Oct 21, 2011

Investment and Loans

Remember the condominium I always talk about here? The one that we started paying more than 2 years ago, and waited till it was turned over? It's finally turned over, my mother in law is our SPA representative and she's the one taking care of all the thing needed. After paying the two years down payment via in-house, we have the 80% balance loaned thru bank and we are going to pay it for 15 years.
Bank loan process for mortgage is not that easy, it takes time to process and get approved. We're lucky we are approved for 15 years.  Now, our condominium is for rent and still waiting for the future tenant. Hoping to  have it rented soon coz we don't have plan on finishing it till 15th year. If this unit is already earning, we can pay our monthly mortgage in advance so we could finish the loan earlier than expected. We are not sure what to do with the unit yet, last time, we planned to sell it but we didn't. We were also planning just to have it rented so the kids can use it in the future.
Investing a property is one of the best thing to do instead of just keeping your money in bank or just spending it with nonsense things. So better start investing now!

No comments:

My Birthday!

Our Wedding Anniversary