Goals for 2017

Same and I did. Just bought two more. Didn't want / plan to but deal was too good to pass up.

Now back to smashing the PPOR debt and building up LIC portfolio.

 

Update: renovations... ongoing
Townhouse: stuck in pre-start since Jan

 

Probably won't have another property this year. Still rebuilding buffer!

 

What happened?

 

It's complicated. Basically, lots of changes to the contract. These were raised as variations. Some variations were not correct and some I rejected. Then there was another round of variations. It went on. I think we are close now but there still some small matters to be resolved.

 

Personal:
Give more time to parents
Resolve sleeping habits
Eat home cooked food
Pick up a sport


Career:
Do a couple of IT certifications that lapsed last year
Get a project in a different skill area

Investments:
Buy another property
Build buffers
Sort out insurances and wills
Look into share investment

 

Hi @Gypsyblood, I'll be down in Melbourne the weekend of 24th June. Let's catch up? I'm a female also in IT and can talk with you on several of your goals

 

Hey that's awesome! I will PM you. I am traveling overseas for 3 weeks from 20th June though. When are you next here?

 

Ahhh... no idea. Perhaps come to Sydney though!

 

Or that my next project might be in Sydney! A good few months away though.

 

It's May. Soon would be Christmas. Pick up keys from new build on Tuesday. much to do after. Buying anymore this year? Maybe, maybe not. going to channel energy into something else.

 

A Bit of a mid year review on my goal I set at the start of the year
My property goal took longer to get done then planned as we done extra work then planned how ever the valuation has giving us more then expected so that's great .
Iam now in the process of preparing the sale of the ppor which will fund two more Reno projects that I have secured off market one will be a flip and the other will be our new ppor

Spending more time with wife has sort of been working , how ever she is finishing FT work soon and will be working a lot more together in the renos and planned trips away

Our money spending habits are slowly improving but still need to work on impulse spending

I have allways set small goals I think and not been strict if I never accomplish them , this year year I have achieved so much finincially im so happy to be where we are and are going to make some bigger money goal to achieve in the short term very soon
Dan

 

Mid year update:

Debt recycling is slowly happening - however the majority of this year has been spent putting aside cash buffers. Good news is - my wife is comfortably home with my daughter, but that debt recycling target is a little higher than we are currently achieving. Now the buffers are basically at their target levels the recycling can accelerate.

Contracting going well, had an interview for my next contract yesterday. In terms of building the business - it's a 3-5 year evolution - however I am putting in a consultative tender with a local council soon. So diversification of income sources is slowly happening. I've also built my website and blog and plan to formally launch in the next 2 months.

My baby is the best. I love every moment with her. I'm doing well at this goal so far.

It's written, and we have found an illustrator - we just need to confirm format. We are a little behind schedule on this one. No idea how to publish it sustainably.

Current body fat % = not budging.
Bench = I hit 70kg 1rp max the other day.
Squat= no change in PR.
my gym work has been slack - struggling to prioritise the time at the moment. (4hrs commuting, 8hrs work on contract plus a further 6hrs on business, investing and skills development (4hrs of those are the commute), plus food, family, sleep)

 

Where did that year go? I haven't visited my ips yet but have that booked in to start next month I did check out the subdivision and have plans drawn for a second dwelling. Build cost about $220k total, will rent for about $380pw and value around $380k. I just need to find about $200k

Commercial just didn't happen for me but I did:
Buy an ip in Perth I can subdivide when things pick up,
Bought 2 unit block in NZ $260k total purchase. Spent $5k and now renting for $270 pw each. I'll also look to get these revalued to around $170k each.
Bought 2 cf+ ips in US 10% net yield.
Finally bought a block with sea views and 5min walk to the beach on south coast nsw.
Getting started in business working part time for a property business, and doing my own projects.

I also learned something about small businesses after looking at a couple and having a go at using their strategies. The amount of work that goes into setting up and running these looks phenomenal. Gains, at least at the start look minimal and I was really suprised at the small amounts some earn. They'd have to be better off financially in a job. I learned to appreciate what I have.

 

Updates in red.

 

My updates in Red.
* Get a great performance review - I did actually! My boss awarded me 2 of the "role model" (I forget the actual wording) category for my performance review - he didn't award that status to any of his other staff. He says you really have to be a role model and it needs to be clearly justifiable to the management if you get this in your review. So that was wonderful.
* Apply for and get a well paying job using my skills (could start a business of some sort but would need to think that through... need a mentor.) - Yes. This year I've had a 41% pay uplift.
* Settle a sale and move the furniture! - Done
* Settle a purchase and get it ready for airbnb/short term letting. Done. Though, not sure what I will do with it in future as yet..Consider Reno on this (addition of second bathroom) later in the year. - maybe not. Hopefully I can talk the partner into debt recycling. - Even though I got him to go to the Peter Thornhill day, he won't allow me.
* Consider selling another one (next fin year). It's done its boom and it's negatively geared if I consider the current value of it. - Not going to sell anything this fin year... too much tax, not worth to do it.
* Smart looking shed for backyard. (Need the partner to agree) -no action though I talk about it every now and then, like monthly.
* Submit taxes for last year (I owe) - Tax return done, and yes, I owe. Not submitted to delay the repayment.
* Use new accountant. - done. However very ironically, I had been using an accountant in North Sydney since 2009. (I worked there between 2009 to mid 2012). I just moved over to an accountant in Western Sydney. Now I'm working in the City/North Sydney again.
* ? Commercial property. Start doing something about this. - Decided not to. But started investing in shares, low hassle.

Other:
* Try to improve that Chinese (I suck) - Did more classes. And Canto Classes. And was able to use my Canto in Macau. Happy.
* I would love to see my ab muscles again like I used too.... I really love my shoulders though. I've been asked if I'm a swimmer... --Actually looking good imo on these aspects. Not as good as a few years ago, but still. I think Unicycling is working the small back muscles a lot because I'm unicycling around my block and they do actually feel tight/tense when I unicycle. And I installed a chin up bar at home, regaining upper body strength.

The other thing I noticed is that I've been buying properties over the December period over the past 3 years. It might just be a coincidence but it works for me. I want to keep that up as a tradition.... It makes for a fun Christmas gift.... [/QUOTE]

 

Bought not 1 but 2 IP's in different states so the goals exceeded! And off on 2 cruises the first one leaves on Saturday and goes over Christmas day and the next one 5 days later.