An interview with Kathryn D

Live below your means. If that means take in boarders, do it.

I agree.

I see so many people living beyond their means and they don't understand why they cannot get ahead. Many have an entitlement mentality.
 
Great story - and shows it CAN be done in a short period of time on average (or below) wage.

Sadly, many of the whingers in this country wouldn't even consider downsizing to a one bedroom flat or mobile home ... you are an inspiration. Have you thought of writing a blog or book or talking in schools?
 
Really interesting interview.

I find these interviews fascinating as they present a whole different way of viewing the investing journey.

Cheers Kathryn for sharing. I know we butt heads a lot, but massive respect for the level of work you put in.
 
I agree.

I see so many people living beyond their means and they don't understand why they cannot get ahead. Many have an entitlement mentality.

Very true. How anyone expects to get ahead by living beyond their means is beyond me. Yet....they do it.
 
Thank you.



I have jotted down in more detail of how we started this investment journey. Our kids may be interested some day..or possibly future generations.

I reply to other blogs quite often. I'm a computer dummy, so actually having my own blog would be stressful.

On occassion I have put ads on Gumtree offering advice on how to get ahead. I get lots of responses, and they seemed to appreciate the information. I doubt many actually make changes in their lifestyle. There is always a reason why they can't.

"Some day" I may offer workshops for really small groups of people on how to live on a small budget, and how to get ahead. (I'm too shy for talking in front of school groups)

Butting heads is great here. I get to listen and disagree with other people.
I may never change my mind, but at least I know why some people think the way they do.
 
Congratulations on achieving all those milestones in your property investment journey.

Clearly, you have put a lot of work into it and deserve every success in the years to come.
 
Great read

Mobile Homes?

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Caravans :confused:
 
Retire on Rents

Hi Kathryn

Thanks for such a fascinating interview...your investing strategy is pretty interesting ...if i am not wrong, you concentrate on cash flows first before capital gain...you have shown it is possible to retire early without having massive equity gain (of course that is a bonus:p)

So i had this brain epiphany:

If one needs positive net cash flows of say $3000 per month to retire at a minimum , in order to achieve that say from Fixed deposits of 4% conservatively, one needs a nest egg of 900 000 dollars:eek: (assuming PPOR paid off)
Some people may find it mind boggling trying to achieve this and give up!


BUT there is an alternative method to saving for retirement...so many people are trying their darnest to accumulate these humungous nest eggs..but you have done the other way...accumulate small amts of cash flows from each Investment property:)

FORUMITES: DO TELL ME THIS IS A POSSIBLE MINDSET BECAUSE IF THIS IS THE CASE, HEY! I AM ON MY WAY:p

Happy to hear your thoughts and opinions please!
 
Great read

Mobile Homes?
Caravans :confused:

I suspect the closest we have in Australia are houses in mobile home villages (trailer parks).

http://www.realestate.com.au/property-house-nsw-fern+bay-112465315
http://www.realestate.com.au/property-house-nsw-redhead-111917083

They are pretty cheap in comparison to torrens housing, even here, but you still have to pay an underlying rent for the land - unless you own the village :D

http://en.wikipedia.org/wiki/Trailer_park

The four on one block would be like us having four granny flats on a block - or owning the trailer park.;)

I notice site fees here are around $100+/wk so, for the $80,000 job at Redhead, your rent would need to be at least $250/wk to neutrally gear - or $300/wk to get a small income (which may be possible http://www.realestate.com.au/property-house-nsw-redhead-409372871 ) ... Kathryn ... how much are the site fees in your neck of the woods in comparison to rental income?

Is it possible to give an example - ie - purchase price, site fees, rent?
 
Interesting how different strategies can be applied in each area.

In the Port Stephens area weekly fees of $150+ are common in parks (so I have been told by resident)

It can almost be cheaper in a small unit with a better lifestyle and easier to finance.
 
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