I am very new to property investment or real estate investment. I am planning to buy a lot of houses and shops to rent out but I do not know how to get started.

1. Normally, how much capital is required to get started? I want to start small, maybe buy a single storey house (RM100k to RM200k) then rent it.
2. Buy houses, shops or lands, which is better?
3. I read books of Robert Kiyosaki and play the Cashflow games. It can buy high value property using very little money of our own. Is that possible? How to do it?

I am very new to this and I hope I can learn before I jump into this investment. Thanks for any help and guidance.

Buy at Auction.
As robert ased us to buy below market value.
PM me for more details
I can share you real story

Buying property for investment is not a bed of roses. You have to analyze the potential of the location, and the return of investment.

PM me if you would like to get a mortgage loan.

Robert did not just say buy below market value.
By just looking at market value itself, Robert would say that is speculating.

http://forum.lowyat.net/index.php?act=Sear...user&mid=296681
According to your previous post, you are property auction agent.

Robert warn us about people like you.
You will get paid if someone successfully bid the property, not caring if the investor loses money buying from the auction.

Well said!

It's always a love-hate relationship between investors and agents -
On one hand we need them for the information and connections, but on the other hand we just can't tell whether they're giving us the best advice for us or themselves.

In the world of investing, there are 2 types of agents. Regardless of property, stocks or business.

The one who can put food on both of our table and the one who only put food on their table.
I am glad to meet my agent, they teach me a lot and I thank for their time and knowledge. (paying them better too)

How to identify whether the agent is good? I have very less knowledge in this and I really not sure how to see they are telling the truth or not. Some agent promote a thing because they want to earn money not helping us.

Of course I will get paid if my customer is the successful bidder....
Nothing is free in this world....I should get paid for the job I did
But my service is FOC for my client...the bank will pay me, not my client....
Auction property is different from sub sale....in subsale, you might get cheaper if you go direct to owner...
But in Auction...buyer will pay the same amount...
I will not charge a single cents regardless whether my client success or not during the bidding process
I will do my job finding a place, giving basic info about the property i.e market value, rental value
Its up to the client to decide....I'm a property agent...not a financial advisor..
No force is given....

If one feels that an agent is useless and not needed...then go ahead and do the petty-petty things yourself....
You can collect all the auction data yourself, contact the lawyer yourself, contact the auctioneer yourself,
contact the developer/maintenance office yourself.....when you can have someone else do it for you

This post has been edited by Ms.iProp: Jul 12 2009, 03:08 PM

Simple - invest your time and effort in doing sufficient homework.
Drive to that area several times at different times of a day, call up various numbers from ads that you can find in newspaper/iProperty etc, read up in forums...

Nothing comes for free - investment is just like any other job/hobby - you need to put in time, effort and money (petrol and toll to drive around?), and properties particularly, you have to be patient as profit generally don't come as fast as other investment vehicles.

I would recommend Milan Doshi's book (How You Can Become A Multi Millionaire Real Estate Investor). You can get it from MPH.. Spend a little bit as the saying goes "invest in yourself 1st"

The book cover looks like this - How You Can Become A Multi Millionaire Real Estate Investor by Milan Doshi

A book being just a book, you still need to do research on yourself on which prop to go for, the book just help you to kick start..

If you are someone like me who is "giam siap" not willing to pay for property seminars, you can just drop by some property fairs and listen to their talks FOR FREE..

The up coming one is this.. Notice the seminar's invited speakers are Top Guns in real estate.. dont miss it

Iproperty Luxury Collection - KLCC

Good luck

This post has been edited by eugene jk: Jul 12 2009, 03:22 PM

Aim to attend: Milan Doshi, Peter Yee, Renesial Leong

Thanks for the tips and guidance. It is not easy but it seems to be fun. If let say, I have RM50k to invest, would you recommend me to invest in real estate?

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Added on July 12, 2009, 3:31 pmThanks for sharing. I read that book when I am looking for investment books in MPH and Popular Bookstore. It is a good book. I will buy it soon. Since I am staying in Kuching, I would not be able to attend the talk in KL.



This post has been edited by sdas86: Jul 12 2009, 03:31 PM

If you have the interest and passion for buildings + patience + capital - go for properties.
The fluctuation in properties are mild compared to stock market - especially if you focus on properties at good locations (near LRT, amenities, not Rawang or PD where heavy speculations come into play).

Just my 2 cents.

Funny, I remember dreaming about this discussion before...

To TS.
It take years to be successful in this business.
Which many people have spent time looking for deals every week.
It's a hard and long journey.

As Robert Kiyosaki would say, why you want to invest?
If you just want to earn more money, the likelihood of failing is high.
First, find your reason why you want to invest.
Take some time to think about, it's about what you want to do with your life.
Once you have a strong reason, no matter how hard the deal gets, you will get through it.

Real estate has both strength and weakness.
The biggest strength, passive cashflow.
You can use this investment vehicle to retire in a few years.

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Added on July 12, 2009, 4:16 pmFYI.
I pay my agent 50% more to help me bid the auction property.

If their normal rate is RM2k, I'll pay RM3k.
Even if the bank pays them commission.

I already know the bank will pay you commission.
I don't like it, especially when deviating what Robert says just so that you get the deal.
That is really unethical.

This post has been edited by jasonhanjk: Jul 12 2009, 04:16 PM

Thanks.

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Added on July 12, 2009, 4:46 pmThat is a very good advice. I read books by Robert Kiyosaki and that is what I stress a lot.

My reason:
When I am rich, I want my parents to enjoy their life and I want to give them better life. My aim is to start a real estate management company in Kuching.

I think that my reasons are not strong enough.

What would be your reason?

This post has been edited by sdas86: Jul 12 2009, 04:46 PM

1. Normal capital required is approx 15% of the targeted property price. Some use only 3k to buy a 300k condo.

2. Shops, if you have the cash.

3. Its possible, but advise you to get a hold of the basics first before jumping into an advance subject, IMO.

Good luck.

Agree with Pai.

Dont just read Robert's book, read more than that. Visit property investment forums, ask questions, learn from the sifu's before you take the plunge.

My reason. I am tired of working. Everyday I have to spent 3-4 hours travelling.
I rather have fun and enjoy it.
The time wasted for travelling is a very good motivator.

My plan is to retire in 5 years time, which started last year.
The aim is to get 10 properties in this time frame.

Since I lost a deal last year, this year I need to get 3 properties.
My first one is in the process, on the 15th there is another auction so my agent will bid on my behalf.

Before I have this 5 years plan, there was another 5 years plan earlier that didn't make it. The reason is because I lack a strong reason. So this is the update what I have now.

BTW, have you got this?
I consider it to be one of the basics, read this first.
From there on, I recommend start doing that 6 steps.
Start doing by looking at 20 properties every week.
Also get Azizi Ali books. They are a great guide for landlords in term of management.



This post has been edited by jasonhanjk: Jul 12 2009, 05:38 PM

I haven't got this book. I will try to look for it in MPH. I know there are a lot of books by Azizi Ali. I will buy it and read it too. Thanks a lot for your guidance.

May I know what job are you involve in? And what age do you plan to retire? How many years have you been working?

I am in engineering field and I am not sure how much salary per month for me to get started in real estate. And, how many years of working to be eligible for housing loan?

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Added on July 12, 2009, 5:53 pmThanks. You are right. I got some books suggestion and I am going to read them soon.

This post has been edited by sdas86: Jul 12 2009, 05:53 PM

"Some use only 3k to buy a 300k condo."
Is it advisable to do that? i.e. dun have to pay anything initially (borne by developer & bank) & only pay monthly installment. if i can flip this (i know it's a big IF), surely it's good deal? or is there anything that i miss?

and for this period of uncertainty, is it ok if my debt to gross income ratio is 40%? (one apartment + one landed house)