Short answer yes she wins, yes you lose.

D

What a fascinating thread!

I've got one set of retired parents (in laws) and one set (mine) who are both still working full time.

The retired lot enjoy some cafes and table tennis and a few activities, but I think at this stage they have started to have to rein the spending back as their income isn't what it used to be preGFC. They have still got plenty of years to go too.

My parents will probably have to work forever, and my dad has actually started his own carnivorous plant nursery as his 'retirement job'.

But at 30ish I haven't even thought about retiring. What would you do with all that spare time? Sure I would love to hang out at cafes but I would need a crane after all those little cakes……..You see people like Gerry Harvey and Triguboff and they are still working even though they are headed into the 80's… maybe there is a limit to how much golf you can play.

On the word of cafes, I probably wouldn't go there. I have seen people burnout pretty fast, it really is one of those jobs where the owner is the job, and that's the last thing I would do at 65…..

Very interesting to see peoples thoughts on real retirement.

Cheers

D

Hi Ross,

How long will this all take, as you need to factor that in. If it takes 18 mths or longer from go to whoa, then will that profit work for you? essentially 40k per year?

50k for the reno costs sounds high considering the low resale price I may have read it wrong, should be aiming more around the 10% for reno, 15% worst case. If you need to spend more like 50k is it worth renoing?

The other thing is – it may be easier to do a certain build, but is that the most profitable? Have you spoken to a architect/town planner yet?

Ensure you put in a due diligence clause on your contract too, meaning that if you can't do what you want with the block you can get out of it.

Cheers

D

Hi KrisM,

Is this the Dash of Salt article in API mag that you are referring to?

It's not just GEN Y who want to live near 'stuff'. Baby boomers like where they live, thats why they still live there. If we can figure out a way to get them to trade their big blocks for more manageable smaller homes, we might be onto a winner.

Disclaimer, I have 2 sets of aging parents, boomers, they don't want to move from their big 3 bedders on big blocks!

Cheers

D

Hi Shahin,

Do you have a link to the NSW planning website, or a site where it gives you this specific information. Thanks in advance.

And yes every state is different which is why it is sooo important to have the right people doing the work for you.

Yup,

and we are moving again in Jan. Sigh.

D

Yeah I agree the 20 Questions book is a good one for starting out in an area!

Has anyone noticed that with the exception of Steves new book, there is not really a lot of good new wealth creation books out? Or is it just where I am?

Cheers

D

Well if we have solves Joes problem, can we solve mine

http://www.realestate.com.au/property-house-vic-colac-112164999

Why wont this sell – this is my 3rd go at it!!!

Cheers

D

Well be waiting!

D

Hi Joe,

Once you fix your pics the blurb should look a bit more like this –

Renovated three bedroom family home and so convenient

This family sized home has been recently renovated and is now ready to move into.

Why not enjoy the brand new immaculate kitchen and cook up a storm. The formal lounge is just waiting for your personal touch with classic polished floorboards. You’ll be more than comfortable all year round with gas heating and air-conditioning to the great sized lounge.

Excellent bathroom and laundry facilities and even a separate water closet means there is plenty of space for everyone.

This home has a great secure rear yard with plenty of space for the kids to kick a ball, and a shed for the handyperson of the house. There’s also plenty of car parking off the quiet street.

Don’t forget the location! Perfectly situated close to Laverton train station and shops, but in a nice quiet part of town, this home is superb. Walk to the pretty parks or local schools and enjoy your life.

Call today for your inspection, you won’t want to miss this home!

With some new pics, a new blurb and possibly a new agent (your old one might be ok with somee guidance), you should be right. You never know who might need to move before Christmas……

Cheers

D