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Old 18.06.2019, 13:25
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Phil_MCR Phil_MCR is offline
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Re: investing in real estate vs buying property

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This is true. Also if a bank sees that you have taken a lifestyle change, got divorced, they can recall the loan at the end of the period. Even if rates are lower, and it is more affordable in real terms, if you don't meet their income tests, etc. You need to keep looking good on paper for them to stay your lender.

It took me a couple of years to find something "good" in ZH. I have seen several potentially good properties in ZH since, of those I know that 2 of them actually turned out to be really good deals at the time. One of those got over redone at great expense so negating the benefit of the initial shrewd purchase. The other is ongoing, still being over done in my view, but the purchaser is doing a lot of the work themselves, labour of love style. Hopefully that doesn't end in divorce/unfinished project.
how good is good (in terms of gross rental yield)? i only found 3 good deals in my 10 years of looking:

1. I bought
2. I was out-bid
3. Was out of my price range

Still looking and for the specific area I want, the prices are just unreal.

EDIT:

actually, there was #4 which was amazing, but was off the market again within 2 minutes as it was such a good deal. I was too slow.
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