Yay!! It’s good to see many WA people getting on here! Maybe we should start up some WA meetings!
Steph.

Success is 1% inspiration and 99% perspiration.

Go to the search function and put in “fmaily trust” and you will come up with all the threads that deal with it.

Cheers
Steph.

Success is 1% inspiration and 99% perspiration.

Welcome back Michael! How was your trip to Whitsundays? I am still very green with envy….

Robert I totally understand where you are coming from about educating the masses about their financial future, but there will always be a group of people who do not conform to such ideas and only live for the moment. It has happened pretty much the whole time humankind has lived.

I have been thinking about it a little. Perhaps rather than paying a person (Mother or father) to stay home for at least two years of their child’s life, what about setting up greater rebates for essential items such as fruit and vegetables and other essential foods. I mean the prices of basic food items have sky rocketed over the years and they MUSt be taking their toll on struggling families.

That way, if a family is survivng on one income, at least they could have a little bit extra money to play with. What about also giving rebates for using cloth nappies and trying to become a little greener in the home? Like I have previously said, I dunno how it will be done, but we really need to do something. I am sure there are plently of people like me (26 years old), who would love to have children but cannot afford to right yet.

I tell ya though, we are trying our bloody heart out to make sure we won’t be a burden on the government and hope to not rely on gov handouts. Even when I was unemployed for 6 months, I preferred to get three jobs that go on the dole.

Anyway…

Steph.

Success is 1% inspiration and 99% perspiration.

Demelza, what prospects does Beverley have? Am I right in assuming it is Beverley you live in according to your details?

WHen I say prospects, does the town have something to attract future buyers or potentially better renters?

I know it is predominantly wheat and sheep out there, but is there an underlying industry I’m not aware of?

If your intention is to move back to NZ, I would sell up here and take the money back to NZ. USe that as deposits for other properties in NZ.

Not that I don’t like it, but when I was last in Beverley, it didn’t particularly have much going for it…

Steph.

Success is 1% inspiration and 99% perspiration.

Sonja,
I agree about “thinking” your’re financially prepared. Cremin was in that thinking that we needed to be “Financially prepared” to have children, but I know that no time will ever be the “Good time”.

As long as you try your hardest to make sure your child is healthy and happy is the best you can really do.

Incidentally, what disability does your child have? How has it changed your life? My mum works with disabled adults and I have worked with disabled children and I take my hat off to the parents of those children and adults.
Cheers
Steph.

Success is 1% inspiration and 99% perspiration.

Obiwan,
May I ask what prompted these ponderings?

You have some excellent points about having self limits. Knowing when to cut your losses or knowing when a good thing comes to an end.

Controlling risk is an extremely hard concept for people to learn. Personally it is something I try and help the children in my class develop, but I also try and help them work out what to do next after controlling that risk. Layout their options and work out what would be the best path to follow.

Still, to become a better investor, you need to educate yourself. Not just about what you are investing in, but controlling your urges, fears and risks.

Anyway, I liked your post.Even though it did take a bloody long time to read!!!
STeph.

Success is 1% inspiration and 99% perspiration.

I know people in Perth will sit up and laugh when I say EAST PERTH! (A bloody goldmine had you known what you know now, then!)

East Perth was an area rampant with crime, drugs and seriously bad houses. It was ear marked for gentrification early 90’s and since then it is now the “IN” place to live. TO drive through East Perth now, you wouldn’t think it could have been that bad, but 15 years ago I reckon it would have been close to what Redfern was like.

I’ve never been through Redfern but my cousin lives in Sydney and that’s what he’s told me.

Steph.

Success is 1% inspiration and 99% perspiration.

Alistair you shouldn’t be embarrassed at all.

Everyone chooses different paths in life and yours has lead you to your business. I am envious that you have the guts and determination to go it alone. I would love to have the balls to be self employed but not just yet.

Plus you said it, if you hadn’t done the things in your life that you have, you wouldn’t be at the position you are in now. I’d say just having a loving wife is a pretty mean feat as well. (Well, that’s what my hubby reckons. He still thinks he is too ugly to be married! Me, I think he’s a cutie.)

Good luck in the new year and live and love life!

Steph.

Ok, let me have a go at this one…

At what age did you start investing in property?
25 (nearly 26)

What difficulties did you have in doing this?
Waiting the 6 months required employment after coming back from stint overseas.

Was your first property an IP or PPOR?
PPOR that we are renovating to be an IP in about a years time.

How long did it take you to back up your first purchase with another?
6 months. We have just bought our first IP. A huge 5×2 house that will house our future us and our future kiddies quite happily. But for the moment it will be rented out as it gets way more rent than the house we are currently living in. (Plus it isn’t finished yet!)

How long did it take to acquire 10, 20, 30 or more properties? Not applicable yet, but hopefully the goal is to have 15 properties by the time I am thirty. So 3 and 1/2 years to go.

What are your plans for the future, ie. how many properties will get you to where you want to be financially?
We haven’t quite worked out our exact plan yet, but are currently working on it. Maybe looking into lease options and do some investigating about wraps a little later on.

So we have only just started but we have time on our side and we already have what we want in life. Each other… Awwww so friggin sappy, I know…

Success is 1% inspiration and 99% perspiration.