Believing In The Power of Properties To Generate Wealth
It is a given that around 80 per cent of the population tend to view property as being the nucleus of real wealth generation while the remaining 20 per cent may think otherwise. However, for investor next door Amy, the maxim certainly holds true.
“My first house was purchased with the intention for own use in 1993 when I was pregnant with my first child at a purchase price of RM165,000. After three years when it was completed, I tenanted it to my brother-in-law for rent until I sold the property in 2013 at RM298,000.
Relating how she started her journey into property investment, she recalls how in 2005 how she decided to join the real estate industry as a property agent when she saw the property sector growing rapidly.
“I connected with some investors as I witnessed and saw how much they managed to bring in from their property sales. In three-and-a-half years, based on my own experienced, I grasped the selling prices of properties and how to sell them. From there, I gained added confidence to the point of me starting myself on my investment journey with my first purchase investment purchase in 2011,” she recalls.
Sharing how this two-and-a-half storey terrace house measuring 22 ft x 75 ft named Oasis and located in Cheras, Kuala Lumpur was purchased at RM428,000 managed to reap in almost double the amount in three years to RM820,000 – her fruitful investment only spurred her to further invest in property investment.
The terance is a corner, gated and guarded (G&G) property with a generous garden.
Needless to say, the success of her lucky investment streak continued and snowballed into other purchases by means of her looking for other investment partnerships.
And today, she is the proud owner – having some 30 properties in hand.
“I have a company and employ people to handle the properties,” she says answering how she keeps track of so many properties at any one time – leaving the collection details as well as any issues with tenants, maintenance or even in having to deal with property investors.
Answering queries as to whether anyone coached her regarding the finer points of investing in properties or venturing into property purchase was her own initiative – she discloses how she read up on successful businessmen who are cash-rich to learn about the secret to their success.
“Before I ventured into the property line, I read about successful entrepreneurs who are rich and how they managed to grow their respective businesses and went into property investment. From here, I learned how they grew their wealth by means of investing in property which is good in the sense that after some time, one will be able to see the capital appreciation on one’s property,” she discloses further.
Sharing that if she had to do it all over again, she would still venture into property investment albeit operating it by being cautious as in studying any area she intends to invest in property well first as well as doing her relevant homework beforehand. She tends to avoid small areas especially those situated outstation and prefers locations nearby where she works and stays instead.
Currently working with Greenfield agency operating as a senior real estate negotiator, she opines that the property market of today is vastly different from that of yesteryears.
Sharing a tip on staying ahead of the real estate game, she says the trick is to employ different strategies via operating on the digital platform.
Her staying power in real estate lies with her loving the business of property investment which continues to spur her to “always think of ways to add value” to her stable of properties.
In parting, she dishes out some advice for your investors intending to venture into property investment.
“Be careful in what you plan to invest in when it concerns the choice of properties. To avoid risks, invest in properties located in strategic locations which are serviced by Mass Rapid Transit (MRT) and Light Rail Transit (LRT) lines.
“Also, look out for properties that are situated nearby malls that will prove convenient for tenants in terms of featuring nearby eateries and grocery stores or market. This is because the theory of supply and demand is very important and remains integral to real estate,” she adds.
In summary – she advises one to ask a pertinent question before committing to the big property decision:- Is the main reason to buy for one’s own use or only invest in property? If the answer is to invest in property – who will be your future tenant? Asking this rhetoric will provide one with the answer says this season real estate agent and property investor.
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