Shrewdie, you've done fantastically well and I can understand your thinking as far as the timing is concerned, especially if you can continue to do well in the sharemarket. You may have seen a few weeks ago in the Press, a comment by the president of the NZ Property Investors Federation (a Cantabrian), that smart investors are sitting on piles of cash and waiting for the right time to buy which will be when the yields rise to a point where it makes sense to invest. He expected a rise in rents over time but no major fall in property prices.Quote:
quote:Originally posted by Shrewd Crude
cantab... I have regigged my portfolio of late to include NWE (to increase my exposure to the PUFFin announcement coming up)..... other stocks are AED, URA, 30k of UOGO...
tried to push out all my NZOOD at 13.3 ... pushed out 70% or so at 13.3... and now only hold 20 something k NZOOD.... thats all.....
I can answer that question now on how much the bank will lend me.... zero leverage....
It doesnot deter me on my path to cut that 30year loan to 10years...
and two years sideways / falling market shall be enough...
I hope that the one's going against my thoughts will be around in two years!
the risks of holding out two years vs 30year loan is defintely worth it...
[8D]
.^sc
For what it's worth this is what I would do, firstly I'd find a good wife - this is the number 1 rule - someone who thinks the same way as you - investment, spending, travel, kids, etc, divorce is expensive, it helps a lot if she has a good income - bank mangers love this. BTW I like your taste in Chinese girls - some pretty hot numbers walking around town [:p]
Second I wouldn't buy a house to live in, when the time is right you can own a lot more property = more leverage, using that equity built up in the sharemarket, if you buy rentals.
IMHO, the property market leaves the sharemarket for dead as a safe and sure way to create wealth and therefore income using leverage - the banks' money.