The last few weeks have been very hectic for me, we have been busy meeting with different professional team players for our JV syndicate, it has not been a straight forward structure and we had to sit down for hours at the accountant’s office to pay him for his time to assist us pick the right structure for our situation. As much as I would like to reveal what the structure is, it actually depends on the people forming the JV so what works for our group may not fit anyone else’s group as the circumstances are different. This meeting cost us close to $1000 just to try and understand different structures, etc.
One thing I have realised about JVs, is that having more people in the group, makes the decision making process longer as all the partners need to be on the same page as you and if there is a disagreement, time is spent trying to get a representative to help sort the issue out, fortunately we haven’t reached any major disagreements but it does take time before you can move on anything.
The good thing though is the risk is spread amongst the partners, especially for bigger projects.
Regarding my role as mum
Unfortunately I suffered a back injury and was unable to take my little girl for her usual playgroup on Mon and Fri, so that was rather disappointing as I love spending those few hours with her. Still recovering from this as we speak. It was so bad that the ambulance had to be called in to assist me, as my husband wasn’t able to get me up, I was in excruciating pain, I decided though not to go to hospital as I hate waiting for hours, I was actually prepared to carry my Cherie Barber’s DVDs to the hospital just to make sure I didn’t lose any time waiting for a doctor to come and see me
My role as a daughter and Multitasking
My father suffered a stroke back in Nov 2009, he lives in Kenya with my mum and younger sister. I have spent a great deal of time trying to source for a physiotherapist for him as I promised him that I would definitely look after him until he is able to be independent again, which I am hoping it will be soon. Dad is close to 80, and am also planning to visit him this Nov, though we will also be at the start of our project, so it will be interesting to see how this goes. I have done multi-tasking before where I was in the middle of buying 2 properties simultaneously, preparing for my daughter’s first birthday party at home and doing all the packing myself as we were also moving house, I am proud to say, that I managed to handle all the tasks successfully.
Do you have more than $120k in your super fund? You could use your super to buy property - Find out how
Kenyan-born Anna Correia and her growing family have lived all over the world, but sought out Australia looking for opportunity and sun. Since arriving in 2006, they have built a $1.6m portfolio and Anna is building a network of like-minded investors through a group she founded on facebook. She and her virtual ‘friends’ are looking to make real money through their first joint venture. You can learn more about her family, and their adventures in property, in this story featured in YIP magazine.
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