i've been reading from page 1 till this last page, and i must say Michaellee has been very helpful with his tips and advice...as much as a property investment myself...i still learn everyday and be reminded of people's advice.

being an real estate agent for my line of work doesnt automatically make me a smart investor, i have paid $$ to educate myself via books and seminars to equip myself with education on how to invest in properties.

always wanted to get myself into auction property investments, and besides learning just like how everyone else first started learning something new...my advise is read as much as u can, research as much as u can...and due to red tapes & time efficiency with so many parties involve in transaction a property (lawyers, developers, bankers, etc).. therefore the best is to have cash ready for auction properties.

we may hear excuses from people say not enough capital, no time, etc...but if there's profit to make...an excuse is just to give us comfort on our fear & laziness. With right mindset, the right mindset will go all out to raise money or be ready to grab any profitable opportunities.

for those new thinking of buying any property out there... most basic thing to remember is:-

1. don't kena CCRIS (means make payments on time)
2. educate yourself to make more money (capital comes from here)
3. learn and follow the money jar system
4. wanna take more loan? dont forget to pay more income tax.. if u avoid income tax..no banks will lend u money
5. spend some money on property investment education rather than getting burned
6. make friends with bankers & lawyers..

last but not least, i cant speak for other agents out there... but the reason why some bidders have to pay 1% commission to agents is because there are some auction property that the banks dont pay us any professional fees... agents are humans & have the same commitments like everyone else...we need to bring food to the table too =)


anyway keep up this good healthy discussion... i've already achieved 1.2mil in good debt...aiming for at least another minimum 3mil-5mil in loan..

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Added on April 16, 2012, 3:47 ami've already on my 2nd property on loan...if any of u out there has some advice on how to go around the system for buying the 3rd property without the hefty 30% downpayment...i would love to hear & learn from your experience.

cracking my head now on how to buy 3rd property

This post has been edited by golfphunk: Apr 16 2012, 03:47 AM

if u avoid paying incometax...that shows that u are earning less than RM30k per annum..

then u are limited for loan range u can get

jalstrix.. did u read through page 1?

there's alot of information discussed there which is very helpful..

as for your question...winning bidder

haha..read from page 1 until the last page buddy =)

out of 10 auction maybe 1 may be worth bidding... its a number's game..

Michaellee... when can i buy you a meal? it would be my pleasure to get to know u as a friend and learn from you abit on property investments.. =)

i agree that 3 years ball game vs current market is always different.. we always say its expensive..but due to the RM500k minimum cap for foreigner to purchase a property here...a singaporean client of mine bought a unit in KLCC area for 1mil last year...and he says he can only buy a HDB flat in singapore after conversion.. and many people with cash buy because of lifestyle..its not an issue for them

but its always running in my mind..to either invest for passive income on rental..or cash out out for capital gain and reinvest again..i guess im not that high risk taker for the latter option.

commercial is always nice to go in..but high risk high profit.. 1 time burn will probably cost me bankruptcy.

Michaellee, what's your take on the upcoming GE? if BN stays or opposition rule...what u think could happen to our real estate sector? certainly i was too young to even know about investment during 1997..

big brother is watching

excuse me Datuk... i was talking about property effects due to upcoming GE...and nothing much on politics were discuss anyway.

before you tell people where to go...use your eyes and read...don't expect people to feed you with all the information as if you are paying people salary.

if u got nothing much better to offer...then better dont comment.

tq

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Added on April 25, 2012, 1:45 amwell said Michaellee.. kids these days are spoilt

This post has been edited by golfphunk: Apr 25 2012, 01:45 AM