work on our property portfolio for the next five years and then gradually reduce the number of days we work for another five years so we are fully retired in 20 years' time."

They make around £3,000 a year in rental income from their three-bedroom house in Leicester, where they used to live, which is worth £100,000. However, they have not managed to make a profit so far from buy-to-let in New Zealand.

After expenses, mortgage payments and tax, the couple said they are making a loss of about NZ$3,000 a year on their other rental property, a three-bedroom house near Dunedin which is worth NZ$140,000. It is rented out for NZ$800 a month.

Despite this, Mrs Coleman said: "We are in the process of doing the house we live in up with a view to renting it out, and moving on and repeating the process a few times. We have only wanted to become serious property investors in the last year or so, and think we will need 10 mortgage free properties to do this."

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Read the full story and do the maths...:

http://www.telegraph.co.uk/global/main.jht...05/26/home.html

I found this useful too:

"New Zealand Herald: Gearing up for a property slump"

http://www.nzherald.co.nz/section/12/story...jectID=10380460

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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