Aug 3 2008, 10:06 AM
Added on August 3, 2008, 10:08 am
QUOTE(wcwroger @ Jul 19 2007, 12:23 AM)
My story:
Year 2005 (Salary: RM2500)
Year 2006 (Salary: RM2800)
Year 2007 (Salary: RM3000) work out the installment of only RM1000++/month/person. Ok wat...
Year 2009 (Salary: rise rise rise)
Cheers
Roger
wcwroger@yahoo.com
what if you lose your job if there is economic slowdown? Can really expect the salary rise rise rise (unless you are a govt servant?)Year 2005 (Salary: RM2500)
Year 2006 (Salary: RM2800)
Year 2007 (Salary: RM3000) work out the installment of only RM1000++/month/person. Ok wat...
Year 2009 (Salary: rise rise rise)
Cheers
Roger
wcwroger@yahoo.com
QUOTE(shadowz @ Aug 3 2008, 03:39 AM)
wow... very daring indeed!
Lets not jump on his throat la... maybe he has enough cash reserve to see him through rocky periods?
Personally, I wouldn't have acquired that many properties in such a short span of time but to each their own.
There seems to be alot of speculation and uncertainty in your plan but so long as you have a secure backout plan then *shrugs* (Able to quickly sell off one or two properties in case of unforseen circumstances-hopefully at a nice profit) I am guessing you won't balk at the course you are taking now since you seem very confident.
I think one property acquired every 2-4 years is good if one can afford it and has carefully planned their lifeplan with consideration for worst case scenario (life is not a script which will follow our will as we wish after all). Then by the time they are close to retirement 3-5 properties which may ensure shelter and passive income. Again, each person's situation is vastly different and variables are aplenty so don't take it for granted that one can cash out easily or collect passive income at all times...
If you are able to profit from your endeavour then I applaud you but do be prepared for the worst... Optimism will only get you so far...
Personally i dont really agree with a fella who own few properties and thinks that he is earning big bucks alreadyLets not jump on his throat la... maybe he has enough cash reserve to see him through rocky periods?
Personally, I wouldn't have acquired that many properties in such a short span of time but to each their own.
There seems to be alot of speculation and uncertainty in your plan but so long as you have a secure backout plan then *shrugs* (Able to quickly sell off one or two properties in case of unforseen circumstances-hopefully at a nice profit) I am guessing you won't balk at the course you are taking now since you seem very confident.
I think one property acquired every 2-4 years is good if one can afford it and has carefully planned their lifeplan with consideration for worst case scenario (life is not a script which will follow our will as we wish after all). Then by the time they are close to retirement 3-5 properties which may ensure shelter and passive income. Again, each person's situation is vastly different and variables are aplenty so don't take it for granted that one can cash out easily or collect passive income at all times...
If you are able to profit from your endeavour then I applaud you but do be prepared for the worst... Optimism will only get you so far...
You must be able to sell it at a reasonable price then only it is considered a good investment. If you just rent it out with a few tenants, i just wondering whether you can maintain with a tiny salary of RM3000-4000 with the possible increase in BLR (unless you get govt loan) and inflation.
Properties a type of investment, in some extent, is like share market. If the price drop tremendously, the bank can request you to pay a certain amount of money to them and you can suck big time.
This post has been edited by muscaa: Aug 3 2008, 10:10 AM
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