2004 Achievements and plans for 2005
Its now December. Now is always a good time to reflect on your acheivements in the past year and time to plan a few things for next year. How was your 2004 and what do you have planned for next year?
No particular order.
1. Sold an investment property I held for two years. It was negative geared. But the profit was handy. As I don’t expect prices to rise for a few more years I thought this year was a good time to take the profit.
2. We have had a few new tenants. Both lease breaks. Only a small rent increase on the other but room for increases next year.
3. I painted the outside of one unit. Did some curtains on another. I don’t usually do much on them.
4. Renovated the bathroom and painted the PPOR with some help from my brother.
5. My daughter graduated from kinder. She starts school next year.
6. My son speaks a lot clearer than he did at the start of the year and he has completed 3 yr old kinder and is looking forward to real kinder.
7. My job is in auto pilot mode. We are trying to takeover a competitor and until this is bed down we are in limbo.
8. The local amateur football club I support made the finals for the first time in B grade VAFA. Another milestone for the club.
9. We invested in the family. My sister in law got married in Canada. So my wife, kids and I had our trip to Canada. We did Ottawa, Montreal, Vermont in the US, London and Singapore. And I got to spend some time with my in laws. It was a costly trip but at least its been paid for by the tax man and the sale of the property.
10. Assisted my brother in preparing for builders licence
11. Spent too much time on this and another property forum – hopefully I have assisted a few people in seeing the reality of property investing
12. I read the $10m property in 10 years by Spann.Plans for Next year
I am well placed now for further growth. Not sure how much I want to commit myself to further expansion. Its important to find a balance between family needs and my urge to invest. So here goes;
1. Renovate a unit in Frankston. The tenants its attracted means it needs a bit of work.
2. Replace the Carport and facia on our PPOR.
3. Look at a future purchase – it must be a property with room to put a unit in the back.
4. Sell some shares in the company I work for to pay down some further debts
5. Assist my brother in completing his builders licence
6. I am planning to read the Mcknight book on the Mappers.
7. Spend time with my wife and nurture our relationship
8. Watch the kids grow and offer the advice needed. My daughter starts school next year.It will be interesting, this time next year to see if I have achieved any of these.
Nice thread Yack.
Well, I think Cremin and I had a seriously productive year. Certainly the best year we’ve had in a long time.
1. We moved towns. From Perth to Geraldton so we could settle down after a long time travelling and generally being undecided with our future.
2. We scored jobs which service our means and we enjoy them at the same time.
3. We bought our first house in an area that was starting to boom, only to have it increase in price by $60k in the past six months with lots of growth still yet to come.
4. We’ve been renovating the house, which is something we have been dying to do for a long time, and we think we are doing a pretty god job as we don’t have time restrictions and we are doing it right the first time.
5. We went on an awesome trip up to Darwin for a week and a bit to catch up with some friends and we only spent $1200 between the two of us!! CHeap as!! That’s flights, accommodation, car hire, everything! Very cool![biggrin]
6. We bought our first IP 6 months after buying our PPOR. That was our biggeest goal. To have two properties by the end of the year and we succeeded!!! YAY!!!Next year…
1. Have new IP tenanted out to nice people, not absolute psychos…
2. Get pregnant…(Well, that’s my wish…)
3. Pump any extra cash into loan so as when it comes time to move into bigger house, the loan repayments will be a lot smaller…
4. Make time to enjoy and develop my hobbies. Fabric painting and sewing. Photography for my hubby.
5. Meet lots new people and generally enjoy our new life.That’s all from me I think.
An absolutely fabulous year for us after several years of mediocrity..
Cheers
STeph.Success is 1% inspiration and 99% perspiration.
1. Start to really pump one of my business (and start to be really proud of it).
2. Start up a Prop Bus (with partner) with 6/7 witin 6mths.
3. Add more lots more properties to portfolio (CF+).
4. Might try my hand at developing… (depends on upfront $$$).Rgds.
Lucifer_auCome on Now.
Dont tell me you guys achieved NOTHING this year. Surely you must have set yourselves some objectives for next year.
Steve – what about you? Surely you have grown your business a bit and set some objectives for next year.
Dont disappoint me.
1. Purchased 1 property. Increased rental return by 3 x, so it’s CF +, still potential to increase return as property not fully let.
2. Finished M Comm by distance ed and 3 more subjects in MBA
3. More involvement in church activitiesFor 2005
1. Investigating 2 more IPs.
2. Taking a break from formal study
3. Looking at some business venturesSo are you guys telling me by your silence to this, that noone has achieved anything in 2004 and no one has any objectives in 2005.
I saw the same thread posted on another property forum and there was at least 43 replies.
Anyway – I was hoping this thread may help and encourage people.
Different crowds Yack!!! [blink]
Ok, here goes.
taken to the cleaners approx 2 years ago by ex and walked away with nothing except the TV.
Played with the stock market and saved like mad for 12 months
Bought a house in a beachside suburb of Perth in Feb 2004.
Capital growth in house about 100k since purchase.
Put small amounts into a speculative style investment over the past 12 months which looks like it will payout in January….phhewww.
Got engaged a few months ago.2005 looks very bright with capital in POPR looking to purchase first, second and third IP’s within first 6 months of 2005.
Wedding planned for Jan 2006.Thanks for input from everone, have enjoyed the posts and have learnt a lot so far.
Sorry Yackster,
2005:
.sell a delightful block of land that we’ve had for a year then,
.buy 2 average IP’s, spruce them up a bit and rent them out.
.IVF again or
.planning a trip to South America. Hmm, the trip sounds good.
Hope this is not too corny and slack…Yack, ok…
In 2004:
– My first child was born,
– My wife became a SAHM,
– I started a new job,
– We moved to Malaysia,
– And rented out our house,
– Completed a 6 month project in China,
– Got a promotion,
– Paid $30,000 off our home loan.Plans for 2005:
– Add $65,000 to net worth through new share investments and/or debt reduction,
– Become more familiar with specific RE markets with a view to buying another property in 2006/2007 if the opportunity is right. (Need to start following the market now to be able to recognise the opportunities.)
– Start trying for no. 2!I just thought it would be an interesting thread to look back on in 12 months time and see how close, if at all, I got to my original objectives for the 12 months.
Its also a good way to see how people feel about property between now and 12 months time and where their objectives and feelings towards property are.
I hope more contribute.
ok yack, here’s a list, not exhaustive though.
2004
1. enjoyed start of married life
2. sold holiday house – clear profit of 170k
3. paid off PPOR with said profit and eliminated all personal debt with left overs.
4. got a pay rise with promise of another in 2005
5. set up hybrid discretionary trust through Dale Gatherum Goss (wish I’d done it earlier)
6. educated myself more re: shares
7. cleared a couple of acres at the ponderosa with future plans of planting grapes so I can make wine.
8. continued to develop our ever growing orchard
9. whacked in a vegie patch which is coming to fruition.
10. watched 2003 purchases rise in value by 45% with yield on purchase price of 9.95%
11. spent way too much time on internet forums2005
1. baby due in July, ’nuff said.
2. go into partnership with my step father and his sisters to develop a deceased estate that was left to them in North Melb, stand to make a lot of money out of this $500k+.
3. play around with shares
4. watch richmond begin a steady climb back to becoming an AFL powerhouse
5. get my pay rise and continue investing
6. build more dry stone walls at the hacienda. I built 110 tons worth of stone walls in 2003 in the lead up to our wedding, had a year off in 2004 to give my back a rest.
7. finish off our 12sq barn and get the top floor ready to live in so visitors can stay there.cheers to all
OK Yack now that you’ve made the point about looking back in 12-months, here goes my basic plan for 2005.
Revalue 4 IP’s in NZ once all the reno and painting work has been finished around March.
Use the CG to buy at least one neutral CF NZ property with high CG potential or buy at least 2 more +CF NZ properties to increase my servicability and if I get any CG from them then that’s just the cream.
Keep watching QLD OZ market to see when the nervous folks start selling off so that I can grab a bargain.
Ideally would like to find a large block with sub division potential or a vacant block to get DA for townhouses.
Ask for and receive a pay rise from my boss.
Enjoy more family time.
That’s my basic plan, cheers, Nobleone [biggrin]
“Making mistakes is just another another tool for learning.”
Yack,
I good thread to start !!!
Hope everyone out there has had a good year in 2004, has a great Xmas & an even more enjoyable ’05
Now for the Pelican List
2004
– Met our target of 40 IPs way ahead of schedule
– Attained freedom from working, though I choose to continue for now….
– Had Baby #4 a lovely little girl…..
– Decreed to get the chop !!! 4 is enough !!!
– Spent more time with the kids, which is what I feel is important
– Got my Go Kart working again, after some serious modifications…… power wise !!!
– Started Phase II for Pelican, which is a move into renos & development workNow for the :
– 2005 Goals –– To own 60 IP/Houses !!!!!
– To return to Aust…..
– To no longer work for someone else
– To play more Golf
– To spend EVEN more time with the kids
– To Drive my go-kart a LOT more
– To spend some time & $$$ working directly with Charities / people in need ( we do this already, but I want to do more…. )
– Mentor more newbies here & offline ( not saying we are experts at all, but would like to help & guide others )Merry Christmas all………….
Hey Pelican,
Good to see you are still out there flapping those wings.
Can you do me a favour… could you put one of those catalytic converters (the pollution control thing) on the go-kart? It might help the environment a bit and save a few more pelicans!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Hi MA,
Nice to see you are back and helping out all the new members…..
Kudos on your newsletter by the way… LOOKING GOOD !!!
Sorry – They don’t have Catalytic Converters for most go Karts… and that is why we use Benzene Free racing fuel….. Burns the skin like hell though !!!!
Cheers
Thanks. I will quietly sit back pretending to know what Benzene is…
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Benzene is a name for the chemical compound used to make petrol.[biggrin]
Eh Monopoly
How about your achievements for this year and your objectives for next year!!!!!
Hi Yack,
Have some more time on my hands (on holidays) so I now have some time up my sleeve.
2004 – The Year That Almost Was.
Moved to new school and immediately saved 1hr per day in travel time.
Reduced PPOR loan by 25% from 12 months ago.
Eldest daughter obtained scholarship and moved to Perth to study for final two years of school.
Current school won a statewide award.
Two staff won scholarships and travelled to USA on study trip.
Chairman committee planned conference for 850+ people.
Completed last two volunteer bushfire fighting modules in preparation for this fire season.
Repainted one units internally and increased rent.
Coninued to invest spare equity into share fund.
Co-funded commercial development in last remaining commercial block in central Joondalup with returns projected between 25%-40% over two years.
Refinanced to access more equity from existing properties in preparation for 2005.2005
Will lend family members some money to provide bridging finance for their new home.
Another one or two IPs.
Continue to release remaining available equity into share fund.
Aim to reduce PPOR debt by a further 25% of current debt level by end of 2005.
Family holiday in Xmas 2005.
Gold Coast holiday wife and youngest daughter in tow March 2005.
Eldest daughter to finish school 2005.
Repaint two other properties in my spare time.Derek
[email protected]Property Investment Support Available. Ongoing and never stopping.
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