Quote Originally Posted by voltage View Post
thanks FP I do welcome your comments, you certainly know what you are doing. Do you buy all the LPTS available on the NZX?
No. I have 25,000 Apt. 50,000 GMT. 150,000 ING. 50,000 KIP, 100,000 KPF. 315,000 DNZ (unlisted) and a few bits and pieces in some Australian syndicates, one American, and some NZ proportional titles. My main income is from a couple of commercial buildings. I am really interested in that Direct property fund mentioned a couple of posts back so will follow it up. I got to the stage in life where I have no mortgages so just intend to keep dumping my surplus into LPTs and the like. I'm not suggesting that being mortgage free is a great thing - it carries the risk of losing out in times of high inflation and capital gain. But it suits me these days because buying has become too competitive, i.e. returns don't excite me. As I said, I just keep concentrating on stacking up income and that has meant repaying mortgages which has given me a better income than buying more property. Personally I see little point in becoming better off on paper all the time, while being stretched for cash. It's necessary when you start - but there comes a time when you think 'enough is enough'. As I've often said 'the funny thing about real estate is it will keep you poor while you're getting rich'. Amen