“Success in real estate starts when you believe you are worthy of it.”
Michael Ferrara
I always love talking with a quote, using the very words of successful men who has defiled all odds and achieved greatness to buttress my point. its true that before we can be successful, on anything we have to know within ourselves that we are worthy of it, such attitude create a drive for success.
Sometimes we have this drive and still get stuck, we save money, enter into contribution with the hopes of achieving our dreams, but still misses our opportunity to buy the Real Estate properties we crave for. Its either our savings were not matured enough at that time or its was not our turn to receive the benefit of our contribution. Most of the time saving by contribution can be very risky if some of the members are not sincere, they have been cases of people running away with funds. Or coming up with stories when it's their turn to pay the other person.
Can Cooperative really help out? Recently I had a conversation with client at the office and he told me how being an active member of a cooperative stood as a back up plan for his business. We talked about many things including Real estate. He gave his advised, his advise was "instead of joining a contribution it was better to be active member of a cooperative. Save your money with them for at least one year consistently. Then you can get a loan twice or thrice the amount you save depending on the cooperative policies.
The good thing is that as a member you will be given a very comfortable payment plan to pay back money loaned to you in such a way it won't hurt. Unlike the bank you might not need a collateral to get a Loan. Only details of place of work, how you intend paying back. In that way you can grab opportunities as it comes and pay back conviently even building on your Land can be made easy too using a cooperative. When he finished I saw a sense in what he said, wow I never see it that way. But how do we get a good cooperative genuinely passionate about its members? Well for now! Let's not get ahead of ourselves.
Are you a member of a cooperative? What's your own experience on Cooperative? Enlighten others with your story in the comment section below.
“Unless a commitment is made there are only promises and hopes, but no plans.” – Peter Drucker
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