A small cottage I bought last year in the south island of New Zealand is turning out to be one of my bettter performing properties.

It did take a little while to find the current tennant, but now he treats the property as his own. He has even been doing some painting and has fixed up the weatherboards.

He pays the rent weekly, which the agent deposits weekly into my account without fail. The tenant has done a few of his own repairs but other than that, I haven’t had to pay any other maintenance costs.

I basically bought the property, so I wouldn’t have to visit New Zealand just to open a bank account. It is difficult to open a bank account from overseas, but if you are getting a mortgage it is possible. I looked for the cheapest properties available and this is the one I found. I knew that it was going to take some time to get an account set up, so if the settlement was late, the penalties wouldn’t be too high.

As it has turned out, it was one of the best performing properties, in terms of nett return and ease of management.

And who knows it might be the perfect place to retire to one day.

New Zealand property