This post marks our decision to end an era. It is by no means the end of the story being told in this blog, but rather a leap forward in time to the present day. This story started on this blog of our journey as EzyDVD franchisees with court notices from a DVD wholesaler who wanted their money. The good news is that we managed to get the bank guarantees released and hence could pay the supplier. In fact the supplier even let us out of the additional charges that they were intending to levy on us.

In the mean time however time and expenses have marched on. Since we left our businesses and sold our investment property, we still have loans in the order of $600K. Interest payments on these loans are about $5,100.00 per month. This is over $61,000 per annum that we have to find, after tax, before we can even buy food.

Over the last 11 months we have managed to make every mortgage payment on time and in full and still have some sort of life, but we are now just about out of options, with our teenage children lending us money to make July’s payments.

Our last major our asset, our house, is worth about $300K or so and we have come to the decision that we MUST sell it. Even after that we will still have debt over $300K. So at the age of 42 I will be $300K worse off than when I left school. The loans we have left are to my parents and to my in-laws, approximately $150k each.

My father is 80 and my mother in her late 70’s and they are in no position to pay anything towards the mortgage on their house that funded the money they lent us. My in-laws while somewhat younger, again are unable to fund the mortgage payments on their home for the money they lent us. So if my wife and I fail to make their payments they are at risk of losing their homes, and all for the fact that they believed in us.

So I think you can understand our need to keep making payments for our respective parents mortgages and hence the need to sell our home.

Still, I have my family and my health. I know there are many people worse off than me.

At times like this I look towards people who inspire me such as Robert Kiyosaki who spend some time living in his car. He is now the best selling author of the Rich Dad Poor Dad series of books and a self made millionaire. You see I am much better off than he was.

On the whole the family are all dealing with this very well. It is fortunate that I get on very well with both my in-laws, as we will soon be moving in with them. It will be a bit of a squeeze, with 4 adults and two teenagers in a 13 square (122sqm), three bedroom house. Luckily, there is a caravan there so my teenage son, Morgan, will use that as his bed room.

The tricky bit in this compaction is what to do with two households worth of stuff. I guess that ebay will start to see some of our stuff. If you see our stuff listed in our ebay store, go ahead and bid high!

On a positive note, my Electrical Contracting business that I run with my father in-law has been very busy over the last month, and my wife has developed a course to train people in internet marketing.

What will the future hold, I am not really sure, but I know that, along with my family, I will get past this dark period of my life. I even know that at some stage I will buy another home. But for now it looks like the joy of living with the extended family. Oh Boy, Oh Boy, Oh Boy!

I hope you are enjoying my journey, and I will try to get more of the franchise story out in short order. In the meantime if your are enjoying the tale, and you want to help me pay my ISP, feel free make a donation at the top right of this page

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