Today I am in a bad mood. I was expecting to get my loan approved. The manager called and said, “Sorry, I have got bad news Mr.Gupta.”
So now my loan is rejected, I am f**ked. I don’t have many options left. The debt burdens your life so fast as the reverse power of compounding keeps piling up in no time.
So I have to think of clearing my debts quickly and look for a steady income. The loan could have removed my credit card debts and some money borrowed from friends. A chunk of it would have gone into my self -publishing business. In fact, I had thought of investing a little in Steem too.
Today, all the castles in the air have come crashing down. Now, what next? I have my only option. I may have to sell my house.
Owning a house is every Indian’s dream, and I am one of the proud ones who owned a house. Almost all my loan on the home is paid. I had applied to the bank for a mortgage loan. They rejected it with the reason that I filed my taxes late. I had filed late but had paid my taxes on time. So much price to pay for being lazy!
I am a master procrastinator but never had to pay such a big price for it. My savings are fast vaporizing, and the chances of getting a low-interest loan seem bleak.
To pacify myself, I read a lot of articles today about why a house is not a great investment. Many of the prominent financial experts don’t believe in investing in a home unless you get it at a cheaper price.
Today, the real estate price in Mumbai is beyond a middle class person’s reach. So I am very concerned that whether I will ever be able to buy a house again.
I am very confident about my success, but that is just a feeling and not a reality. Am I destroying my daughter’s future? Fears just don’t let me sleep. But I have to make a decision soon.
Selling my house can open up avenues for me.
First, I will be debt free.
Second, I can move to a new neighborhood. We never liked this neighborhood.
Third, I can think straight and invest in my business. The money will not then be scared money.
Fourth, For few years, I won’t have to bother about earning my daily bread. I can invest the time and money in myself and my business. It should generate good passive income.
Fifth, I turned to online business for money as with a job; I wasn’t able to take care of my ailing parents and my dreams of making my next movie. It will give me time to do my creative stuff with a clear mind.
With so many positives, it seems selling the house opens up possibilities.
But,
First, I have to pay capital gain tax, which is 20%.
Second, I have to stay in someone else’s house.
Third, What if I finish off this money? Will I ever own a home then?
Fourth, Am I putting my family’s life at stake?
Let me now add about Steemit.
What I have started loving about Steemit is that since I decided to write whatever I can without any inhibitions, I am able to find a solution here just by writing it. It is clearing the fog in my thinking.
Selling my house gives me a positive feeling, a sense of hope. Losing the house gives me fears.
To be successful, one should always overcome one’s fears and think positive. So by this formula, selling the house wins hands down.
Another big positive is – I will be generating Steem power and Steem income too. The money of the future! The community is already there for the support. I think I am on the right path.
Please suggest if you think, I am wrong in what I think and guide me.
Your help is deeply appreciated.
Thanks and more Steem power to you all.