Mumbai residential prices set for fall of up to 35%

Slow sales and a glut of properties are set to hamper the residential real estate market in Mumbai, India, and prices could fall by a further 30% according to analysts. - Propertywire

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Long term Wealth Creation is a Journey not a Destination

"The destiny is in journey not the destination" Corporate Sufi

Similarly, while creating wealth in Real Estate the same holds true.

Investors need to enjoy the process of creating wealth in real estate. Typically, investors look at the returns, appreciation or discount to make investment decisions. When they find something attractive, they take on a high exposure either through large value of commitments or borrowings. Investors tend discount or ignore the potential risks of market correction, project delay or even default by developer.
Given the uncertainties of the markets as well as inheritent challenges of Real Estate development projects - it is imperative that we take positions that don't give us sleepless nights, stress and tension.

One of the key strategies to be insulated from market cycles & project specific issues is that of strong cash flow from passive income.

Passive Income is the income you earn irrespective of your time, effort or attendance ie your investments working for you. Or as they say 'Money working hard for you"


Wikipedia defines "Passive income" is an income received on a regular basis, with little effort required to maintain it.

Wealth Creation Mantras

• Learn to create money rather than work for money
• Keep expenses @ 33% of your income, Save 33%, Balance has already been taken away by the taxman
• It is better to be wealthy than appear wealthy to people around you
• Never buy luxury items on consumer loan (if you put in cash, you will automatically lower the expense on such purchases)
• Investments not savings allows you to create wealth. Learn to be come a savvy investor
• The house you live in should not be more than 20% of your networth
• Car value should be 2% of your networth (bought in cash)

Cheers,

More Later

Getting Started - My First Blog

Love this : "The messenger is in the message".
I underwent some sort of transformation over the last few years. I was able to appreciate life better, understand how the human mind works and see how our daily choices shapes one life.
I wish to share my knowledge, experience and wisdom gained in the process through this blog.
All the best to me. ;-)