Comments on: Buy income generating assets first

By: red

red — Tue, 16 Feb 2010 22:39:26 +0000

Congratz po sa inyo! WOW!

paltan ko lng ung isang sinabi nyo, there are abundace in this world.

” Kapag maiksi ang kumot matutong pahabain ito ”

corny po pero sana na gets nyo ugn message nung sinabi q.

thanks

Red

By: Meg Yago

Meg Yago — Tue, 16 Feb 2010 17:11:37 +0000

Hi Jay, I’ve been on track of your blog.
I can so much relate to all your subjects as I am also passionate with real estate development. Initial reason though was not for financial freedom; it’s my love to subdivide a Lot into many units, maximize space for the floor plan, with still a little space left for breathing (e.g. garden), but all at an affordable/reasonable price. This vision is brought by what my family has gone through- not having our own permanent dwelling, and renting a small shabby house at a very high rate (Manila area that’s why).

Today I am glad to tell you and everyone, that I have started fulfilling this vision. Well, not as developer yet but in real estate investing. I have acquired my first unit thru PagIBIG Rent-To-Own in year 2000, property at Dasmarinas Cavite; the second unit also thru PagIBIG under the name of my husband after we got married in 2007 property at Bacoor Cavite, and the third unit (conjugal) thru In-house in 2009 property at Sta.Mesa Manila.
How I did it? The biggest contributing factor is having a very supportive husband. If both has the same goal nothing is difficult. I know I will be able to reach all these too, by myself, but it will take me decades.
My husband and I both have the same type of job, started out as call center agents(where we met). Then we both decided to try abroad, and now we are in Dubai. The Sta.Mesa Manila property still has balance but it is paying for itself as it is being rented-out at P15k/mo. The Bacoor Cavite property is already paid, and is also currently being rented-out at 4000/mo. The Dasma.Cavite property is also fully paid and is where my parents currently lives. Now we are ready again for another housing loan thru PagIBIG but we have decided to rest a while and enjoy having extra cash on hand. You see, to achieve all these we have saved as much as we can. We stick to our budget and we eliminate every unnecessary expense. So the saying goes: Kapag maiksi ang kumot, matutong bumaluktot.
I’ll keep myself updated thru your blogs- so updated, so informative. Many many thanks.

By: stevenglobal

stevenglobal — Tue, 19 Jan 2010 08:35:02 +0000

Buy assets that generate income first, sure, right. Normally should start from the small property first as it will burden you if it couldn’t be rented out.

Do research on the place, and read some article on financial literacy. An “I” quadrant is basically a WIN + LOSS game. If you unable to get the rent, how do you solve the problem? Are you out of the game. Ever heard that Rich Dad quite strict to Robert Kiyosaki?

Study well.

By: Jay Castillo

Jay Castillo — Fri, 18 Dec 2009 07:56:36 +0000

Hello, just like Red mentioned, I hope you will find your true goal in life. Whatever it is, I wish it includes being financially literate. I believe the financial burden being faced by other people can be attributed to lack of financial literacy.

I’m glad that my post has somehow made you consider buying assets first. Echoing Red’s suggestion, why not read Rich Dad Poor Dad? It can make a huge impact on your goals in life.

By: Jay Castillo

Jay Castillo — Fri, 18 Dec 2009 07:47:40 +0000

Hi Maredith, glad to know you’ve already read Rich Dad Poor Dad and TRP(you should be finished reading it by now…hehe).

You’re 29 years old?! Definitely not too late… I started when I was 36. I hope to see you here often, thanks for dropping by!

By: Jay Castillo

Jay Castillo — Fri, 18 Dec 2009 07:44:17 +0000

Hi Ronald, thanks for the excellent insights! The sooner one realizes that buying assets before doodads is a much wiser choice, the faster he/she will gain financial freedom.

I notice you are also into stocks. That’s one thing I would like to seriously explore this 2010. I attended the Rich Dad Asia seminar last November 30 and one thing I learned is I am too conservative and I should also venture into stocks. I also have a draft game plan and I intend to implement it soon. Yes, let’s all meet you at the top!

By: red

red — Fri, 18 Dec 2009 04:30:13 +0000

Kuya/ate sana malaman mo po ung totoong goal mo. Good Luck! hmm.. you can start your business while your taking master’s degree. part time lng..hehe..

PLEASE read the book Rich Dad Poor Dad. It will change your life. It change mine.

By: office furniture makati

office furniture makati — Fri, 11 Dec 2009 02:49:13 +0000

Thanks for the thought. I am now in my 4th year college and still I am on the stage of planning what to do in the future, whether I would run my own business, go for a master's degree or work abroad. Moreover, as I've seen many older people, they are really depressed because of financial burden. I don't want to be like them. I want to be rich and experience the goodness of life. I am not reading any financial IQ books, so your post strikes me that I must be wise financially. I must buy first assets before buying liabilities. Thanks again. .-= office furniture makati´s last blog ..RP's top 25 contact centers post P68.5B revenue for 2007 =-.

By: Bryan Uy

Bryan Uy — Sat, 05 Dec 2009 19:09:11 +0000

Sige, that would be a nice way to meet… Invite me when you go to a cashflow 101 game with earth. Is this the one on Saturdays or Sundays?

Text me bro if you are going to one so I can fix my schedule as well.

Thanks!
.-= Bryan Uy´s last blog ..Invest in Cash in a Flash: A P300k Package for only P750 by Mark Victor Hansen and Robert G. Allen =-.

By: Maredith Lyn Cabrias

Maredith Lyn Cabrias — Thu, 03 Dec 2009 04:02:13 +0000

Hi everyone! I’m reading Rich Dad Poor Dad and it tickled my interest in learning real estate investments. Yesterday I bought Think Rich Pinoy by Larry Gamboa because it’s for the Philippine setting. I stumbled upon this website to know more about investing in real estate (a beginner at age 29!)…not too late right?

Hope to learn from this website more and more. Thank you!