I would like to draw upon the wisdom of the forum once again. I have this plan. Im thinking I'll take a personal loan from the bank and use it as a downpayment on an offplan chunk of property. Make a couple payments, and flip it after 2 months or so. Its risky, if I cant sell, I'll get stuck with the payments and I'll be on a rice only diet for a while. If it works though I'll have some money to play with, I can get the ball rolling, finally be able to make a down payment on a finished property and stop renting. If it were your money, where would you buy? what would you buy? Why would (or wouldn't) you buy? You may have seen a few of my other hypotheticals on the forum. It really sucks seeing everyone playing ball and not having the means to get a peice of the action.
I remember your case, you have been trying to invest for sometime now.
Hunger is the key to success. Chances are to be taken in life. If it works, you are done for life and that gives you the motivation to go one step further. However if the flipping part does not work, then be prepared for the consequences.
Flipping is difficult at the moment. A lot of interest is generated with Emaar & Nakheel projects. Try buying directly or with small premium.
Buy where the Rich like to stay. The Rich do not mind paying premiums to buy something that they want.
Find like minded investors and divide the risk instead of taking it wholly on yourself.
I am reading the book " screw it, let's do it" by Richard Branson and he followed his dreams and took chances which could have put him out of business. The rest is history.
Good luck.
Regards
Roshan
Now for some "Food for thought" . Some nice sayings to help you.
Accept responsibility for your life. Know that it is you who will get you where you want to go,
no one else ( Les Brown )
You are the only problem you will ever have and you are the only solution ( Bob Proctor )
There are two primary choices in life. To accept conditions as they exist, or accept the responsibility for changing them ( Denis Waitley )
Fear is only as deep as the mind allows ( Japanese Proverb )
Only those who dare to fail greatly can ever achieve greatly ( Robert F. Kennedy )
You can't have a better tomorrow if you are thinking about yesterday all the time ( Charles F. Kettering )
A strong positive mental attitude will create more miracles than any wonder drug ( Patricia Neal )
The will must be stronger than the skill ( Muhammad Ali )
People often say that motivation doesn't last. Well, neither does bathing-that's why we recommend it daily (Zig Ziglar )
