Today, I’ve learnt that the local property market is viewed to be soft. This is evident as developers are offering generous discounts, rebates, absorption of legal fees and even furnishing packages to entice buyers to consider taking up units for their projects. So, is this a good time to buy, hold, or sell off real estates in today’s market?
Last Tuesday, we had Kaygarn Tan, a full-time property investor, coach and best-selling author of ‘The Master Key Method’ on our 1-Hour Live Webinar to share his views on the current property market. His views are unique and I’ve personally been inspired by it. If you have missed it, let me do a quick recap on what I’ve learnt from this webinar.
#1: I’m Doing All of the Above …
Here’s an interesting statement from Kaygarn. He shared, ‘In today’s market, I do buy properties, I do hold onto properties. And, I do sell properties. It’s all of the above.’ So, what is he implying?
I’ve discovered, in terms of buying, he is buying properties that are attractive for investment. In terms of holding, he is holding onto properties that are making money. And, in terms of selling, he would sell properties which are underperforming in his portfolio. I believe, regardless of market conditions, good or bad, Kaygarn is one who is active in managing his property portfolio.
#2: Don’t Time the Market
Isn’t there the best time to buy properties?
Kaygarn shared, ‘Of course, there is. The best time to buy properties is always Yesterday.’
So, when is the ‘second’ best time to buy properties?
Kaygarn shared, ‘It is today. Property investment is long-term. In Malaysia, prices of properties, in general, doubles every 10 years. As such, instead of attempting to time the market, it is better to budget and start buying a piece of property according to your affordability.
#3: A Golden Nugget for Young Working Adults
Kaygarn shared, ‘Don’t Wait to Buy Property but Buy Property Now and Wait.’ He advocates one to start building a portfolio early. For young working adults, he suggests that the first property is to be purchased for investment purposes over for own-stay. If you are searching for your first property, you may start to enjoy passive income from renting it. The extra income helps you to afford the purchase of your next property, thus, building your portfolio much faster.
Here, I’ve covered the basics. But, if you are new to properties, you may find this webinar educational. To watch the webinar recording,