Aussie Firebug

Financial Independence Retire Early

Late update this one.

Even though I’m only working part-time, it was a pretty busy April/start of May.

Two major updates:

  1. We sold IP3 🎉
  2. We have gone unconditional on another PPOR (the first house we got accepted on fell through due to a bad B&P report)

I’ll make another post that dives into the numbers from the sale of IP3 similar to the one I did for IP1 which you can read about here.

The market conditions were just too good to pass up and we received two offers that were in the range we were happy with so after a bit of back and forth, we accepted an offer and had a smooth sale process.

It turned out to be an investor too which was surprising. The agent we used to sell the house had told me that 90% of the sales were going to first home buyers and not investors. This worked out perfectly for our long time tenant who was very worried about finding a new place because apparently, new leases are hard to come by.

It’s just crazy what Covid has done to the real estate market.

This is why we were even more stoked to finally go unconditional on a PPOR after a successful B&P. Yeah, we paid more than we would have liked to but that’s just the way the game is being played at the moment.

We ended up paying $515K for a 4 bedroom house that’s 10 years old in the area we wanted. We realistically could be in this house for 15+ years. I reckon this place would have sold for around $420K fourteen months ago but oh well.

I know there’s a lot of people sitting on the sidelines waiting for a crash to happen and you know what, they have very good reason to believe that one might be just around the corner. I mean, investing fundamentals are cactus right now and nothing seems to make sense.

All I’ll say is that you need to make the right decision for yourself and nobody else. Sometimes it’s not about money either. Paying so much for a PPOR was definitely not the best financial move for us. Renting a smaller place would have been a lot better money-wise. But we’re getting married in a few weeks and hopefully having kids in the coming years. I love the fact that we’re in such a strong financial position to be able to get the house we wanted without any financial pressure whatsoever.

To me, that’s why we invest and care for our wealth in the first place. Not to make the most money but to live a happy life.

I honestly can’t wait to move in and finally, finally set up a home just the way I want without any restrictions. We’ve always rented/lived at home so this will be the first time in both our lives where we can bring Mrs. FB cats into our house, decorate and design our living space, hang some pictures of our travels on the wall etc. It’s very liberating and I’m definitely going to show off the home office/battle station once I’ve fully set it all up 😁

Net Worth Update

The share market did all the heavy lifting in April and we managed to crack the $900K mark, woohoo!

One loose end we finally managed to clear up was sorting out the rest of our money in the UK and closing all of our accounts. Our bank accounts have been a mess since we’ve moved back to Australia and a huge priority this year for me was to streamline our investments/bank accounts.

Selling IP3 was a big improvement and now we only have IP2 left to offload which I plan to do at the end of the year.

We’ve also changed our personal banking to UP which unfortunately isn’t a supported bank with Pocketbook (the software we use to track our expenses). Add the new accounts I’ve had to set up for my new business and things have been getting unwieldy very quickly. We basically haven’t been tracking our expenses very well for the last couple of months and it’s crazy how many things slip through the cracks when you’re not on top of it.

On a positive note, my new consulting cheques should start coming in next month so I’m really keen to get back on track with investing and not just building our house deposit.



Most of the property updates have been covered above. I’ll be adding the in-depth article from the sale of IP3 in future updates.

Property 1 was sold in August 2018

Property 3 was sold in April 2021

The current value of our properties is a rough guesstimation based on similar surrounding properties. I only really update these when we get an official bank valuation


The above graph is created by Sharesight

We didn’t buy or sell any shares in April as we were continuing to build our house deposit. However, now that we are unconditional, I’m really looking forward to getting back into the swing of things with our share portfolio. I’ve got some big plans with how we’re going to debt recycle the PPOR and I really can’t wait to settle on the property and get cracking.




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