Let buy a house. No..No..No..Please Don't. Why?
Please...please....please...buy as much as you can. How?
Before that let recall my earlier entry on pre planning - buy a house.
Who am I to discuss about buying houses? I'm a nobody with one house. Rented out.
My parent stay in their own house, build on their own piece of land. With another 2 smaller house beside it rented out. Oh, before I forgot, the house where I was grown up, also been rented out.
That why I urge you to buy more than 1 house.
I'm looking forward for another house, maybe after my wedding. Not for us to stay in but for us to rent it out.
When I buy my house, I didn't think of renting it out. For me, it was a waste to rent it out. There a probable of tenant moved out during the night, not paying rent, leaving the landlord with huge utilities bill and etc. That was me way before. What i believe now, buying houses as my retirement investment.
Most of my friend has purchase a house. Some of them haven't. Anybody reading this and not yet buy a house, please consider to buy now. Refer to my earlier entry for pre planning - buy a house.
Some of my friend already buy/own house, might regret their choice of house due to high monthly installment that it tighten their monthly financial or won't moved in (due to some reason) or for any other difficulties. If they ask for my opinion, I will say "don't regret". Following is what I will do if I regret buying any form of investment, as here i will put it as house:
1) Rent it, to get some cash flow either to ease out financial burden or save to buy another house (Don't forget to get a rental agreement to get better financial credit review from bank which I might touch in a later entry)
2) Refinance it, if investment properties - use any excess from refinancing to buy another house for rental purpose, if own house - to shorten the period of financing.
3) Sell it after a few years, to get a better investment properties or get more investment properties.
What I learn from Dr. Shah Razali known as DSR, we should not buy our own house first. Buy house to be rented out first. That is if you want to be an Investor and there a possibility that our own house will be paid by the others houses we rented out. Well maybe not in the short term, maybe after we have really understand the mechanism of investing in real property.
Well, you can hear more from DSR from his youtube or his book which is up for sale, Jejak Pelabur Hartanah. (The book already out of stock and in process of 2nd batch printing: Source DSR Facebook) His website is drshahrazali.