Leveraging House to create an asset for some
MONEYMONK WEEKLY MESSAGE 16/2019
Leveraging House in
some cases when employer provides a house or house
Rent allowance
Some people are in
jobs where employer provides them with a house or pays house rent allowance.
Such people have an unique opportunity to increase their assets and make a move
faster towards their Financial Freedom by wisely selecting a location and buying
a house.
Creating a house as
an asset involves saving enough to pay as your share or margin money for a
housing loan and then taking a loan and buying a house. This house can be
rented out to generate additional income. This income can be used
initially to repay the housing loan and subsequently to invest to grow and
contribute towards your Financial Freedom.
If you are in such
jobs for a long haul and start using this method to increase your net worth
early in some cases it is possible to have two such house properties before you
retire.
Selection of
location to buy such a house/ houses and some key considerations I will discuss
in the next message.
Note:
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