Graduates - do not buy your first property for own stay!

Dear new graduates / new employees..

Traditional mindset in Malaysia is to buy your first property for own stay!
NEVER ever make that stupid mistake!
Go and attend property seminars, that should be your first investment once you earn your income.
Then you will know your first, second, third property should be for investment.
Then only buy property for own stay.

Why?
Because if your first property is for own stay, it becomes a liability, not an asset.
Don't make the same mistake I did.
Coming back from Australia, parents say want to buy house for me, take joint loan with mum for family home worth RM400k.Monthly repayment [once a fortnight = RM1,700]
That time my salary is only RM1,800.
Although mum set aside money to pay the loan, in the banks eyes, I can no longer take new loan coz i hv exceeded the threshold.

By the time I shoft job to my last hated company, then transfer the full loan to company loan. and that time salary RM4k. Loan is now no longer in CCRIS system, but still appear in paycheck, showing loan deduction of RM2026 being more than 50% of take home pay. So no chance to invest again, til salary grow bigger..which by that time I was already dying to leave the hated company so much.

SO lesson learnt..
buy your first property, best to markup the S&P so you get 100%, then rent it out for positive cash flow.
 then it will not affect your ability to take next loan for another investment property.
then buy second property, again if possible markup the S&P price, so you can get 100% loan again, then rent out for positive cash flow.
then, only consider buy property for investment. And don't be stupid to buy 1 bedroom apartment for yourself. Get a 3 or 4 bedroom house, rent out the rooms..and stay in 1 for yourself.
You become boss!
So you basically get to stay at the house for almost free.
If I live alone..this is what I would do. I would have added more rooms downstairs..so can rent out 3 or 4 rooms in the house.
Unfortunately I'm stuck with parents..so no freedom to do that.

2009 is almost halfway gone!

Gosh..I just realised that its almost halfway through 2009.

This year started in good spirits..I tried to maintained positive spirits and thoughts.

Signed up for a coaching group during smart seminar 2008.
Also formed another mastermind group from friends I met at SMART seminar
(see pics from SMART Seminar 2008 at my other blog here )

Products for both groups have yet to be launched though its already 5 months we worked on it.
I guess now I know developing own product is really a tedious job.
I think I will go back to profit blogging more now. Its so much faster and easier.

I am starting a new project now, which will be on in July. [will post more about it later on]

apologies for not updating this blog more often.
havent had the mood to write much.

My schedule is maxed out now.
Not gonna have any weekend rests for the next 3-4 weeks.
So many seminars / expos happening lately.
Looking forward to attending the Millionaire Mind Intensive weekend in June.

I want more money experiment - Day 4

Day Four:
$800:
- I need a holiday. At least a short 3d2n break. MAS & AirAsia having cheap flights to Langkawi. Would love to go there again just to chill, do some shopping at the duty free outlets and revell in the cheap and tasty food there.

I am grateful for:
- having the passion of travelling in me, and being brought on for holidays with my family and relatives since young. I can't imagine my mindset if I'm not exposed to travel and other countries culture..probably will be like the typical racist frog under the stone kind of people.

Show me the money:
- Put in practice the things i learn from the Super Affiliate Blogger and get some affiliate sales to gain the money for my holiday.

Reference / guidebook:
The Super Affiliate Blogger handbook

I want more money experiment - Day 2

Supposed to update this earlier, but was busy attending a blogging workshop.

anyway, here goes

Day Two:
$200:
- I need new suit for work and other functions.

I am grateful for:
- For being able to attend the blogging bootcamp this weekend

Show me the money:
- Sell the stuff I bought from my holidays in Bali and Bangkok past years which are still in the suitcase, on eBay Malaysia to earn the $200.

How to sell on ebay & get the best value for my items?
- I shall refer to the guide Ebay Masters

Don’t be conned with your credit card rebates scheme!

I called Citibank today to enquire about the free RM50 voucher I was supposed to get when I signed up for Citibank Air-Asia & Citibank Shell cards few month ago.
Their offer was FREE RM50 shell fuel & double rebates up to 10% rebate on shell fuels if signed up during the promo period.
So I enquired more on the rebate rates.
Apparently the rebate rate is only 2.5%...and to get 5% rebate, you need to have carry forward balance above RM4,000.
Then I enquired what is carry forward balance…Apparently this is the amount outstanding not yet paid.
Imagine how shocked I was! For someone who always settles her credit cards bills on time and call to request for waiver of any fees / charges even if its 24 cents, hearing this was atrocious!

Basically the bank policy is for you to be entitled for higher rebates, you should have credit card debts and not settle it!
What the F%$#K!!
This is horrible policy…and I bet many stupid Malaysians just fall for it…Gosh!!