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> A poor kid that wants to earn money

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TSpeerlessmonarch P
post Apr 6 2021, 10:09 PM, updated 3y ago

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Hello my unkers and aunties! A university kid here, idk if this is appropriate for property Q&A, but i hope so haha.

Anyways, i have been researching about property and stuff and know several factors that makes a good rental property. However, the problem that come across for me is that, since I am still a student with no income, how about i use my knowledge and search properties for people that have money?

Here is my idea: since I have some sort of knowledge, I use my time to research on properties with potential positive cashflow and make a thorough presentation like 5-10 slides about the pros and cons of it. Then, I present the info to perhaps you or something? Cause I have no idea who to pitch to. Cause maybe there are moguls or rich people that don't have time to do these, so I will be the one giving ideas and their profit will be good over the long run. I will be giving you the numbers and facts with all the risk and stuff also. In the end, you have the final say of whether to buy or not and maybe just give me commission for my work of finding the great deal?

In the end, it is still based on trust. You can scam me if you want, after you buy already, you can just not pay me, but if you pay me and become long-term client with me. Each time you profit, also i profit! I basically search property and compare around each area to filter out to find you good deals. Meaning that, in the long-run for each property most likely you just cover the maintenance only and you might just own the property for 10% of the price in the long run.

Hence, if i made you rich, you pay me, i will make you even richer over the long-run. We can discuss the commission when you take me seriously.

This is just an idea, since many people are kinda lazy, I have some free time everyday to filter and pitch to you ideas. You decide to take action or not. Instead of you wasting time, im here to waste time for myself.

Thanks for reading this kid's post, hope all the sifus or anyone can give feedback! Your time is appreciated. notworthy.gif
mini orchard
post Apr 7 2021, 06:38 AM

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You wanna be another 'property guru'?

Paper knowledge is far apart from actual experience in the property industry.
SUSxander83
post Apr 7 2021, 06:48 AM

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QUOTE(mini orchard @ Apr 7 2021, 06:38 AM)
You wanna be another 'property guru'?

Paper knowledge is far apart from actual experience in the property industry.
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Wholly agreed

Unless ts can shown a proven track record then it is different story

Without it anyone can put out fact so and figure without any results it will be useless a buying junk property
DragonReine
post Apr 7 2021, 09:42 AM

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Sorry to say, but you're not the first to think of this idea, since it's basically how "property gurus" run their business.

Additionally, data you collect online is not transparent and usually not indicative of true transaction value. Unless you're already in the business, you won't know the true amount.

Most importantly, since you're in effect influencing people's investment money that goes into hundreds of thousands, are you prepared to face the music from dissatisfied customers if the investment turns out badly? There's a reason why investment advisors in Malaysia are supposed to have a license before they can generate income from giving investment advice. When you're in the business of advising people how to make money, you cannot do it lightly or casually. Your RMxxx slideshow can cost someone RMxxxk of savings going down the drain. Especially when you're dealing with high net worth customers, they can make life hell for you if they have enough money and influence to do so.

If you wish to actually learn to market property that way, you're better off actually studying and getting license to work as a real estate negotiator, then revisit your idea after a few years.

There is many ways to earn side income with minimal qualifications or experience; trying to market property is not one of them.

Personally I'd advise you as a student to take a part time job in service industry. The soft skills you learn with handling people and customers will help you in the future, no matter what career you decide to go after. You'll learn time management, salary negotiation, and how to deal with crappy people laugh.gif

Good luck.

This post has been edited by DragonReine: Apr 7 2021, 09:47 AM
TSpeerlessmonarch P
post Apr 7 2021, 06:19 PM

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Thanks for the response everyone!

So, basically right now what i can do is do some part time during sem breaks or easy semester and build my resume and cv.

It seems like i cant invest with no income for property...

My plan is to work and save for 4-5 years and resume scouting properties then. I also try to have about 5-8k income by then hopefully, idk about salary expectation for an actuarial graduate.

Many elders advice take it slow as im still young haha XD

But, inflation and everything, damn sad...

Meanwhile, also maybe improve my coding skills on my free time bah...
digitalz
post Apr 8 2021, 09:24 AM

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QUOTE(peerlessmonarch @ Apr 7 2021, 06:19 PM)
Thanks for the response everyone!

So, basically right now what i can do is do some part time during sem breaks or easy semester and build my resume and cv.

It seems like i cant invest with no income for property...

My plan is to work and save for 4-5 years and resume scouting properties then. I also try to have about 5-8k income by then hopefully, idk about salary expectation for an actuarial graduate.

Many elders advice take it slow as im still young haha XD

But, inflation and everything, damn sad...

Meanwhile, also maybe improve my coding skills on my free time bah...
*
Don't always think that property can make you rich. There are a lot of failed investments around. It's just that those gurus won't tell you those since they are not the ones failing.
DragonReine
post Apr 8 2021, 11:20 AM

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QUOTE(peerlessmonarch @ Apr 7 2021, 06:19 PM)
Thanks for the response everyone!

So, basically right now what i can do is do some part time during sem breaks or easy semester and build my resume and cv.

It seems like i cant invest with no income for property...

My plan is to work and save for 4-5 years and resume scouting properties then. I also try to have about 5-8k income by then hopefully, idk about salary expectation for an actuarial graduate.

Many elders advice take it slow as im still young haha XD

But, inflation and everything, damn sad...

Meanwhile, also maybe improve my coding skills on my free time bah...
*
Direct property investment especially buying residential property for resale or rental is actually very hit and miss. There are more failures to profit then there are those that genuinely profit in nett ringgit once you take into account maintenance and bank interest.

to put it in perspective, a RM350k loan at 3% p.a. for 30 years of repayment will incur around RM200k of interest over the full repayment, and that's assuming interest rate stays stagnant. You'd save interest if you sell/pay off early, of course, but how many areas out there will appreciate at least RM200k in value within 15 years? it's a massive commitment with little gain. On surface level it looks nice to boast about how subsale price increase several hundred K, but it doesn't really account for hidden costs.

in actual fact property is more for wealth holding/preservation than wealth building

if you really want to profit from property, invest in REITs laugh.gif
digitalz
post Apr 8 2021, 12:14 PM

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QUOTE(DragonReine @ Apr 8 2021, 11:20 AM)
Direct property investment especially buying residential property for resale or rental is actually very hit and miss. There are more failures to profit then there are those that genuinely profit in nett ringgit once you take into account maintenance and bank interest.

to put it in perspective, a RM350k loan at 3% p.a. for 30 years of repayment will incur around RM200k of interest over the full repayment, and that's assuming interest rate stays stagnant. You'd save interest if you sell/pay off early, of course, but how many areas out there will appreciate at least RM200k in value within 15 years? it's a massive commitment with little gain. On surface level it looks nice to boast about how subsale price increase several hundred K, but it doesn't really account for hidden costs.

in actual fact property is more for wealth holding/preservation than wealth building

if you really want to profit from property, invest in REITs laugh.gif
*
To add more to it, that is only on loan. Not including expenses on renovation (furniture etc), wear & tear, maintenance/sinking funds and other types of payments.

If owner rents it out, it can cover some here and there but when its not rented out, owner has to bear all sorts of payments + instalments.
smartinvestor01
post Apr 17 2021, 06:43 PM

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QUOTE(mini orchard @ Apr 7 2021, 06:38 AM)
You wanna be another 'property guru'?

Paper knowledge is far apart from actual experience in the property industry.
*
Yes, i very much agreed on this statement.

Its not as easy as it looks.
CSW1990
post May 2 2021, 08:56 PM

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my suggestion is TS can try to start from property agent first and build your team and resource.. after that maybe find a good property guru to join if you want to go further.
nowadays fighting alone is not easy to success.. you need a team and resource
forever1979
post May 6 2021, 08:01 AM

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i like the statement 'If i make you rich, you pay me, i will make you even richer over the long-run

btw, in malaysia, nobody can take commission from sale of property unless your are a registered REN, REA etc.

Maybe you should go to built up the foundation like to study and get the relevant license first.
kelvinfixx
post May 6 2021, 08:06 AM

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You need to have some prove la, not just talk only like most of the youtuber. summore your idea is nothing to be honest.

 

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