Chapter 5
It was 2004, I was back in UK, and settled in Sidmouth with my wife and 2 daughters, now aged 9 and 12. We were often joined by my eldest and third daughter Natalie, who lived with her mother in Exeter. Natalie eventually earned a degree at Reading University and now works in London.
What I had not planned for when choosing to live in Sidmouth, was how things would develop in my property interests. I mentioned earlier that my business partner Paul had been working in Sydney. However, he had taken early retirement and was now living back in England, eventually moving back to Exeter. We had always been on the best possible terms, and had only gone our own ways for a number of years due to our changing circumstances. Paul also had a few properties to his sole name. So we 'rejoined' forces and although not at a frantic pace, we sought out any opportunities that suited our skills and budget. We acquired a large house in Exeter that was converted into several flats, in poor condition. Our strategy was to buy, renovate, then remortgage, to raise extra funds for further renovation. So our initial deposit was not huge but with raising finance as needed, we completely renovated the property, creating refurbished studios and flats, then adding a roof extension and building a new flat out into the garden, so it now has 10 flats in one substantial property. Over the subsequent years, we acquired a few others, usually properties requiring refurbishment. About this time our agents were advising us there was a strong market for 'student properties' which are effectively 3-4 bedroomed houses let to a group of students on a single tenancy. We had a number of HMOs, which are Houses in Multiple Occupation, occupied by individuals on separate tenancies, so we converted a couple of HMOs to student houses, which are simpler to manage, apart from the fact that all the remedial work needs to be carried out in the summer recess. A couple of the bigger properties kept us very busy, at times Paul and I were working full time, project managing the entire job and very often involved working manually, and my plumbing skills always proved very useful.
Paul and I had also acquired a number of garages, being small domestic size garages. Not substantially lucrative, but they rent readily, and usually do not require much maintenance. One block of garages we acquired as far back as 1989. They do not come up for sale very often, and when they do, are often overpriced from an investor's viewpoint. However, over the years we have built up a reasonable number.
Initially, when moving to Sidmouth, I thought I would not need to drive up into Exeter very often. It takes 40 minutes on average, as little as 30 minutes at 07:00 in the morning, or a full hour if arriving into Exeter around 09:00 peak time, so I avoided that whenever possible. However, there were times when I was driving to Exeter 5 days a week for weeks on end.
Although our property is fully managed by the agents, Paul and I were always only a call or email away from what was going on. We organised a lot of the maintenance works, 
and occasionally I would work alongside a carpenter refurbishing a kitchen or shower room. I usually explained that it was easier and less stressful for me to do this than worry about finding someone else to be at a job exactly when needed, plus we were usually organising the job and picking up materials etc.Furthermore, I am now past 70 (I was born in January 1951) and trying, unsuccessfully at times, to do a bit less. However, I do not want to be idle. I quite enjoy the involvement at times. As for anything new though, that is not too likely. Various taxation changes have been too drastic, and opportunities are not too easy to find. To acquire a house used for letting attracts stamp duty at an additional 3% on top of the normal stamp duty. Plus, if lending money, any tax relief on the interest will only receive relief at 20%, even though any income from the property could be taxed at 40%. How can that be fair? However, that is the rule. Further, the Government removed a 'wear and tear allowance' which puts my tax up without a penny extra income. The combined effect of these changes (many introduced by George Osborne when he was Chancellor) removes a lot of motivation to progress.
On a social front, having obtained my pilot license in 2003 in Australia, and returning to UK in 2004, my flying was very limited in the first few months, just an occasional hour in a Cessna 152 from Exeter Airport. However, my elder brother Robert also had a PPL (Private Pilot License) so later in the year 2004 we clubbed together and owned a Eurostar, as shown in the photo here. Unfortunately, in later years my brother was ill and thought he might not be able to continue flying and we sold the plane. However, with luck, my brother's health improved and he met the medical standards for a pilot licence. So in the later half of 2017, we acquired a 'Sport Cruiser', ( G-CGWH, pictured) which I have flew regularly for 3 years. Sharing the cost of insurance and hangar etc brings the cost down to reasonable levels. My brother and I eventually sold the plane in 2020. I remained current until mid-2022 when I allowed my pilot licence to lapse. I had flown for around 19 years, and logged over 1000 hours without incident.
I am also a keen skier, having first skied around 1984. Apart from a few missed years while living in Australia, I have managed to go most years, and in recent times twice a year. The photo here is at Les Arcs in the Paradiski area of France.
January 16, 2016, was my 65th birthday and Linda's and my 25th anniversary. Linda and I celebrated with a return to the Exeter Golf and Country Club, the same venue as our original wedding reception some 25 years earlier. Our next 'milestone' was 30 years of marriage in January 2021. However, we were in the Covid pandemic with no large gatherings allowed so we celebrated quietly at home. On a more sombre note, our dear Mum Marion died in 2011. Although she was over 86 it is still a sad occasion to lose a Mum. We are grateful she lived a full life right up until she had a stroke. Mum had a pleasant morning out with my sister Mandy, visiting various shops and having lunch out. It was as they arrived home Mum fell ill from a stroke that took her life a few days later in hospital. Our stepfather Bob, Mum's constant husband and partner for 45 years, died a few years later, having reach 88. If you are a friend or relative, you might like to see some family photos of Marion and Bob, simply click View Album
Another close friend to pass away was Phil, my employer and long-term friend in Australia. We had shared many interests over the years so I will miss him. We had been close friends since 1978. He had retired at around 67, and was enjoying his life. Then I received an email telling me he had visited the doctor and been diagnosed with a brain tumour. Within a couple of weeks, he had an operation to remove the tumour that left him with some communication problems. However, it was not long before cancer returned. Phil's emails became less and less understandable until he could not write at all, and telephone conversations were difficult. He passed away in 2018, not long after his 69th birthday.
Since arriving back in Sidmouth in 2004, these years have passed so quickly. My daughters are (updated in mid-2022) aged 27, 30 and 32. It seems only such a short time since they entered the world. In closing, I am trying, repeat trying, to 'wind down' and find a happy balance and do enough to keep active but not so much it prevents me doing anything else. I have worked hard to earn a bit more leisure time.
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Chapter 1 - 1951-1985
Chapter 3 - 1990-2000
Chapter 4 - 2000-2004
Chapter 5 - 2004 onwards
