Enelson

I sympathise with your situation.

Had another thought what about a letter to the Dept Transport/Roads re speed humps being placed in your street. Also keep a diary of how many episodes on any given evening, the power of the pen is really underestimated.

I personally would not be selling as you will end up with alot less than what you started with.

Good luck

Jenny1

I once married a man that was v careful with his money, infact all my wages went into his account and I was given an allowance of $50 per fortnight, as he believed I was not good with finance. He did not share my vision/passion for investing and believed in not doing anything in regards to investing other than paying off his mortgage.

I was made redundant and monies received were paid on his mortgage, we decided to part ways (many other differences).

Since then I purchased my first IP made money on it, bought a further 3 properties (on my own) then met a gr8 fellow (and married him) who had spent his life with family sponging off him until he had nothing.

We had talked endlessly about future plans to invest before we got married so I was sure that we both had similar vision.

We discuss ventures but it is me that does the ground work, manages and saves the money. He supplies the muscle and endless energy for renovations.

I believe there is always one person in a relationship that is better with money than the
other but as with Gastsby you need to share the same vision/drive to get to your goal in life.

Jenny1

I totally agree with Dazzling

How can you say you can’t afford insurance when you are prepared to wear a loss of rent $6,400. Insurance would not cost anywhere as much as this (plus it is a tax deduction).

Being naive has cost you plenty. Set up reminders on a calender of when rents are due, internet/phone banking can be done from home.

Dazzling is right re PM’s you manage your Managers, ring/sms or email if your rent is late to find out when it will be in your account.

Interview PM’s as it is your business that you are entrusting to them, and PM’s will break you if you get a bad one.

Good luck

Jenny1

I have loved investing for a long time now and I suppose I like this forum because we all have a common interest in property.

I have always chosen people that I would tell about my investments that understand what it is like to go without and to sacrifice in order to move ahead.

I found out in the early days that people wouldn’t understand what you were wanting to achieve and were always knocking you for the goals you wanted to set. Either that or you would get people saying “Gee your lucky”! If I hear that once more I will scream.[comp]

I come from the school of hard knocks meaning that I have not had anything given to me and I worked hard holding down 3 jobs at the one time to get ahead. I have never bought anything on interest free or had a credit card debt that was not paid out by the end of the month.

So I suppose I am not a squirrel looking to see how big your chesnuts are I purely enjoy reading the different paths that are taken to reach your own goals.

Jenny1

Candy

I would not be managing the property myself I would be checking out other PM’s that will collect rent, maintenance and all the other run around things PM’s do to earn their commission.

This is all tax deductible why go through the drama of doing the run around all this is time consuming, when you could be doing other things in regards to looking for your next investment.

Good luck

Jenny1

API stand for Australian Property Investor. This is available at any newsagent or do a Google search to find their web address and you can subscribe online.

A great mag with lots of info.

Hope this helps

Cheers

Jenny1

Just do a search on reverse mortgage there is a bit more info written [biggrin]

Jenny1