Category Archives for "Real Estate"

5 Best Renovations That Add Value To Your Home

So what kind of renovations should you do to get the best bang out of your buck? Here are the top 5 renos you can consider:


1. The Kitchen

Kitchen renovations are one of the most profitable renovations you can do with an estimated ROI between 60-120%. Don’t go over the top, keep longevity and potential buyers in mind when you’re making your renovation plans.

Look for areas in the kitchen that you can either replace or do some touching up. It could be adding a backsplash, restoring cabinets, doing up your floors or replacing counter tops, tiles and fixtures.


2. Master Bathroom

Your bathroom renovation doesn’t have to be expensive, you just need to aim for it to come out looking modern and functional. Most contractors would recommend renovating the shower area first – build in a frameless glass stall or reglaze the good ol’ tub to make it look brand spanking new.

Other add-ons that can add value are space saving cabinets, a walk-in wardrobe and creating an en-suite bathroom if the master bedroom hasn’t got one yet. Replacing your fixtures is something you can DIY instead of hiring a handyman.

front door

3. The Front Of House

About 90% of buyers would make a decision if they’re interested based on first impressions – the outside of your house. Refresh tired looking doors with a new coat of paint or finish and do a bit of landscaping for the front garden to make your property more attractive. If you’re thinking of adding some plants to your entrance or garden, ask your landscape designer or nursery on the best planting variety for your soil and based on your availability to maintain them.


4. All Your Walls

Cracked walls and peeled paint could put buyers off, or just leave them unimpressed. Repainting and restoring your walls is a quick way to make your house look new without any major renovation work provided that it’s done properly.

Fill in small gaps and as your renovation contractor to fix damaged parts. It’s a safe step to leave your walls bleach-white, but following a neutral colour palette can also increase your home’s saleability – colours like beige, white, black and grey appeal very much to buyers with a modern taste.

An electrician binding copper wires together and sealing them with insulation stripe.

5. Electrical Wiring & Plumbing

These are one of the most common requests made by home buyers. Nobody wants to move in and then find out that the lights are flickering and the water isn’t flowing well into the toilet. Do a thorough check in your house for electrical wirings and plumbing that are outdated or faulty.

Source: PropSocial

Consider if there are enough power outlets for all the rooms in the house including the ones for air conditioning.

For more information about Property Investment, please visit 👉 Property Millionaire Intensive

Rent-To-own Concept To Enable PPRT Flat Occupants To Become Property Owners

Rent to buy is a new concept of buying a house. It still a new method in Malaysia.

The Urban Wellbeing, Housing and Local Government Ministry will introduce the rent-to-own concept to enable low income earners to become property owners under the Hardcore Poor Housing Project (PPRT).

Minister Tan Sri Noh Omar, however, said the introduction of the concept, however, would take place only after getting the Cabinet’s approval.

invest money

“We proposed the concept to enable individuals earning RM2,500 or less to own their PPRT units after their loan applications were rejected due to not fulfilling bank conditions, being blacklisted or not having proper payslip to prove their financial standing.

“Maybe we can create a mechanism so that they can pay a monthly (rent)payment of RM200 within a stipulated period and once they complete the payment, they will get full ownership of their units,” he told reporters after attending the ministry’s Aidilfitri Open House here Sunday.

Meanwhile, Noh said the ministry had set aside an allocation of RM500,000 to repair the lift service at Desa Mentari low cost flats in Petaling Jaya.

“I’m so sad to learn about lift malfunctions at the 16-storey flats…I hope the allocation will be used wisely to ease the burden of the residents,” he added.

Article Source: DurianProperty

Learn this method to save money for buy new house instead rent to buy.

For more information about Property Investment, please visit 👉 Property Millionaire Intensive

Malaysian market surprisingly resilient after Brexit

The trend or the property market in Malaysia are slowing again.

KUALA LUMPUR: Markets in developing Asia have proven surprisingly resilient a month after Brexit.

A report in the Financial Times said policymakers had been appropriately cautious over the past few weeks in the face of a series of unexpected political shocks, from Brexit to the Turkish coup attempt to a series of terror attacks in Europe.


However, in Malaysia, the FT report said, the local bond market had shaken off not only global events but also local problems, including the fact that US and Singapore regulators were taking action over fraud claims connected to 1Malaysia Development Berhad, backed by Prime Minister Najib Razak.

So far, it said, the search for yield had trumped political risk.

It said government officials, who had been worried both about the prospects for exports amid downgraded global growth forecasts and domestic demand, should be pleased.

They were pleased with Bank Negara Malaysia’s rate cut earlier this month but want further pre-emptive support to ensure stable growth momentum.

Some of the central bank’s staff think this unnecessary, since the economy looks on track to hit the official growth estimate of 4-4.5 per cent for this year.

Najib’s ability to shake off his critics so far is rooted in a strong economy and in keeping unemployment down, so the government will keep pushing for further rate cuts and this is likely to prevail before the end of the year, the FT report predicted.

In Indonesia, the central bank signalled that further interest rate cuts were possible after it held steady last Thursday, but noted that market rates have been responding to the 100 basis points worth of easing already undertaken this year.


The report said the recent tax amnesty bill had helped improve investor sentiment.

Article Source: DurianProperty

Property Investor may take this this opportunity to do some investment.

For more information about Property Investment, please visit 👉 Property Millionaire Intensive

9 Tips For Buying Your First Home

Below are the 9 tips for buying your first home:


1. Have enough money.

You can either get help from family (which is not advisable) or apply for a bank loan. Spend wisely and cut down on unnecessary expenditure.

2. Mortgage should not be more than 30% of your monthly income.

It is best to keep your mortgage lower than 30% of your monthly income, so that you will have enough cash for the rest of the expenditure that comes with a house. Also, you have a life to live!

3. Do not buy a suburban house with an aim to save cost.

If you are working in the city, a suburban house is a terrible choice. Imagine the hours spent on commuting to and fro to your workplace, energy wasted, traffic congestions, toll charges and petrol fees, it’s really not worth it in the long run.

4. Convenient facilities

One of the main factors to consider before purchasing your house is to ensure that the environment and facilities available suit your needs. Amenities such as convenient store, mall, restaurants, bank, kindergarten, school, clinic, hospital and post office are a must.

5. Neighbors.

It is best to form good relations with your neighbors as they are the ones closest to you. If possible, try convincing your family members and friends to buy houses that are in the same area as you.

6. Value of the house.

Even if you do intend to live in the house rather than renting it out, buy a house that guarantees a rise in value in the future.

7. School.

It is best to invest in a house that has schools around. Although it might not be necessary at the time of purchase, but it will be too late when you realize schools are too far away when you need it.

growth investor

8. Do not overspend.

Although investment is costly, it is wise to bargain for the best price and buy the house that suits your needs rather than an expensive house.

9. Security.

Ensure that the housing area is fully fenced and there are security guards patrolling consistently.

Article Source: DurianProperty

Follow the tips as a guideline to prevent mistake when buy home.

For more information about Property Investment, please visit 👉 Property Millionaire Intensive

Household debt – can we be at 54%?

Being a teenager, my grand-daughter started to pick up interest on how the economy works, what are the real assets and liabilities in one’s financial planning. As the topic itself can be slightly “dry”, I made an attempt to discuss it in a way that was easier for her to digest.

“Our national household debt to GDP ratio edged up to 87.9% last year. Is the number alarming?” she asked one day.

“It depends. We have good debts and bad debts in life. For example, 10 years later, our new cars may have depreciated more than 80% and our new clothes would have been worn out. Those are liabilities. On the other hand, houses are assets as they will appreciate in the long run. Debts which are backed by appreciating assets are considered good debts,” I said.

As she nodded in agreement with my simple explanation of good debts and bad debts, her question has piqued my curiosity to look into the details of our household debt.

Overall is our nation having more good debts or bad debts?

A Bank Negara report shows that our household debt was at RM940.4 billion or 87.9% of GDP as at the end of 2014.

Residential housing loans accounted for 45.7% (RM429.7 billion) of total debts, hire purchase at 16.6%, personal financing stood at 15.7%, non-residential loans were 7.7%, securities at 6.5%, followed by credit cards and other items at 3.9% respectively.

At first glance, our residential housing loans were the highest among all types of household debts.

However, a recent McKinsey Global Institute Report highlighted that in advanced countries, mortgages or housing loans comprise 74% of total household debt on average.

As a country that aspires to be a developed nation by 2020, our housing loans that stand at 45.7% is considered low. In other words, we are spending too much on other depreciating items instead of appreciating assets like houses.

If advanced economies, which are usually consumer nations, have only 26% debts on non-housing loans, we should not have as high as 54% loans on items such as hire-purchase (which are mostly cars), personal loans, credit cards and others.

If we were to follow the household debt ratio of advanced economies, our housing loans of RM429.7 billion should be at 74% of total household debts, and other loans should be reduced from 54% to 26%, i.e. from RM510.7 billion to RM150.9 billion.

With such reduction, total household debt would be slashed significantly from RM940.4 billion to RM580.6 billion (existing housing loans plus reduced non-housing loans), the amount would be at 54.2% of GDP instead of 87.9%.

I am wondering why we can’t have a household debt to GDP ratio of 54.2% as illustrated above. Are we spending too much on depreciating items?

Non-housing loans comprise mainly borrowings for cars, personal loans and credit cards. Car value depreciates about 10% to 20% per year based on insurance calculation and accounting practice.

Borrowings for personal loans and credit card are also likely to depreciate over time which can be dubbed as “bad debt”.

Perhaps it is time for the Government to introduce massive cooling off measures for non-housing loans in order to curb bad debt in our household debt.

According to our Deputy Urban Wellbeing, Housing and Local Government Minister, our homeownership rate currently stands at 50% and the Government strives to increase the number with more affordable homes. As a comparison, almost 85% of Singaporeans are homeowners.

We can expedite the above vision if more stringent measures are imposed on non-housing loans, it will free up more resources for household financial planning. The rakyat should be encouraged to secure a roof over their heads with effective execution of affordable housing policy by the Government.

It is time to re-look our debt categories and reallocate our resources appropriately. If we are willing to cut back on cars, clothes, shoes and other depreciating items, reducing a household debt to GDP ratio of 54.2% is not only an aspiration, but an achievable reality.

And the more beneficial effect is, more rakyat will have the financial resources to own a house, which is both a shelter and an appreciating asset.

Article Source: PTLM

For more information about Property Investment, please visit 👉 Property Millionaire Intensive

All About Penang Properties in ONE Website


Started in 2010 with only one objective – To provide quality, accurate and up-to-date information to any readers who are keen on property news and new projects in Penang.

After 6 years, Penang Property Talk is no longer only a blog but also one of the most popular property news portal in Penang which has registered more than 1.6 million visits in 2015 with visitors from over 180 countries.

Penang Property Talk has attracted hundreds of thousands followers and is now a dose of daily property news for many home buyers, developers, real estate agencies, investors, researchers, contractors and other property industrial players.

A picture is worth a thousand words, a video is worth a million pictures. Our next mission is to continue providing more updates, not only in photos and text, but also via video.

Article Source: PenangPropertyTalk

This forum has give me more knowledge.

For more information about Property Investment, please visit 👉 Property Millionaire Intensive

Homestays, a booming business

Residential properties are meant for people to live in.

Thousands of homeowners have discovered how to make money with their properties and avoid paying taxes.

They have joined global home-sharing marketplaces, and just like how Uber has made life for government-regulated taxi drivers difficult, the home-sharing phenomenon is shaving off hotel revenues.

By paying a mere 3% service fee per booking, homeowners – also called hosts – can connect with over 60 million travellers worldwide through online giants like American company Airbnb and Singapore-based HomeAway.

Airbnb’s website has a tool to help homeowners gauge their expected weekly income and according to this, the country’s chart-toppers are those in Langkawi who can make RM2,801 a week, followed by those around Malacca’s Jonker Walk (RM2,495 a week).

Close behind are Penang home-shares in Tanjung Tokong (RM2,494) and Pulau Tikus (RM2,449). In Bukit Bintang in Kuala Lumpur, they can expect to earn RM1,676 weekly, while those near Taman Pelangi in Johor Baru can expect RM2,287 a week.

The above estimated earnings are for apartments or houses catering to groups of five travellers.

There are homeshares even in the hinterlands. They can make an average of RM923 a week in Kota Baru, Kelantan. In Kangar, Perlis, homeshares can expect to collect RM1,619 a week.

Unlike hotel occupancies, the government has no knowledge nor way of tracking these check-ins.

All the payments are transacted via the home-sharing portals’ overseas payment gateways and the earnings are transferred to homeowners through international money wires, PayPal or direct deposits.

Their guests are also “exempted” from the RM2 per room per night heritage tax fee in Malacca and Penang’s local government fee of RM3 per room per night for four-star and five-star hotels, and RM2 per room per night for three stars and below.


“They don’t have to pay corporate or income taxes. They don’t need to collect GST or report their occupancy rates.

“They don’t need to install fire doors or water sprinkler systems. If this goes on, budget hotels can just take down their signboards and become home-share operators,” said Malaysia Budget Hotels Association president P.K. Leong.

He said his association had raised the issue of home-sharing with the government several times and urged them to regulate this business but no action had been taken.

“We estimate about 15% of our business is being siphoned into the home-sharing market. And it’s not really sharing,” he said.

“People are buying residential properties specifically to start short-term rental businesses. We believe this is growing at an alarming rate but we don’t have any way to track them.”

In 2014, Airbnb was reported to have over 800,000 listings worldwide. Now, the company declares on its website that it has over two million.

Five-star resorts contacted, however, do not feel threatened by the home-sharing operators.

Managers in two five-star hotels, who declined to be named, said these setups target budget travellers who come to Penang on business or already know what to do when they come to Penang.

“Our hotel offers a level of service not found in home-shares. It’s a different market,” said one manager.

Article Source: PenangPropertyTalk
Exceptions should only be allowed for people who are providing genuine ‘homestay’ programs and renting out owner occupied homes.

For more information about Property Investment, please visit 👉 Property Millionaire Intensive

Not all apartments are the same

It is a good idea to find out the legalities, whether these developments are regulated under the housing legislations.

wealth conference 2016

wealth conference 2016

The names are coined by housing developers with creative plans to woo investors with enticing marketing tools on yet-to- be-built stratified properties.

Where people used to buy an apartment unit/parcel for a roof over their heads, of late, so many other styles have crept up to boggle the minds of investors and buyers.

However, for the uninitiated – not all apartments are created equal. Although the sales and marketing brochures may look alike, the small prints will tell you the difference, if you care to take a magnifying glass to inspect.

Then again, for the first-timers, they are unlikely to spot the difference. This article aims to shed some light for those who have yet to decide on the various offers of apartment projects and for those who have suffered the fate of having bought into a problem.

It is a good idea to find out the legalities, whether these developments are regulated under the housing legislations.

How many of us have based our decision to buy a home on colourful brochures and enticing lifestyle illustrations? Many prospective house buyers usually have little knowledge of what aspects to look for when acquiring a home.

The construction of a housing project involves numerous parties and legislations, and when problems arise, help in any form is often time consuming and costly. The onus is on prospective house buyers to be educated on their rights and to seek help from all sources available before they make their first payment.

It is important that buyers know their rights and how to use them. The Housing Development (Control & Licensing) Act 1966 (amended 2012) (‘Housing Act’) controls the development of “housing accommodation”; “housing accommodation”; may not be the same as what you think you are buying. Purchasers of service apartments and Soho are often surprised when told they have bought a commercial property.

The statutory sale and purchase agreement (S&P) is schedule H (building or land intended for subdivision into parcels) and schedule I (built then sell 10:90 concept for stratified property) pursuant to the housing development (control and licensing) regulations 1989 (amended 2015).

Under the statutory S&P, some of the pertinent clauses for the protection of house buyers are the following:


Date of commencement and completion – Generally, the date of the S&P is the date the contract takes place and is binding upon both the covenanting parties – the developer and buyer. It is scheduled to be completed within 36 months from the date of the contract.

It is a pre-requisite that all building plans, lay-out plans and all the approvals from the local council must be obtained before a housing developer is able to obtain the APDL (advertisement and sales) permit and developer’s licence.

Compensation for late delivery commonly known as LAD (liquidated ascertained damages) – is calculated at the rate of 10% of the purchase price should the developer exceed the stipulated period of 36 months.

Manner of delivery of vacant possession – Delivery of vacant possession shall be supported by a certificate of completion and compliance (CCC) and includes the handing over of keys of the parcel to the buyer. Water and electricity supply are ready for connection to the said parcel.

Defect liability period – The developer is mandatorily required to warrant against defect, shrinkage or other faults in the parcel, building and the common property that may become apparent within 24 months after the date the purchaser takes vacant possession.

Stakeholders’ money – The retention sum against repairs and replacement is 5% of the purchase price and is kept by the developer’s appointed lawyer stakeholder and to be released in two tranches.

Schedule of payment of purchase price – Every stage of the works completed must be supported by a certificate signed by the developer’s architect or engineer in charge of the housing development and such certificate so signed shall be proof of the completion of the various stages of progress works.

Tribunal for home buyers claim – The Parliament has created the housing tribunal as an alternative platform for house buyers to seek legal redress. It is an easy, cheap and speedy alternative forum. Since it was to be a tribunal or “court” for the ordinary house buyers, numerous measures were taken to ensure that it was user-friendly and affordable, including a cap on filing fee at a nominal sum of RM10, and keeping lawyers out.

These non-standard S&P agreement are drafted under the whims and fancies of those developer with their lawyers. Efforts are not spared to ensure that they are disguised with bold titles appearing to emulate the statutory S&P but with diverse terms and conditions embedded otherwise.

It is not uncommon to find buyers stressed out and frustrated after having identified the differences between the standard and non-standard S&P agreement. By that time, the relationship between the developer and the affected buyer would have been strained and stained.

wealth conference 2016

wealth conference 2016

Date of commencement and completion – At the time of sale and the date of the S&P the developer often has not obtain the necessary approvals – be it building plans, floor plans or the likes. Their completion date is what is stated in the S&P – often between 42 and 48 months from the date the “building plans” approval is obtained or date developers under this category are not licensed (thus, not under the purview and jurisdiction of the Housing Ministry) because they are not building “housing accommodation”. There is neither any requirement for an APDL nor need to comply with the Housing Act. Those built on commercial titles will have to bear commercial rates of assessment, quit rent, utility charges (electricity and water tariffs). There are instances of housing developer constructing Soho that has been granted exemption from the Housing Minister – thus, to be precluded from the ambit of the Housing Act: on the pretext that they are developing commercial development.

Compensation for late delivery commonly known as LAD – It is often calculated at the rate of 10% on such portion of the purchase price as the buyer may have paid to the developer where it exceed the stipulated period of 42 to 48 months, as the case maybe.

Manner of delivery of vacant possession – Delivery of vacant possession is often only supported by the developer’s architect’s certificate of practical completion not tantamount to CCC. It does not give the buyer the right to occupy the parcel until such time as the CCC is issued. Where there is no time frame to issue the CCC, it becomes meaningless and the buyer will not be able to plan his occupation. There is no provision for connection of water and electricity supply to the said parcel. It is sometimes at the peril and mercy of the utility provider.

Defect liability period – Here, the warranty against defect, shrinkage or other faults in the parcel is often 12 months after the date the purchaser takes vacant possession.

There is often no warranty on the building and common properties.

Stakeholders’ money – What retention sum? Often, there is none. All monies are released to the developer immediately upon date of notice of delivery of vacant possession, whether the buyer takes physically possession or not.

Schedule of payment of purchase price – normally all installments are released to the developer on the commencement of works; no need to be certified. For example, 15% of the purchase price is due to be paid to the developer when the developer commences earthworks at site.

He will conveniently have his tractor scoop up the earth and hence – commenced. He too will get another payment 15% on commencement of his first piling and footing works.

Most of these projects fail because they collect profit before completing the job. Their payment schedules are top heavy – meaning they collect the bulk at the beginning leaving less for the later stages of works.

Tribunal for home buyers claim – The tribunal is not available to the aggrieved buyers. Their legal recourse is through the courts and they will have to argue within the four corners of the S&P contract. They cannot say that they don’t know – as the maxim goes: “Ignorance of the law is no excuse’

Article Source: PenangPropertyTalk

In the cases of “unfriendly terms and conditions”: “Don’t buy”. The prerogative is the house buyers’ to safeguard themselves though all means.

For more information about Property Investment, please visit 👉 Property Millionaire Intensive

Financial Planning Insights Into Property Investment

At the time of purchase, those units were located in hot areas and were quickly snapped up for its rental yield.

wealth conference 2016

wealth conference 2016

With the current economic situation, some of them are facing tenants who delay payment or are unable to get new tenants when the existing one leaves. This leads to the situation where the secondary market and the property auction list starts to grow.

In fact, there is a growing list of Bandar Utama double-storey link houses up for sale. Once upon a time, the moment one is available, it is quickly snapped up and will rarely make it to the For Sale list.

The next challenge property investors face is the repair bill when a tenant leaves. You need to spruce up your place to attract new tenants.

Another major challenge is the tenant’s deposits that you hold on to. Nowadays, tenants will happily contra their deposit with their rental whether you like it or not. Chances are, after they have left, you will find areas that need repairs which the tenant conveniently forgot to inform you before leaving.

Another nightmare is the tenant who turns into a freeloader citing bad times for not paying their rent. You must get them out after the stipulated period in the contract to avoid potential sabotage from your angry freeloader. A model tenant is undeniably a blessing, but they are a rare breed.


Financial Planning Strategies of Property Investment

Many property experts out there would have shared with you where, when, how and which are the valued properties to invest in. To complement all these knowledge, the Financial Planning Association of Malaysia is providing insights from a personal financial planning angle.

This is a reflective piece in view of the above scenario being played out with each economic turbulence over the years. Here are some ideas on how you can invest in properties and survive during tough times.

First and foremost, property experts will continually stress on the importance of location, so this is a given. On the personal finance side, the investor must keep enough cash reserves to cover the installments in case you are unable to rent out your property.

This cash reserve should come from emergency money that you put aside, which should amount to 3-6 months of your expenses. Your emergency money must either be in the form of fixed deposit or a vehicle which is liquid. Tying up your emergency money in shares or an equity fund is not a good idea as, during economic turbulence, these may drop in price or it may be hard to dispose of to raise the cash you need.

When you are collecting rent, remember to set aside a portion of your rental, aka sinking fund, towards:

  • Repairs and repainting for when your tenant leaves
  • Advertisement for new tenant
  • Annual payments for quit rent, assessment and house owner insurance

This is a separate sum from the emergency money, which is to pay for instalment whilst you find another tenant or find a buyer to purchase your property.

Last but not least, for those who have been saving their money and think that this is an opportune time to pick up bargain properties, do a quick calculation of your income and expenses to make sure that you have enough savings to fall back on before you plonk your hard-earned money in an investment property.

hot tips

Having the down payment alone is not good enough, especially if you are solely responsible for all the finances and do not have a spouse or parent to fall back on for financial help should it arise. You must factor in the following cost of acquisition in terms of fees and payments:

  • Lawyer and agent’s fees
  • Bank loan agreement
  • Insurance premium
  • Renovation and furnishing
  • Stamp duty
  • Goods & Services Tax

Property valuation fee to determine your eligible loan amount by the bank

Source: PropertyInsight

Don’t stretch your purchase price now unless you want to be financially stretched later.

For more information about Property Investment, please visit 👉 Property Millionaire Intensive

Real Estate Investing for Beginners: A 10 Step Plan

Here is a ten step plan anyone can use to invest in real estate.

wealth conference 2016

wealth conference 2016


1. Find your market

(geographical area, location, close to your current address is preferred)

Finding your market means finding your target area, the geographical location, of where you want to purchase real estate. Ideally, it’s best if you purchase property within a 10-20km radius of your home. The closer you are to your investment property, whether it’s a house, mobile home, or vacant land, the better.

Choosing your market will be determined by the amount you can make, known as the Return On Investment (ROI), minus your expenses, when you sell or rent the property. And your ROI will be effected by a number of factors-current market values of the existing properties in this area, upcoming developments planned for the area, proximity to landmarks or bodies of water, crime rates for the area, employment opportunities for the area, and a lot more.

Visit the area at night. During the day, an area with a few abandoned houses or commercial buildings may appear like an opportunity. At night, however, these buildings may be a haven for criminal activity or a camp for homeless people. Talk to the people that live in the area to get a feel for what’s going on there.

2. Determine or choose your investment property type

What kind of real estate property would you like to invest in? Buying a house? Buying a mobile home? Buying land? Buying commercial property?

How would you like to buy the investment property? Buy it outright, or put the down payment on it in order to secure the mortgage? Securing the mortgage of an investment property allows you to save money while, also, getting control of the property.

Okay, you’re probably wondering “but I don’t have the money to buy the property, what about the money?” We’ll get to that.


3. Find five properties

Find five properties (houses, mobile homes, land, commercial properties) investment properties to purchase, rent for profit, or flip for profit.

Research. Study the area where you plan to purchase a property. How? Follow these steps.

1. Search online for “___________ ________ tax assessor” and “_______ _____ tax clerk” and “______ ______ property appraiser”. Fill in the blank with the county in which the property is located. Fill in the second blank with the state.

For example, if you’re searching for an investment property in Gilchrist County, Florida, search for “Gilchrist County, Florida tax assessor” or “Gilchrist County, Florida tax clerk” or “Gilchrist County, Florida property appraiser”.

Research the area. Find out what properties are selling for, how long they’ve been on the market, annual taxes, appraised values, etc.

Study the area. Determine the comparable market values of real estate. Become an expert and this will enable you to forecast, or predict, trends so you’ll understand where to buy and when to buy and where to sell and when to sell.

4. Develop your strategy. Lay out a plan.

* Buy and rent for profit?

* Buy, fix up, resell for profit – buy and flip? You make money when you buy! You can find a buyer before hand by using the internet classified ads and social and classified ads in local newspapers. Find out who’s willing to buy and what they are willing to pay before even making an offer on the property you want to buy.

* How are you going to find the money? We’re getting to that. Once you have an action plan or a plan-of-action, then finding the money becomes easier.

plan b

5. Establish a back-up plan.

Just what it says. Set up a plan in the event that everything goes wrong, in case of a situation in which everything goes south. Establish a contingency plan. You’ve made it this far, now make a backup plan. You can do it.

This-making a backup plan-will lessen any worries you have, enabling you to move forward, to take action, to make things happen. Action eliminates fear

6. Determine your exit strategy.

In order to know where you are going, first decide where you want to end up. What’s your end goal? How do you plan to exit this RE deal with a handsome profit, and with all parties (buyers, sellers, investors) satisfied and happy?

7. Present your plan to investor or investors.

Read over your notes and reduce everything to a simple plan of action. Then, write down this plan of action and reduce it to numbered steps… 1, 2, 3 and so on. Set the dates of when you’re going to do what. Make copies of this, both PDF copies and hard copies.

Get everything in writing, signed, in the presence of a notary public.


8. Execute your plan.

Take action. Action eliminates fear.

Start putting your plan into action by taking action.

Star Property

9. Get people competing to buy your property.

When selling or renting the investment property, gather a crowd by scheduling a specific time. If you want to rent or sell a property, set up a specific time frame in which to show the property, preferably on the weekend. Schedule an open house on Sunday, 2pm – 4pm, gather a big crowd. Get a mortgage broker at the place to, in order to set up mortgages for people who want the place.

10. Put your exit strategy into motion.

Collect rents. Sell the property. Keep records of everything (video, audio, paperwork, keep backup paperwork).

Article Source:
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