It's the 8th of December and Did You Do Enough In 2004???

[Kristine..]

Yes, folks, it's that time of year again

For sorrowful wallowing while gorging on mince pies and swilling mulled ale.

Oops, wrong country!

For maudlin weeping while eating burnt sausages and drinking warm, flat drinks with insects in them

Yes! Did you do enough in 2004!

Enough what, I hear you ask? Well, as this is an investment forum, did you actually buy / invest / let / renovate / other property related activity in 2004 and was it enough?

Look back to your reply at the end of 2003, did you fulfill your own predictions for this year?

OK

For me, the year was brilliant in some ways and woeful in others.

I painted / renovated / whatevered six places this year, experienced a bout of Bell's Palsy, settled in late January but haven't bought anything since, installed five new tenants, increased a few rents, paid a few bills.

Met some new people, wrote some complex loans, discovered there is no such thing as simple loans, made some new friends, watched my children grow taller and ate the dinners Mike cooked for me.

All in all, 2004 was a year too good to miss.

How was yours?

cheers

Kristine

and

Merry Christmas to you all. The Forum is a part of my daily life, I eagerly check to see if various people have posted during the day, the various characters and differing viewpoints make the Forum hard to resist.

The Somersoft Forum has certainly been a significant part of 2004 for me.

 

[Kathie]

2004 is the year my husband and I discovered property investment and this forum.

I read 'Richest Man in Babylon' & 'More Wealth...' in Febuary; put all plans on hold till June (my sister & her kids were living with us till then); Bought the PIA software in July, then bought first IP in August and two more in November (settling ths week).

We have also built a sleep out in our PPOR in January (increasing equity by $15k for a $6k job) and did more painting and landscaping (increased equity by further $15k between July & November); gutted and renovated a bathroom in IP1 and are about to do a full interior repaint of IP3 this weekend. We'll repaint the exterior of IP2 after Christmas but that will be 2005 so I guess it doesn't count.

So yep - I'd say that 2004 was a pretty good year and we have probably done enough!

I have to say though, that it is the encouragement and inspiration of the members here that has helped motivate us to reach beyond one IP and make the leap from 0 to 3 in three months. As one member (Jimmyjamjars) says in his signature:

Bite off more than you can chew & chew like hell !!

I have remembered this saying an awful lot in the last couple of weeks!

 

[quiggles]

I've got to say that I've achieved a lot this year.

The only goal I didn't win was promotion in my J.O.B. and frankly that gets less important to me as every day goes by. It won't be on my goal list for 2005.

8 new properties, 18 sets of tenants, improvements, beginning a strata title breakup of an existing properrty, finishing a renovation which has increased rents 50%, getting the elder boy through the last year of school - it's been a big year.

Roll on next year!

 

[Aceyducey]

I reckon we underachieved this year - got a bit distracted...

We sold one property, watched two children grow, renoed three properties, founded four businesses (with one failed IPO - being redone next year), wrote five books, dealt with seven changing sets of tenants (pretty stable considering), around a hundred share transactions, several thousand posts on forums and I re-entered the work force to keep from driving Jas batty (sorry the number sequence breaks down halfway through).

We've been to see Peter Spann in the Whitsundays & are refocused for next year, with our goals & plans revised & renewed.

So it's ended on a high note & next year will start on a high one with a long trip to Nepal & Thailand, a public listing, some refinancing & a book deadline in Feb.

All the best to everyone out there for the holiday season.

Remember, no matter how little action you feel you took, look around & you'll see lots of people still on auto-pilot watching their lives go by. ANY action is a huge step forward!

Cheers,

Aceyducey

 

[Twitch]

I certainly haven't achieved as much as others, but at least it's more than what I had done in 2003.

I've bought one IP and am almost finished renovating it turning it into student accommodation, that's been a huge learning curve. Last goal of this year is to complete the reno and reorganise finances to tap into remaining dead equity.

Aim for next year is to get students into my IP, set up a trust, and purchase another 2 properties. Maybe also buy some shares, but maybe not, more reading to be done I think. On the family front we're having another child in the new year which is and

 

[Monopoly]

Happy Birthday my darling Kayla!!!

Well iabove all else it is my precious little girl's 11th birthday today, so I'm kind of reminiscing a bit further back than just the last 12 months.

But nevertheless upon opening this well thought out thread, I decided to participate in the reflective exercise, and as such concluded........

2004 for me was the year:

1. I stumbled across what appeared to be an investment forum, but later discovered was indeed (as someone in here so aptly described it) a fanclub more than it was a forum. I later moved onto better and less "greener" pastures, finding my way here with the help of a few advanced souls, to a place that was not only friendlier, but was relievingly filled with more open mnded people who knew what they were on about.

2. I became familiar with names of authors and titles of books, REAL books, the investment types, that I had never even heard of except for the odd reference that got bandied about at some social function amongst the more affluent "wannabee" gatherings. Two such books actually crossed my path, one as a gift from a journalist friend, which I quickly recycled back into the community, and the other as a "treat" to myself that although proved to be highly entertaining, the context of same was not unchartered waters for me.

3. I exchanged my Marie Clare subscripiton for API instead; a worthwhile exercise, but daresay one that did nothing in helping me match my new designer shoes to my new dress!!!

4. (nearly forgot ) I purchased 2 IPs both in bayside suburbs which IMO should fare nicely as they are so close to water you can hear the fish flapping about merrily!!!

But above all else, dear fellow forum member......

I have learnt some very basic truths:

1. People don't do "blunt" very well in forums
2. People don't like the truth unless it is in line with their thinking.
3. People still look for "quick fixes" to what history has taught takes time.
4. Passion "labelled" as opinionated, cannot (must not) be challenged
5. Real Estate is still just "bricks & mortar" a tangible but not so liquid asset.

All of this, and I'm still here??? For those of you who haven't already, it's the option just next to "new posts" the one that reads "chatroom" click on it some time, surprise yourself and come and say hello!!! I am (and no doubt to others at times) getting pretty tired of me "monopolising" the chatroom, and would love to read some text other than my own on the screen!!!

Have a Merry Christmas, a joyous and prosperous New Year everyone!!!

Jo

 

[qaz]

Well, December 8 2003 I was flying one way from Perth to Canberra. So it seems kinda ironic that this thread showed up today. What have I done in the past year?, i've relocated to Canberra, I've saved away over $10,000 (which I am most proud of), found my first serious job (I didn't consider my old job at Hungry Jacks flipping burgers very serious) and had my investment (bought some shares). Have I done enough?, I don't think so. I hope to get stuck in more in 2005.

 

[toony]

2004

2004

No particular order.

1. Sold an investment property I held for two years. It was negative geared by the $60k profit was handy. As I don’t expect prices to rise for a few more years I thought this year was a good time to take the profit.
2. We have a had a few new tenants. Both lease breaks. Only a small rent increase on the other but room for increases next year.
3. I painted the outside of one unit. Did some curtains on another. I don’t usually do much on them.
4. Renovated the bathroom and painted the PPOR with some help from my brother.
5. My daughter graduated from kinder. She starts school next year.
6. My son speaks a lot clearer than he did at the start of the year and he has completed 3 yr old kinder and is looking forward to real kinder.
7. My job is in pilot mode. We are trying to takeover a competitor and until this is bed down we are in limbo.
8. The local amateur football club I support made the finals for the first time in B grade VAFA. Another milestone for the club.
9. My sister in law got married in Canada. So my wife, kids and I had our trip to Canada. We did Ottawa, Montreal, Vermont in the US, London and Singapore. And I got to spend some time with my in laws. It was a costly trip but at least its been paid for.
10. Assisted my brother in preparing for builders licence
11. Spent too much time on this and another property forum – hopefully I have assisted a few people in seeing the reality of property investing

Plans for Next year

I am well placed now for further growth. Not sure how much I want to commit myself to further expansion. Its important to find a balance between family needs and my urge to invest. So here goes;

1. Renovate a unit in Frankston. The tenants its attracted means it needs a bit of work.
2. Look at a future purchase – it must be a property with room to put a unit in the back.
3. Sell some shares in the company I work for to pay down some further debts
4. Assist my brother in completing his builders licence
5. Spend time with my wife and nurture our relationship
6. Watch the kids grow and offer the advice needed.

 

[cazandpaul]

Caz and I have done some good this year - we have a 10 year plan for retirement and will be working hard to make it happen.

This year we have made a dent in our PPOR mortgage, brought our first IP which is cash flow negative but fits in with THE PLAN and got a little LOC organised to purchase some quality shares. It's also been a good period for super so at the moment things look OK (wish I hadn't said that ).

Next year will continue on against the mortgage to build equity for IP2.

Regards

Paul

 

[Brenda Irwin]

I thought I'd been really busy this year but when I checked my investments I found I've only bought one house this year and sold another.
Still getting to know my portfolio really and assessing each IP's performance. My annual tax return is now encyclopedia sized.

Spent the year homeschooling my two boys aged now 11 and 12 yrs. Didn't reno any IP's but my tradies did bits and pieces. Started reno'ing my own PPOR but can only do it in the little spare time I get. Enjoying it though and thats the main thing when it's your own pride and joy.

Went on tellie a few times, attended a few reno workshops, read various various new investment books (one of which my story is in), and devoted more time to spending time with my children and hubby instead of hairing all over looking for IP's to buy.

I have also enjoyed reading the posts on this forum, some humerous and some downright interesting. Let us all keep up good friendships and investment idea sharing into 2005.

 

[scouse]

Always good to look back and label the successes and learn from the failures.
Bought 2 IP's,
building a new one,
renovated a granny flat attached to one of the IP's
found this forum, learned lots from forumites (even ventured a few posts)
read both Peter Spann & Steve McKnight's new books
finished Yr 11 chinese

 

[Sunfish]

I've had a simple "steady as she goes" year, but it headed in the right direction.

For '05 I hope to do a little more. Sell my PPOR to a developer and do a small one of my own in a mining town, possibly.

I wish all on the forum a happy Christmas with your loved ones around you and a prosperous '05, especially the Cookie Monster in his new venture.

Thommo

 

[LearningMan]

Absolutely HUGE year for us ...

1) Relocated form USA to Japan

2) Lived & worked in Japan for 6 months ( what an experience ! )

3) Took holidays in Thailand & Phillipines and then spend a month touring in Europe ( Geez it's expensive over there !)

4) Read More Wealth from Jan Somers, Rich Dad Poor Dad and the richest Man in Babylon. Together with some Anthony Robbins tapes this got me thinking about big picture stuff and very motivated.

5) Returned back to Sydney and discovered how expensive property is after having been gone for 2.5 years and decided now is not the time to purchase PPOR !!!

6) Reseached a number of Franchises.

7) Met personally with Steve Navra and discovered a whole new strategy on wealth building.

8) Paid off 1 IP and re-financed loan on IP#2.

9) Have invested considerable time reading through the various posts and learning HEAPS.

I think 2005 will be even BIGGER ...

 

[Nobleone]

Hi All,

In January 2004 I suddenly realised that I wasn't getting any younger and I needed to take control of my inevitable retirement and entered into IP's...

I refinanced PPOR into LOC, set up a Pty Ltd and a trust and I now have 2 houses and a duplex in NZ all (nicely) +CF.

Hope to have external renos to NZ duplex all done by mid Feb and then will revalue all IP's ready for the next opportunity.

Read more threads than I can count on this and other forums and added my 2 cents where appropriate.

Made a 4-week trip to the UK and Spain with my wife and son. We're both originally Poms but had not been out of OZ for 7-years.

We are just about to put the finishing touches to sprucing up our PPOR which will makle us feel as though we've also done something as a thank you to ourselves.

All up it's been a good year and if I can do the same again in 2005 (Except the overseas trip - Too bloody far) I will be more than happy.

Best wishes to everyone for the festive season and may we all prosper in 2005.

Cheers, Nobleone.

 

[voodoo]

Hi all and merry christmas.

Well I had a quiet year for Investing but I did increase the knowledge.
I read,
How to lose friends and infuriate your Boss.
10 million in ten years
and, 7 steps to wealth.

I have been thru 3 new surfboards this year and have re joined the gym.

My twin girls are finishing Kindergarten next week and also turning 6.

All in all it has been an emotional year for us, as one of them got very sick and was diagnosed with kawasaki Disease. We have been back and forth to the peadiatric cardioligist in Brisbane...but now we have the all clear.

It was a very emotional and worrying year, but we are now back on track and I never take anything for granted anymore.

Merry Christmas.

 

[geoffw]

I've hardly achieved anything.

No new IPs
Didn't buy any shares
Still in the same j.o.b.
Stayed at home while family travelled
Didn't write any books

Though I guess buying a Subway counts for something.

 

[Sim]

I bought a Subway the other day ... and another a couple of weeks back I seem to remember. 6" tuna on white, hold the olives and onion please

 

[geoffw]

So that means I've really achieved nothing worth while this year. Oh dear.

 

[Aceyducey]

So that means I've really achieved nothing worth while this year. Oh dear.

You did manage to get on TV...though this may not count as 'worthwhile'

Cheers,

Aceyducey

 

[geoffw]

You did manage to get on TV...though this may not count as 'worthwhile'

That was last year