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Just following on from the previous post, Mary & I have just been through the process of acquiring private finance in the form of a short term caveat loan, so that we can pay for the motorhome in time for us to collect it. Translation: The lender places caveats (like a second mortgage) on some of our [...] At this point, we have submitted all the applications & we wait. And we wait. Ugh! Because the unit in The Sanctuary is the last one for sale in the complex, & Glencorp have to sell it quickly in order to get the finance needed to move on to new projects, the contract came to us as [...] In order to pay for the converted bus that will serve as motor home & mobile workshop, we are re-financing the whole portfolio for the last time. The funds generated will also finance out travels for (I think) about a year, by which time the “Outback IT Service” needs to be making an income, maybe even [...] Fascinating article by Christine Kane, whom I have been following online for some time. Perhaps this is why everything seems to be coming together so quickly. “Start by becoming a pack leader in your own world and healing your own world, and [...] Wow, when the idea & timing are right, the universe combines to make it happen.?? Here’s the new Outback IT Service website, which coincidentally looks remarkably like this one. Meanwhile, back on the property front, we have commenced negotiations for a major re-finance, so that we can put all of what we are doing into one portfolio [...] It has also occurred to me that while travelling around Australia as we intend to do in around 3 years’ time, I could follow my passion for repairing computers by establishing a mobile professional IT service that is happy to come to you, wherever you are. What a perfect excuse to visit an isolated cattle station! [...] After the credit crunch has come the drastic reduction in interest rates. We spent our Christmas & New Year break motoring across vast areas of northern Australia, relocating a motorhome and a 4WD camper, closely followed by some horrendous flooding. En route, we got to see our house in Mount Isa for the first time ever. [...] Remember that property with the photos a couple of posts ago? Its valuation came in lower than the purchase price, which is unusual for the type of properties that we buy. That meant that we were obliged to find much more cash for the purchase. Fortunately for us, our finance approval had not yet been formally [...] We received an unexpected bonus in our recent refinance process. We are refinancing away from provider #1 (no names, no pack drill) to provider #2, who is providing us with a “Time Out” loan, also known as a “shared equity” loan, which allows us to repay the loan at a reduced rate. It works like this: [...] Finance has now been approved, the painters are nearly finished, & only the external landscaping to go. Thanks to Regina (aka Reg) at Prime Real Estate, our friendly & very helpful agent in Townsville, we have photos.
This is a 4-bedroom house in a brand new [...] |
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