WRONG INVESTMENT CAN REALLY KILL
I got this last nite, and someone translated for me. If you don't understand it, in summary, this poor boy was convinced by a friend to invest into what he thought was a good property deal.
He's friend promised him a great deal. He didn't need a big downpayment for the deal and better than that, he told his friend that he could get extra money coming from the property, aka a CASHOUT of RM100,000 or more.
So, convinced it was a good deal, he invested into the property without understand what it was.
He didn't understand the price would be inflated.
He didn't understand that the loan he took, he had to pay back the instalments.
He didn't understand that the money he got wasn't enough to cover the loans he took.
He bought the property at RM1.25Mil, but actually only paid RM1.0Mil for it.
Therefore, he could take out RM100,000 plus.
But he had to pay an instalment of RM6 - 7k per month, and the rentals could not cover.
It was a NEGATIVE GEARING property. He paid for 2 years until all his initial cashout was finished.
So, when the money ran out, and he could not afford to pay anymore, he took his life.
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I didn't sleep much last nite. It has been something I have been trying to tell alot of people until today. You really need to be careful what you invest in these days.
CASHOUT & COMPRESSION Kills.
NEGATIVE GEARING is like cancer.. eventually you can die from it too.
But lastly, ignorance and greed kills too. I am sadden to hear his case.
I really hope that more people who are reading this, who are planning to do the same, take heed from this lessons. STOP going after the short term gains. Patience and balance is needed in any investment game.
More importantly, to THOSE that are PROMOTING this, STOP. The money you make from the commissions, and the tickets you sell, are not worth the human lives you sacrifice. There are better ways of making a living.
uuu/bbb have blood on their hands.