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Thinking big can be good - but diversify : Mary Holm

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

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.

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SBS FirstHome Combo 4.29
ICBC 4.85
Co-operative Bank - First Home Special 4.89
Kiwibank Special 4.89
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SBS Bank Special 4.95
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BNZ - Std 4.95
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Kiwibank - Offset 6.35
Kiwibank 6.35
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