City of Blinding Lights (Part 2)

To understand where this article began, please read ‘City of Blinding Lights (Part 1)

Panorama on Kangaroo Island

Back in my mid-20’s I started looking at property as a viable money maker. But I was unemployed, non financial and, most importantly, didn’t have a credit rating at any bank. So it was a pipe-dream that I kept to myself, yet still perused the market for potential purchases.

Whilst it was an era where Jedi storm troopers would have been approved a loan to build underground housing on Tantooine, I was smart to put my ideas on hold until the time was better. The time may have been good, but my mind was not in a good place.

So the new roads led to where I am now. Leaving the past behind, yet with my mind filled with great ideas, I met and married my lovely wife. She likes that I am an artist before being an office-worker, and that my mind creates interesting ideas before focusing on simple-remedy’s.

Just before the new millennia, my wife and I were financially able to get our first bank loan. It was a buyers-market so we were able to get a bank manager to jump through hoops to give us the money needed.

Over the last 10 years we’ve built so much equity in our loan that we have ample to use for renovations and newer furniture. Plus the land has trebled in value. Now we live in relative comfort, both of us earning sufficient income to enable us to live to the degree that we have become accustomed. By some standards we are affluent. Compared with the affluent, we are naught but your standard suburbanite.

Adelaide Future

Last year (during the Adelaide Plurkfest) I discovered another side of myself.

The journey of my lifetime became most apparent after inviting both local and interstate friends to see our home. Their short visit to my home was quite a spontaneous idea. My wife and I rarely invite others to our home: Mainly because our home is in differing states of cleanliness from room to room. We prefer the visit of family as they are less likely to judge our lifestyle.

A man’s home is his sanctuary, his security, castle, his fortress, and his last line of defence. To allow someone over the threshold is to say “You are friend, you’ve met my trust, and I know you well”. Since there are few people who have ever met these specific actions, it was amazing that I let people in the front door.

Where was I going?! Oh yeah, whilst these new friends stood in my backyard, I somehow mentioned that the wife and I had discovered the method to attaining true wealth. Even as the words left my mouth, I knew it sounded like a late-night American advertisement.

Yet this is how it is for us:

We have a simple and effective method of keeping most of our money longer and making it work to give some return: Our money is invested in real-estate, whereby tenants pay over 95% the mortgage.

This is not an overnight answer to all your financial woes – this will take about 3-5 years with good profit showing after 7-10 years. This is for the generation who are in for the long haul and prepared to work hard – mentally, physically and financially – plus take a few risks along the way.

Be prepared to take a few backward and side steps along the way, teeter on the edge of oblivion whilst investing all winnings back into the business.

Most importantly: Never party before the profits have covered all your expenses!

It is as simple as that. It needs no further explanation. If you want to understand more: Search your heart, not the internet. Oh, and read those books I mentioned.

Re-Panorama of Adelaide CBD

To understand where this article began, please read ‘City of Blinding Lights (Part 1)

Advertisements