G’day folks,
Seeing as though it’s mid December and I’m shaking my head wondering where on earth 2005 went…I had time to pause, and reflect back on what we achieved this year, on a general level, and more pertaining to this forum on the property front. It’d be interesting to know what everyone else achieved. Our group had a reasonably busy year – not hectic, but so/so ;
1. Finished moving into our PPoR.
2. Paid off PPoR.
3. Drew up plans for a reno to the PPoR (not looking forward to that endless money pit)
4. Purchased 3 basket case industrial titles and got them up and running.
5. Met one forum member for morning tea at our PPoR. Had a jolly good chat.
6. Refinanced our last ressy prop.
7. Appointed our first PM in 5 years.
8. Teamed up with a great, wily ol’ Mentor.Checking the achievements off with what I wrote on the boards at the start of the year, we have outstripped some of our goals and dismally failed to even start others, let alone achieve them.
Yesterday I was standing on the same rocky steppes, looking out across the same harsh barren moonscape where I spent last Xmas and thought to myself…not alot has changed really…
My major ambition in life to get back living permanently in Australia, so I can be with my lovely wife and three girls is still a distant pipe dream. Nothing changed this year in that respect.
How did you go at your end ??
1. Finish my Bsc Comp Sci. – Done. Woohoo (6 years part time).
2. Look for a new PPOR (because we live on what some would consider to be the side of a mountain) – decided we like our place more that anything we can find for similar money. + it still has heaps of potential , fantastic views, in a pretty good suburb.
3. Have a baby – failed – but not from lack of trying.
4. Refinance one property to access funds for another purchase. Done.
5. Buy 1 IP, preferebly south of Perth – Failed (not really) – bought in the north of Perth instead, where once spending some time there in April we much prefered.
6. Take a trip OS – done and still to do. skiing in NZ + still off to Vietnam and Cambodia in 2 weeks.
7. Evict bad tenant from IP purchased Christmas last year.- Done (this was actually the first thing done in 05).Sorry Dazz, I strayed a bit from just Property.
Mal
Getting out of your comfort zone, can help you become comfortable
Hmmm…
This year we restructured our finances and paid out IP3 in full so owned it unencumbered.We then borrowed against it for IP4(didnt even get to see the title..PS- this loan was fun with the banks.. “Not”.. with many things going wrong such as bank losing title, stuffing up documents and putting us past settlement etc)
Took my first holidays for about 4 years (apart from my honeymoon In Mauritius) and used this time to shift house (fun driving a 5 tonne truck in peak hour traffic), do reno’s as needed (reno’s seem to be in some cases..try and fix it..break it..buy new item..all works well), do up gardens etcFinish my Cert 4 in Assessing Workplace Training and instigate my next course
Look at Property Portfolio, increase rents where needed and revalue IP’s
Wait…for more CG ;o)
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator1) Ongoing major renovation of my house
2) Purchased, renovated, and rented 1st investment property.
3) Secured a terrific new mining job based in Perth that will get me the hell out of fly in fly out.
4) Determined that i’d like to eventually become a property developer. I’ve a plan for the future all mapped out.
5) Became an active member on these forums and think this is the best site ever on the entire internet…ever.
6) Brother emigrated to the USA
7) Changed investment tack and now will do reno’s for the next few yrs.
The most positive year i can remember…seriously… as i’ve got direction, and momentum, and feelin good.Merry Xmas everyone.
Cabo Wabo
1) Began sub-division process of 954 sq metre block in Port Kembla.
2) Built & almost completed (bloody Christmas) first 2 storey house on front of block whilst awaiting sub-division. First house cost approx $350,000 inc half of land cost & interest – value minimum $450,000.Plans ready to go for second house cost approx $300,000 inc half of land cost & interest – estimated completion value minimum $400,000.
3) Bought 2 x House & land packages in Rockingham Anchorage estate over the net sight unseen. Cost per package $340,000 4-5 months ago increases in values already up around $400,000 should be up to $450,000 each by completion.
4) Flew to Perth to check out House & Land purchases prior to settlement & spotted a bargain – brand new executive townhouse in Mandurah at $295,000 which should show good growth over the next year or two.
5) Taking a moment to catch breath & re-finance finally ditching the CBA after letting us down miserably all year!
All of this has been made possible thanks to our wonderful new mortgage broker who deserves the best Christmas ever! If he is reading this he knows who he is!
Sparky
G’day Dazzling,
I appreciate your insightful comments on the forum.
This year has been a big one for us because we finally dipped our toe in the water and have purchased 2 IPs in Brisbane and waiting on contracts for the 3rd in Darwin. Looking for one that suits us in our home town of Perth but haven’t found quite the correct one yet. Rents are a little low in Perth I think so our numbers don’t quite stack up yet.
The New Year will probably see us buy one more which will give us 4 IPS and PPOR. We will sit for a year then and watch what you and others on the forum are doing.
All the best for Christmas and the New Year.
Pudhi dazzling
not been a bad year on this side for me I usually do two developments per year and I’m running three currently,
looking forward to the first quarter of next year to put me in good sted for next year.
I have added to my little pool 5 properties this year all in growth areas with irons in the fire for three posi’s awaiting answers at the moment.
just been given verbal that one of my sites has been approval so all paperwork, may come off before the fat guy in the red suit comes down the chimney.
hope everyone has a good christmas and a happy new year.
and happy hunting in the new year.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]Almost nothing!!!
In December paid a deposit on a full duplex, Quakers Hill(Sydney suburb).
I take control in Jan. 06.
Bought another taxi plate. Take control in Jan. 06.
Gave notice on my job. Walk out the door for good end of Jan. 06.
So 2006 is going to be my year.bruham.
My first kick ass year, no property or anything until this year!
1) Settled my first property (Richmond Vic) in May (as PPOR, thanks for the grant Johnny).
2) Got most of my tax back thanks to Timbercorp
3) Partly restructured my IT business which is trading as trust (lets make things more complicated)
4) Pooled my super and invested in the most aggressive place I could find (I’m 27), and stopped contributions
5) Refinanced IP, using all available equity with margin loan into combo of resources shares, gen. au shares, int shares and LPT until next settlement comes up.
6) Determined (and in the process of establishing) trust structure to use for long term investment strategy (thanks guys for all your INVALUABLE help in this area)
7) Moved out and rented out IP last week
Exchanged on next property (North Melbourne) this morningMy balls are firmly back on the line where they belong!
Have a great Christmas everybody. Lets make next year even better!
The most positive year i can remember…seriously… as i’ve got direction, and momentum, and feelin good.
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