Hi
I met a new friend (aged 48) yesterday and over coffee she told me she just got retrenched. She hasnt got any savings and is happy her rent is not due for 3 weeks so she can scrimp and put some money together. A friend of hers might have a few odd cleaning jobs for her and she will use that money to pay the bills. She also applied for centrelink too.
I woke up feeling very grateful this morning. I am in a very good position and have lots of options. I realise and it reinforces to me that my number one priority is to have a decent amount of savings behind me so that if something like that were to happen to me and I lost my job I wouldnt be stressing out about how to pay my bills. I want to have at least a 6 month emergency buffer if I needed to find another job. I know I wont need 6 months to find another job but its the SANF that I'm after. Its important to have the cash as unexpected expenses come up all the time. You can for instance pay a $2600 roof bill like what happened to me last year with out any loss of sleep.
I truly believe I was meant to meet her. I'm into all this universe and law of attraction stuff and that the universe puts people, situations and events in our path for us to learn from and as a warning! I'm reading this great book called "Ask and it is given - How to manifest your desires" (hicks - the teachings of abraham) Go buy this book its amazing!!
Ok so my plan is to sell my underperforming 41 sqm property. If I sold it today I would get around $240 k for it. I have a $200 k loan on it. I'm going to test the waters in spring like the agent suggested and see if I can sell it for $260 k.
As well as building up my cash buffer through my own saving and selling my ip, I plan to buy in brisbane soon and something that will perform a lot better than a 41 sqm unit.
I still plan to be reasonably agressive with my investing. Currently I have $17,000 in savings after paying for my car in cash and I'm saving $1000 every month.
Here is my strategy
1. Focusing on captial growth with some NG
2. 7 - 20 km from the Brisbane CBD
3. Townhouse or villa aged between 2 - 7 yr old
(means less maintenance/repairs)
4. A bit of depreciation
5. Will attract a good quality tenant
6. Somewhere there is a good rental demand and vacancy rate.
I met a new friend (aged 48) yesterday and over coffee she told me she just got retrenched. She hasnt got any savings and is happy her rent is not due for 3 weeks so she can scrimp and put some money together. A friend of hers might have a few odd cleaning jobs for her and she will use that money to pay the bills. She also applied for centrelink too.
I woke up feeling very grateful this morning. I am in a very good position and have lots of options. I realise and it reinforces to me that my number one priority is to have a decent amount of savings behind me so that if something like that were to happen to me and I lost my job I wouldnt be stressing out about how to pay my bills. I want to have at least a 6 month emergency buffer if I needed to find another job. I know I wont need 6 months to find another job but its the SANF that I'm after. Its important to have the cash as unexpected expenses come up all the time. You can for instance pay a $2600 roof bill like what happened to me last year with out any loss of sleep.
I truly believe I was meant to meet her. I'm into all this universe and law of attraction stuff and that the universe puts people, situations and events in our path for us to learn from and as a warning! I'm reading this great book called "Ask and it is given - How to manifest your desires" (hicks - the teachings of abraham) Go buy this book its amazing!!
Ok so my plan is to sell my underperforming 41 sqm property. If I sold it today I would get around $240 k for it. I have a $200 k loan on it. I'm going to test the waters in spring like the agent suggested and see if I can sell it for $260 k.
As well as building up my cash buffer through my own saving and selling my ip, I plan to buy in brisbane soon and something that will perform a lot better than a 41 sqm unit.
I still plan to be reasonably agressive with my investing. Currently I have $17,000 in savings after paying for my car in cash and I'm saving $1000 every month.
Here is my strategy
1. Focusing on captial growth with some NG
2. 7 - 20 km from the Brisbane CBD
3. Townhouse or villa aged between 2 - 7 yr old
(means less maintenance/repairs)
4. A bit of depreciation
5. Will attract a good quality tenant
6. Somewhere there is a good rental demand and vacancy rate.