Also nothing wrong with rentvesting...people say renting is paying someone else's mortgage....I say mortgage is paying off bank interest....sure capital gains is there...but everyone forgets that if you sell your one home you'd have to buy into the same market to continue living in nz....
You miss the whole point - the capital gains allows you to leverage your asset and invest in other houses and get the tenants to pay the interest on that loan so that you make capital gains on borrowed money..... that's the secret to building wealth. You won't make a penny on investment unless you invest - and renting isn't investing....
So true. I rent a house that's easy to use and I can make money out of doing construction and selling stuff. I hate it when people say "just renting" that's the shame that keeps people down.
I'm renting at a cost very similar to Luke in a very close location to him. Nearly rented a 4m place with a 1.5% yield to the owner before he decided to pull the rental and sell. I couldn't be mad at him because it made no monetary sense to rent to us at such a low rate of return and have all that capital tied up. I'm investing in 9% yield investments and living in someone else's 2.5% yield.
@@keepthechangenz great.. there are a few hoops to jump though if you want to live there full time.... Is why I do it in 6-month stints I can use tourist visas and travel insurance to cover any medical issues "It's just a long holiday"... Anyone that is struggling with covering rent while on the NZ pension and is single and a bit out going... Should do a bit of homework and look into it... Laos and Cambodia are even a lot cheaper.. don't let anyone tell you Thailand is 3rd world ..Compared to a lot of there infrastructure NZ is 3rd world..
@keepthechangenz expensive yes. Consider them a treat purchase. I don't drink alcohol or coffee. Generally keep non essential spending low. However, I will splurge on yeezys a pair will last me around 4 years before they wear out.
@@keepthechangenz Yeah 100%. If you start factoring the opportunity cost in the delta between renting and mortgage payment, investing wisely can quite quickly start to outweigh benefits of buying (especially at current prices). Mistakes people often make is quoting past growth in capital gains in the current market, where I believe that is unrealistic especially if you look at the flatlining of household income. No way the market will keep growing at a compound 15% annual growth...
BTC is Freedom, if you own an awesome asset that can easily pay your rent in yearly profits. Why would you sell that asset to buy a House, another asset with more moving parts and risks and costs?
Any idea how accurate apps or services like Clearscore are in regards to credit score? maybe a vid on how to boost score cos ppl like watching US gurus asdume credit card is the way to go
Instead of working hard to increase your credit score which generally is a measure of your history of paying back credit on time how about focus on not needing credit?
@@Sam.Buchanan Fair shout guys. *Dave Ramsay spaz out* DEBBBBT! lol Great points- guess taught by tv and movies that always saw it as a flex or 'door opening' but after last couple KTC vids.. more access to borrow more of someone elses $ so my own goals are prolonged and I can work to serve the banks?.. but at least i'll have some shiny toys and some fake bali sunnies for my troubles chee hee!
Also nothing wrong with rentvesting...people say renting is paying someone else's mortgage....I say mortgage is paying off bank interest....sure capital gains is there...but everyone forgets that if you sell your one home you'd have to buy into the same market to continue living in nz....
You miss the whole point - the capital gains allows you to leverage your asset and invest in other houses and get the tenants to pay the interest on that loan so that you make capital gains on borrowed money..... that's the secret to building wealth. You won't make a penny on investment unless you invest - and renting isn't investing....
@cpnurseries would you like to put some 2024 numbers to this example of yours please.
.... What ARE the top 1% of all of those metrics? Great and interesting call to say -- Aim for those!
I made above 6 figures a year working as a dairy process worker,running a powder dryer.
So true. I rent a house that's easy to use and I can make money out of doing construction and selling stuff.
I hate it when people say "just renting" that's the shame that keeps people down.
@@braydeny nice work! Getting after it. Certainly no shame in renting!
I'm renting at a cost very similar to Luke in a very close location to him. Nearly rented a 4m place with a 1.5% yield to the owner before he decided to pull the rental and sell. I couldn't be mad at him because it made no monetary sense to rent to us at such a low rate of return and have all that capital tied up. I'm investing in 9% yield investments and living in someone else's 2.5% yield.
@@Sam.Buchanan wowza a $4milly pad haha how good! Nice one. Say hello if you see me!
what are your thoughts on properties as investments/rentals? not as something to live in yourself
Wouldn't a median wage be more representative of the average kiwi wage earner?
@@danieljayasiri7739 dunno why they’ve done average but hey that’s the article
yer renting is great..till you are retired... have a house here.
But I live overseas half the year... rent is 250NZ a month..
@@peterclaydon9782 nice where abouts? Renting forever may not be ones goal but many people get spoken down at for renting. It’s part of a journey.
@@keepthechangenz Khon Kaen , Thailand
@@peterclaydon9782 Epic, how does that go? Probably unreal considering you do it haha?
@@keepthechangenz great.. there are a few hoops to jump though if you want to live there full time.... Is why I do it in 6-month stints I can use tourist visas and travel insurance to cover any medical issues "It's just a long holiday"... Anyone that is struggling with covering rent while on the NZ pension and is single and a bit out going... Should do a bit of homework and look into it... Laos and Cambodia are even a lot cheaper..
don't let anyone tell you Thailand is 3rd world ..Compared to a lot of there infrastructure NZ is 3rd world..
@ good insights mate. I’ve never been. Sounds quite cheap. Even for a break from the island (NZ).
Anyone know what the top kiwisaver is by any chance
Check Morningstar reports maybe?
1. Save $500.00 per week/expenses
2. Invest in Gold and Silver, Bonds, and property shares
@@Freedom4UFreedom4every1 you do part 2 electronically or hard assets?
@@keepthechangenz Both, if the banking system fails and you have tangible assets tied up in gold, they can't take your money.
Pair of yeezys v2 $400 nzd retail . Very comfortable my favourite to wear 😅
Shesh is that what they cost haha!
@keepthechangenz expensive yes. Consider them a treat purchase. I don't drink alcohol or coffee. Generally keep non essential spending low. However, I will splurge on yeezys a pair will last me around 4 years before they wear out.
People fall off their chairs when they hear we rent 😅
Haha really? Hopefully you have a financial plan around renting too though yeah? Housing is a big cost in NZ!
@@keepthechangenz Yeah 100%. If you start factoring the opportunity cost in the delta between renting and mortgage payment, investing wisely can quite quickly start to outweigh benefits of buying (especially at current prices). Mistakes people often make is quoting past growth in capital gains in the current market, where I believe that is unrealistic especially if you look at the flatlining of household income. No way the market will keep growing at a compound 15% annual growth...
@ yes and if you can outgrow average household increase plus average income growth then game on!
well, after watching this, i now know what people do when theyre charging their cars
@@jasonshortland7455 haha most probably playing solitaire
Japan's view on housing is interesting.
@@Beveelyhillbilly what are Japan up to?
@keepthechangenz i don't know much about it but it seems like they don't value property like here. Rather they become a undesirable holding over time
BTC is Freedom, if you own an awesome asset that can easily pay your rent in yearly profits. Why would you sell that asset to buy a House, another asset with more moving parts and risks and costs?
Nice one how much of it you got? Does it pay your rent?
Times it by 10, 10x grant Cardone vibes
10x is easier than 2x - book by Dan Sullivan. A very good read. Bent my mind haha!
Landlords are garbage where I come from, may awel pay your mortgage than someone elses. Land maxing is the way, most houses themesleves are trash
Any idea how accurate apps or services like Clearscore are in regards to credit score? maybe a vid on how to boost score cos ppl like watching US gurus asdume credit card is the way to go
@@sammyswish yeah no idea not something I have studied too much. I’ve never understood the fascination with a credit score in NZ
Instead of working hard to increase your credit score which generally is a measure of your history of paying back credit on time how about focus on not needing credit?
@@Sam.Buchanan haha that was the path I took. Getting the fark outta debt...finally!
@@Sam.Buchanan Fair shout guys. *Dave Ramsay spaz out* DEBBBBT! lol Great points- guess taught by tv and movies that always saw it as a flex or 'door opening' but after last couple KTC vids.. more access to borrow more of someone elses $ so my own goals are prolonged and I can work to serve the banks?.. but at least i'll have some shiny toys and some fake bali sunnies for my troubles chee hee!