Stories from Somersoft

Thanks! Need to print them all and have a read. I bet it is better than any books! It would be good if you add dates to those posts in the future.
 
Thanks Y-man, very useful and inspring. Can't wait to be 'there' already!

We have been drafting our one page investment strategy, and property projections - and the numbers look 'ridiculously' large .... but its reassuring to see Bigtone's observation when he set his goals.
 
Awesome thread. Incredibly inspiring! Would be great to buy quicker but that would come with learning, time, building equity and applying!
 
We have been drafting our one page investment strategy, and property projections - and the numbers look 'ridiculously' large .... but its reassuring to see Bigtone's observation when he set his goals.

I want to do something like this too but have no idea where to start. I have a goal in mind in terms of the amount of passive income I would like to achieve but that's about it. Any tips? :p
 
Redwing and Y-Man

Its because of posts like this that I am a member of Sommersoft. Inspiring and informative posts by real people, where it is not a "look and moi" *ock measuring exercise.

Simply brilliant

Thanks

Blacky
 
There's a plethora of great stories hidden within the forum :D

I just chanced upon this excerpt from Chrispy whilst looking for something else

Chrispy said:
I had built up to 16 properties. I found that number a lot to handle even with Property Managers. The debt was not that high and easily manageable but I was hands-on all the time, answering PMs questions about replacing this, that and the other.

Some of the properties had doubled in value in a very short time and I could see the writing on the wall for Cairns and knew that if I did not sell them then, I would have to wait some time for the right opportunity to come again.

I sold down to 7 properties in total, over a period of 3 years. Yes I had to pay CGT but I see that as a cost of business. I made sure I did renovations on some of the properties I was keeping, in the years I sold properties, to keep income down.

So I ended up with PPOR and 6 properties owned outright and a nice lump sum as back-up and play money. I made sure I kept the higher value properties, which I renovate, to keep the rents up.

I think the biggest decision I had to make was when to actually retire...I tried it 8 times and each time got offered higher and higher salaries to go back to work. Eventually work was interfering with my travelling, so I knew then it was time to finally retire for good.

While our health is good we need to make the most of our time. We have such little time on this earth when we can afford to do what we want, so I say, make the most of it!!!!

Chris
 
Great stories, most inspirational and better than those in the magazines I buy!
Such diversity too.
Thank you and keep posting them! :)
 
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