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A rewarding day today. As part of a painful refinancing exercise I have had properties revalued in Launceston. Purchased for $360K in 2002 just revalued for $1.27 million. Around 12% yield on purchase. No improvements undertaken. Now 17% yield. Nice
OK, now THAT gets you a kudos.We will now take a breather and will review things in around 12 months. Right now we think we will achieve the most by sitting on our hands. We also need to deperately focus on all the neglected areas of our lives because if we are not a happy healthy family enjoying all those simple things that life has to offer then we don't think we are rich at all.
We also need to deperately focus on all the neglected areas of our lives because if we are not a happy healthy family enjoying all those simple things that life has to offer then we don't think we are rich at all.
Once again congrats GoAnna
I remember speaking to you about these at MIG and it was very interesting to hear the story then and I am very happy for you with the valuation that came in. You saw a bargain, then increased the yield through furnishing and it has all worked out. You did the work needed to get to where you were so I am by no means going to call this "lucky" but hard work
As Michael has done so shall be done again - kudos! All too often people get caught up with making more money than they need at the expense of other facets of their life. If you are going to take 12 months off - the next 12 are probably the best in a while to take so enjoy them
Doesn’t mean you can stop posting here or turning up to MIG though!
Cheers
Ben
Well done on getting out of your comfort zone, taking the risks, searching for the best locations to invest, negotiating the deal, organising the finance, covering the initial shortfall, visiting Launcenston dozens of times, preparing thorough spread sheets and business plans for banks, developing the prop after purchase, putting up with sleepless nights and with 6 years of consistent hard work and surgical planning and execution of those plans, you should feel proud of your achievement !
So for those who think you were simply lucky and it was matter of timing, a big thumbs down.
Well done Anita !
Harris