It's Betty Windsor's Birthday and How Is 2005 For You?

[Kristine..]

G'Day

Well, we had the It's the 8th December and Did You Do Enough In 2004, and It's the 28th February and how are you travelling with 2005?

So now it's already 10th June and what's new, pussycat?

How has the year been so far, what do you have planned for the rest of 2005, and more importantly, are you on track for what you thought or hoped or planned to achieve in 2005.

As the end of the Financial Year looms closer and the chorus goes up 'I earned how much and where has it gone!', what have you done for yourself over the last twelve months.

Share a few moments with us. Did you go on a holiday, buy a block of flats, repaint a loungeroom, save for a deposit.

Some forum members have bought and moved into their first homes, others have bought their tenth property, some their twentieth.

It's OK to jump up on the fence and crow a bit from time to time, and now is as good a time as any.

So far this year I have got a job, assisted No: 2 Son in buying his first property, helped Daughter move to University two hours from home, assisted Daughter in buying her car using money from Insurance policies I have had for her since she was two, helped Daughter evict one tenant and install another, helped No: 1 Son in the transition from one good tenant to another, experienced a tenant abandoning a property and now about to install a replacement tenant, taken Mike to a champagne house warming for a customer of mine, done a bit of painting, met lots of new people, written some very interesting loans, laughed a bit, cussed a bit, and decided that one medical centre equals three townhouses and that the townhouses are the way to go.

What about you?

Cheers

Kristine

[Muz]

Hey Everyone,

6 months ago when Kristine asked the same question this was my response....


Well 2005 has seen us settle on our block of land in a HDT (we also have PPOR & 2 other IP's outside the HDT).

Both trying to build 2 villa units and setting up the HDT has been and is continuing to be a huge learning curve

Anyhoo awaiting title (should arrive next week), then plans can be lodged by the Architect with council. Hope to have villas built and rented out within 6 months


So to update you all, we did receive title and are currently working with the architect on final specs to build the units. Hope to have the project completed by Xmas. (Boy this building thing is slow...will be 2years from signing contract to buy the block of land to renting out the units!) :eek:

[skater]

So far this year we have bought 2 houses, both in need of renovation. Finished one, 1/2 way through second. Sold one house that has been for sale for close to 2 years. Yeeehaaa!!!

Hope the rest of the year goes as well.

[quoll]

The shop settled, wife and I are once again small business owners, have 5 staff this time though. So we should be pulling a bit more income by the end of the year which will allow us to pay down some debt and invest in something else, very open door, not sure what else to invest in right now. Maybe another managed business, maybe commercial property, maybe some more shares.

Definately invest in something just not sure what. :):confused:

Cheers
quoll

[Mark Laszczuk]

Quit one job, started another job, lost that job, got 'dream job', bought extra shares in Navra, lived from hand to mouth for a few months, laughed lots, drank lots, sorted finances evaluated friendships.

[pennyk]

This was where we were up to in February...

Well, for us, we are just busy digging ourselves out of the hole of a failed business.

Borrowed money from my parents to keep our heads above water

Finished up all our business relationships with the "partner" who "bought" out our failed business,

I have gained a lucrative contract job,

I'm in the process of changing the security on our IP and business loans, so that we can sell our IP to pay off our business debts...


as for now.... I retrenched my final staff member, so I'm a sole employee again, but the business is much better off for it. We have had a profitable year, and have kept our heads above water. Apart from the ATO, my parents and the bank, our business only has one overdue debt. Which is a HUGE step forward.

The lucrative contract job has turned into a lucrative, full time permanent position, which will start end of July. So, it's going to be a big change in our household. Anyone know a nanny who would want to do after school care!!??

The position also comes with car, so we will need to sell one of ours... Anyone want to buy a Subaru Liberty?!

After the probation period has ended, I'll probably close down our business. In the meantime, I'll contract out the work which comes in.

Our IP is on the market. But once it sells and we are settled into this job, we will probably buy again, but something that works a little better for us in terms of tax deductibility.

My step daughter got engaged, so we are saving for a wedding... There are 5 different families involved - lots of divorced parents. Which is good in that it spreads the costs a little more, but means there are lots of people to invite to the wedding!

So, I kind of feel like we are starting over again, and we'll see where we end up by the end of the year.

Pen

[Bricks & Mortar]

I'm new to this one, so I guess I better start at February like U pen :D


February I was still recovering from an illness which left us standed o/seas.

We spent two months researching for a PPOR for our son, found a beauty in Boronia, soon to encounter some renovations after long settlement. Reconstruction begins in one weeks time. Same son got married in April. That didn't leave much spare time.

Our Baby daughter (soon to be 21) is exiting to go O/seas for two months on 23 June.

Renovations are underway at our PPOR. Kids moving out & we extend :confused:

Plane trip is booked for August to scout possiblity of building Units on existing acre in North Qld, building costs have been prohibitive. Also taking the opportunity to visit Townsville duplex for the first time, purchased this time last year.

Currently, investigating accelerating our portfolio in shares, a new area for both of us despite owning a few, its not our forte.

After the illness the confidence was running a bit low, feeling great now and
starting to investigate properties again..... buying? :confused: dont know when or where but the "eyes and ears" are alert again, might be soon, might be later......... It will depend on the property not the fiscal climate.



Cheers Timm

[Merovingian]

G'Day

Well, we had the It's the 8th December and Did You Do Enough In 2004, and It's the 28th February and how are you travelling with 2005?

This may sound like a stupid question, but who is Betty Windsor? :o

[Kristine..]

Betty Windsor

Elizabeth II, Queen of England

House of Windsor

etc

[Merovingian]

Betty Windsor

Elizabeth II, Queen of England

House of Windsor

etc

Wow, I had no idea she had a completely distinct name! :eek:

So Betty Windsor is to Queen Elizabeth II, what Joseph Ratzinger is to Pope Benedict XVI... I always thought she was simply Elizabeth Somethingarutha.

Does each successor to the throne receive an alias?

[Kristine..]

Well, actually, she is probably Betty Mountbatten, as she married Philip Mountbatten (Prince Philip) in 1947.

Elizabeth Alexandra Mary was born April 21, 1926, and is the elder daughter of George VI and Elizabeth Bowes-Lyon. Her sister, Margaret, died two (three?) years ago, closely followed by Queen Elizabeth, The Queen Mother (the Dowager Queen).

Betty is the common name for Elizabeth, just as Jack is for John, Bill is for William, Peggy is for Margaret etc

So, this was just my little joke! As the House of Windsor is 'On The Throne', it was fairly common to refer to Elizabeth II as 'Betty Windsor', it made her more like 'one of us' (aargh by gum!) rather than stiff formality although she has certainly been a very popular monarch.

As we are enjoying the Queen's Birthday holiday weekend it seemed appropriate to make reference to this as a bookmark for progress thus far this year.

Oh, well, back to the pie and a pint! If I'm lucky there will still be a couple of chippolata on sticks to eat and maybe a pickled walnut or two!!

Cheers

Kristine

PS She is the incumbent Monarch, just as John Howard is the incumbent (occupies the position of) Prime Minister

[Spiderman]

Well, actually, she is probably Betty Mountbatten, as she married Philip Mountbatten (Prince Philip) in 1947.

The Mountbatten name does not go particularly far back, having been changed from Battenberg in 1917 due to anti-German feeling during the war.

Ref http://www.nationmaster.com/encyclopedia/Mountbatten_Windsor#History_of_the_name_Mountbatten

Also the Windsors were previously Wettins, again changed in 1917.

Ref http://www.hfac.uh.edu/gbrown/philosophers/leibniz/BritannicaPages/WettinDynasty/WettinDynasty.html

Apparently QEII's descendents all have the surname Mountbatten-Windsor

http://www.nationmaster.com/encyclopedia/Mountbatten_Windsor

It seems that names tend to be more elastic amongst the aristocracy (John Smith becoming Lord Ponsonby upon Flushing or some equally hideous creation), papacy and film stars than amongst ordinary people (although I know of a divorcee who, rather than revert to her maiden name, changed it to something completely different).

Anyway, all have a great Wettinsday! :)

Rgds, Peter

[Marina]

I am also new to this one and I would like to share where we are at now.

Warning (very very long)

The year to date has been extremely busy and time consuming

-2 leases expired at the same time early in January. Had to tend to both
to do some minor touchups. In constant contact with agents as it was
a difficult time to relet due to holiday mode. A lot of communication and emails here.


-2 houses were in the final stages of completion early in the year and there
was a lot of liason with builders to rectify minor faults, eg plaster, paint,
missing ironing maid, etc. Usual minor building problems.
You would not believe the amount of emails sent to builders.

- After handover of houses, we had to organise our own flooring, landscaping, blinds, concreting and fencing.
So more driving from one house to another and just the sheer organisation
and inspections was draining.
Not to mention heaps of follow up calls and more phone calls.

- As one house was vacant for a while and in a new estate the possibility of theft was high, so poor Peter would go home, have his tea and then go to
the house to sleep.
Not that this helped in the end.
The safety switches from the meter box were stolen . $500 worth of damage.
Had to file insurance papers, file police report, contact origin. More
running around.
The intricate way the wires were moved led the police to believe that a
qualified electrican was the culprit.

2 weeks later , 3 Yucca plants were removed from the front garden.
Yep that is right! At this stage were starting to feel very deflated.

-Had to liase again with realestate agents to find 2 new tenants for the 2 new
properties. Even posted for help here as there was a bit of difficulty.
Had a tiff with one as she was pressuring us to let one house for 6 months.
We said No, and she got upset with us. Peter had to to to the principal of the
agency and file a complaint for non- professionalism. Anyway we stood our
ground and got a 12 month lease.

-Had to file a report to consumer affairs in respect to one realesate agency.
I received a bill for $150 for advertising when no work was done ( long story).
In the end I won my case and fees have been waived. I know it is not a lot
of money, but i had to fight this case on the the principal of the matter.

- Had to organise revaluations of the new properties. One property came in
grossly under-valued and I had to get a 2nd revaluation. Went around
taking photos of comparable properties and made up a impressive folder for
the valuer. Finally true valuation came in.

- Spent a bit of time with mortgage broker organising 1 new loan and an
upstamp, and one refinance. More documentation to provide and heaps
of documents to be witnessed and certified.

-had to organise depreciation schedules for new properties.
-pay bills, bills and more bills. heaps of filing at this stage.
-organising all my tax stuff for upcoming 2005 tax return.


It is now June 05 and all is leased and for the first time in ages we have no
more running around to do.. We have amassed one house per year since 2000, bringing us to 5 homes.
We are so over property now and are taking a least 2 years off.
I never thought I would say this, but I have had enough. The passion has
died! ( for now, but will re-ignite later I am sure)

We are now planning a holiday in October with the kids, and have started to
go on weekend trips away.
We will be selling one block of land In October/November this year and will
have play money for the first time in our lives.

My husband loves his job and will continue to work. I was very fortunate to
be able to get a job working from home at the start of the year.

My kids have also had enough of all this. As my 7 year old
" Mum , we can now have a better life"

Meaning, no more running around, inspections, etc.


Kind regards
Marina.



.

[DD1]

With the stagnation of interest rates (for the moment) and the market slowdown for houses, much of my focus this year has been in heloping others acquire mostly townhouses and units that are all having a bit of a surge at the moment in Qld.

Our personal finances are quite quiet with only one acquisition this year in Feb being anothewr 2 bedder townhouse in Kingston in an area we hold 5 others and 2 houses. So what have we done. Fine tuning would be the best way to view it.

Tightened up management rates with our Qld and Tassie properties through some negotiation. Sold a 5% return house in WA. Changed some loans from P&I to IO, some easily some not so easily. Continually monitoring the market areas we are holding property and seeing where we can possibly move forward.

Handling the usual woes of rental property maintainance, and generally enjoying the life we have created for ourselves.

We have survived a Fairy Party for our now 5 yo daughter, and a 4 day visit from the "outlaws" for my sons third birthday this weekend(they left this morning yahooo!!) and preparing for a reno in a month on one of our recent townhouse buys. So all in all a heads down kind of 6 months with a few exciting options coming out of a recent trip to Cairns to have a 3 day sniff around.
The main eye opener in Cairns was the rediculous body corp fees for small blocks of 8 units having $1684/yr body corp AND NO REAL REASON FOR IT!!!

An identical complex in SEQ would have a b/c fee of $800/yr. It is the fact that the body corp managers think they are gods gift and should be paid $1000 in admin for doing a $200 job. Only one complex with 54 1 bedders in three buildings had a $700/yr b/c. That was purely a numbers deal.

Anyway sorry for rabbiting on, the focus for the future is small complexes to reno and strata and sell off for cashflow. Hope this hasnt put too many out there to sleep.

Happy hunting.

DD1

[The Y-man]

Our situation back in Feb...


My lovely wife spent a few weekends bringing our books up to date, and it appears (all going well) that we will need to take some drastic action in May-June to reduce our tax bill (could be some major pre-payment of interest happening).

The share market continues to give us about 16% pa - the returns of which are currently neutralizing the shortfalls on our properties (which are negatively geared).

We have started spreading our investments into commercial property trusts in an attempt to obtain some stable yield (mix of unlisted and listed).

In a year when I seriously thought I would get out of the workforce, I find myself with 2 challenging jobs (one fulltime, and another almost full time ).

As for residential property, we are offloading another inner city apartment which we foresee as having high maintenance costs in the future.

Cheers,

The Y-man

p.s. I am having immense difficulty typing the word "property" - for some reason it always becomes "propoerty"


Well, I am still having trouble spelling property - so that hasn't changed.

Tax time - we were right - drastic action happening. Fixing and prepaying 3 of our loans as countermeasure. One of the documents sent by the bank was incorrect. Waiting for revised version - hoping it will be processed in time.... :(

Evasive action to countermeasure shortfall - setting up broking account to trade installment warrants and prepay interest.......

Share market trading still going 15~16% EBIT.

CPT's - steady (as you'd expect!) at around 8~9% PA

Full time job - boss retrenched :eek: May not get flxibility with new regime to work second (more enjoyable) work. Serious consideration of options going into July.

Sale of apartment - withdrawn. Tenant had made several "modifications" and place was a bit run down. He's paying rent ok, so one suggestion from Selling agent was to keep him there, wait till he moved, do the place up, then sell. We'll take that path.

Dipping toes in managed hedge funds to diversify.

Another flat vacated - went in to do the clean up - good for age and length of tenancy. New carpet, and only 2 walls and ceiling of paint. Needed new skirting board in lounge - rotted due to rising damp. New lamp shades and back on market. Still vacant after 2 weeks on market. Might lower rent.

Sold car. Now only have 1 left (had 3 at one stage :confused: ).


Cheers,
The Y-man

[quiggles]

If we are going to talk a whole year, I'd have to say that this has been the wildest of my investing life and possibly of my entire life.

I'm not yet free to discuss everything that has happened to me but in a few short months I have:


invested over half a million overseas
discovered more profit than I could have dreamed of
personally moved an investment market
most importantly, discovered how to exit my job without negatively affecting the family


Added to that, I need to thank everyone here. Some are for obvious reasons, as they knew more than me at the time and contributed to my education. Somne are for less obvious reasons as they challenged my attitudes and therefore my thinking. And some because they knew nothing at all but weren't afraid to ask questions and therefore opened my eyes to things I had missed.

Not all of you will know who you are or how I have typecast you.

Thank you anyway, from one to whom you will have given freedom by the time Betty ticks the clock again.

[wish-ga]

Not as eventful or successful as a lot of members. I am plugging away trying to make as many additonal payments on my property as poss to build equity so I can get next property in '07 (or even '06!!!!).

[House_Keeper]

So far this year, I have...

Attended the Navra course. This was excellent and gave me lots of ideas. The main action item is to put in place a few changes to improve serviceability.

Started (again) trading on the stock market.

Restructured managed funds a bit.

Renovated one of our properties in view of selling it later on.

Nothing spectacular, but all theses small decisions will make a difference in the end.

Cheers,

[amokk20us]

2005

- Purchased me first Property as a PPOR after much research and more research settled on a 2 brm Unit in South Brisbane.

- Still plugging along with the renovations, and during this time I have learnt a few valuable lessons regarding TIME/MONEY/EMOTIONAL management. This few months have been an emotional roller coaster for me, swinging from been super motivated to complete the renovations to been deeply depressed by the lack of funds avalable to achieve this goals.

- Turning 24 in a few weeks!

- Budgeting!

- Recieved a small promotion in my JOB.

- Just passed/completed my 3rd semester of Cisco Certified Networking Associate course, part-time course twice a week for 10 hours.

- Completed the ITIL foundations traning course.(IT Service Managment crouse)

- Having to take up a second job to make payments meet, doing free-lance web design.

- Deciding next year I will find a better JOB with my new qualifications, move to Melbourne and turn my PPOR into an IP.

This year has definately been a big learning curve for me, I feel I have matured greatly as a person. learning to take responsibilities and making hard decisions, picking myself up when sh|t hits the fan, learning to better manage my playtime vs worktime.

..and above all I have learnt to enjoy life! the precious spare momments that I have when I can just relax, play sport, be with my friends and party!


PS: its been a while since I last posted, but I have not stoppped visiting here to read and catch up with the latest.