Jalan-jalan tgk rumah......(tips!!!)

As the title goes, I'm going for short trip after work today to Shah Alam to survey some properties with a friend. It's been awhile since I last do such a thing but I guess, it's always nice to do something that you've done before. Heheheh

Anyhoos....since we are on the look out for properties, what are the important points or tips that we should look before investing?

Rule No 1: Location
Rule No 2: Location
Rule No 3: Location
Extra tips: (schools/college/public transportations/shops/factory)

Easy kan? Hahahaha

Rule No 4: Buy at low price (must make money/profit!!)
Never buy at full price. MUST BUY AT BELOW MARKET VALUE. If you can't, then the maximum price that you pay is the market value....period...

Rule No 5: Borrowing
Please ensure that you're not over borrowing. The result can be really damaging.
Over-borrowing can occur when i) you buy a property at a very high price....ii) you buy too much property within such a short period of time ...iii) you don't have enough cash...

Extra tips: Take as much loans as you can, but please remember those loans are easily managed i.e. pay your monthly commitments comfortably..and...you shouldn't be too eager to buy more properties in such a short period of time. Leave some buffer times so that your bank account looks healthy...hehehe


What if I wanna buy a property via auction. What are the points that I should look into?

Hrmm....More or less the same points like above but with some additional points

1) Get the Proclaimation of Sale from the AUctioners
2) Get the details of the property and make several calls to the maintenance office and ask them some general questions about the property. It wud be wise to even ask them to print you the total outstanding maintenance fee so that you'll have an idea how much you gotta spend if you win the bid
3) Visit to the actual property. Look around the area. Talk to people at the area about the place, the rent, the security, bla bla bla...
4) Even though you can't get in to the property, by looking at it, hopefully you can have a general idea on how much you have to spend for repairs.
5) Next, you need to be able to calculate the maximum bidding price that you wanna bid. For example,the market value for a flat in Bndr Tasik Puteri is about RM80k (i'm guessing here) and the reserve price usually starts at RM65k. So, make sure if you wanna bid, you maximum bidding price shouldn't be more then RM75k. You want to make money remember? You buy only at low price!!!

There you go...you're ready for the auction. I think, i've wrote about this a year ago...hehehe...nyway, that's basically all you gotta do before you go for an auction (based on my experience anyways....)

Have a nice day!!