Financial Freedom Finally !

You've already made the best and most rewarding investment of them all!

 

Was it difficult to finance the developments without a PAYG? Were the banks happy to just accept your rental income?

 

Now to turn them into a concreter, carpenter, plumber and electrician

 

I planned ahead and got finance sorted before pulling the pin.

 

MrD
that was a very smart move on your part, especially as we are now seeing finance tightening.

 

I've just submitted last financial year's tax return. I reckon I've got another 10 months to do deals before bank financing dries. Another 1 or 2 development projects should do it.

 

amazing

 

Wow, that is pretty amazing, congratulations.

Would love to hear more about what your investing journey, when it started etc. if you care to share.

 

I wonder if going on the dole would count as being self funded?

 

Great stuff.
I missed achieving it by 40, so it's going to have to be 41.
Definitely won't be working much on financial ventures or doing many projects like you did in my first year off.
Just want to do the stuff I can't do during the regular 40+ hour work week.

 

i'd be interested to hear how you go to your position. what was your strategy, and what types of properties did you buy, etc.

 

i'd be keen to hear too.

 

Sure.
Hi, I'm MrDobalina. Mr Bob Dobalina

 

Would it also work setting up large LOC now?

 

Good read.
Cash flow is King or Queen Nice

 

This is so true. People expend so much energy and goodwill at work, that they have no time left for the things that really matter in their private lives.

I know some very smart people who are absolute guns at work; but when they get home, they switch off and have no energy left to manage their personal finances.

 

No, no children, which was what helped accelerate the process. I left for good right at 30, old by some standards, young by some.

To me, being financially free just means something like, knowing I can walk away from paid employment and pursue some other venture that may or may not make money, but still having enough low maintenance income to bank away a salary as if I was working in case things didn't work out.

I don't think leaving employment without having an income that replaces your salary is a wise thing generally.

 

Accidental investing at first, we bought an otp house in our local area and noticed its value had increased significantly at the time of build completion. We sold it on and repeated about 5 times before the market stalled. That was about 15 yrs ago in UK. We forgot about investing for a while and started again just a few years ago. It was very low key though, cheapish ips in NZ. Some have almost doubled in value since then. No stamp duty helped us to accumulate quicker than we could have done here. We did pay off a lot of debt over the last few years, and that has played a big part in getting us a passive income.

 

I thought we were financially free. Last month, we came back from the wilderness and bought another property. Goes unconditional tomorrow. Largest deal ever and we are 'unemployed and unemployable'. Initially we will rent it (for maybe 3, 5, 10, ... years) and then we will convert it to our PPOR. It is a lifestyle purchase. According to my calculations, we still won't need to work but might need to curb the wife's spending until we move into it. Time will tell.

So, I suppose we are still financially free, just not as free as we once were .

 

No, that is crowd funding