What if I purchase a home in every city I work?

Dec. 4, 2018

Introduction

It is a good research topic called purchase a home every city I work or live. I lived in the city of Yichun, jiangxi province, Shanghai city, Boca Raton in Florida, Vancouver in Canada. What if I purchase a home in every city I live. How can I possible do that? How to do that if possible.

My research and case study 

I already owned a home in the city of Boca Raton, in 2017, after I purchased in 1999, I paid it off with $25,000 home equity line debt. I had to take loss to purchase US dollars over $22,000 Canadian dollars with rate 0.80.

I also paid for a home as a gift to my mom in the city of Yichun in year 2000, I paid every thing with extra to do internal simple decoration, my mom passed away in November 2017, based on my sister who made purchase, I may own 1/12 share. I am a Christian, and I do not want to get into any dispute since I learn from bible teaching. Also I like to learn how the money doubles value if I gives away, but I spent 10 times more and then ended up nothing left. I want to learn.

I did not purchase a home in the city of Yichun. I paid for one but it is a gift but I did not own it.

It is tough for me to review those financial records of expenses and I did not learn to adapt from 1999 to 2001. Personal finance is not tough to learn and get idea how to live under mean.

Now the topic is how I can purchase a home in the city of Vancouver and Shanghai. How can I do it?

If I learn the money game, and also I work very hard, do not purchase brand new car; keep my old car in Florida. I rent out the second bedroom, do not invite my mom to visit me in Florida; work very hard to save every dollar. I should be able to save $40,000 US dollars from 1999 to 2001. I should be able to purchase a home in Shanghai using $300,000 Chinese Yuan/ 1000 square foot using cash, US dollar $40,000 dollars. But in reality, I was never able to save more than $20,000 dollars and had ideas how to spend the savings from 1999 to 2001.

City of Shanghai

I have so many classmates of SJTU undergraduate and graduate owning home in Shanghai. I worked in the city of Shanghai from 1988 to 1989, and then I went back to work from 1992 to 1994, and changed a job to work from 1994 to 1996. When I left Shanghai, I had $8,000 Chinese dollars, after I purchased expensive airline ticket, I only had less than $1000 dollars left and I was lucky to have scholarship from Math department of FAU. I asked my friend and she asked her boss lady to provide a bank letter to help me to show $3,000 US dollar to cover living expenses back in 1996.

Based on the fact that my finance data in 1996, I did not have chance to purchase a home in the city of Shanghai when I left Shanghai. At that time, the home price is $3000/ square meters.

Technically I could not get a loan since I do not have enough down payment around $60,000 RMB. I changed the job and the two years salary in total is $28, 000 RMB from 1994 to 1996.

City of Boca Raton

I got a computer science master degree in 1988 in Florida. I worked full time from 1998 to 2001 and made over $100,000 net income. I made two purchase of home, one condo in the city of Boca Raton, one is in the city of Yichun, Jiangxi province, China.

I did very good job to purchase the condo in the city of Boca Raton in 1999 when the market price is lowest.

I did not learn how money works, and also I did not learn how hard it will be if I like to exceed my full time job in a startup from 2000 to 2001.

I called it a big check syndrome, lessons I learned from my own experience. I wrote a blog on this.

City of Vancouver

I landed in Canada in 2010. I will write down something here. I should be able to get a loan to purchase a condo in the city of Surrey from 2010 to 2015. I need to work hard and be proactive.

Big check syndrome

Dec. 4, 2018

Introduction

It is the term I learned from "The 20 rules of money" 21:22 - 23:00/ 25:27. I like to apply one of rules big check syndrome to my case study: Personal finance analysis from 1999 to 2001, since I found out that over $100,000 net income from 1999 to 2001 is gone. Nothing left when I left USA to immigrate to Canada in 2010. It is best example to explain called big check syndrome.

Nothing left

It is true that nothing left for those $100,000 US dollars from 1999 to 2001. I only had the gift to my mom a condo and now its market value over $100,000 US dollars. My mom passed away last year, but I did not own anything based on the paper work. As a Christian, I also learn not to argue with my siblings if there is any dispute.

22:34/25:27

Would you rather give you a half million dollars or would you rather take an income stream, guaranteed, $100,000 over 20 years.

Let me tell you why the $100,000 allows you to do more. 22:58/25:27

23:05/25:27
See, this gives me the opportunity to have a stronger backing to make bigger decisions to get bigger doubles.

It's irrelevant if you don't know how to play the money game.
23:25
This [income] is a very, very important game, so don't get too crazy about big check syndrome. And all of a sudden fall for it and lose everything that you got because it can totally mess up your net worth and you work all the way back to your double.

The 20 rules of money, here is the article link with more detail.

My personal finance struggle

Dec. 4, 2018

Introduction

It is one of my research area called personal finance. If I can handle very well my finance, then I will have more confidence to handle better on my career as a software programmer.

Mistakes after mistakes

It takes some discipline to learn how to save money. I did my personal finance review, I spent over $4500 Canadian dollar on one month trip in 2012. I am single, all I can do is to purchase an airline ticket and then that is all. Minimal life style.

I did the totally opposite. I did not learn how to say no. How to budget and how to negotiate with relatives, siblings, and seriously deal with relationship with people.

I own nothing in the city of Yichun and I do not own any property in British Columbia area as well. It is more challenging for me to solve problems compared to year 2001 and year 2010.

One thing I like to do is to write about personal finance, and also I have to push myself learn some basics. If I can prepare very well, then when the market went down in 2008, instead I closed all accounts, sell all stocks and mutual funds in 2009, I will carefully consider and use all money to purchase Microsoft stock with $20.00 dollars a share. Since I learn that there is a few ways to double money, one is to buy stocks, good company stocks on bear market.

Never too late

I start to document all purchases, and I like to document my personal finance and see how I can grow from a seed in Canada and have some wealth and asset one day.


Wealth, like a tree, grows from a tiny seed
the richest man in Babylon, Georges Clason

Case study: three exchange transactions

Dec. 2, 2018

Introduction

It is hard to read my sales data. I did make mistakes to buy high and sell low in Canadian dollars from 2010 to 2017. I need to come out the idea to cover the loss, one idea is to buy low if I have US dollars in short future

Three transactions

It is a good idea to write blogs related to personal finance, and then I can train and learn how to improve my problem solving skills. I had issues since I did not make any purchase of a condo from 2010 to 2015 before condo price went up. I think that the problem is that I do not document and learn from small projects in my life first. The idea to fix and learn is to start from a vacation, rental car, buy or sell Canadian dollars  small projects first to improve my analysis.

Here are the facts:

2010 April 23, I purchased Canadian dollars using $17,000 us dollars. At that time, one US dollar can get 0.98 cents. Usually I can get better rate not from bank. Here is the blog.

2017 August, I purchase US dollars using Canadian dollars 12,000 dollars, one Canadian dollar exchanges 0.78 US dollars. Here is the blog.
2017 Sept, I purchase us dollars using Canadian dollars 10,000 dollars, 0.80. Here is the blog.

So I purchased Canadian dollar with high cost, and purchase with high cost. The difference of each transaction can add up to 4000 dollars.

I need to purchase Canadian dollars in 2010 multiple times, and learn the market and get ideas. Only purchase if I need. When I need to purchase, plan early, study Canadian economy and understand oil industry of Canada.

Analysis

What I did is to purchase high and sell low. And the purchase of Canadian dollars costed me more in 2010 when the price is highest one. And I purchased US dollars when Canadian dollars is lowest time in 2017.

Actionable Items

I break the money rules, buy low and sell high. I need to purchase some Canadian dollars if I have US dollars to cover my loss.

2010 April 23
US dollars $17,000 -> $15,000 Canadian dollars, exchange rate 0.98

2017 August
Canadian dollar $12,000 -> $9400 US dollars

2017 Sept 5
Canadian dollar $10,000 -> $8019 US dollars

I purchased high to get Canadian dollars in 2010, and I sold low in 2017 low price Canadian dollars.

I should prevent this happen long time ago. I should spend time to study Canadian economy, if I can work on weekend 1,000 hours, each hour study I can save $7.00 dollars on those three transaction. In total I can save $7,000 dollars in loss.

Case study: moving violation driving ticket

Dec. 2, 2018

Introduction

I got a driving ticket in 2014. I took it very seriously, since I got two violations in 2010, and the police officer gave me the chance, took my excuse. But in a few years, I got another ticket, I knew that it was very serious. I spent one month to read driver license book, page by page, paragraph by paragraph, I tried to understand the basics. I also plan to review the book every year, I put into my office to make sure that I will read the book in lunch time if need.

Personal finance month

I did choose to pay the ticket right away. I learned that it is not good practice to argue. I need to take seriously and learn the driving rules, try to remember one by one. In 2017, I had a car accident, one car hit me from behind, and he hit and run. He told me that let me catch the bus, it was bus's fault, I did not even have time to look at his driver license number. It happened in less than two minutes, the hit and run whole process. I did not even have time to step outside the car, the big truck ran away.

So I like to do case study of driving ticket in 2014. I had personal finance month, I came cross the driving ticket, and then I skipped the document. And I just like to share and document my case study on this ticket.

My auto maintenance

Dec. 1, 2018

Introduction

I owned a used car starting from December 2014, and I like to review my maintenance cost. It is time for me to train myself to work on detail in terms of payment, how to reduce the cost and live on minimum.

Case study 

I made purchase in 2014, and then first maintenance costed me $900 dollars eight months after the purchase. So I stopped to visit the auto shop, I had to cut my expenses since I could not afford it.

One is to drive less, and the other one is to understand what is need for the car. Every year I only drive less than 3000 KM, I just drive local highways.

Financial data to maintain the car

How to maintain the car every year? I paid $5500 for a 2001 Honda Accord with 148,000 KM in Dec. 2014.

Here are some maintenance I did after the purchase.

1. 2015 August $900 auto maintenance on car dealership. (cost too much for 3000 KM driving)
2. 2016              $500 auto maintenance
3. 2017 car accident, over $2700 repair by auto insurance (Need to find statement)
3. 2018 $50 oil change

I like to review what I have done in terms of maintenance. In order to train myself smart on living, I need to study things related to auto maintenance.

6/13/2016
Oil change
Brake fluid flush             $100
Transmission fluid flush $199

I wrote a blog called my office to show how I learn to put a backup tire to get tire repaired on tireplus.com.