Thanks Monopoly.
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
http://www.osha.gov/SLTC/benzene/
Enjoy
ADEnjoy
AD [:o)]
(Andrew)“Work joyfully and peacefully, knowing that right thoughts and right efforts inevitably bring about right results.”
Okay Yack, you win!!!
Forgive me if this does not sit well with everyone, it was not designed to accommodate anyone in particular, but rather a summary of my year as I saw it:
2004 for me was the year:
1. I stumbled across what appeared to be an investment forum, but later discovered was indeed (as someone so aptly described it) a fanclub more than it was a forum. I later moved onto better and less “greener” pastures, finding my way to a place that was not only friendlier, but was relievingly filled with more open mnded people who knew what they were on about.
2. I became familiar with names of authors and titles of books, REAL books, the investment types, that I had never even heard of except for the odd reference that got bandied about at some social function amongst the more affluent “wannabee” gatherings. Two such books actually crossed my path, one as a gift from a journalist friend, which I quickly recycled back into the community, and the other as a “treat” to myself that proved to be highly entertaining and a welcome introduction to the world of investment books/gurus.
3. I exchanged my Marie Clare subscripton for API instead; a worthwhile exercise, but daresay one that did nothing in helping me match my new designer shoes to my new dress!!!
4. I decided to diversify my portfolio more effectively by re-dabbling (with not such a faint heart this time) in the share market, and in just a few short months made the equivalent return that would have been achieved from a year’s net rental income.
4. Above all, I sold the last of my interstate IPs for a 100K profit (in a cool market) and replaced it with 2 IPs purchased both in bayside suburbs which IMO should fare nicely as they are so close to water you can hear the fish flapping about merrily!!!
As for 2005:
1. Continue reading investment books
2. Continue buying property (no more selling)
3. Continue investing in the share marketSorry, if my future goals are a bit sparse but I hadn’t given them too much thought at the moment; I am too focussed on other things!!! [blush2]
Wishing you all a Merry Christmas and a joyous, and prosperous New Year.
Cheers,
Jo
My partner and I started investing in 2001. We each had one house. Since then we have purchased 8 houses – 6 in Queensland and another 2 here in SA. I stumbled on Steve’s 0-130 while browsing in a bookstore (my partner was buying a book – some rock band called Rolling Stones) We are currently stalled but all is not lost, I will be attending the seminar in Melbourne in March.
This past year has been busy –
After three years I have finished my first year of uni. My GPA is high enough to be on the Dean’s Merit List
My son graduated from Primary School and will be venturing into the great unknown of high school.
My younger son (9) has decided to live with his dad full time and spend every other weekend with us. Absolutely broke my heart, but I feel he has to have some say over what he does. I have encouraged both to think and do for themselves – didn’t expect this one though.
My older son thinks he’s nuts but reckons he will be on a good wicket here with being the only child at home.
We have attended my partner’s daughter’s birthday parties 18 and 21 – yes expensive as one is born the day before the other.
We have further developed and built on our relationship to a stage where we both understand each other and smile and laugh alot. (It has been hard won).
Next year
I hope my son changes his mind and realises the grass is not always greener.
Continue our investment property acquisitions. Our original goal was 10 in ten years so will have to set new goals.
Attend the seminar and meet likeminded people and get new ideas.
Continue my education both in the halls of academia and life!
Laugh alot and maintain my networks of friends.
Have a fabulous festive season and I hope to meet some of you in Melbourne.
[cap]
Melinda
Hi Yack,
thanks for getting this thread started. i always like reading your contributions to the site.2004
went on a cruise -fantastic
oldest child about to go into grade 2 – report card gave him excellent for effort for every subject and said that he had extremely good manners and was kind and considerate. ( i think i could cry)
youngest child about to go into 4 year old kinder and can already read and write. (Ithink she’ll be a mini mogul)
My husband and I celebrated our 11th wedding anniversary and still very very happy(yippee)
We bought 2 of Steve’s books and realised that we had to make it happen for ourselves.
Put a plan into action to save $16,000 in 2005 for a deposit on an IP.2005
Hopefully at least one IP
My brother is coming over from Scotland with his new wife and baby
Trip to Hamilton Island (we wouldn’t be doing this except that my brother is coming over)
Save at least $16,000
Ask the bosses for a well deserved pay rise (a really big one!)Anymore wish to share their experiences of 2004 and their expectations for 2005.
Merry Xmas to everyone.
Merry Christmas Everyone.
Enjoyed reading all the posts here, thanks.Here’s our effort for 2004.
1. Jan – Were working in Vic & renovating our newly aquired first IP, when we got a job offer so moved back to SA and started a new job as well – all in 3 weeks!!2. So happy to be near our kids and Grandkids again.
3. Bought a 2nd IP in March.
4. May – Third son was married to a gorgeous girl. We are sooooo lucky to have 3 lovely daughter-in-laws.
5. Bought our first ever shares, through advise of seasoned friend. They are doing so well we wish we had bought more.
6. September bought IP3 our first city house! Loved the fact there was nothing to do and tennants moved in immediately.
7. Job going really well we have found our niche here and love the work and the people. Accepting more responsibility and being rewarded.
8. November – moved our 98yr old Grandma from her own home of 68 years to a nursing home. Very difficult “giving” your Grandma to someone else to look after. She has coped remarkably well.
9. Read Steve’s second book.
10. December – had 3 lovely Christmas gatherings with family. Privileged to have Gran join us for one!
Next Twelve months.
1. Use time off more wisely. We have spent heaps of time spoiling everyone since we returned. Now we want to establish hobbies and exercise regimes for ourselves and our health.
2. Pursue our desire to own a set of four units.
3. Pay extra amounts off our city property.
4. Have a really good relaxing holiday.
5. Do nice things to surprise people.
6. Keep reading this forum.
Wishing you all health and happiness in 2005,
DianeMerry xmas everyone,
2004- Added extension to our PPOR and re-painted inside, carpeted,lino , new kitchen and bathroom.Love the extra room but took a whole lot longer than expected.
-Eldest child to prep. has done well.
-Sold two properties, having difficulty settling one of them as couple who bought separated. The other one should settle in Jan 2005.Rough gross profit $150000.
-Repainted inside, new kitchen of investment property.
2005-Go to New Zealand and purchase an investment property.
– Go 48/52 at work ie Increase my holidays by 4 weeks.
-Holiday to QLD with family in Jan
-Pay off PPOR
-Reduce debt on an investment property in Rockhampton.
[biggrin]Martin
Thanks for those that replied.
As we approach the start of a new year – is anyone else prepared to reflect on their 2004 and note some objectives for 2005.
Thanks again to those who took the time.
Happy New Year to all.
I hope that everyone has a prosperous and enjoyable New Year!2004
– Bought my 2nd IP. Very happy about this as now I can see my portfilo growing.
– Named on the promotion roster for 2005.
– Completed a successful work trip to Tasmania, Hawaii, New Zealand and Christmas Island.
– Relised that New zealand is everything I had dreamed when fishing on Lake Taupo and visiting wineries outside Christchurch.
– Signed on for a further 12 months with work.2005
– To save everything I can for the next 12 months living on bare minimums.
– Deciding what work to partcipate in when I leave this job in 12 to 24 months.
– Keep looking for CF+ properties.
– Read many more PI books and other means of investment.
– learn everthing I can about investing in NZ.
– Sit my power boat licence.
– Subscribe to API
– Establish a family trust, or company once decided what is best for my situation.OK here goes a little of my story..
2004
Set goal of 10 new IP’s and bought 3. 1 property to be sold on vendor terms held me up (and my LOC)and is still holding me up.Aimed to put “team” together – found most of them.
Aimed to read 20 investment books/tapes/CD’s etc and did.
Automatic investment plan worked all year. PPOR debt way down, net wealth up by 30% over 2003. Did not, however achieve 10% of gross income to charity – still need to get there but did what we could.
Aimed to have $100K new passive investment income and achieved $50K.
Aimed to do 1 week RE course in the US and didn’t get there.
Achieved annual sales target at PAYE gig.
Met regularly with other investors as planned.
2005
Obtain 10 new IP’s. Now using a mix of strategies rather than the one I focussed on in 004. And will formalise a business plan for seeking private investor funds.Continue AIP.
Add $100K to passive income.
Find town planner, retail leasing expert, SMSF expert, building fitout expert, explore new brokers/lenders. Also, aiming to have solved a nagging contract clause weakness somehow by the end of the year.
Go to US RE course October 2005, as part of a trip with family to a wedding overseas.
Take at least 4 weekends away with family.
Arrange to go out with hubby (sans kids) at least once per month – try restaurants at Federation Square, see some rock concerts.
That’s it mostly.
Cheers
skippygirlThis is good for me. It’s really easy to write a list of goals here at home, ‘cos I am the only one who sees them. This way, I can’t change them as the whim takes me.
OK, 2004 first.
1. Bought a unit which is sucking me dry.
2. Battled with depression (caused in part by the experience of buying the unit), and won, with the help of Zoloft
3. Started to feel my financial security (not biological) clock ticking.
4. Started asking around about investing in property, and got the titles of a couple of books.
5. Read a Peter Spann and a Jan Somers book
6. Tried unsucessfully to refinance the unit
7. Bought more books on creating wealth though property, including one by Steve
8. Had 3 realestate agents come and value the unit, and decided to put it on the market in the new year
9. Not wanting to have all my eggs in one basket, I sent away for a 3 day course on video about sharesFor 2005
1. Put the unit on the market and sell it
2. Put the money I WILL make on the unit into IPs
3. Complete the course on shares
4. Borrow some money and get into the share market
5. Pay down at least one of my IPs asap, redrawing when I see a good deal and buying more IPs
6. 12 months from when I buy my first IP, I want to have bought at least 5 more (is one every 2 months a reasonable enough goal?).
7. Stop smoking, get fit and lose 10kg[blink]It will be verrrrry interesting to look back on this in a years time
Kez
Any others wish to share what they plan for 2005?
Settle on a property in May and am busily researching market (Melb) to locate property for re-development probably in mid to late this year.
Depending on the feedback regarding interest free loans, would most likely re-finance one of my existing properties.
Look at renovating another IP (previous PPOR), or at least have the costing and designs completed in my mind for 2006 re-furbishment.
However, I am debating (and have been for the past month), whether I go overseas for a holiday in August/September 05 and to visit family as well, whilst OS. Have had 1 holiday in 10 years, so I am probably due, however it would delay purchase for another 12 months ie mid-2006. Not keen on that. Dilemmas[confused2]
On a lighter note, of course, if there are some (well one at least) hot, sexy, intelligent female then that might also be a good investment!
Watch Collingwood win the 2005 GF. [biggrin] No comments thanks, I hear the laughter
Excellent thread Yack, well done for pushing it…
2004 :
1. Recovered from a fairly average position in Feb, where we found ourselves with no job, no home, no car, no school for kids, no bank accounts. Lost waifs in a big bad world.
2. Found rotational employment overseas.
3. Got the kids back into school.
4. Moved 6 times…a tad stressful.
5. Found a home.
6. Bought a car.
7. Accumulated 2 more IP’s.
8. Lost 14kg of fat, gained 4kg of muscle.
9. Celebrated 10 years of happy marriage.
10. Met the bin Laden clan, currently my next door neighbours.
11. Ate in a crowded restaurant where I was the only one not packing an AK47.2005 : May as well make it specific – cannot hit a fuzzy target…
1. Get a job back in Oz.
2. Live permanently with my wife and kids again.
3. Buy 3 more CIP’s or IIP’s.
4. Lose another 5kg of fat and put on another 5kg of muscle.
5. Eat in a restaurant where no-one has a gun.
6. Celebrate 11 years of happy marriage.
7. Teach my eldest to do Maths.
8. Teach my middle one to read.
9. Teach my youngest to talk.
10. Let my kids teach me how to have fun.
11. Start volunteer work.Cheers,
Dazzling
“Go hard or go home”
My main goals last year were to get my sports car ( at 50 properties), for my partner to retire from work and to try and purchase 1 property per week.
I did manage to get my sports car, and actually ended up with 2 ( a red Mitsubishi GTO, and a silver Mitsubishi FTO ), so I now have one for sale ( the silver FTO).
My partner did also manage to retire, which was great, especially since it was about the time that we had initially planned for her to retire.
The 52 extra property target ( 1 more per week) however was not achieved. This was for a couple of reasons, but partly because we attempted 2 major purchases, which could have been jeopardised by buying smaller ones. We also spent a lot of time looking at cars ( My partner also needed a car when she retired, but had to replace it later in the year for something more suitable (She started with a WH Statesman with very high K’s then changed recently to a Ford Fairlane). ( Note that all the cars we purchases were under 20K, because we spent a lot of time searching for bargains – we don’t consider cars to be very good investments).
Note that we did purchase 3 blocks of Flats ( 2+6+4) in Southland New Zealand, and 1 House in the North Island. We also Purchased a Block of 4 in North Qld and an apartment in South Qld. Which was a total of 18 Properties.
Note that last year it was getting much harder to find Positive cashflow properties, due to yields getting lower as prices peaked, and also due to Steve McKnight’s popular books, which promoted properties with yields over 10.4%.
Although this was way below my target, we signed a contract for a block of 90 units at 5.5 Million Dollars, but unfortunately the vendor decided to up the purchase price by half a million after we negotiated and signed, which we decided was not on.
Had this deal gone through then we would have doubled our target.
A later 3.5 million deal on a Nursing Home ( around 60 rooms I think) also came close to being accepted by the vendor.
Both of these deals were very exciting for us, and although we didn’t pull them off, the experience gained was unbelievable.
Other things we did were to set up our own self managed Super Fund, which we are very excited about, and we also invested in a Redemption (Like Vending/ Game) machine, which has performed extremely poorly so far .
We also invested Money into a High Risk Gold Mine that is looking very positive. And we loaned some money to a developer at 20% interest ( Low Risk).
Note that at present we also have a lot of property (in 4 states + NZ) at various stages that we hope will settle over the next few weeks.
They include a near new 3 story townhouse on the Gold coast with 6 bedrooms and 4 bathrooms. A Block of 13 Units in NSW –
6 units and a house in SA -and a house in NZ.
We also have an offer in on another QLD property that hasn’t been accepted yet but looks positive.Regards
John F
Hi all
John you still got the FTO and why are you selling it. Was that a bad buy.
cheers
stargazer
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