Recently I was asked by a few of my friends’ friends for an apartment for rent in KK as he will be moving over here soon, and I asked him, “What kind of apartment you looking for?”, this is exactly what he told me, “I don’t know oh, thats why I asked you” , kinda annoyed, but I nonetheless ask him what is his budget. And wouldn’t you know it he said, “As cheap as possible lah of course!” , at this point, I asked him did he do any research on before asking me? He said NO.

Don’t you think in this day and age, where information is at your fingertips, you should do at least some research before you go and ask anyone for opinion? At least do some homework lah! You expect to be spoonfeed? IF you are LAZY to do any research, I am LAZY to answer you. Met a few investors who would buy their investment property first then later ask me, “How is it ah?” That’s like giving birth to a baby and asking people how ah?

IF you are LAZY to do any research, I am LAZY to answer you.

Investors who are lazy to do research maybe lucky and made money anyway during the past few years Booming time, but going forward, research is crucial. Its critical. Sure your friends bought it, the nice sales execs with mini skirt tells you are going to make a killing on this purchase, and even The Guru said is the BEST thing on earth since kow lou mee, do your research please.

• Go online, check the developer background, is it reputable, do they have a history of making substandard housing? Is their cashflow strong enough to do this project? Do they have a strong panel banks? What do their project doing now after completion? Rental and Capital Gain? Word of mouth?
• Go to the site location and check out the surroundings. Is the neighbourhood a good one? What kind of people stay around this area? Is the area coming up? Lots of activities,  construction started on empty land etc. Is the property close to schools, shopping malls, city center etc.
• Whats the rental in the area? Who is going to rent from you? Who is your potential tenant? What kind of income group? The rental they can afford? No point buying a 1 mil property and expect a RM5k rental when your this rental equals 5 months of their salary.

Many people are too lazy to do what is necessary to become a good investor, instead they want easy answers or they are so scared they wait for other people to commit first before they make a purchase. With this day and age there is really no reason for anyone not taking the time to do research.

propertykid

Always Learning. Always Investing.