Finally- Ip3

Well what a difference a year makes.
I bought my 2nd IP in April last year and was feeling pretty happy with myself. We bought under market value and I had 2 IP's yeehah. No-one I knew had 2 IP's.

THEN I found this site just after purchasing. WOW I was a bit deflated looking at everyone else's achievements. It got me thinking about buying more.

So at the end of last year I started looking. Now it was a lot easier when I was lacking knowledge (meaning that I was less picky).

Then the FHB swamped the areas I was looking in. I went to the opposite extreme and NOTHING was a good enough deal. I kept hearing about the great deals (high yield, instant equity deals people were finding).

I guess analysis paralysis set in.

By July I was disheartened.

Anyway I FINALLY found a nice little house. My other 2 are units.
We are going to give it a quick reno (paint, carpet, vanity and new toilet in bathroom, tidy garden).

Can't mention where yet (sorry).
Anyway with a $5K reno I should have $30K extra equity.
Rent will bring it in at a minimum of 7% yield.

Now I'm excited. After the reno I'm hoping to do the same again.

My hubby has never been interested in property (well he likes it but is not interested in research etc). But as soon as I told him I was looking for a place to reno he's gung ho.
He's made lists for what we need, order of doing things. He's allocate jobs etc. Yesterday we ran around all day looking at carpet, paint etc. It's very exciting.
He's even talking doing it it for a job. Now I have to try to calm him down. He works for QANTAS so there is NO WAY he's leaving that job.:eek:
I love my travel too much (see my name).

Sorry to rave but I'm a bit excited (is that obvious?)
 
Keep moving forward

Good onya travelbug.

Onward and upward..........never be deflated :rolleyes: by the accomplishments of those around you (as when you first came to SS).

Rather, be inspired and driven to think bigger. The way to eat that elephant is one bite at a time. ;)

Congrats. :)
 
Congrats & well done TB.

As Player said, dont look at others having more than you - use it as inspiration. Set your goals, keep focused, and actively work towards them.

Once again well done.
 
Congratulations!

Don't forget to post some before & after photos of the reno ;)

Before

mold_house.jpg


After

dolmabahce-palace-inside.JPG
 
Yay! Fantastic and Congratualtions!

You deserve to be excited. Good for you. I hope to see you Wednesday and you can tell me all about it!:D

Regards JO
 
Thanks everyone.
Yes this forum has definitely pushed me into action. I wish I had known of its existence when I bought my first IP. I sold it after the last boom as I was scared of interest rises. We did make a nice little profit but if only . . . .

Looking for number 4 now. My goal was to have 4 by the end of 2009.
Still time:D
 
Congratulations!

I bought a house at the auctions also also.....probably around the corner from yours...;):D

Like you....I have been sworn to silence.
 
Thanks everyone.
Yes this forum has definitely pushed me into action. I wish I had known of its existence when I bought my first IP. I sold it after the last boom as I was scared of interest rises. We did make a nice little profit but if only . . . .

Looking for number 4 now. My goal was to have 4 by the end of 2009.
Still time:D

I know what you mean.


No use looking back though, the road we travel is worth the experience....Forward we march!:)

Regards JO
 
Good onya travelbug - it's a great feeling!!

Like others have said, one step at a time. Just keep making the smart moves and have faith. You WILL get there.
 
Congratulations!

I bought a house at the auctions also also.....probably around the corner from yours...;):D

Like you....I have been sworn to silence.

Now I'm even more curious than I was before!! My poor cat!

Nice work travelbug! Glad to hear that you're excited and loving what you're doing.
 
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Yes....your poor cat...he...he..he...

Did buy one....all I can say is that I have finally broken my rule of investing only in the 5 major capital cities....but hey things change.

Just got okay on 97% finance (including LMI) approved and waiting on the paperwork. Now if I can only find time to renovate!

Now I'm even more curious than I was before!! My poor cat!

Nice work travelbug! Glad to hear that you're excited and loving what you're doing.
 
Hey Travel Bug and Sash

What is this 'sworn to silence' bit ? Are you worried that others will jump onto your bandwagon ?

Sash ...let's play on ...

Clue 1...sworn to secrecy
Clue 2 ...Not Major Capital

Cheers,
Amelia
 
No big conspiracy.:D

It's just that a friend missed out and wants to buy in the area so we said we'd keep it hush hush until he purchased.

He's worried about everyone rushing the place if it's on here.


It's not everyone's cup of tea. I can imagine some people going "Oh is that all"

But I like my little house and am looking forward to renovating it (had the false nails taken off today):(

Few more weeks though. It seems to be taking forever.
 
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