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Sorted for retirement

An Upper Hutt couple haven’t long been in the game but an early retirement is on the cards for them – and they explain how to NZ Property Investor magazine.

Monday, March 19th 2018, 8:00AM

by The Landlord

Upper Hutt property investor couple Geoff and Dana Walsh

If they stand at home in the right spots in the garden, Geoff and Dana Walsh can see all three of their rental properties.

Each one is within 200 metres of their house – making managing the tenancies a little bit easier for the couple, who were runners-up in the 2017 Landlord of the Year Award.

“We try not to be overbearing, but if the tenant rings and the tap washer’s stuffed, I can be around in five minutes,” says Geoff. “If I’ve forgotten a tool I’ll just go back home and get it.”

Geoff knows his way around the tools very well: he worked as an Army mechanic most of his life.

Having spent 26 years in uniform, he’s now off the tools and in an office job, but some of those skills are still being put to good use for his tenants.

While Geoff takes care of maintenance and inspections on the rentals, Dana is in charge of doing the accounts and finances for the properties.

The efficient investor couple met in 2007 at the Hutt Valley Gun Club, had their son nine years and then decided to have a go at rental property in 2010.

They were able to get started thanks to a boost from Geoff’s many years of military service.

After 20 years in the Army, his superannuation fund paid out and that lump sum allowed the couple to pay off the mortgage on their home.

Following that, they figured the best use of their money in future was to move into the provision of quality rental property that they would be happy to live in and featuring a great landlord service.

Now they have three rental properties and are currently looking at a commercial property with two flats above it.

They’re in this for the long haul, Geoff says. “First off, it’s our retirement plan and I’m planning on retiring at 60.

“Then, unless they stop performing, the whole portfolio is to hold and pass on to our son. This is a way to provide our son with a brighter future.”

To read more about Geoff and Dana’s property journey, click here to get the digital issue of NZ Property Investor magazine.

Subscribe to NZ Property Investor magazine here to get great stories like this delivered to your mailbox every month.

 

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Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.55 4.79 4.99
ANZ Special - 4.05 4.29 4.49
ASB Bank 5.80 4.44 4.69 4.89
ASB Bank Special - 3.95 4.29 4.49
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.10 4.29 4.49
BNZ - Std, FlyBuys 5.90 4.69 4.79 4.99
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.20 5.25 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.70 4.85 -
Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
HSBC Premier LVR > 80% - 3.79 - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.55 4.69 4.99
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.05 4.29 4.49
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special - - - -
SBS Bank 5.89 4.85 5.05 4.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.19 3.95 4.49
Sovereign 5.90 4.45 4.69 4.89
Sovereign Special - 3.95 4.29 4.49
The Co-operative Bank - Owner Occ 5.75 4.10 4.35 4.49
The Co-operative Bank - Standard 5.75 4.60 4.85 4.99
TSB Bank 5.80 4.45 4.69 4.99
TSB Special - 3.95 4.19 4.49
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.69 4.79 5.19
Westpac - Offset 5.95 - - -
Westpac Special - 4.15 4.29 4.59
Median 5.89 4.50 4.69 4.79

Last updated: 2 December 2018 8:39pm

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