I attended a 2 hour property workshop by Credit Savvy. Besides the usual “ra ra” and impressive background to get you to sign up for their 3 day course, below are some of the key points which I picked up.
- You get to join their investor’s network group. And the elite few with more than X properties get to join a elite group where the trainer will personally pay for the meetup.
- Leverage is a double edge sword, but use leverage to your advantage.
- Gear up.
- The trainer mission statement is “…for all of you to own X number of properties”
- The basic strategy is to sell (upgrade) from your current HDB and buy a Private Property and a Commercial Property – the trainer will be teaching how one can do this without paying anything
- The rich don’t time the market, they buy undervalue property when they see one.
- Location is everything – not current hot location but location to be the next hot spot e.g. near Thomson and Downtown line.
- How older folks can increase your loan period by partnering with their children. If you don’t have one – the trainer can teach you a way.
- How you can get 80% loan even if you do not have a job.
- Another tip is to buy a a dual key and the trainer can teach you how to create one yourself.
- Bigger area usually means a lower value psf.
- Your first property is the most important.
- Never sell your private property unless you can sell it to buy two more.
- Savvy investors do not sell a HDB only to get another HDB.
- The trainer has created a system to seek out undervalue property.
- How to touch up your house to ask for a higher valuation.
- A good property is where its rental is 1.5 times the monthly loan.
Some of his views he shared about property investment is uncannily seemingly to stocks:
- Undervalued property akin to undervalued stocks.
- People sitting by the sidelines waiting for the price to drop which never come.
- Not taking action and lamenting when people make a profit.
- A network of like minded people.
I will be attending more seminars to build up my knowledge. One thing that irritate me is why does a network has to be exclusive? Information should be readily available to everyone. The differentiating factor is the person who act and the person who do not.
Hmm… , maybe I should also “leverage” upon my site to start a property investment group for like minded people?