Investing in properties is one of the many ways to produce passive income and you will even get rich through this investment. When we think about property investment, there could be many questions on our minds. When is the best time to invest? How much cash do we need? What’s the technique to successful property investment?
I’m privilege to have an interview with the owner of property soul and show it in my blog today. She’s a property fanatic who bought her first condominium unit for lease in 2002. In the next 4½ years, she built up a collection of five private properties. By 2008, its total value experienced more than doubled.
In 2010 and 2011, she sold four of the properties, recognizing a net revenue of 80 to 120 percent. Q: Reveal more about property soul and the facts about? 2. To switch ideas with fellow investors to accumulate wealth through properties. I am thankful that my blog has a regular group of followers now.
We also organize Meet the Blogger sessions for networking. Q: How and when do you get to think about property investment and what got you began? I come from an extremely humble history and I have dreamed of owning my own place from a very early age. Q: How could you advise a person, with zero experience, who would like to spend money on properties?
What will be the risks involved? 1. Don’t buy what everyone else is buying. 2. Don’t buy the actual ‘so-called experts’ recommend. 3. Don’t trust any get-rich-quick program. 4. Don’t believe in buying with little if any money down. 5. Don’t believe it is so easy to buy with crowdfunding. Because you can finish up keeping an overpriced property, a troubled property, a white elephant, or a negative collateral (when property value falls below the excellent loan). It can take years, years, or permanently to breakeven. The only formula to build up wealth through property investment is to ‘save before investing’, and ‘research before purchase’.
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Q: What exactly are the factors you look out for when you choose a property? Will there be any technique to be successful in property trading? 4. An excellent citizen or tenant profile. 1. Specialization: Concentrate on your advantages and build your priorities. 2. Teamwork: Build a strong team with your investment partner, property agent, home loan bank, conveyancing lawyer and accountant. 3. Analyses: Conduct your own research and analyses. 4. Back-up plan: Have a contingency plan and more than one leave strategy.
Q: Could you tell us what properties you have in your investment portfolio currently? Do you invest in overseas or Singapore properties more? Currently, I’ve sold all my properties in Singapore except the one I am residing in now. To make real money in virtually any investment, you have to go in early when things are cheap.
Make your money, exit early, and pass the risk to the excited latecomers who can’t wait to enter. The house has been researched by me market in a few abroad countries. 3. When I know more than the locals in that foreign property market. Q: I heard you have a new book entitled: “No B.S. Guide to Property Investment – Dirty Truths and Profitable Secrets to Building Wealth through Properties”.
Could you tell us more about this publication and what readers can expect from the book? Q: Lastly, what’s your view on the existing situation of the property market? Could it be a good time to get? If not, when would be a much better time to get? We’ve reached a turning point since 2013, though the media only begins to report it since 2014. It is not recommended to buy when the marketplace is on its way down.