With so many available schemes out there such as SRP, PPA1M in Putrajaya and so on, owning a house is no longer a dream. In addition, there are many real estates in Malaysia for the nation to choose from. Hence, it is important to do your homework and research thoroughly before you decide on making such huge investment. This article will guide you through the traits of a wise property investor.
1. Financially creativeFirst of all, you need to know that money is first needed to make more money. You will need to have adequate amount of seed capital to property investment. For example, a property with a selling price of RM400,000 will have a 10% down payment of RM40,000 if you manage to secure a 90% bank loan. In addition, there is also an additional of RM20,000 of processing fees and charges. That being said, the homebuyer will need to fork out approximately RN60,000 cash as the initial payment. Therefore, you should start looking out for credit card that offers a zero interest payment plan. 2. Make friends with people that share the same interest Making friends with the like minded people is important if you want to be in the property investment market. One of the fastest and most effective ways to learn more about property investment is to attend various property workshops and forums organized. By attending such property workshops and forums, you get to meet like minded people and you get to ask for advices and learn some investment strategies. This is also a great way to exchange ideas and keep yourself updated with the real estate market in Malaysia. Moreover, it is also beneficial to newbies who have just started on their property investment journeys as they get to expand their networks to learn more things related to property investments. Most importantly, these workshops and forums get you updated with all the happenings and news in the property market. 3. Be involved in your investments Last but not least, you will need to be hands on with your property investments. You will need to be involved to know what you are doing. Whether you are planning to earn a profit from reselling your property or from the rental yield, it is always advised to be involved in your investments. Pretty sure you have heard many people commenting that location is important when it comes to buying a property for investment purpose. Having some foresight or knowledge will help you in making the right decision when it comes to property investment. Other than that, you will also need to know the local vacancy rate in Malaysia. This is one of the most expensive expenses that an investor faces. Knowing the average rental rates in the area could help you to minimize vacancy as you are able to adjust your rental rate accordingly. In conclusion, being a property investor in Malaysia involves a lot of preparation, research, studying, and networking. Only educated decisions will bring you far and make you a wise property investor.
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