Q. I am a 35-year-old New Zealander living in London. My wife and I are moving back to New Zealand next year.
Wednesday, January 29th 2003, 9:53AM
by The Landlord
We own four rental properties in New Zealand worth $360,000, which will be mortgage-free next year.
We have $450,000 cash to invest. We would like to buy a further five rental properties worth $450,000, which will give us a total of nine freehold rental properties worth $810,000.
Then we would like to borrow $810,000 to buy another nine rental properties. This would give us a total of 18 rental properties worth $1.62 million, and paying off a mortgage of $810,000. We estimate total rental income of $2700 a week.
We also have an emergency reserve of $120,000 in a UK bank account.
