Читать книгу Rise Of The Financial Ruler - Mr Paul See - Страница 26

17

Good Years, Year 2

He just jotted down in his journal:

Reuben and his wife continued to notice that property prices were continually rising. By now, they had managed to amass enough funds from friends and family to make the down payment for the hut. So Reuben went down to the simple, quaint hut by the hillside to check it out again. Everything was going according to plan, but just as they were about to close the deal, Reuben was told that the minimum price for down payment had increased and his funds was no longer sufficient as down payment.

This disappointed Reuben very much, but even though he could not close the deal then, he left feeling determined to buy down a house as soon as possible. He knew that the value of houses will continue to appreciate and the sooner he bought one, the more profit he would make from the property’s appreciation.

With this in mind, he borrowed money from more friends, and asked each of his brothers, right down to the youngest one, Benjamin.

Spending within your income is not equivalent to spending within your means