Recently Divorced, how do I rebuild with $100K?

Sorry, your post said you were desperate and confused etc , glad you're better now and cool with your head on.
Plan carefully.
Cheers
thecrest

Why cant you get bond assistance from Dept of Housing? maybe you should go to speak to a Womens Coomity Support group and they often can assist or Salvation Army counsellors, they know all the options/ rights and community support possibilities.
Sorry to hear about your cimcumstances, but all things for good reason and maybe you are meant to move somewhere, start a new life and hopefully meet someone nice- as some very good men out there- I have one thank god- he is loyal, trustworthy, great cook, even tempered, smart, has all hair and teeth, he is very religious and a very good person- so I am really blessed, although it hasnt always been smooth sailing- Im a sagitarius,a nd he is a pedantic virgo.

Horses for courses…

I would buy for both CG and CF in each purcchase. Buying 10-20% under market value with 8-10% yield, means it wont impede on your lifestyle, and you will be able to pull your capital out and redeploy into the next purchase.

oo3c, wow. Im on the other side of your situation. She moved on after we had amassed a sizable property portfolio. Just told me she had had enough after 18 years and boom, the dream has ended.

The settlement was that as I kept the house I was to give her a big settlement to buy hers. I took out $450k extra in loans on the IP's which meant the cashflow died from the Ip's to pay the mortgage on my home.

So now instead of comfortable I have a huge personal mortgage and my business is very quiet. I would agree with most here in that you buy a unit or house you can value add and sell for profit.

I had a deal available to my clients last week in Cairns. A fire sale of a 2 storey house for $180k, all it needed was a good paintjob, the resale would have been in the $220k vicinity after spending $5k on it and dada!!! Equity or cash.

I couldnt get anyone on it before it went to auction. These are the sorts of things you need to find, pay someone to do the reno and sell it. Make 20-30k after costs and repeat x 4 each year for 2 or 3 years.

Why arent I doing it?? I need the cash first, so I will have to bite the bullet, sell off some of mine that aren't producing and then cashed up practice what I preach.

Kids are vital for both parents health and well being, but taking care of yourself financially and mentally will mean they see you in a better light.

Good luck on your journey, you can survive and with self confidence and pride.

DD

Hey oo3c,

I was listening to Steve McKnight the other day (so this comes from his mouth not my experience) and he said that you want to buy structurally sound ugly properties. He said (I think more as a rule of thumb than anything) that if you can’t see it, then it doesn’t add as much value as it costs. For example, restumping, fixing termite damage in the walls. If you can’t see it then it is likely it will not add as much value as you put into it. However, if you can see it (like a kitchen and bathroom) then there is the chance of adding value.
s for the $20k on adding value or not, it really depends. I know that is not what you want to hear, but if you know what you are doing you could spend $20k on a new kitchen and bathroom and add a heap of value to the property. If you don’t know what you are doing then you might not add value.
My parents recently sold their house and they weren’t willing to redo the kitchen. So we bought new handles for the doors and we painted over the timber skirtings. All it cost us was less than $100 and the real estate agents came back 2 months later and thought it was a new kitchen!!!
So if you know what you are doing, then yes a kitchen and bathroom can sell a house. We got my parents house valued at $730k-$750k just before we renovated. After we spent 2 weeks and $1,000 on the property it sold for $825k. That could be the market moving very quickly (which it was) but a lot of it (I think) was the presentation.

So to conclude a long winded explanation. Spending $20k can make you your money back and some if you use it wisely. Why else would so many people spend money and time renovating for profit?

I would just start out with the basics- dont waste money moving stuff and removal fees – just take the basics clothes, computer, you buy lots of good things cheap on ebay, deals direct.com.au, garage sales
I left my ex years ago when I was 26 yrs old and came back to OZ with a backpack and $600 aud to my name after 6 yrs- I couldnt be bothered worrying about anything, fights, etc or being upset, or worrying about material things-
starting  again fresh can also be great- you can shop, choose littel bargains, save up for things and you earn them and they are yours- no use fighting over a couch or spending a fortune to move it

you can dress things up a lot also with a few rugs, pics, throws, pot plants etc- you are actually better off than a lot of ladies.

I do a lot of charity work and some ladies leave with nothing, not even 1 cent, and they are escaping violence.
physical or mental etc, there are so many organisations out there that can assist you also and support groups for women.

Depends what work you do as to where you move really- both cities are nice, and Adelaide is not so much traffic, cheaper, and maybe a safer place for the kids to grow up also-
Sydney has gone to the dogs a bit with violence, drugs,
prices are ridiculous, traffic a shambles, graffiti, dirty– I'm from Sydney, but have seen the major decline

Have you thought about Brisbane or Gold Coast, Sunshine Coast- I moved up here 8 yrs ago and love it

Good luck- just chill, move asap, and get into a calm, peaceful environment with no dramas and be happy- life is very short

You effectively have a contract with the ex to raise your children between you. Just as you don’t always like the people you work with sometimes you just have to work with them. I would not move without his permission and consultation with the children.
There are more important things in life than money.
Assuming all are cool with the idea. negative gearing will be added to your income when the CSA calculates your Child support BUT negative gearing on things other than residential property are not added back into your income.
I would look very closely at Positive gearing or or investments other than residential.
I wish my wife had have moved away. Then i would have been able to settle quickly. and the financial strain and lack of support would have brought her back to town. I love my kids and I’m so glad I am am a big part of their lives.
I would rather be broke and have them than rich without them.
The financial cost of her sending them back to me for holidays would have brought her undone.
Best of luck

This is a hollywood plot, right ?