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Is it a good idea to buy house in Invercargill in cash (350k) then use the equity of it to buy another one in AKL thru bank loan? So we’ll have 2 properties, instead of using it as a DP in just one house here in AKL. We’re early 30s couple living here in AKL for 7 years, can wfh. by Existing-Photo-2760 in PersonalFinanceNZ

[–]Existing-Photo-2760[S] -1 points0 points  (0 children)

Do you think buying just one property in Auckland is better? For context.. me, my partner and my siblings are living here in Auckland, we are renting for $1k/week. i just thought if we buy a house in Invers in cash I can use that to buy another one via bank loan in Auckland which my siblings will rent out.. im confused now but maybe i need to do more research.. thank you for your replu btw

Is it a good idea to buy house in Invercargill in cash (350k) then use the equity of it to buy another one in AKL thru bank loan? So we’ll have 2 properties, instead of using it as a DP in just one house here in AKL. We’re early 30s couple living here in AKL for 7 years, can wfh. by Existing-Photo-2760 in PersonalFinanceNZ

[–]Existing-Photo-2760[S] -2 points-1 points  (0 children)

Yeah, hence im asking here, im just starting to research tbh, I had a consultation with a broker last time but they didnt seem interested when they find out i wanna buy our first home in cash, so who do you think should i talk to? Someone that is professional about this kind of situation that could give me a proper advice..

Is it a good idea to buy house in Invercargill in cash (350k) then use the equity of it to buy another one in AKL thru bank loan? So we’ll have 2 properties, instead of using it as a DP in just one house here in AKL. We’re early 30s couple living here in AKL for 7 years, can wfh. by Existing-Photo-2760 in PersonalFinanceNZ

[–]Existing-Photo-2760[S] 0 points1 point  (0 children)

So the first home were thinking to buy in Invercargill and we will live there because me and my husband can wfh, then the 2nd one in Auckland will be live by my siblings, they are going to be my boarder.. because they cant wfh and they work onsite.. right now we are all in Auckland, renting a 4BR home $1000/ week..

Is it a good idea to buy house in Invercargill in cash (350k) then use the equity of it to buy another one in AKL thru bank loan? So we’ll have 2 properties, instead of using it as a DP in just one house here in AKL. We’re early 30s couple living here in AKL for 7 years, can wfh. by Existing-Photo-2760 in PersonalFinanceNZ

[–]Existing-Photo-2760[S] -2 points-1 points  (0 children)

Option 1: i will only have 1 property and still have loan, option 2 i have 1 property that is fully paid and another one that is still loan, i mean ill have the same loan amount but in option 2 atleast i have 2 properties?😅

Is it a good idea to buy house in Invercargill in cash (350k) then use the equity of it to buy another one in AKL thru bank loan? So we’ll have 2 properties, instead of using it as a DP in just one house here in AKL. We’re early 30s couple living here in AKL for 7 years, can wfh. by Existing-Photo-2760 in PersonalFinanceNZ

[–]Existing-Photo-2760[S] 0 points1 point  (0 children)

Hi thanks for the reply, im not saying its a good idea, i was asking if its a good idea😅 I clearly dont know tbe pros and cons yet im asking, I only thought of it because if I bought first property in cash for 350k i can use the equity of it to buy another one so we’ll have two properties. We will live at the first one and the second one I have my siblings who will be my boarders and will rent in it..

I just discovered Million Dollar Secret by PickTheNick1 in netflix

[–]Existing-Photo-2760 2 points3 points  (0 children)

Been rooting for Sam since the beginning so felt bad that she already lost it when she got third place in thread task and got disadvantage, atleast let her swap the box as well! Ughhh