I made my first real estate investment when I was 27. And after knowing how good it was, I wish I started earlier.
After graduating from the University last 2008, I landed a job in sales as a project coordinator. I assist real estate sellers and managers to sell the newly launched project of Ayala Land in Sta. Rosa, which is NUVALI.
Looking back, I remember my Boss pushing me to invest even on 100 sq.m lot at Php 700,000 by seeking help from my parents. Of course, my automatic response was I’m too young for that. I’m just a fresh grad who for the first time, will not ask money from my parents. Besides, how can a 10K salary afford a property and what the heck do I know about it! So, I went on with my life buying things I never had and traveling to places I’ve never been.
I’ve been living the “good life” not until my scoliosis get in the way. At 26, I was asked to prepare close to a million as I needed to undergo a spine surgery. When I looked at my bank account, it can’t even afford 5% of that million! I was just lucky my parents have the means to come up with the fund and then I realized, what am I doing for the past 5 years? Where did all my money go?
I immediately got a life insurance, undergone spine surgery and after this life-changing experience, I am actually thankful as it made me realize that I am not maximizing my time, my earnings and my health to invest on better things that would really matter. I realized I haven’t planted anything financially that can help me or my family when an emergency like this arrives.
So, I started thinking about investment. And since I’m in real estate industry, I don’t need to look far. I checked again those lots being offered to me last 2008. And to my surprise, that Php 700,000 is now Php 2,500,000! Where the heck will I get that money? And eventhough I have the money, everything has been sold out! I wish I pushed myself to invest before! After that, I promised myself that if an opportunity comes, I won’t let it pass for the second time around.
Surprisingly, the opportunity came right away. The company where I’m in announced that we’ll be opening a condominium project inside Nuvali with a pre-selling price of 1.6 Million. It’s called Amaia Steps Nuvali.
Without any hesitation, I reserved a 38 sq.m studio unit with balcony. I didn’t tell my parents nor my friends as I don’t want my decision to be affected by possible comments from other people. I know that I want this and I will go for it. I really don’t have enough money that time. All I have is courage and determination to work hard so I can pay for it!
Three years later, I surprised my parents during the unit’s turn over and the joy I felt is indescribable. I feel proud that I was able to pull it off and my goal of having a property I can call my own before 30, came true. I feel so fulfilled seeing how my parents are so proud of me.
Talking more about this investment, I reserved a studio unit with balcony last 2013 at 1.6 Million and after six years, it’s already at 3.7 Million. My only goal then aside from wanting a property of my own, was to put my money into something worth it instead of branded clothes or gadgets. After the unit turn over, I rent it out and in an instant, I don’t need to worry about my monthly amortization as it is self liquidating and I’m still earning extra out of it!
With this investment, I know I’m beating inflation, I benefit from value appreciation together with inflow of money by renting it out way much higher than my current amortization. Also, at the end of the day, there is peace of mind because I know that whatever happens like extreme case of emergency that will require a huge amount of money, I have a property that I can sell at a very good price.
This first experience led me to invest more into other properties and I am really thankful that I’m already reaping the rewards of the decisions and sacrifices I made three to five years ago. My second condo located in Alabang has an amortization of 15K but you can rent it out at 35K. This allows me to enjoy and spend more without any worry and guilt.
Indeed, time is very critical in any type of investment. We may have a lot of excuse of not thinking about investing on insurance, real estate, stocks and the likes. But really, you need to ask yourself. If you’re not gonna start now, then when?
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Loreene! So proud of what you have accomplished. How I wish I also made that wise decision to invest when I was younger. If only I wasn’t that worried how my family responsibilities will be a hindrance for me to do it at that time. Thanks for sharing your experience! See you sooner! 🙂