Missed - Second golden opportunity

As I understand, my first golden opportunity was not booking a flat when the rates were around 1300- 1500, in Pune, my second disappointment was realized only yesterday.

Background & Assumptions:
As I described in the earlier post, buying a house in Madurai is the "right" thing for me. And the search continued. My father and my father-in-law were doing that task through some brokers. During that process, we came across certain houses, which were not FIT to live according to my own beliefs and assumptions, though lot of families are living in such houses. A disparity with reality. So we naturally discarded those houses. Off late, I visited those rejected houses when I last went to Madurai and I appreciated myself for not doing a mistake by buying that house.

But as you understand, I am not smart to assess the reality. There are 7 rented families in one particular house. Suddenly yesterday I thought that it would be a good investment to buy that house, since a second source of income would be guaranteed. I eagerly asked my father about the status of that house. As my own luck troubles me, that house was sold for 13 lakhs. That was the amount they told to us also. Another big mistake made by me. When I was keen to think it as the investment option, no one supported me for the very fact, that the locality is not good, buildings are old and all other negative points. Despite all these comments, I should have strongly committed to buy that house.

Hmmm. Gone is gone. Let me start searching with a new perspective. I am NOT looking for a house for me to live there, I am NOT looking for a 2000 sq. feet individual house with fences and a nice parking shed for a four wheeler. Also I am NOT going to buy something, which is of extreme pride for me to show to someone.

I am looking for a simple, old house in a densely populated area with some 4-5 pious families staying in that house, where a source of income is guaranteed though it is minimum.