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 Retire with passive income

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ManutdGiggs
post Aug 9 2012, 10:17 PM

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QUOTE(jucl @ Aug 9 2012, 10:13 PM)
Wah everybody so rich here. 10k active salary also diFficult  let alone 10k passive income...
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10k passive income is not a diff task. One must hav discipline to achieve it. It may take u many yrs of discipline to finally get there.
ManutdGiggs
post Aug 10 2012, 12:04 AM

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QUOTE(kentchow75 @ Aug 10 2012, 12:02 AM)
Oh really? That could be an awesome shoplot inside KLCC.

Provided he did paid all the loans acquiring the shop and the rental is purely positive cashflow
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Dun b surprise to learn tat full house restaurant is paying 48k for Giza shop. If I'm not mistaken. And it's onli 1 unit.
ManutdGiggs
post Aug 10 2012, 10:25 PM

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QUOTE(jootat @ Aug 10 2012, 02:05 PM)
Bro, mind to give some tips? smile.gif will definitely appreciate that.

Btw, noob question. Passive income means the income from rental provided the loan already fully settled? Am i right? Passive income doesn't mean u r renting the house to someone else but at the same time we still need to serve the monthly installment? Sry, i am the very newbie here.
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Hmm not qualified to giv tips la. But s I know s long s u hav 50% of cash in fd over the loans u owe the banks, then it's achievable. Provided the prop value is more than 5mil at purchase price with min 8% roi on purchase price.

By looking at the above, it's more than 10k after deducting loan interest. And remember rental ll increase overtime. Maybe one day after clearing the loan, when u need some more $$$, u can refinance those props again, and keep some more cash in fd and start the process again. It's might b 20yrs later. Who know maybe rental ll able to b at 8% over the refinance amount.

Sori, I tok onli. Pls dun follow wat I suggested. It might not make sense to many ppl.
ManutdGiggs
post Aug 10 2012, 10:54 PM

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QUOTE(kochin @ Aug 10 2012, 10:46 PM)
what you saying makes perfect sense to me and in a way am practising what you have been preaching. just hope i can see it through.


Added on August 10, 2012, 10:49 pm

actually ask yourself what woould you do if you are fully retire. for the life of me, i have no idea at all actually.

i reckon my typical day would be:
wake up, breakfast.
spend like 2 hours for newspaper daily.
then maybe checking mails and talk cock in forums?
then lunch or do some errands. maybe fetching grandkids?
then napping time?
then dinner liao or yum char with friends?
kekeke.
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Oh boss u oso doin tis? Not bad. Next time can share share idea k. Tq tq. thumbup.gif

 

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