Hi Dazzling,
Hey Dave,
We must be at different stages of the accumulation curve, cos that's exactly what I am here for, and what the whole purpose is. Sounds like you are at a more advanced stage whereby the accumulating has plateaued out and you are now looking to "cash in" your chips.....and by that, I don't mean sell.
Yeah mate, "time to smell the roses" for a while me think's.
Could'nt wait till 50 and 65 just aint an option.
We had alway's had the plan to run away to sea when the new boat was done.
We had worked our way up in size for 20 year's and now we are looking to be in a reasonable enough position to do it for a while, in 2 year's anyway.
Just came to the realization that we did'nt need bucketload's of cash to do it.
Just needed to change our cruising ground's to a much cheaper country.
We've been 'feeding the juggernaut' from salaried money now for the past 11 years. It's only been in the past 2 years that the thing has been able to roll along by itself without us putting our shoulder to the wheel. It's a good feeling to finally being able to sit back and watch it roll along unaided..
Good on ya mate, must be a great feeling after all the effort you've both put in.
Our six are cash flow Neutral, with plenty of equity, but no $$$ coming in as such from them yet, but they are pretty much at set and forget stage.
I suppose in answer to your question about where the hell the income side of things actually kicks in, we've taken the approach of finally developing some of the mainly landbank opportunities we have been nursing for a few years now. That's obviously a far more long term thing than what you are looking for right now, but it's something we feel may be the preferred approach to convert some of the inherent equity into realisable cashflow....to always avoid the selling and CGT option...
We'll get our cruising dollars from the sale of the PPOR and doing something like MW suggested with the fund's
We are cheap to keep and expect little in life apart from cold beer, fresh fish and a nice Island to park behind. I know just the place, infact I know plenty.
$60k/year will be more than enough for us to live on very comfortably, even allowing us to do a project now and then to keep our hand in.
MW's suggestion seemed to come up with a bit more than that, and if it work's out that way, will be more than we can spend, or need to spend.
We've currently got our eye on a disgustingly awful chunk of 5 acres, some 9km from the CBD with tons and tons of cr*p all over it.....just the type of thing we like to buy. We reckon give it 2 or 3 years, and we could turn it into a nice big fat new 3 acre shed, sign it up and rent it out for 20 years to some national firm, that should keep the wife in dresses and shoes for a while to come yet.
....
Different league to us mate,
Closest we got to commercial was a place with a nice solid art deco concrete house out front, with a spare commercial block outback 18m x 50m I think. No market for it then, and did'nt think we could afford to hold. Of course it has the shed on it now earning nice dollars.
We were'nt far off a 20 lot subdivision not far back, funding went pear shaped and didnt know about lo-doc, bummer.
But we have a couple of our's that could well have great potential down the track, though the council's way of thinking this week won't allow it.
Give em a couple of year's and they may change their mind.
Plenty of ways to skin the cat Dave....
That there is mate, we only need to skin it a little bit to keep us happy though.
Dave