How to accumulate wealth to lve a comfortable life

[elnewbie]

You see, you've answered your own question. You can easily extract $1m of equity even in today's depressed market.

Investing $1m at 9% compounded returns....

5 million if selling everything except primary residence however will only be left with 2 million because i still have a hefty loan to pay down on primary residence

 

[highsulphur]

5 million if selling everything except primary residence however will only be left with 2 million because i still have a hefty loan to pay down on primary residence

wow...you really leverage gao gao

no wonder you are stress. no offence but I rather not be in your shoes as I'm of similar age with 3 kids

 

[limster]

5 million if selling everything except primary residence however will only be left with 2 million because i still have a hefty loan to pay down on primary residence

Wow, your total housing loan is 3 million? Or is the 3m loan just for your primary residence?

 

[highsulphur]

Wow, your total housing loan is 3 million? Or is the 3m loan just for your primary residence?

only for primary I think

 

[highsulphur]

must be expensive maintaining that primary residence. definitely siong for single income

 

[Nofear40]

only for primary I think

5m is the net amount (proceeds - loan repayment) for all the investment properties? Or $5m is the total proceeds and $3m is the total loan amount which your residential property makes up the big chunk of loan?

 

[useless]

I think should stop wasting time with this troll.
People already gave him advice on how to solve his situation but he still continue to whine in self pity.

Its like giving a drowning man a float but the man says the float is not to his liking.

Learn to cut losses, 2mil is enough to start a business or new investment rather than sulk here and dream of owning many fancy cars, which you say you can in Thailand. So why not move there?

 

[shareholder]

2 m net worth is above average for a guy in 40s. Spend more time networking with investors and reading annual reports. Can easily double or triple the amt in a few years. Your dream life is not far away, huat ah.

 

[arigatoast]

I think should stop wasting time with this troll.
People already gave him advice on how to solve his situation but he still continue to whine in self pity.

Its like giving a drowning man a float but the man says the float is not to his liking.

Learn to cut losses, 2mil is enough to start a business or new investment rather than sulk here and dream of owning many fancy cars, which you say you can in Thailand. So why not move there?

and its like saving someone from a desert by offering mineral water.. but this guy demanded for ice lemonade with small umbrella. LOL

 

[cybercom8]

5 million if selling everything except primary residence however will only be left with 2 million because i still have a hefty loan to pay down on primary residence

wow, you really leverage so much, luckily the banks did not come after you.

my friend has only 2 properties and yet if he sells everything except primary residence, he has ~$5m left ...better to be more conservative in today's market

 

[highsulphur]

wow, you really leverage so much, luckily the banks did not come after you.

my friend has only 2 properties and yet if he sells everything except primary residence, he has ~$5m left ...better to be more conservative in today's market

sounds like my friend.
same friend? or it's you?

 

[wira]

5 million if selling everything except primary residence however will only be left with 2 million because i still have a hefty loan to pay down on primary residence

Wow. Net worth of $2m is very very enviable esp since you are only in your 40s.
I dunno what's the issue here.

 

[highsulphur]

Wow. Net worth of $2m is very very enviable esp since you are only in your 40s.
I dunno what's the issue here.

only one since have family with good wife

that's greed

 

[newjungle]

Many has given their great advice, but for such a critical matter, shouldn't you speak with your wife? If you don't want her to worry, then speak with your siblings on their view. They know your situation and i think they will give you the best suggestions.
Properties (residential and commercial) are good asset class only if you have holding power. People in their 40s have seen the asian currency crisis, and i think we are all wiser after this experience.

 

[svm22m]

Wow, your total housing loan is 3 million? Or is the 3m loan just for your primary residence?

3m total current residence still left 1.3 mil

 

[henrylbh]

wow...you really leverage gao gao

no wonder you are stress. no offence but I rather not be in your shoes as I'm of similar age with 3 kids

What stress? Assets more than liabilities by 2m as far as his other properties concerned. He is either trolling or trying to find ways to do better than present or telling he has more than most here.

 

[svm22m]

5m is the net amount (proceeds - loan repayment) for all the investment properties? Or $5m is the total proceeds and $3m is the total loan amount which your residential property makes up the big chunk of loan?

Current residence valued at least 2.9 million
Loan left 1.3 million
All the other investment properties if sold now(exclu primary) will be 5m

 

[svm22m]

I think should stop wasting time with this troll.
People already gave him advice on how to solve his situation but he still continue to whine in self pity.

Its like giving a drowning man a float but the man says the float is not to his liking.

Learn to cut losses, 2mil is enough to start a business or new investment rather than sulk here and dream of owning many fancy cars, which you say you can in Thailand. So why not move there?

If you read throughly i already said my youngest child is only 6... highly likely will move there next time just that im willingly to sell in next few years as current market is bad

 

[svm22m]

Many has given their great advice, but for such a critical matter, shouldn't you speak with your wife? If you don't want her to worry, then speak with your siblings on their view. They know your situation and i think they will give you the best suggestions.
Properties (residential and commercial) are good asset class only if you have holding power. People in their 40s have seen the asian currency crisis, and i think we are all wiser after this experience.

To be honest my wife knows the situation very well there were times we ran into difficulty paying premiums and loans but when i suggested selling 1 of the properties she diam diam

 

[stjoe1]

If you read throughly i already said my youngest child is only 6... highly likely will move there next time just that im willingly to sell in next few years as current market is bad

You don't need to sell all of your properties.. Just pick one that is breakeven or lost the least to help with cashflow for time being..

Just like having stocks, we don't need to liquidate all, can choose and pick..

You are actually quite okay since have many properties, can choose which one to liquidate.. Imagine if someone with only 1 property having the cashflow situation, got no choice to choose which property to sell