From: Marina .
Hi,
It was Oct 2000 and I posted a question on "Building your Dream Home and leasing it out."
Well the good news is that after a long journey and some major problems and stress our dream home is now complete.
All our friends and family think we have gone crazy to lease out such a beautiful home, and I admit we are feeling a bit emotional about the house, but this is the way it has to be for now.
Patience is a virtue, and we are happy living in our small old comfy house for now.
I tell you, People think we have gone insane.
This is what we set out to do, to do things opposite to the norm. There are many advantages to doing this and we will stick to this plan knowing that we will be able to live in it later on down the track.
The other great news is that the house and land cost us a total of $450K and we had it valued at $650K.
The other great news also is that we did not put one cent into it, we used the equity from 2 previous OTP purchases we made in January of 2000.
It has been an amazing journey to get to this stage from when we decided to take the plunge into property in Jan 2000.
So many knock backs from the banks, negatives from family and friends, when one door would close we had to think outside the square and look for another door that would open.
The most important factor in all of this is we had to overcome our FEAR OF DEBT.
Now we love the debt. Good debt is beautiful.
When we first discovered property it was like a big secret had been let out.
We were like kids in a toy shop, so excited and enthusiastic. At the start we wanted to share our secret and that is all we ever talked about. Friends and family got sick of us and hence we do not converse about property. I do not know why but now it feels like a big sin talking about property with friends and family.
Its been about 2 years now and in that time I have seen many friends and family buy brand new cars at $40-$50K on bank loan.
It truly makes me shiver..
Both hubby and I still have a lot of learning to do. We are booked into the Steve Navra course and we are going to join the Freestylers network in Melbourne.
I have a feeling that we are going to face some major hurdles with the banks in relation to rental reliance etc and our not so high incomes.
Well as they say "If it was easy everyone would be doing it"
Marina.
Hi,
It was Oct 2000 and I posted a question on "Building your Dream Home and leasing it out."
Well the good news is that after a long journey and some major problems and stress our dream home is now complete.
All our friends and family think we have gone crazy to lease out such a beautiful home, and I admit we are feeling a bit emotional about the house, but this is the way it has to be for now.
Patience is a virtue, and we are happy living in our small old comfy house for now.
I tell you, People think we have gone insane.
This is what we set out to do, to do things opposite to the norm. There are many advantages to doing this and we will stick to this plan knowing that we will be able to live in it later on down the track.
The other great news is that the house and land cost us a total of $450K and we had it valued at $650K.
The other great news also is that we did not put one cent into it, we used the equity from 2 previous OTP purchases we made in January of 2000.
It has been an amazing journey to get to this stage from when we decided to take the plunge into property in Jan 2000.
So many knock backs from the banks, negatives from family and friends, when one door would close we had to think outside the square and look for another door that would open.
The most important factor in all of this is we had to overcome our FEAR OF DEBT.
Now we love the debt. Good debt is beautiful.
When we first discovered property it was like a big secret had been let out.
We were like kids in a toy shop, so excited and enthusiastic. At the start we wanted to share our secret and that is all we ever talked about. Friends and family got sick of us and hence we do not converse about property. I do not know why but now it feels like a big sin talking about property with friends and family.
Its been about 2 years now and in that time I have seen many friends and family buy brand new cars at $40-$50K on bank loan.
It truly makes me shiver..
Both hubby and I still have a lot of learning to do. We are booked into the Steve Navra course and we are going to join the Freestylers network in Melbourne.
I have a feeling that we are going to face some major hurdles with the banks in relation to rental reliance etc and our not so high incomes.
Well as they say "If it was easy everyone would be doing it"
Marina.
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