The general sentiment I hear from I go yum char with people from all walks of life including those from property industry is that the Sales are Down, Loan Approval is Down, generally translate to the Market is Down. Many said the difficult economic environment, difficult loan approvals (probably easier to get a “donation” rather a loan from the bank), and a host of other reason for the current slow down. The phrases I hear the most is “don’t buy now, you don’t know when is the up cycle or the property price may drop.”

To that, I will say this again,  you cannot timed the market, you can only timed yourself in the market. Property investment is not a short term game, although many have done so in the past, most of them the buy and flip crowd; who have based their success more on luck than actual knowledge or intelligence. If you want to get in the game, start to think long term like 5 to 10 years, not 1 to 3 years. WHAT If you don’t have the money to hold that long? Well, then buy something cheaper, don’t buy just because your cousin bought it, or your friend made a booking, or you like the sales girls mini skirt. Because at the end of the day, only you will be responsible for your own rice bowl or the lack of it.

You cannot timed the market, you can only timed yourself in the market.

The golden rule of property investing is the Longer you HOLD the more  you PROFIT will make, provided, you have done your homework and the property is in a decent location.

Tan Sri Quek Leng Chan is somebody I admire a lot. Not for his fortune, although there is a lot to admire about that (thats envy. hehe) But for his acute almost sniper precision for buying bargain deals again and again and thus making millions, billions in the process. Was it because he timed the market correctly? In my opinion no; he made his billions by making the best deal in the market.  And when can you get the best deal in the market? When the market is down of course! When everyone is cash strap, there comes Mr Quek, with billions in cash, rescue you from your misery.

So next time the market is down, means its time to look for deals! Be prepared, make the best deal you can. How to know if its a good deal? Well thats another topic by itself.

Propertykid

Always learning, Always Investing.