I'm back.
Obviously, it has been quite awhile since I've posted. the long and short of it is that I bit off more than I could chew. It did not take me long to realize I was in no financial shape to do what I wanted to do.
I owed a lot of money in back taxes and credit cards and I had no money aside from the money my parents lent me. the 40k disappeared quicker than i thought possible. and all I was left with was my wage. I asked the architect at one point how much it would cost just to cover him, and he said 20k. not to mention all the other trades needed to get permits and drawings. I was lucky to pull in 4500 a month before taxes.
I realized that working on Vancouver Island wouldn't allow me to pay down my debt, pay the mortgage and save up to build. Without much thought, I decided that I would go to Vancouver, where the pay was quite a bit higher. I couldnt afford rent there, so the easiest solutions was to sleep in the back of my blazer.
that started in 2016, and I'm still doing it. though this period of my life is, thankfully, coming to a close.
I was flat broke for a long, long time. everything i earned went to paying taxes that went back years. I didn't keep track, but all in all i think i paid close to 80k in taxes, and probably 20 to 30k in credit cards.
A lot of things happened while I lived in the back of vehicle that stalled my progress.
For the first couple years, I would go back to the house once or twice a month for the weekend. People told me I should rent it out, and, maybe I should have, but it was nice to have somewhere.... stable. van living isnt easy and a refuge was nice.
After my immediate and pressing debt was paid, I started to save my money in silver bullion. I found that if there was cash in an account, it would get spent, but by buying silver, it was harder for me to spend, and frankly, stacking ounces is addictive.
I had a proper safe at the house. incredibly heavy. I'm 6'5", 275lbs, and I cannot lift it. anyway, its where I kept my silver and other sentimental objects.
I can back one weekend and my house had been broken into during the week and everything had been stolen. including the safe. 620ozs was stolen. at the time it was valued at approx. 14-15k. everything I had saved. I was gutted. every sentimental object I had in that hose was gone or destroyed. I was sad.
I had asked my neighbor to keep an eye on the house, but that didn't work out, I guess.
I've gone through 4 different vans over the years.
my younger brother, Mathew, died in 2020.
Despite all the setbacks, self doubts, and depression, I did not quit. After paying off all my debt, I was left with about 800 of silver. about 25k.
The 5yr term for my mortgage came up last year and I decided to refinance. My debt on the property was about 155k and the house appraised for a ridiculous 450k. It likely would have appraised for higher, but the roof was leaking and needs immediate replacement, the ceiling in the living room has collapsed. its a mess.
anyway, I was able to refinance and I pulled 90k out. this might have been a mistake, as my mortgage payments went from 890 to 2325. I am okay with the crazy increase, because I no longer have any debt and I've increased my income to roughly 8k a month. With that 90k I bought 40oz of gold.
At the same time I refinanced, I got back in contact with the architect I was using before and re-engaged his services. He was busy and wasn't able to restart until this last march.
we have approached the city of Nanaimo to start the process with them and my architect has sent me a list of tender for the various engineers.
I have restarted and it is moving forward
