I'm throwing in the towel

Discussion in 'Investor Psychology & Mindset' started by Travelbug, 25th Oct, 2015.

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  1. Travelbug

    Travelbug Well-Known Member

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    Haha! @mja. Funny you posted that. My hubby occasionally drives a make up truck for commercials and he worked on this one. He actually tried to buy that motorhome but someone beat him to it. We had a cheap one similar to that last year but upgraded this year.
     
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  2. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    Lyn, have you had an colleagues approach you to show them there is light at the end of the tunnel?
     
  3. WattleIdo

    WattleIdo midas touch

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    You'd be warmly welcomed in Parkes!

    Great work in a short time frame. Very impressive!
     
  4. Travelbug

    Travelbug Well-Known Member

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    In the beginning I kept it quiet but the cat was out of the bag when I ran out in my lunch hour to buy a place. I asked a teacher to take my kids in in case I was late back. Everyone was talking about it. Teachers are known for their reluctance to change (hence why they often get labelled as luddites) so there were lots of negative comments. A few people did the typical "I'd like to do that". I offered to help but that's where it ended.
    Now of course they are saying "Oh it's alright for you to retire, you have those properties" I just say Yep! that's correct.

    Thanks. At the end of 5 weeks we are stuffed but time is money. No use having a place empty for months because you need 8 hours sleep a night. haha!
    We love doing reno's and always willing to help out. A few people on here asked me to come out and give suggestions which I did. If we are heading your way I'll give you a yell. Maybe I should start a where we are thread as we travel around Australia. haha!
     
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  5. larrylarry

    larrylarry Well-Known Member

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    @Travelbug i think it would be a great idea if you have a reno blog. Please.
     
  6. TMNT

    TMNT Well-Known Member

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    awesssssooooooooooommmmmmmmmmmmmeeeeeeeeeeeeeeeeee!!
    Congrats!! see you on the wild side ;)
     
  7. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    great. Did any say though, please show us the ropes?
     
  8. Tonibell

    Tonibell Well-Known Member

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    Fantastic and congratulations.

    Have you basically gone in hard, made enough money and now have got out ?

    Is there much dependence on the property cycle going forward ?

    Definitely the way I'm thinging about doing things
     
  9. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    That is awesome new @Travelbug. Knowing that travel and photography can be expensive hobbies I'm sure you have budgeted it to a T :)
    A big kudos to you for taking on the challenges like renos and discovering your hidden talents. Taking on those projects has put you leaps and bounds ahead.
    Congrats!
     
  10. House

    House Well-Known Member

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    A Nathan Birch success story! :) What was the $ difference before and after the reno for that Mt Druitt IP in the videos? 4 weeks is very impressive given the condition, did you project manage it with Le Hubby?
     
  11. bob shovel

    bob shovel Well-Known Member

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    Yeah for sure! Start a blog atleast, great way to track where you've been.
    Which way are you heading?
     
  12. jins13

    jins13 Well-Known Member

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    Travelbug, that's what I am like about my IP journey. I keep quiet about everything because it seems like my fellow colleagues think you are doing something illegal and being a scrooge by buying and investing in a property. I don't see how setting yourself up for the future is a bad thing? As far as my colleagues know about me, they think I am a battler that is struggling to make ends meet, which works well for me to have that masquerade. It's true because I can't walk away yet from the workplace so guess it's true.
     
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  13. Travelbug

    Travelbug Well-Known Member

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    No! I offered to sit down with them whenever anyone mentioned they'd like to buy. But you know what it's like. People say they'd like to do something but don't want to take action.

    @Tonibell we did well in a short period. If I wasn't so old I'd have bought in other states and geared up for more cycles. As i have more than a few in Sydney I'm not counting on any CG for the next 10 years on those ones.



    My hubby is ex QANTAS so that helps with the airfares and cruises. The Motorhome travel is quite cheap. Unless I need to upgrade my cameras there's not a lot of cost in the photography.

    We bought it for $165K. Bargain and spent $25k on the reno. We didn't get a formal evaluation but agents said we could have sold it easily at the time for $260k so we were very happy with that. We did everything except the electrical. Plumbing and tiling the bathroom.

    Nothing for a few months. Then Lazing on a beach for a few months then heading to Queensland, taking our time and escaping the winter. We want to spend a few months in Tassie but that will be later. Australia is a big place. So much to see.
     
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  14. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    @Travelbug, that's been my experience as well. I offered one of my colleagues back in 2012 that I could show her how to do the numbers and that she could buy a cheapie and rent it out. It would have been close to a 100% gain. But they didn't listen.

    Then may be last year I said Parramatta had blocks worth $1m...and their jaw dropped.

    I don't understand the reason for the ignorance. People would rather not change as change is painful perhaps? Anyway, it's for another thread.

    Congrats again!
     
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  15. legallyblonde

    legallyblonde Well-Known Member

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    Congratulations! What a great success in such a short period of time! That is some serious equity!
     
  16. Magnet

    Magnet Well-Known Member

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    Congratulations on your early retirement! Must be a great feeling. Very inspirational read, thanks so much for sharing.
     
  17. Vultures

    Vultures Well-Known Member

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    Congratulations, so motivating reading your story. Reminds me not to give up! Happy travels.
     
  18. Jingo

    Jingo Well-Known Member

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    Hi Travelbug,

    From one teacher to another, Congratulations. Your story is inspirational. I am amazed that you have been able to reach financial freedom in such a short time.

    I am sure your students and colleagues will miss you greatly.

    Enjoy your new adventures.

    Regards Jason
     
  19. spider

    spider Well-Known Member

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    I love these stories. My wife and I retired about 7 years ago and travelled overseas for a couple of years on the rent of our PPOR and IPs. Came back to Oz and someone offered me a job and here I am 3 years later. In the 3 years I have been here I used it as a vehicle to purchase more properties (four this year). There won't be any more long term travel but at age 64 I am getting a bit tired of work. I started a 9 day working fortnight yesterday and a 8 day fortnight will commence in Feb and July 2016 a lot of short term travel here I come as I will be working a zero day fortnight.

    S.
     
  20. Travelbug

    Travelbug Well-Known Member

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    That sounds great. way to go! I've been 3 days a week last year and this, which has been great. Yes we are just planning on travelling extensively for 2 years then will see what we decide to do. I'd be happy to park on a beach overseas but hubby loves the motorhome. We also want to spend several months travelling around Spain and Portugal. So much to see. I still have many countries to tick off my to do list also. We are really excited to be off on our adventures.
    Funny I'm not hearing any complaints lately from my hubby about the "stupid properties". haha!
     
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  21. spider

    spider Well-Known Member

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    Travelbug,

    Yes, I don't get any complaints these days. In the "old" days I heard quotes like "I hate property". I recently sold one in Sydney for 7 Figs.........no negative comments about property heard

    S.
     
    Travelbug likes this.

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