19: How I achieved my first investment property.

TRANSCRIPT FOR EP19:
Welcome to Woman Leadership show. I'm Janet and in this episode, I will be sharing with you on how did I achieve my first investment property. 

After few years of savings and with enough money in the Central Provident Fund Ordinary Account, I finally was able to buy my first investment property before the additional stamp duty kicks in. 

I do have some objections in buying a 1 bedroom studio as there maybe oversupply of Mickey mouse apartments and may not have good rental yield. For me, I took it as a form of savings so I will not be spending unnecessarily and the money is locked in servicing the monthly installment so is like a forced savings for me.I researched few new properties and visited showflats. One of the project that got my interest was a condominium which is opposite of the potential shopping mall and train station.I considered the prime location and and near to potential facilities and amenities in few years time. 

The rental yield may not be as great but good enough to service the installment and considering the low interest bank loan. I would like to consider a 2 bedder but I did not have enough for the deposit so I started with one bedder.  This was a great start for me to have a stream of first passive income coming. Start with the habit of savings even with small amount. I started with the salary of 2, 000 per month and by investing in myself with the development programs and coaching programs, I earn 10x the amount when I became a senior leader in a corporate position.   I started saving when I started with $2,000 salary and work towards earning more, save more and manage my expenses so I start to build enough funds to invest when the opportunity came. 

There are many ways to have passive income but this is close to my heart after exploring few options after attended many different types of programs and teaching us the ways to make our money grow. I hear from experts in different ways of investing to grow my money and I made my own decision in consultation with my hubby. He was not for the idea about mickey mouse apartment but he thought that since is good location so not too bad in view of my limited pool of fund to purchase a bigger unit. Be always prepared whether to get ready our war chest so when there are opportunities, we can invest and made a decision without regret that we did not take action. There will be different opinions just like whatever decisions we make especially we are women and we may think or seen as not as good investor as men. 

There are so many good examples and stories that women are at the top management and potentially be a better investor than men in some examples. We women just need   first shift our mindset that we are not capable of investing, we leave it to men in the family to manage finances and we may make mistakes and be blamed. Do not be afraid to try and invest, is okay to make mistakes at least we have tried and we learn through the process. We are just being too hard and critical of ourselves of what we are capable of. I have seen and hear stories that women became crippled and lost when they lost their spouse, father, son or brothers and they do not know what to do with the financial blueprint. Or they are given a large sum of money but do not how to invest and grow the money so we will not depend on active income. 

I am still learning and so can you to start learning and start with something that you feel comfortable and resonates with you.

 I hope that through my sharing, it draws inspiration and personal reflection for you. I believe every woman can be a leader in your own way.  

I look forward to seeing you in my next episode where I will be sharing with you tips and ways to realize your full potential as a leader on Woman Leadership.