The trick is to do your house job before you start investing. What does this mean? It means that you do not ask your mother or father or friends about property investing if they have never invested in property themselves. It would be like being coached in Tennis by someone who has never played Tennis – you wouldn’t do it. You would check out the credentials and qualifications of that individual, meet them and decide whether you want to do business with that person or people and then you would part with your money. To become a more intelligent real estate investor in Singapore, you need to meet other real estate investors. This means going along to real estate investment clubs, property conventions, landlord associations and the like.
Most good real estate investors know where to look for good deals and good properties. If you are not familiar with the area that you’re looking in, make sure that you get the knowledge, speak to other real estate investors, check the local census, and invest some time to understand the market analysis for the area. Without a knowledge of the local area, you cannot know what property deals are going to be good deals, and which ones are going to be bad. Certain local areas are going to be better investment choices than others.
Some of them survived. Most of the worst hit were new entrants who could not make calculated judgments.
Though the lack of experience was the main cause, it can also say that some advice and real estate education could have helped these investors salvage much of their investment. Real estate investing in Singapore can be learned from self-attempts, or you can go the easier way by seeking it from a mentor.
Skillful investing is about the future. An expert investor would buy a property today and sell it on the day when the value of the property is close to the peak or the peak itself. Since real estate prices always go up, albeit when there are economic disturbances, it is important to time your sales.
Therefore haste can cut your profits. You should give yourself time to weigh the offers and seal the deal. Many experts would tell how they rushed into deals when they were inexperienced and sold properties that could have more than doubled in worth.
That said and given that prices are always increasing, how you know when to sell? Making this choice involves a time frame. If you were to work for eternity, then time doesn’t matter. Therefore you have to have a time frame within which you decide to make the sale. I’m personally about to sell my current house to get a unit at martin modern condo, love district 9 and all it has to offer.
Take a cue from the surrounding areas and also find out what the experts around you are doing. Once you do that, simply follow the trend. But if you are not hard strapped for cash and there is a gut feeling that this will fetch more in the future then don’t sell it.
Without negotiation, you’re going to pay too much for your investment property and will reap no rewards. The terminology that many real estate investors use is another item that you will need to understand. Vocabulary and the actual terminology needs to be understood to understand earnest money agreements, interest, down payments, conditions of sale, and other real estate terms. If negotiation is not one of your strong points, then make it a strong point. If you do not or cannot, you will always end up with a worse deal for yourself.