Have you heard? According to Forbes, 99% of Singaporeans became millionaires through property investing. In fact, 3 of the 10 richest people in Singapore made their wealth via real estate! Needless to say, there are many money-making opportunities in property investing. But before you jump into it, here are the most popular myths about property investing and how you can actually make it big in the property market.
Myth #1: You need a lot of capital to invest in property.
A building costs a lot more than what it takes to buy a stash of stocks or start a business. For this reason, you may have heard people warn you to stay away from property investing. But the cost actually has little to do with how much money you really need to get started. To be more specific, you can invest in property with as little as a low four-figure sum – or sometimes, with no money at all!
How to invest in property with little or no money down?
When investing in property, invest in a group, not alone – it’s a principle that has stuck with me throughout my years in the industry. You see, a building might be expensive, but that eye-watering price tag becomes more manageable when you split the cost between a few people.
Property developers also usually offer massive bulk discounts when the whole building and the multiple units within it are sold off in a single purchase (which you can do if you invest in a group). The low cost of purchase, in turn, can help you to turn a huge profit when you do decide to sell the property in the future.
Lastly, depending on the payment scheme, you may not even need to pay an upfront cost!
Myth #2: Property investing is a sure-win!
Since 99% of Singaporeans became millionaires through property investing, you can never go wrong with real estate, right? Well … no. Like any form of investment, you can lose money if you buy a property in the wrong location and at the wrong time. Many people also make the expensive mistake of overpaying for a property, thinking that they will surely make money.
How do you assess if a property is a good buy?
Coming together with a few other like-minded property investors, I started benefiting from the knowledge and tips shared between all members – both young and senior, new and experienced – of the group. The diversity of our group means there are always varying perspectives on whether a property is suitable for purchase, leading to more unbiased and careful buying decisions than if you were to buy alone.
Luckily, we can all wholeheartedly agree on the formula that guides our buying decisions. With this formula, you can know what kind of property to buy in each area, when to buy and at what price to buy. Once you master this formula, you can own multiple properties at low cost.
Myth #3: Investing in overseas properties is risky.
There’s some truth to the statement, but investing in overseas properties is no more risky than investing in local properties. Every successful property investment is built on the back of solid research and knowledge, sound experience, and as previously mentioned, investing in a group. In fact, diversifying your portfolio to include properties outside of Singapore could actually be safer.
When negotiating for a property deal, look out for the payment scheme. Some schemes are more favourable to you, the investor, than to the property developer, though such schemes have largely been phased out in Singapore. This makes some overseas properties more attractive and safer. We also regularly organise trips to other countries in the region to research investment opportunities. Always know what you’re investing in.
We are the LARGEST property investment community in Singapore with over 3,000 members.
To us, success is all about finding the right people beside us … well, because there’s nothing more encouraging than having the right kind of support when you need it most.
It’s no surprise that our group has been transforming ordinary Singaporeans into proud owners of multiple properties.
And they get to achieve this with LITTLE OR NO MONEY DOWN!
Come hear what we are all about (most importantly, come hear how you can make huge profits through property investing!).
Click the button below to reserve your seat for our FREE talk.