1) Understand Your Area Well
It’s always the best advice to start invest property in areas you are familiar with, especially for beginner investor and first time home buyer. Study the areas for 3 to 6 months and talk to real estate agents, owners and people on the street. By doing so, it helps you to be familiar with the market prices.
Take a closer look by driving to actual location and look at environments; create your own Property Survey Tracking form, which may include few things as below:
- Overall condition of buildings
- Quality of businesses in area
- Quality/condition of cars in area
- Overall visual impression/interest
- … and etc
2) Identify Your Property Hotspots
Expert property investors always prefer famous property hotspots such as Bangsar, Bandar Utama, TTDI, Mon’t Kiara, and KLCC area. Each location has its own characters and functions, which may be only good investment for either buy to flip, buy to rent or buy to hold. Therefore, design your personal investment strategy portfolio and identify the best property hot spots that suit your plans the most.
3) Determine Your Best Timing
The best time to buy is during the property market is on an uptrend, especially before the ending of the best financial package offers in town like SP Setia 5/95 Home Loan (low down payment / low entry cost), Sime Darby BLR-2.4% (low home loan interest rates), OSK Property’s “Home Free Plus” Scheme to enjoy 18 months free stay and etc.
Besides, it’s important to determine your best timing to sell property as well. Bear in mind, don’t ever expect for the highest selling price, as long as it meets your targeted ROI, don’t be greedy, you should sell the house then.
4) Recognize Your Area Indicators
For indicators of good location for rental property, look at Light Rail Transit (LRT) maps. Any property that located within 20 minutes walking distance from LRT stations would be good, especially for those working in KL without transport and people who are not prefer to be trapped in traffic jam daily.
Industrial areas, colleges and universities would be good neighborhoods to invest in as well for passive rental income. Here are some good location examples like: Western Digital located at SS8 Sungai Way Pj, Tunku Abdul Rahman College, University of Malaya and etc.
5) Use the Same Group of People
Be a smart investor, spend your money wisely to get discounted price and save on costs by using back the same property agent to buy and sell properties, same lawyer to in charge your sale and purchase agreement, same contractor for renovation.
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Good sharing
enjoy reading ur post