Hi,
Looking for some advice on my future.
Will give you a background of my current financial situation then my employment career to give some sort of numbers/career that I currently have. Ultimately I am looking to set up a a franchise business in the food industry, I have my eye on a up and coming location within Auckland which should see good population growth in the coming years.
My current financial situation and assets looks like this:
PPOR: $860k (MV) $390k (mort)
IPs: x 3 - $980k (MV) 30% LVR (All 3 positive/nuetral cashflow)
IP goal is to have 10 and reduce to 5 to pay off all mortgages, live of rental income. Slowly working towards this and happy with where I am at at present.
Main problem I have now is that I have lost all passion for my day job, finding it real hard to motivate myself to go to work each day, mainly over being told what to do and I work in a corporate environment for semi large firm. Only way I see out of this is to work for myself, I am the boss of me and my results. Have been wanting to do this for some time but never really got off my backside to do anything about it. So here I am looking for some advice on any pitfalls to look out for.
Initially my wife will keep working at her job as some security should this not turn out, but with an eye to join me in the business should we expand to another franchise.
Any advice on this would be much appreciated!!
FH
Looking for some advice on my future.
Will give you a background of my current financial situation then my employment career to give some sort of numbers/career that I currently have. Ultimately I am looking to set up a a franchise business in the food industry, I have my eye on a up and coming location within Auckland which should see good population growth in the coming years.
My current financial situation and assets looks like this:
PPOR: $860k (MV) $390k (mort)
IPs: x 3 - $980k (MV) 30% LVR (All 3 positive/nuetral cashflow)
IP goal is to have 10 and reduce to 5 to pay off all mortgages, live of rental income. Slowly working towards this and happy with where I am at at present.
Main problem I have now is that I have lost all passion for my day job, finding it real hard to motivate myself to go to work each day, mainly over being told what to do and I work in a corporate environment for semi large firm. Only way I see out of this is to work for myself, I am the boss of me and my results. Have been wanting to do this for some time but never really got off my backside to do anything about it. So here I am looking for some advice on any pitfalls to look out for.
Initially my wife will keep working at her job as some security should this not turn out, but with an eye to join me in the business should we expand to another franchise.
Any advice on this would be much appreciated!!
FH
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