Dear all,

I'd like to hear from you all on the following issues below (highlighted in red): (Nothing to do with Trump, just borrowed it as a subject title)

Forgive me if I'm wrong - but too often is time spent on the micro aspects of property investment, such as - this area good ah? Mgmt ok boh? Tenant demand there? Amenities good? Any public transport? What yield ah?

Whilst all those questions above are important in selecting our target areas - many of us forget about the psychology of property investing.....If we find our dream location - what makes us so sure we'll get it at the price we want? How sure are we that we'll get it on our terms? Let's discuss the following:-

1. How do we find bargains. (at least 20% below market value)

2. How do we close the deal at the price we want.

For me, buying with instant equity is extremely important. In other words, I do not count on future appreciation. To me, appreciation is an ancillary benefit of ownership. e.g. if property value is worth 200K today, I'll have to get it at 160K.

I'll go first. Most of the stuff I know i get through books or through old wise men.....so forgive me if it sounds to primitive to you all.

1. To find bargains - I network extensively with lawyers and bankers.....They tend to know more motivated sellers. I just let them know my intention and that I’m an investor. Sometimes, they do recommend me a case or two.

2. When I make offers to sellers that are not too motivated, I’d print out my own offer letter directly to the vendor with my terms and offer price on it. I’d then staple a cheque of 3% (earnest deposit) in the same letter as well. This method has been quite effective for me.

30% of the time – sellers will accept my price on the spot. You’d be surprised at the immense psychological advantage the sight of money brings. The other 70% of the sellers would not accept my initial offer – but they’d see my sincerity and would mostly deal exclusively with me thereafter. This also allows them to be “friendlier” with me and tends to make them more flexible in their pricing.

Above just my own personal style. Don't be too harsh.

Now, let’s hear from all the experienced property investors here pls. I'm also curious to learn.

This post has been edited by Phoeni_142: Jan 10 2009, 02:25 PM

Hm.... Donald Trump? he bought up lots of cheap companies. He went bankrupt once and was bailed out by his creditors. In this country you don't get a second chance, if you've ever been a bankrupt you are bad news (you can't start another company.) That's why people are ultra-con here, easier to work for a living here because a company bankruptcy will not affect your credit standing.

This post has been edited by wodenus: Jan 10 2009, 09:33 PM

Would love to learn and know more...

Any other investor wouldn't mind sharing a few tricks n tips?

Come on guys.

I would like to think some of us have invested in properties before.

Not all of us just buy under con properties from the developer and stick to their launching price/

I would also like to think that some of us buy completed properties and hunt for bargains.

Could the "3 stars and above" share their wisdom and experience pls? It doesn't have to be a specific method / strategy per se....just relate a positive experience when u know u have obtained the property at a good price / bargain.

This post has been edited by Phoeni_142: Jan 11 2009, 03:00 PM

i am estate agent. Bought a SSL in TBR, setapak 30k below valuation from my client. My advice know more agents hehe