4 years ago, I asked my tenants, “Have you ever thought about buying a property?”. “No” was their answer, 4 years later, I asked again and this time “We have been thinking about it”. with the current property price increases, it is hard to ignore the fact that your property is in some ways “making more money than you can make”. Following this we set up a meeting and ran through what we needed to do and the basics of “adding value” and “recycling the deposit”. After a number of open homes, two auctions and two offers, they successfully purchased a central Auckland property, the value would increase approx. 25% after the renovation for which we could recycle the deposit for the next property.
I often hear people says that their job is their priority. Do you really think so? Your job provides the financial security, but not Financial Freedom! Your investment is the priority, your goals to financial freedom and your job are simply the vehicle to take you there!