Feeling like I'm stuck!

Funnily, I posted here not long ago as to why not everyone is doing this! But right now I'm struggling a bit.

I feel like I might have to let my pants down a bit to give you a fair idea of my position.
Here are my stats:
Age: nearly 40 (partner is 6 years younger)
Family: Wife, 4 year old, 8 month old
PPOR: $1.5M, $500k mortgage
IPs: 10 with 13 tenancies, value roughly $4M, $2.3M mortgages, $160k gross rent (should be $175k based on zero vacancy and if including recent rent increases).
Salary: Just into the six figures, partner on around 80% of that full-time (she won't be full time for at least two years).
Job: Usually pretty cruisy, but I'm currently in an acting position that's a lot more demanding. This might be offered to me as a permanent position, but I'm tempted to say no, even though that might be career suicide and it pays around $15k more.
Offset: ~$300k

Ultimate goal: If I could choose, I'd like to "retire" and do something like my current business on a 20-30h/week basis. My wife would want to continue working 3 days a week indefinitely.
If our PPOR mortgage was paid off, a "passive" income of $100k would be more than enough. Especially if you add ~$55k my wife would make working 3 days a week.

I've been investing for 12 years now and as you can see, doing reasonably well. But I'm not sure what my next step should be.
I started a company and it was doing pretty well, but I've just run out of energy and the business is really feeling it. Neither of the kids is sleeping through and that plus my work from my job, the IPs and my business is affecting both my wife's and my mental health.
I'm not keen to give up the business as I feel there's huge potential if I do it right, but I feel that I need to set a limit like if I haven't achieved X by Y, I stop it.

I've also got other plans, such as developing one IP (NSW Central Coast) and build 4 ecologically sustainable townhouses. If it goes well, rinse and repeat.
The other (also Central Coast) is building a custom NDIS accommodation.

But currently I don't have the time or the energy to do either.

I'd love to hear your suggestions!

I've also got 95 days of leave saved up at work, but I want to use that to move overseas for a year at half pay in three years time.

 

Typical delimmas of over achievers.

My 2c.

Prioritise your goals. Most important to least. Focus on the top goals and allocate all your energy to them. You can't do everything you'd like to. We just have limited time and energy and you can only delegate so much.

And don't forget to enjoy yourselves along the journey. Work hard. Play hard.

Life really is too short.

And congrats on your results!

 

Even the best high achievers only have 3 projects at once.
You need to take a breather and assess your situations. Pick the best 3 and cut the rest. Otherwise you will be in a lot of hurt and distress. It won’t be good for health and family life.

Example - I have been given an opportunity to earn more money by another 100%. I turned it down on the spot, Because I knew it won’t make me happy and I will burn out again.
Money isn’t everything… family and health is everything to me.

Health before wealth - best to burn that line into your brain.

 

You are are obviously burnt out. Take some time off and don't worry about what will happen in three years time. You might not even be in your current job by then.

Take some time off and think things through with a clear mind as the only person that really knows the answer to your dilemma is you.

As for the little ones not sleeping, find a good Infant sleep therapist and that will hopefully solve the problem or at least help make it more manageable.

As per the posts above, you are doing extremely well but what is the point of doing well if you/your family end up losing your health for it.

 

Spludge, you are a human dynamo. I think you need more time to achieve your targets.

You got a lot of things to run ie family, job, 10 IPs and a company. But you only got X hours in a day.

If possible you may have to turn to family or trusted friends for assistance. And you’d have to look after them for their help.

 

My apologies if you find this intrusive from someone who doesn’t know you, but you sound like my old self 30 years ago.

It looks like your inner being is telling you to reassess where you’re going. Having read a few of your posts over the years, there could be some spiritual needs that you haven’t attended to, or maybe you’ve tried to attend to them by forcing yourself to be what you see as a good person.

Put these needs into the mix and your equation will change dramatically. Best wishes, and again, my apologies.

 

let me share a quote that striked me:

"i was working so hard endlessly to get rich, that i never had time to realize how rich i already had become"

 

Great achievements! Take a couple of weeks, just stay at home chill out, I am sure you will find a focus again. Nothing is ever enough for anybody but you have to decide how much is enough for you/family. All the best.

 

I'd say you've done much beter than that.
You're probably getting a little restless reading the "real estate sell down" type threads of recent.
I dunno about the others, for me the time between first RE investment and RE sell down was 30 yrs. I've posted many times RE is 15-20yr game and I think youi just a little more patience.
What I do know is that things change, people and priorities change.

And that's what changed for me.
I had had grandiose plans for biz and endless IPs...then it slowly morthed into a slow down that eventually became a "couldn't care less" and do what I like on my own terms.
So what's the hurry? Do what you can when you can and tomorrow is another day.
Get sleep, tend to family and patiently build the future as you want it I reckon.

 

The first think I’d do is quit the day job, it’s costing you way too much time which could be put to much better use.
I believe keeping a job holds way too many people back from their true potential and happiness.

 

You've done well!

I agree some of the other commentary around needing to prioritise. I certainly wouldn't encourage you to take on the development projects as they have the potential to layer on exponential levels of stress.

Therefore I strongly agree with this. In relative terms I'm not sure you're being paid enough if that is taking all your energy. Can you take time out to focus on growing/scaling the business up into something to replace this?

 

$15k is pittance of a pay rise for whatever is causing you so much stress.

In my opinion - Take immediate leave right now and sort this out. The longer you leave it hanging like a lead weight around your mental and physical health. Who knows what will kill you next...

Remembering I was in your shoes about 8 years ago at a much younger age. I almost ended up in mental hospital as it was making me physically weak and stress eat like a fat man.

 

Looking at the numbers, your IP income more then covers interest expense of the portfolio and also have enough buffer to eat up any rate increases that is forecast.

So in a sense, for ease of mind. You should just ignore your IP position and try not to worry about it.

Focus on other priority like family, Alas, this is the point in time where you have to chose to make sacrifices. Which as you alluded to, probably helps to answer your own questions from the previous thread.

 

THIS 100%!

Hubby quit work early, way before I'd intended, but to me, it was the best decision ever. He was tired, he was stressed and he was miserable. His mental health was worth way more than a few more IP's or $$ in the bank. Luckily we'd built a portfolio that could support us without the need for the day job.

Take some leave. You said you'd like to make more of your sideline business. Is this viable? Can you live on the income from your Business and from what income your wife brings in? Real wealth is not just money. You don't want to be richest man in the graveyard.

As for developing properties, leave it for now. There's no rush. Rome wasn't built in a day, you know. I feel you are being too hard on yourself and trying to do too much at the one time.

I feel sometimes, we are all here, feeding off of one another, and you want to do more & more & more, but take a look around at the people off of the forum, and realise that what you've built in a very small amount of time, is very impressive.

 

Some similarities to my Hubby. You have to stand up and do what is right for yourself. Working non stop isn't life.

 

And by taking the leave, maybe that higher roll won't be expected of you when you come back....if you do come back.

 

Let’s get to the basics.

You are overwhelmed and have too much going on. So for now, put future development plans out if your mind. That is another layer of stress you don’t want just now.

Two young children are a lot of work - lovely, but hard work at their ages.
Your PPOR mortgage is well under control ($300K in the offset).
Your IPs appear to be in a sound position and should not need too much input.
You have started a company and it has potential, maybe look to maintaining what you have rather than expanding.

Your job, to me, appears to be the area of your life with more choices. You have 95 days of leave, suggest you take 30 days now (medical advice if necessary) to give you breathing space. At worst, this may reduce your proposed year overseas to 10 months.

Take a good, hard look at your job and what you hope to achieve in this career. Given your side investments, it is probably not your future priority. Could you switch back to your regular position and forget the promotion? “Cruising” while your children are so young may be a good idea.

Good luck.

But take some leave - now!