Wow what a fascinating time for investors to create wealth.
About 3 years ago I tried to buy a property in Papakura for around 300K. Last night one of my mentoring students emailed me that she had a property under contract and when I saw the pics realised it was the same property.
When I was looking at the property it would have rented for around $350.
Now the rental income is $450 and she has it under contract for $226,000!!
So a “good deal” 3 years ago is a real cash cow now with a truckload of equity.
It is just incredible that you can buy a 4 bedroom home for way less less than the build cost in Auckland city!!
I just don’t know how many people will retire in the next recovery but you can join them if you take some action now. Don’t leave your future in the governments or times hands, as commentators rub their hands in deceived glee over property values declining and how our selfish behaviour is being punished blah blah, today is an incredible time to get going with your future.
I have 2 friends who are both in their late 70′s. One couple invested in property through out their life and treated even their own homes as an investment.
Today they are deciding where to retire to and they have the ability to purchase their final home for cash without selling their current house. They drive around looking at property in their new car and can simply enjoy the fruit of their labours now because they are set for the rest of their lives, (and they have been financially free for some years).
My other friend has worked hard all his life but never did anything about his retirement. As a result he and his wife now own the worst house in the worst street and still have a mortgage. Their dream is to retire tot he beach but this will never happen. The reality of their situation is just hitting home now that they are stuck, really stuck. When they sell they will have to move into the sticks and hope they might be able to find something within walking distance of the beach as they certainly won;t be able to see it with the funds they will have and running a car will be tricky as well.
They have 10, 15 or 20 years of financial difficulty after nearly 60 years of graft.
You will be one of these people yourself one day.
Even 1 good property investment can move you into the top category.
Don’t ignore your own future!!
Stay Inspired and Stay Safe ~ Dean Letfus
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