Totting up the costs of rental property - Mary Holm
Monday 26 January 2004
Q. I'm writing in response to your rebuttal to my short, sharp piece that was published in the Herald late last year, in which I said, quite plain and simple, never sell a rental property, never sell.
By The LandlordI would like to give some substance to my view concerning your telling this lady to sell her investment property.
First, why did you not tell her that she should get a good property manager and keep the investment? Therefore she could continue to receive her passive income stream and be financially secure for the rest of her life. In fact, you could have told her to buy more property once the boom settles later this year.
The reason I said never sell a rental property was that anyone who is wealthy parks their money in real estate and keeps it there for the long-term.
Read More - Opens in a new window
Commenting is closed
Housing confidence has been dealt a hefty blow by the Covid-19 crisis with house price expectations plummeting to new lows.
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
Tales of strife and problems abound in the commercial property world these days, but the impact of the Covid-19 pandemic has not been as devastating for all commercial players.
Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.