The wife and I have been juggling IP’s and children now for the past 9-1/2 yrs.
We were renting and had one IP when the first one came along. We thought we were busy before, but then cranked it up a notch.
We were still renting and had two IP’s when the second one came along. We thought we were busy before, but then cranked it up a notch.
We bought and moved into our PPOR 2 weeks after the 2nd one came along. We thought we were busy before, but then cranked it up a notch.
We bought our 3rd IP when the thrid one came along. By this stage we were flip flopping between house / child / house / child etc. At this stage renovating houses was the most stressful with two young girls afoot, especially from a safety perspective. We managed to negotiate that minefield successfully.
Thank god that pattern stopped and the children didn’t keep pace with the IP’s. Having just purchased # 11, I’m glad the kids didn’t keep up.
Now they are 9, 7 and 4…and are quite comfortable with M&D’s dogboxes. They don’t have to put up with looking at houses anymore, as we don’t buy them now. We all had great fun yesterday cleaning up a big industrial warehouse, and I’ve found they enjoy just spending time with us. Amazing how much work you get through when the 7 yr old is on the end of a broom and the 9 yr old is driving a wheelie bin like her old man, whilst the 4 yr old scrubs toilets and shower recesses with her Mum.
Having said all that, I have stretched all I dare and reached the wife’s limit when it comes to juggling kids / having fun in life vs working on the IP’s. She’s put her foot down, and we are now restricting ourselves to CIP’s that require no cost input, no work and no stress. We have three on our radar currently, all CBD office blocks over the 10MM mark yielding 11% nett.
Obviously the kids don’t need to come on inspections any more, and there is no cleaning or hassles involved….nice to have some of the hard yards over the past decade bear fruit.
The wife has vowed to write a book some day about juggling all of the responsibilities involved and how she did it….I think I’ll just plod along for the fun of it, and slowly introduce the children to the finance side of things after they get the times table under their belt.
Cheers,
Dazzling
“No point having a cake if you can’t eat it.”
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