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VIP’s attitude sounds similar to an email I recieved as a result of my last appearance on A Current Affair, as a property investing mum.
This person said I was a sponge on society and did nothing to contribute to the betterment of mankind like being a doctor or a school teacher, etc.[glum]
I spent quite a bit of time, “cooling off”, before I tactfully answered the email and I didn’t even swear, not even once.[angel]
If you want to get out of a hole, first stop digging.
My husband Les and I bought our first house in 1998 at Burrum Heads, a holiday area north of Hervey Bay in Qld.
It was not bought at the time for an ip, as such. Our thinking, was to spend the rest of our working lives paying it off and then we’d have somewhere nice to retire to. Purchase price was $125,000 and the permanent rental at the time was $125pw.
This was purchased in the quiet market period, no growth, and it was even negatively geared then! Knowing what we know now, we would never have touched it.
We eventually last year got tired of it still being negative,(rent was still only $140pw) and sold it for $185,000.
The really important bit is what we did with the proceeds of sale; we paid out the loan on our own home and one other ip as well!
Cheers Brenda
If you want to get out of a hole, first stop digging.
