Property For New Graduates 1. I would like to go back to the year 1989, when I got my first paycheck from UHKL. I think it was RM1150.00. It was a period of celebration for most of us. I remember giving my mum RM150 and bought my first pair of shoes for RM35.00. Most of my colleagues, probably did the same and i note that quite a number of them went to Proton and Honda to book their first car. 2. At that I time I was always interested in properties especially land. I came from a poor background and we own no land. My mother build a house on a piece of land that belongs to her grand mother which was the center of dispute among hundreds of relatives. We were poor and had no option. The house was eventually demolished many years later via an ethically questionable transaction. That is another story. 3. Back to 1989, I spotted a land sale advertisement in the papers. A piece of land in Jalan Tun Razak was up for sale. Price tag was RM1mill. No banks wants to fund a young doctor with a salary of RM1150.00. I went out of my way trying to get funding on the premise that the bank will not lose out because land value will go up. In the event i cannot pay, the land will pay by it self. I lobbied several friends in UHKL back then on the possibility that we should share and buy the land. I told everyone that we could retire in 10 years. Unfortunately the priorities for many of us back then was clothes, cars and getting married. We were in our mid 20s. The deal fall trough. 4. Now days, every time I passed by the land and saw RHB bank standing there, there was a sense of frustration. I could have retired at 35 or 40. It was not meant to be. The banks was in reality not doing us or anyone a favor. Sad indeed. I consoled myself by saying that it was fated and not meant to be.
Posted on: Sun, 11 Aug 2013 03:05:06 +0000