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Hi from Travelbug

Discussion in 'Introductions' started by Travelbug, 25th Jun, 2015.

  1. Travelbug

    Travelbug Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    313
    Location:
    Sydney
    Hi, Travelbug here,

    transfering from Somersoft.


    In 2007 I had one negatively geared investment property with no equity but I had equity in my PPOR.

    Early 2008 I had just exchanged on a unit in Potts Point and in searching discovered Somersoft.

    A young guy named Nathan birch posted about a meetup so decided to go along.

    Well that was an eye opener. Here were a group of young people with no PPOR who were buying multiple properties. And they cost nothing to hold. REALLY!! How does that work? And why did it take until now for me to find out about this?

    I had just turned 50 and the prospect of retiring on the pension scared me. I assumed I’d work to 60 then go part time. So I set myself a goal for 2015.

    I’m a quick learner and was keen to get started. My hubby wasn’t interested but luckily he trusts me and just signed when I told him I’d bought another property. I knew I didn’t have time to wait around for property cycles to do their thing so decided to buy under market properties which Nathan helped acquire. I soon got my confidence and started sourcing my own properties.

    I wanted a way to fasttrack our equity and cashflow so decided to buy some run down properties to renovate. My hubby got interested then. He’s quite handy and together we did the reno’s, hiring only a few tradies (electrician, plumber, tiler).

    Our aim for each purchase was to do a complete renovation in 5 weeks to increase equity and for it to be cash flow neutral to positive from day one. So we did that a few times and we reached our goal. 2008-2011 was a whirlwind 4 years. But I loved every minute.

    Then the Sydney boom hit. Kappow! Bring on retirement!


    My hubby is now retired and I work part time. I travel 3-4 months a year (hence my name) and am loving my life.

    18 months max will see me out and travelling the world.

    I am indebted to Somersoft and the wonderful people I have met along the way.
     
    Fielding, MsAli, Lollie and 4 others like this.
  2. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,596
    Location:
    Adelaide, SA
    Hey Travelbug
    Was great to meet you & husb last time I was in Sydney. Look forward to hearing more of your stories :)
     
  3. jafeica

    jafeica Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    99
    Location:
    Sydney
    Love your story! How many times did you do the complete reno's?
    Where are you travelling next?
     
  4. Lollie

    Lollie Active Member

    Joined:
    23rd Jun, 2015
    Posts:
    40
    Location:
    NSW
    Well done Travelbug, age is only a barrier if you let it be. How did you juggle working full-time while doing the renos? Do you plan to live off your rents in retirement or sell off some properties?
     
  5. Travelbug

    Travelbug Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    313
    Location:
    Sydney
    We did a few part reno's and completely renovated 4 houses (carpet, paint, floors, new kitchen, new bathroom, removed a few walls). We love it. We were exhausted at the end of 5 weeks after not much sleep. from work to the house everynight for 5 hours. 14 hour days on the weekends.


    September off for 6 1/2 weeks to Dallas, New orleans, Bahamas cruise, carribean cruise, New york for a week and cruise from New York to Canada. Getting a bit addicted to cruising as it's so easy.

    We are just shy of having enough cashflow to retire without touching Super. Sold one unit in Meadowbank. Hope fully selling another soon (if the price is right). Holding everything else until the next boom.. ;)
     
    Last edited: 26th Jun, 2015
    Lollie, jafeica and wombat777 like this.
  6. Nem

    Nem Member

    Joined:
    19th Jun, 2015
    Posts:
    21
    Location:
    Sydney
    Hi Travelbug, your story is great one and inspirational, thank you for sharing and helping newbies like me
    And thank you for books and magazines I've got from you, much appreciated! :)
     
  7. Rixter

    Rixter Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    572
    Location:
    Portfolio Perth Brisbane Sydney Melbourne
    Great story travelbug..thanks for sharing and enjoy your travels. It sounds a fabulous trip.