Vuthy's Sharing Mission

About a year ago, in August 2014, I blogged that I had bought my own solo property in Kampong Speu province. It wasn't a brag. My only sole purpose is to inspire others and to share tactics to accumulate more wealth as I had been inspired by other successful people.

Today I blog about how I've bought a house (Just booked by now). So, this blog is more about my imagination and steps that I am going to take to accumulate this house.
Actually, I went to make the first deposit yesterday on December 02, 2015. The first deposit was $10,000, and I will still have to pay another $130,000 because the former owner agreed to sell for $140,000. It was reduced to this price after 2 weeks negotiation.

This post will explain to you what this house is and how I am going to get it, with the help of others.

Cost of the house:
It costs $140,000. It is not possible for me to buy this alone. So, it's me and my mum together we pay for this. It's $70,000 for me and $70,000 for her. I am not going to mention in the blog how she gets her part, but mine alone. So, basically, I will need to have $70,000. And this is how I am going to get it. (Not successful yet!)

My wealth by now:
- $23,000 (I expect to get this amount if I happen to sell the land I bought earlier in August 2014)
Link to article about the land
- $2,200 (Cost of half a hectare rice farm I bought last year, I do not know how much it costs now)
- $20,000 (I have this in my bank account as I got this from wedding gifts by guests on my wedding day)
- $8,000 (If I happen to get this from tong tin)
- $1,724 (Salary per month)
- $5,000 (Loan from Grandma from USA)

From the amount shown here, it clearly shows that it is impossible for me to rush to sell my property and get the $70,000 because by now I only have $20,000 in my bank account.

So, I approach a bank for the other $50,000. I have collateral for this loan. I got a special interest rate at Mega International Bank. I got this rate $58/month per $10,000. Thus, I'll have to pay $290 interest per month. The rate will decrease as time goes by and as borrowed capital decreases. I am going to repay this capital and interest in installment.

At the same time, I will start selling my properties but no rush. By the time I sell my land plot, I will have $23,000 extra. I will probably lend this $23,000 to someone who is in need for an interest of $100/month per $10,000. So, it will help me pay off the bank too. The reason that I won't use this $23,000 to pay back to the bank directly is that I could get an interest rate at $100 or $150 if I happen to lend it to others.

Also, since the house is in good location. And former house owner used to rent it for $350 per month. I expect to rent this for $400 per month. Thus, it may also help my repayment with the bank. But if I get $400 per month, I will share with my mum. So, I'll get $200 per month from rent.

If everything goes on well, I'll have the house (half of the house). And if the price of the house increases a lot, I might sell it and share half with my mum to find somewhere I can afford to buy alone later.

Phewww!! It's going to be an interesting financial journey for me! Invest!

House location:


Update, November 17, 2016:
It has been a year since I bought the house. I rented it to a tenant for $400 per month 8 months but she already moved out (I got $3200). So, it helped my loan repayment which is $1800 per month, that means I had to pay $1400 per month after deducting monthly $400. Since $1400 is for me and my mum. I alone had to pay $700 per month for my part.

Let's talk about the money I had prior to purchasing the house
+approx $25,000 I have not sold the land in Kampong Speu. Link to article about the land
+$2,200 land. This land is still there.
+$13,000 (Not yet get from tong tin)
+$1,760 (Salary per month)
+$5,000 (Loan from Grandma from USA) - Grandma said she gave us. So, no need to return, but I used it to pay for the house also.
-$20,000 (I have this in my bank account as I got this from wedding gifts by guests on my wedding day) - This money has gone for purchasing the house. So, no more to consider.

Since we have had this bank loan, we have repaid about $10,000 in one year. 6 more years to go.
Whether I can sell this house or find a new tenant, I do have a plan to buy another house which cost around $40,000 in 2017.

Normally if we go to buy the ticket directly at the Underwater World Pattaya, it will cost 1 visitor 500 baht, and 300 baht for children with height below 130cm.

However, before going to the Underwater World, I was suggested by a taxi driver to contact Mrs. Pim. She opens a travel agency. The price I got to visit the Underwater World was 450 Baht per person. Together, I went with 8 people, thus I saved 400 Baht. I am quite sure that the taxi driver gets some commission. However, I didn't care as the tickets worked well and I got a discounted price.

If you contact the agent directly, I guess you could get even lower than 450 Baht per person. Give it a try!

Her address is in 336/6 M.9  Central Pattaya Road. Tel: 081 782 7676, 093 111 4407

https://www.facebook.com/bayonpastryschool

Disclaimer: This article was written by a third party and falls into Guest Post category. 

How safe is a Solex lock? I guess not only Solex, but other brands also. I lost keys of this lock and I had a chance to observe a lock repairer. It did not take him much time to make a new key for me. It took him about 2 minutes to observe what's specific inside the lock.

Today I would like to introduce you to a special Kuyteav restaurant, located in the centre of Phnom Penh, and that is Kuyteav Psar Chas.

I have always loved Bonsai tree since my first time to see it on the internet. Unluckily, it is not easy to find in Cambodia. On the internet, I learned that I could find Bonsai tree in Vietnam. However, I never had a chance to go to Vietnam since I have become fond of Bonsai.

How it looks on the internet. Don't you love it?

In March 2015, I went to Bangkok and did not mean to go to Jatujak plant market. It was when I and my friends Mamiao and Chanutr did not know where to go at night around 9:00 PM. Then, we agreed to go to plant market.

If you wish to shop at the market. You may do so as well. Jatujak market is a weekend market where people come to sell many different kinds of products, creative products. On Wednesday evenings, they open shops to sell plants.

There, Chanutr shopped many small plants. She loved them. So did I, but I did not have a clue on how to deliver it home.

After walking for a while in the market, I saw my lovely Bonsai trees! They were so lovely. It was so hard for me to choose because there were varieties! And the price varied a lot too. I tended to choose the small one so that I could carry home.

I bought my first Bonsai tree for 400 Baht ($13). It came with a vase.

My Bonsai tree at hotel in Bangkok

Since I traveled back to Phnom Penh by plane, I requested for help from my colleague who return from Bangkok by van to help deliver my Bonsai to the office. Because after talking with AirAsia staff, they told me that I cannot bring any kinds of plants on plane.

However, all was done and my Bonsai tree is now safe at home in Phnom Penh. I forgot to tell you, my Bonsai tree will have red fruit too :D

My Bonsai tree at home and is healthy

On Sunday, March 15, 2015, I and my ILO colleagues traveled by van to Bangkok through Poi Pet - Aranyaprathet border. We had a great time along the way.

Us, stopping by at a Battambang restaurant for lunch, and resumed our trip at 13:00.

I and my colleagues have arrived at the border. Here is a picture of us already crossed the border, at Aranyaprathet side

Took this shot while waiting for Chhoung at Siam Paragon

So, the summit began with Connor's welcoming message and lots of inspiration

First evening of the EA Summit at pool party to welcome all Enterprise Advisors

Enterprise Advisors from other country programs seemed to like Krawma (Cambodian scarf) a lot. Cambodian team offered many gifts during the summit.

A picture I took from BTS Udom Suk while waiting for Chhoung to go to IKEA at Mega Bangna.

For the evening of second day, I went out with my colleagues to some malls in Bangkok.

Although M was so busy going to hospital, but he stopped by to carry a gift from Moscow to give me at Siam Paragon, while I was waiting to meet Chhoung on the first day of his arrival.

I missed walking with my girlfriend from hotel to Pratunam and BTS Ratchatewi every morning. And that was not long, we went there in November 2014, just 4 months before the EA Summit which took place in March 2015.

Walked through Central World almost everyday, took a chance to grab this shot with my iPhone 5

Waiting for ferry to come. Here is Mamiao my lovely friend. Don't remind me of her getting mad. It was scary. But that was my fault that I kept her waiting all of the time.

The next day after spending a night on a floating house, Mamiao's friends started swimming. I joined them after :D. It was my first time to swim in such a big lake. I only used to swim in pool. This was a great experience.

M, Mamiao, Chanutr, and I - We met at Terminal 21 for cheap dinner. Thanks my lovely friends who come to see me every time I go there.

A house-like boat was dragging our floating house to an island for a better view and cleaner lake to swim. It took one hour to drag the house there.

My colleagues cheered during pool party during the EA Summit

Always the same buffet, every morning. Sigh..

P' House was singing all along during the trip to Kanchanaburi, and yet when he got back, he still sang at his HThroughHeart Ice Cream shop at Khao San road. He is so energetic!! Not to mention, his ice cream was so delicious!

Chhoung, M and I at Mega Bangna. Chhoung wanted to shop a book case and we decided to go there again.

Before crossing the big lake to another side of Kanchnaburi province

With Mamiao in Central World for Tacos

Chhoung got up like this

Evo was introducing Diagnosis in the EA summit

Ice Cream introduced by M at Terminal 21. So many flavors. Love it.

I liked standing at this corner with less people on BTS

Spent my last night before returning home to watch a movie called Run All Night.

This year at the EA Summit, the team building activity was to build Krathoong and present its meaning

Also went to Asiatique again and bought some small gifts for ILO colleagues

Another picture at Asiatique

Minna, was acting as press during EA summit

Took sometime to visit with Mamiao and Chanutr at Jatujak plant market on Wednesday night

Kanchanaburi waterfall. It was beyond reality!

I bought a Bonsai tree from Jatujak. Love it and going to take care of it well.

After the EA Summit, I stayed at Tune Hotel with Chhoung. I love this location as it's very close to Terminal 21

In warehouse of IKEA

The trip ended well with M seeing us off at the airport on March 24, 2015.