Buying or Building a House is a BAD Idea - DO THIS Instead!!
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- เผยแพร่เมื่อ 5 ก.ย. 2024
- Do Not Buy/Build A House. Do This Instead
Buying land isn't the best investment idea. Do this instead
It's often been recommended that people should buy land due to its scarcity. With this in mind, you need to understand the practicality of owning land and of running a land-based business venture. In this video I break it down for you how buying land can be a risky investment because it may not generate any income and may not generate a capital gain when the property is sold.
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This is the exact model am following. Now i have 3 streams of income thats able to build my dream house.
You are brilliant
IAS 40 defines an Investment property as land and or building held to earn rentals or capital appreciation or both. In a volatile third world economy like Uganda, owning a house can provide a cushion against unexpected business failures due both micro & macro economic factors.A house can also be used as a collateral to obtain external sources of finance as start up or expansion of already existing ventures. Under capital rationing, there are projects called divisible projects ( those that can be implemented in phases). A house is one of them.
So the question of whether to own a house first or invest in a business is a very thin line. Consideration needs to be given to the risk appetite of the decision maker.
Kudos!
Very true. I think you've done it justice
Spoken like a true accountant. Respect
Hi Dr Daniel, everything in this world is to take risks. You can risk and build a House you call your home, start a Business and grow slowly; but residing in a place called home
If you have children, it ia not easy to rent and keep moving with family when the landlord says he/she wants their house
We built a mansion in Kigali, after 4 years of working, along with my husband. Planted veggies and fruits in our compound, reduced purchase of public market veggies and fruits; and we are confortable and ok
Going to start Business and have high hopes of growing slowly by slowly. A land I bought at Usd 5000 now has a value of Usd 150,000 after 15 years
Hey Daniel, for many years I have been planning to buy my own house in Morocco, knowing I would lose out on opportunity cost. This video has exactly given me the extra push I needed to be absolutely convinced that buying property first is a bad idea. Thank you so much !!
Dr.Daniel a week to pass without your motivational speech it's like a year without a rain ❤
Your lying 😂
Wow, thank you!
I've learned money should not lie idle, tied up in fixed assets,money should be growing.
fixed assets also appreciate in value. I bought a house for $400,000 about 4 years ago, its worth $650000 today. Not a bad return I dare say
Dr. Daniel, my guy. You're right on many fronts, but not on this. My mortgage is literally 60% of what my renting colleagues are paying. Even in the current economic climate
I feel reborn..thanks doctor...imagine as u pay off the mortgage loan, u r looking for money to build
If I would have do the same way you are telling us now brother, I would have gone long time from Somalia
It's never too late to start
Am a technician and that's my job, but that's exactly what I tell my younger clients, if they can't afford to build now they better invest and wait until they can use profits to build
Wow you're a genius
This is the same thing Robert kiyosaki spoke about in his book
A house is not an asset because it doesn't produce cashflow. Most people see a house as an asset not knowing they are just holding it for capital gains that's if they would even sell it.
A rental property is an asset not a house you're living in
Start a business with that money guys
You got it well 💯
Everyone with their own destiny's, what works for A may not work for B. Be wise.
Now this is good 👍.
Thank you 4 saying this.
I got an internship after 7years if graduating i was moving from home to home because the land lords were cruel. We would renevotw the house fence it and after that we would be kickef out.
Or we would start a garden and after that we would ne kicked out at some point i became a slave in some church coz i was residing there and i had no option....
The intenship paid well and i said to my husband lets build a place of our own with this 3months contract and am 😂 that i did...
The house is finnished but not furnished coz the internship didnt continue but i Thank God everyday coz i know my babies got a place called home and my ulcers that i developed from being peoples puppets started to heal
I also totally believe anything can be learnt.
Thank you so much for the wonderful insights and lessons.
Guys get yourself a house when it's still early ..you can start business when you have a place of your own even if it doesn't take off immediately but you won't be homeless
Thank you.... Follow me for online part time jobs.
Point, you have to hustle from your safe accommodation
Lol😂😅I'm laughing...
Maybe the other way around is the RIGHT WAY
I agree 100% with you Doc
Awesome
Good idea to start s business before buying a house! It's true most homes are liabilities, but building up is hard work which many people are not ready to sacrifice for
True
A very brilliant idea
Unfortunayely, less than 10% of business starters succeed like you. And the money and time is lost
True. But most don't give it due diligence to ensure their success
This is awesome quit educative thanks for sharing.
Glad you enjoyed it
I enjoy your speed!
True bro.
Dr you’re right ❤
Very nice advice
Hey Doc you have been amazing for me,I live in Rwanda how can I reach you
House being a liability is a concept by Robert Kiyosaki assuming you bought a property with Mortgage(Bank Loan). If you have cash and can afford it How-How is that a liability? (Beautiful roof over your family head) You forgot to mention a house 🏠 fully paid for equal special good bye to Rent payment. If you own your house, how much will you have to pay monthly rent? ZERO.
How can we book session with you sir ?
Am glad to be the 2nd viewer today
Glad to have you watching
Dr Daniel, you always talk sense and Im always grateful to that
Hi Dr.Danile,
Currently am residing in a foreign country where my colleagues are very serious on saving for over 8-10 years and plus with the aim of building just a living house and getting married.
In this case i need to work hard and smart! That way i will be able to put whatever am learning into consideration as well as implementing them.
I appreciate your help
It's a pleasure. Working smart is so important
Business is the real deal, Farm up is 😉.
Hmm 🤔 me planning to build mine
Well, watch the video first.
Hi Dr.Daniel. i have enjoyed the video and theres so much to pick.
Thank you
I need to bread my own broiler chicks how can I go abt this.
Starting a business is not for the fainted heart. Can u buffer the risk? I hope that the audience gets the great brain work you've done breaking it down in such a simple way. I would love to see people like me such as Dr. Daniel givin us the gold nugget to be financially free. Your business idea might be your quickest passport to financial success.
Certainly
Dr you are very very right
Oh yes....it has worked for me
Dr. Daniel. What about if I get a mortgage without down payment.
That would be a good deal.
Dr please give us your location and contact so that we can reach you,
Go and learned about velocity banking
Babiwulila
Stick to farming,
I hope you enjoyed the video
Thank doctor, I for one I can't wait to join the farmup Academy