Buying a house

I was reading this book titled ' Start Late, Finish Rich' by Davis Bach. It is actually stuff I already know but never took a step further to understand. I want to retire by 40 with 5 houses and a car. That will be 9 years away. Can I do it?

Own your home

We do but it is public housing. It is a safe bet as it is fully paid for with a sweetener(grant) thrown in. If we were to sell it in 5 years time (2 years away), we will make a profit. So should we sell or rent it out when the time comes. We could rent it out for 2 years and earn passive income. Eg $700 x 24mths = $16800 or just roll over the money to a bigger apartment. But the question is public or private housing?

If we rent a private condo for a year at $1500, it will set us back $18000. We can use that money to place a downpayment for a condo (5% of sale price)and try to rent it out but with full knowledge that we must have enough money to cover interest in times of no rent.

If that is the case, we must set aside $20k for downpayment of flat $400k. And another $50k for loan repayment. But getting a loan for that amount will mean in the first 5 years, interest will be on par with loan repayment. An obsene amount to pay the bank.

So we need to have at least $220k in the bank before we buy. So the target is 200k by 1/8/2007. We calculate whether we should hold on to the old place by collecting rent or selling it and clearing the bank loan further.

Women make the best salesmen

I am currently reading this book called 'Women make the best salesmen' by Marion Luna Brem. She is one of the top car salesperson in a profession usually dominated by men. I find this book very insightful as it offers me a women's point of view of sales written by a woman who has found success.

These are the 3 things that I can apply to improve myself

a. Dress the part

Remember and practice the "Three C's" of dressing comfortably, compatibly, and confidently, your customers will respectfully pay attention to your message.

1. Comfortably - I will not distract myself/client in any way.
2. Compatibly - I will dress with my client and product in mind.
3. Confidently - I will feel in control.


b. Set the stage

1. Prepare your 'show' area as you would expect a special guests.
2. Good organization impresses and wins people over.
3. Have the tools of your trade at your fingertips.


c. Good first impression

1. Follow up with prospects and customers and make the impression lasts.
2. Listen to your heart, it doesn't lie to you. Others will see the honesty in your deeds.
3. Be emotionally engage with your customers. It takes courage but it builds trust.