Now hubby hates to make decisions of any sort, but when it came to borrowing for an investment apartment he was adamant. No. Not even a tiny shop. Just in case it needed massive repairs in future.
For once in my life my financial boundaries were very strict and it made me kinda desperate. I just obsessed over property, even a car space or a storage space, anything to get on the ladder.
Every now and then I indulge my habit of watching videos about houses. I have tons of them saved on my hard drive. I have fond memories of watching Property Ladder with my mum and sister when I sold my first place and moved back home. We would camp out in the living room that had the pay-tv, and anyone else who entered the room would be told to shut up because Sarah Beeny was about to tell some idiot property developer that they were being stupid. Then my sister and I would both pull serious faces and say, "and I think that's a mistake" and crack up laughing. Then we'd make fun of my mum's favourite show, Antiques Roadshow, by telling each other that it's a beautiful example of a period georgian vase with lovely filigree pattern of gold lace, I don't know whether you can see at home but the handles are made of the carved bones of slaves! Isn't it just extraordinary the lovely detail that's gone into the handiwork on this vase, this would have belonged to the landed gentry or possibly even to a royal family and passed down though the generations. These kind of vases sometimes go at AWK-tion for up to seventy thousand pounds (oh, really? me grandmuvva just kept it in a mop bucket or sumfink an' I 'ad no idea!) but that if you look carefully under the mahogany and glass section you can see a crack where it has been repaired, which is a shame because now it's only worth fifty pounds, but never mind, it is just delightful, and thank you ever so much for bringing it in and sharing it with us today.
So every now and then I indulge my habit of watching videos about houses.
I just wrote that first paragraph snickering at myself. I get distracted easily.
So every now and then I indulge my habit of watching videos about houses. I watched one where there was this guy who had nothing, borrowed a few thousand pounds, used it as deposit to start buying flats to let out and became a millionaire in five years. But apart from some sales spin and a really sterile bio, there wasn't much I could find online to learn about how he did it. Which inspired me to write a blog saying how I did it. (I don't have the million yet but one can dream.)
Incidentally, the way that I got onto that ladder was to use a bedroom in my daughter's flat, to host guests on AirBnB, which was a pain in terms of the shared bathroom and kitchen, but did actually provide the profit figures to back up the investment potential, and from there, we bought a place.
I figure that it's unlikely I will get to millionaire status (and I really don't need that much money, being quite happily frugal) but it might be interesting to see how long it takes me to own a Property Portfolio (capital Ps) which can actually support us.
We shall see.