It's not about the bling

Discussion in 'Investor Psychology & Mindset' started by Lizzie, 5th Jun, 2018.

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  1. Lizzie

    Lizzie Well-Known Member

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    Arrrrrrrgh - looking for a new investment property or three and hubby is driving me nuts.

    He keeps sending me emails from work with links to "bling" properties of where he'd like to live ... ocean views ... sparkly interiors ... ridiculous strata fees for lifts and pools ... new builds ... small coastal towns with walk-to-the-beach

    I've repeated again and again that we are looking for an investment, a good return for the purchase price, preferably in inner-ish city - NOT - where he'd like to live - and sending him examples of what I'm looking for ... yet the emails keep coming.

    Where is a brick wall I can bash my head against!
     
    Lizzie, 5th Jun, 2018
    #1
  2. Joynz

    Joynz Well-Known Member

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    Sounds like you both haven’t reached an agreement yet about what type of property you are looking for and why. Also sounds like he is trying to help.

    How did you both decide to look for ‘an investment property or three’?

    Time to chat further and I suggest getting him to make notes to help you both reach a shared agreement on what, where, how much etc..
     
    Joynz, 5th Jun, 2018
    #2
  3. EN710

    EN710 Well-Known Member

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    Maybe he’s simply entertaining the idea of living at those place :)

    Or a subtle nudge nudge at you :D
     
    EN710, 5th Jun, 2018
    #3
  4. Lizzie

    Lizzie Well-Known Member

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    I think it's more of a "wish" rather than reality. We already live in a bling property (on the farm) but he would like to add the beach ...

    The reason we're looking is the SMSF is settling on a sale shortly and will be cashed up ... fully understand we can't live in something SMSF owns but he's thinking in terms of buying off the SMSF when we sell the PPOR in around 2-3 years and then reinvesting the SMSF funds ... I'm about investing the SMSF funds now and buying the "live in" in 2-3 years when we sell the PPOR
     
    Lizzie, 5th Jun, 2018
    #4
  5. Biz

    Biz Well-Known Member

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    You're always hanging **** on your husband lol. Poor ******* needs his own sub forum here.
     
    Biz, 5th Jun, 2018
    #5
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  6. Lizzie

    Lizzie Well-Known Member

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    :D ... trust me he deserves it ;)
     
    Lizzie, 6th Jun, 2018
    #6
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  7. Angel

    Angel Well-Known Member

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    I'm currently suggesting all our BB friends and rellos pool our funds and buy a winery at the beach somewhere, with some cabins and a live in nurse. Seems tons better than a nursing home. They tell me I cant have a winery at the beach.

    I see why you are having conflict.
     
    Angel, 7th Jun, 2018
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  8. Scott No Mates

    Scott No Mates Well-Known Member

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    Margaret River? :D
     
    Scott No Mates, 7th Jun, 2018
    #8
  9. Lizzie

    Lizzie Well-Known Member

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    There is a very old saying around here in Wine Country - "how do you make a small fortune from a winery - start with a large fortune".

    Getting him to lean more towards the units. I simply get frustrated when it's so obvious to myself (with the investor head) yet I have to explain, and re-explain, and be the "bad guy" who says "no" (with explaination).

    We did find two houses on one block in a great beachside location, that has a really good rental return in comparison to everything else I've had to analyse - but the return still falls around $16k a year short of the same $$ invested in the stock standard boring units.

    sigh
     
    Last edited: 8th Jun, 2018
    Lizzie, 8th Jun, 2018
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  10. wylie

    wylie Moderator Staff Member

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    @Lizzie how do you get around land tax eating into your cashflow?

    One reason we are developing our double block now and not waiting any longer, is that last year with the review of property values, our land tax literally doubled.

    Property has helped us get where we are. But we need cashflow to continue to allow us to stay retired, and the land tax is taking a huge chunk of that cashflow.
     
    wylie, 8th Jun, 2018
    #10
  11. R.C.

    R.C. Well-Known Member

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    Perhaps hubby would rather invest his money in a Porsche or a boat? :confused:

    :)
     
    R.C., 8th Jun, 2018
    #11
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  12. Lizzie

    Lizzie Well-Known Member

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    hahaha - I'm prepared to do all three - porsche, boat and beachside but we'd be eating beans and rice for the rest of our lives.

    Actually - I'm happy to forgo the extra income and buy the two-on-one beachside houses
     
    Lizzie, 8th Jun, 2018
    #12
  13. Angel

    Angel Well-Known Member

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    Does garlic grow in salty soil?
     
    Angel, 8th Jun, 2018
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  14. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    I have a winery on the beach. It's awesome.

    (Strictly speaking, I have a house on the beach, with wine in it - same thing, right?)
     
    Jess Peletier, 8th Jun, 2018
    #14
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  15. Scott No Mates

    Scott No Mates Well-Known Member

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    Is that where you keep teenagers?
     
    Scott No Mates, 8th Jun, 2018
    #15
  16. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Yes it is - hence the well stocked wine rack. :)
     
    Jess Peletier, 9th Jun, 2018
    #16
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