With this portfolio of properties and a toxic work environment, what should we do?

What do you think my husband should do?

  • Find a job in another area of IT

    Votes: 3 6.7%

  • Find a job in a different industry

    Votes: 2 4.4%

  • Go into property development

    Votes: 1 2.2%

  • Start a small business

    Votes: 4 8.9%

  • Quit his job and retire

    Votes: 35 77.8%
  • Total voters
    45
  • Poll closed .
catswallow said:
Any advice would be very welcomed.
Click to expand...

I'd love to have a chat one on one. You sound like you're half ***ed organised. Well done.

If your property empire was a Saturn V rocket, it appears from your figures that you're at an altitude and both ready to jettison the primary booster and looking around for guidance before firing up the second stage boosters.

Not many people know much about that phase......but you find out soon enough that orbiting at the same altitude tied to your primary boosters ends up being quite unpleasant.

Flick the switch and unleash your potential. Call me.

http://www.youtube.com/watch?v=9DNnZ82Kg3w
 
devank said:
To me, it all sounded genuine.
Click to expand...

Yeah, genuine, no doubt.

I just don't understand why smart people (these guys have done really well)with so much money don't know how to live.

Maybe it's time to start doing some work with handicapped kids or visiting people in hospital. Not too many people would pick on them then.
 
Thank you for all your replies! Your advice are very much appreciated! I would like to clarify that we did not start from scratch. We started off with 1M that was given to us 8-9 years ago. This is why my husband does not want to quit working entirely.
 
ok - so you're normal people.

So maybe after a baby-break, he'd be happier doing something more human-centred. If he has shut down a bit because of his job and the toxic environment, he might need to spend some time exploring what his real talents are.

I'm the one who voted for a change in job because as much as I dream about lolling around painting walls, gardening, cooking, etc, work is great when you get the right job.

You're in a great position. Good on you.
 
No amount of money can repair ill health

it is far better to live stress free and happy with less money than
to have all the money in the world that comes with stress and unhappiness.

when you stress free you enjoy life far more, the holiday becomes more enjoyable as you don't have anything on your mind to think

your day is brighter as you get up and look forward to the sunrise with nothing ahead that trouble you

you spend more times with your kids and watch them grow up and instil your happiness into their life.

money can not buy these things in life, only contentment and happiness bring such joy.

and a wise man once said

Money can buy a house, but not a home.
It can buy a bed, but not sleep. It can buy a clock, but not time.
It can buy a book, but not knowledge.
Money can earn a position, but not respect.
It can buy blood, but not health, so you see, money is not everything in life.
 
What does he enjoy doing?

If he can find something that will interest him and is in a pleasant work environment (even if for less pay), then he should do it. Continuing to work sets a good example for the kids. Maybe even working for a charity.

Your equity is great, and as Dazz says in his round-about way, there would be some terrific commercial opportunities available using even a portion of the portfolio.

It could have a higher yield overall - say 9%+ on a $5 - 8 mill purchase at 70% LVR. Great cash generation, and if its a site with multiple tenants, risk is reduced.

This range is generally above what the normal mum and dads look at, but below what the institutions prefer, so can be a sweet spot.
 
Money can't buy you happiness, but it can buy you a yacht big enough to pull up right along side it. - David Lee Roth

catswallow, I strongly recommend you take up Dazz on his offer for a chat. The man knows his stuff.
 
Well done catswallow. Remarkable investing!

Over what time frame has your investment journey endured? And how many properties comprise that 3.8m?

Definitely let him quit the job. Yours too if you have one. Take some time out, far away and without phones. When you return I promise things will be clearer. You'll both fall into what you're meant to do.
 
You and your husband are impaired.
The job has affected your health and stress levels and as such, you cannot make informed decisions about permanent changes.

I suggest some time out. As people in your late 30's you have a lot of time. use it.
is there a way to put the brakes on? stress leave, holiday leave, LSL? even leave without pay? Study leave? enrol in a higher education scheme.

Note I don't say "Study for one" just enrol. if you enrol for one then you can always defer and it sounds better on the cv then "did nothing". quitting your first attempt at a masters etc is mandatory!

do nothing for the first while. Repair. Reacquaint yourselves with deadlines and communications that are set only by your wants.
Take a deep breath, and then? write the list again. there are so many more options!
 
catswallow said:
My husband and I are in our late thirties and we live in Melbourne. We have one child but are planning to have one more. I am not working at the moment. My husband is in a very specific area in IT and changing jobs is quite hard. He is very unhappy with his work environment. He has endured workplace politics and workplace bullying daily for a few years. It is up to a point where this is affecting his health and our lives, and so we are considering our options. Any advice would be very welcomed.

We have the following properties portfolio, all of them are fully paid off:
1. 3.8M investment properties, rental income is around 140K after expenses but before tax
2. 25% shares of a 10M development site (shared with family members negligible income)
3. PPOR

Should he:
- Find a job in another area of IT (after doing a relevant IT course)
- Find a job in a different industry (after doing a relevant course)
- Go into property development (the only experience being successfully applied for a DA)
- Start a small business
- Quit his job and retire

Thanks very much for reading/advising!
Click to expand...

Hi catswallow,

Your financial position is better than me and i'd bite the bullet and semi-retire.

I'm currently in a job i enjoyed but when your expected to do 2-3 peoples work,somethings gotta give.I'm currently on workcover on light duties but seriously i'm sick of this ****.

You know i need time off but no one wants my shift.PITA.

Farkin over it,

Cheers Spades.
 
catswallow said:
My husband and I are in our late thirties and we live in Melbourne. We have one child but are planning to have one more. I am not working at the moment. My husband is in a very specific area in IT and changing jobs is quite hard. He is very unhappy with his work environment. He has endured workplace politics and workplace bullying daily for a few years. It is up to a point where this is affecting his health and our lives, and so we are considering our options. Any advice would be very welcomed.

We have the following properties portfolio, all of them are fully paid off:
1. 3.8M investment properties, rental income is around 140K after expenses but before tax
2. 25% shares of a 10M development site (shared with family members negligible income)
3. PPOR

Should he:
- Find a job in another area of IT (after doing a relevant IT course)
- Find a job in a different industry (after doing a relevant course)
- Go into property development (the only experience being successfully applied for a DA)
- Start a small business
- Quit his job and retire

Thanks very much for reading/advising!
Click to expand...


I am very impressed by this, your home life appears to be completely in order.
Your husband only needs to quit his job.
He should rent a movie called "Office Space" and also "American Beauty"

This will enable him to quit his job in the funniest and lucrative way possible for yourself and him, and the most frustratingly spiteful way for the company and politics he has had to endure.
 
Catswallow, your described net worth is excess of 7 mil which puts you in the top 0.5% of the Australian population. That is a very enviable position which many of us aspire to. So there is no reason to put up with any unhappy situations whatsoever.
 
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