Over 50 & Now About to Lose Everything

Ace in the Hole · 22nd Dec, 2015

R.B. said: ↑

@nobal I have seen the comments, I have been into the same boat 3 years back, I am an IT guy as well. I am 37. I was made redundant, with 2 kids and non-working wife. Maybe I am a bit conservative, and I cannot sit doing nothing. But I am sure if you spend the required effort, you will be able to keep your property.

I took a week off to arrange for resume update, then I placed an ad on gumtree, and looked for all ads on gumtree. I got a phone call for a carwash for $12 / hour, weekends are a must. And the guy used to pay 1 day and not the other. But I didn’t stop. I went to work every day until I found a 7 Eleven job (same $12) doing evening shift 5 – 11 PM ($300 / week). It was ideal for me to apply for jobs in the morning and going to interviews, and still getting some money to spend, I have done this for 5 months.

Here is what I have done.
1- I contacted my kids school, and they stopped my school fees repayments until I get my job back.
2- My wife started looking for work and did a course and a Tafe certificate during this time.
3- We really cut expenses to the minimum, we spent $300 for the whole week including everything petrol, clothes, food, bills,…etc.
4- Contacted the bank and reduced the house mortgage repayment to the minimum available

And after that I got a contract job in a different state for 6 weeks, I didn’t negotiate or ask. I just packed my bag and went there, got a shared accommodation.

Guess what happened:
1- The contract got extended to 15 Months because of the effort I was doing. And I got a job back in Sydney before my contract ended.
2- I got paid 2.5 times my normal rate (saved in 1 year what I used to save in 4 years).
3- My wife finished her certification and got a job, and now she is paying for all bills / Mortgage / and house expenses. And all my pay goes into savings / Offsets.
4- Because my offset is getting bigger, I am paying monthly interest less than 1 week rent for a similar properties rented in my street.
5- We have managed to buy 2 properties, and negotiating on 3rd one this week.

Please look for different options as not to sell your property, you may not be able to get it back for different reasons. You mentioned that overseas trip can cost around 5K’s. Yes, that’s cheap, but how long does it take you to save the 5K’s. Did you think about that?. Maybe work until you save the 5K’s, and then you can spend it for the overseas trip.

I have seen this happening to couple of friends and family, and it really ends very bad. Do your best to keep your place.

I hope this helps
Thanks
Ramez
Click to expand...

Great example Ramez, well done
Shows what can be achieved when you have the right attitude, things always work out in the end.
If you go in with the wrong attitude, you're beaten from the start.
Someone doesn't seem to get that bit....so nothing is to change for them unfortunately.

Gockie · 22nd Dec, 2015

R.B. said: ↑

@nobal I have seen the comments, I have been into the same boat 3 years back, I am an IT guy as well. I am 37. I was made redundant, with 2 kids and non-working wife. Maybe I am a bit conservative, and I cannot sit doing nothing. But I am sure if you spend the required effort, you will be able to keep your property.

I took a week off to arrange for resume update, then I placed an ad on gumtree, and looked for all ads on gumtree. I got a phone call for a carwash for $12 / hour, weekends are a must. And the guy used to pay 1 day and not the other. But I didn’t stop. I went to work every day until I found a 7 Eleven job (same $12) doing evening shift 5 – 11 PM ($300 / week). It was ideal for me to apply for jobs in the morning and going to interviews, and still getting some money to spend, I have done this for 5 months.

Here is what I have done.
1- I contacted my kids school, and they stopped my school fees repayments until I get my job back.
2- My wife started looking for work and did a course and a Tafe certificate during this time.
3- We really cut expenses to the minimum, we spent $300 for the whole week including everything petrol, clothes, food, bills,…etc.
4- Contacted the bank and reduced the house mortgage repayment to the minimum available

And after that I got a contract job in a different state for 6 weeks, I didn’t negotiate or ask. I just packed my bag and went there, got a shared accommodation.

Guess what happened:
1- The contract got extended to 15 Months because of the effort I was doing. And I got a job back in Sydney before my contract ended.
2- I got paid 2.5 times my normal rate (saved in 1 year what I used to save in 4 years).
3- My wife finished her certification and got a job, and now she is paying for all bills / Mortgage / and house expenses. And all my pay goes into savings / Offsets.
4- Because my offset is getting bigger, I am paying monthly interest less than 1 week rent for a similar properties rented in my street.
5- We have managed to buy 2 properties, and negotiating on 3rd one this week.

Please look for different options as not to sell your property, you may not be able to get it back for different reasons. You mentioned that overseas trip can cost around 5K’s. Yes, that’s cheap, but how long does it take you to save the 5K’s. Did you think about that?. Maybe work until you save the 5K’s, and then you can spend it for the overseas trip.

I have seen this happening to couple of friends and family, and it really ends very bad. Do your best to keep your place.

I hope this helps
Thanks
Ramez
Click to expand...

You're an inspiration Ramez. Thanks for sharing your story. It was an amazing post to read. Well done and kudos!!

Just goes to show... if life kicks you... you gotta get up. Not all job losses are for the worse.
If life hands you lemons... you gotta make lemonade.

Property Twins · 27th Dec, 2015

@R.B. Thanks for sharing that. So inspiring. Your words speak volumes about character building! Well done!

ellejay · 27th Dec, 2015

R.B. said: ↑

@nobal I have seen the comments, I have been into the same boat 3 years back, I am an IT guy as well. I am 37. I was made redundant, with 2 kids and non-working wife. Maybe I am a bit conservative, and I cannot sit doing nothing. But I am sure if you spend the required effort, you will be able to keep your property.

I took a week off to arrange for resume update, then I placed an ad on gumtree, and looked for all ads on gumtree. I got a phone call for a carwash for $12 / hour, weekends are a must. And the guy used to pay 1 day and not the other. But I didn’t stop. I went to work every day until I found a 7 Eleven job (same $12) doing evening shift 5 – 11 PM ($300 / week). It was ideal for me to apply for jobs in the morning and going to interviews, and still getting some money to spend, I have done this for 5 months.

Here is what I have done.
1- I contacted my kids school, and they stopped my school fees repayments until I get my job back.
2- My wife started looking for work and did a course and a Tafe certificate during this time.
3- We really cut expenses to the minimum, we spent $300 for the whole week including everything petrol, clothes, food, bills,…etc.
4- Contacted the bank and reduced the house mortgage repayment to the minimum available

And after that I got a contract job in a different state for 6 weeks, I didn’t negotiate or ask. I just packed my bag and went there, got a shared accommodation.

Guess what happened:
1- The contract got extended to 15 Months because of the effort I was doing. And I got a job back in Sydney before my contract ended.
2- I got paid 2.5 times my normal rate (saved in 1 year what I used to save in 4 years).
3- My wife finished her certification and got a job, and now she is paying for all bills / Mortgage / and house expenses. And all my pay goes into savings / Offsets.
4- Because my offset is getting bigger, I am paying monthly interest less than 1 week rent for a similar properties rented in my street.
5- We have managed to buy 2 properties, and negotiating on 3rd one this week.

Please look for different options as not to sell your property, you may not be able to get it back for different reasons. You mentioned that overseas trip can cost around 5K’s. Yes, that’s cheap, but how long does it take you to save the 5K’s. Did you think about that?. Maybe work until you save the 5K’s, and then you can spend it for the overseas trip.

I have seen this happening to couple of friends and family, and it really ends very bad. Do your best to keep your place.

I hope this helps
Thanks
Ramez
Click to expand...

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Over 50 & Now About to Lose Everything

Ace in the Hole Well-Known Member

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Over 50 & Now About to Lose Everything

Ace in the Hole Well-Known Member

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Property Twins Mortgage Brokers & Buyers Agents Business Member

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