My Wife and I both work full time,
We earn around 200k Gross pa
We have a morgage of 270k on our home which is worth around 550k, we have a investment property with four bed house on it we paid 350k rents for 300 pw and is worth around 525k, We have gained approval from council to subdivide the block to 2x 607m2 allotments,
We have just bought a two bedroom apt with ocean views of the plan for 487k with the intention to sell at completion .
We Now are looking for positive investments.
If you can help drop me a line
thanks
kbshow off!
]I’m jealous too![
]KB, what is it you are after exactly? A spotter to find the properties for you?
Cheers
MelNot at this stage , we need some personel coaching,
We have worked our backsides off since comming to Australia and to be honest I am burnt out,
I need outher income streems set up prior to quiting my Job
I did not intend to sound smart in my message it my sound alot but it certainly aint enough.
I live on the Bay in Brisbane and have no time to sail or spend time with the wife our daughter
Tar
KeithAre you joking
Spider
no
KB, I could suggest that you buy lots of books – or for a really quick, hands on, attend Steve’s seminar. I think it’s soon? Would definitely be worth it for you.
Other than that, I’m thinking that your lifestyle expenses must be up there with your income if it’s not enough (I’m not judging, just saying that it often happens that way[
]). If you could cut back a little, save some more, you could easily put down some fairly hefty deposits on a few properties, and turn them into cash cows for you. If you can get a nice profit from your OTP purchase, you could also use that to fund deposits.The main thing for you I guess is to do as much as you are comfortable with, as quickly as you can, to free up some more time. Perhaps see if you can cut back some hours at work (are you self employed?), so that you can spend more time with the family, while getting more focussed on your real estate.
Cheers
MelKnowledge is power. As Melbear posted, books are very good, same as seminar.. though if u dont have the time.. thast where spotters come very handy for u since u have the money but not the time to go lookin for those great deals. [
]What I learnt yesterday, I know better for tommorrow – Dean
Hi KB,
Hmmm – an interesting dilemma and one that many people are faced with from time to time. At least you have made steps to achieve your goal.
I wonder if you and the family have ever sat down and truly discussed what is important to you all. It is possible that what your family is currently doing is working against some of your goals. If this is the case your chance of success is somewhat compromised.
Work out what you collectively want to achieve and set some timelines for the accomplishment of these goals. Be realistic, and where necessary temporarily, or permanently, shelve some plans if they threaten to get in the way of your major goals.
Are your ‘out of the rat race’ plans realistic? Do you have the asset income base to support this? Is a different job likely to recharge those batteries and search for those other income streams? Are you trapped by your current high salaries? How healthy are your ‘retirement assets’?
Some rambling thoughts early Sunday morning.
Derek
[email protected]I agree with those points people made.
I would re evaluate, and whose goals are they? Collective or yours?
You need some time for yourself, time for family and time to acheive your goals, if you dont then stick with the 200k income, it isnt that bad is it?
well it can be I know. I left a busines earning over 250k plus to go work for someone for 33k a year.I needed time out, but to keep my skills up.
I now earn at that job 47k in 4 years, I dont have a partner, so to get to my goals I had to really be a scrooge.
Someone said cut back. It is true anyone on that income, their spending increases to something akin or comensurate with income…
I am cashing up to get ready to reinvest.
but I have three properties rented, my own home now with mortgage, shares that produce income and I still am incredibly frugal as I want some more properties. I have two blocks of land, in the process of going.you would be amased at where your money goes and the silly things it goes on…. so do check that out and maybe redefine your goals and put a time frame on them, but hey make sure you can acheive them or you are setting yourself up for not reaching your goals
now thats ok too….but you know, I dont know about your daughter, but be careful you make the time and make them feel important, and not the money, even if thats what your aim is in the long run to provide….
elves
hi KB
if it is a personal couch you need drop me aline. i have a good friend in Southern NSW who is about to retire on the income from his positive properties. I’m sure he would love to share his wisdom (but you may need to pay him). This guy has been in the market for along time and knows how to make property work. Anyway email me if this is what you want and i’ll ask him to contact you.
regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
Dont know if this will help
I have a friend who wants to sell so he can go back to NZ..He has a duplex 2x3bedroom Brick units each with single garage land size is 1050 both units are rented one for 5yrs I for 18 months . they are in Lismore approx 15 minutes from ballina beach and 1/2hour from byron bay selling for $460000 other s in the area are selling for $489000 with not as much land.
If you want I can give you his contact number
hope this helpsKB
We as a Brisbane based Company have wrapped over 130 properties in Qld and have been involved in Vendor Finance since 1996.
I retired at 37 although after a year felt i had to go back to work to keep the mind active.
Please feel free to email me if you need any further advice.
Cheers Richard
richard at fhog.com.au
http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
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