Travel or Property? … Our Agonising Decision

Travel or Property? … Our Agonising Decision

Sometimes Emotions can get the better of you…

Some time back we started to amass a property portfolio. While some may think, wow that’s just what I want it’s not all candy and sweets. For those who want the property tycoon lifestyle, be sure you read this to the end. It may have you questioning why it is that you’re so hell bent on driving your life in the wrong direction.

I bought a couple of properties off my parents as they really needed to sell. This was a huge mistake. Firstly is was in 2007 when prices seemed to be still going up. We purchased these with literally no money so as the mortgages were higher than the weekly rent we needed to prop up the difference. Sure initially we could afford to pay out, after all we were in the property game now right. We have tenants and family were looking after my interests so all will be great…..

Then, two catastrophes happened

The sharemarket crash of 2008, yup remember that? It halved the property values. It took 9 years to climb back to the price we paid.

As if that wasn’t bad enough, the tenant caused almost $8000AUD in damage.

With a family that were incapable of pursuing the tenant through the courts for damages I had to fly from Australia to New Zealand to try to sort out the mess.

Rentals…. NEVER AGAIN!

We are now in the process of selling all our rentals, as finally the prices for New Zealand provincial towns has climbed back to breaking even for us.

Natanara Beach – Espiritu Santo – Vanuatu (Our Island Home)

And then there’s the ongoing saga that is Vanuatu.

We love this place, but we’ve come to the conclusion that it’s never going to be a place that we can settle down for a long period of time.

When we first bought we wanted so much for our development. However we knew that it would impact on our passion for travel. We have had to really think about our future and each time we have planned for Vanuatu the rules and requirements have changed (unfortunately never in our favour). Each time we have visited we’ve loved Santo and we have beautiful friends, but heeding conversations and carefully considering options we need to be strategic with our money and don’t want to be caught in paradise with no exit strategy. Travel is our passion and we will need to sell Vanuatu to secure our traveling future.

On Friday I’ll be heading back to the Island on the start of a mission to now sell our beloved slice of paradise.

We have to come to a simple decision, Land or Travel… And for us there can be no compromise. Next week I’ll have to let go of a great employee who has looked after our property for the last couple of years.

While it’s going to be great to be back on the Island… It’s going to be a sad week.

Port Olry – Espiritu Santo our Island home (for now)

 

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