Case study: home purchase in year 2000

Dec. 1, 2018

Introduction

I like to conduct a case study of a condo purchase in 2000. I chose to support my mom since I had a full time software engineer job in Florida starting from December 1998, and then I decided to mail a personal check $300 dollars once two months. I was not sure how long I can stay on the job. After one year, my sister told me that she bought a condo for our mother using all the money I sent.

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

Case study

Here is the hand writing note from my sister. She shared with me last year 2017 after my mom passed away in November.

I had chance to review the note shared from my sister after 17 years. She chose to share since my mom passed away in November, 2017. I like to review the purchase and make a case study.

Case study

It is so important for me to learn from the purchase in 2000. I paid the whole cost, less than $8000 us dollars from 1999 to 2001, 890 square foot. 

To be a good investor, I should learn to be a caring person first. To help my mom to have her own home when she was 70 years old in 1999. I also learn that invest early, and also think about long term. A home is the most important thing in China, I used to have the financial ability to do so many things in my home town Yichun city from 1999 to 2001, I could make such great influence.

Delay gratification

I wish that I learn money rules, delay gratification.

I wish that I saved all my income from 1999 to 2001, and then invested all of them into the real estate market in the city of Yichun.