Did a 1-on-1 with this newly married couple. They have bought a property already and they wanted to buy a few more. They have no other debts.
However, I told them that with their limited income that it will be impossible for them to buy another 4 properties unless they are willing to make sacrifices and practice delayed gratification.
Can anyone guess what they need to do in order to buy another 4 properties?^^
Salam guys. The answer can be many things as what many of you have shared.
For this couple, they wanted to use the first property that they have purchased for own use.
I told them that if they decided to go ahead with that, they can only buy max 1-2 more properties in the next 5 years.
Own stay properties, tends to use use up plenty of valuable DSRs.
If a huge chunk of your DSR is used to for something that doesnt generate any income, its gonna be difficult for us to convince the banks to continue borrowing us money to buy more investment property.
This is the reason the house I used for own stay was only a small 2 bedroom apartment where the monthly repayment is less than 1/8 of my salary.
We can always choose. Choose to have nice things today but ended up with average life later or practice delayed gratification to have a spectacular life later ^^