After meeting a handful of successful real estate investors, I see similar traits in all of them and I have picked out three to share with you such that you and I can learn from them.
1.Ever expanding network
They have a good network of investors, bankers and real estate agents.
They hang out frequently with other like-minded investors and make friends with estate agents and bankers etc.
Being in such network, there is active sharing of exclusive first-hand information leading to collaboration focusing on mutual growth in wealth, for example; undervalued property from distressed sellers whom they know .
Furthermore, such strong bond comes with many fun-filled gathering sessions and celebration of their successes together.
2. Very well read and critically insightful
They read and talk about real estate and other financial products every day.
They watch the market and knows which districts are showing a buy signal.
They understand how to critically view the property price index (PPI) and look at specific district (and estate) to hunt for opportunities.
They are watching other financial products for a good portfolio mix. Although a few of my clients are cashing out their already profitable property investment to channel the proceeds to other investment products, real estate is undoubtedly still viewed as a safe haven with high potential growth in current times of global uncertainty.
3. High financial awareness
They always know how much In-Principle Approval (IPA) they can command at their finger tip.
They do projections and make plans for future cash flow needs so as to fully utilise their cash to work for them because being under-leveraged is actually a kind of liability.
They may not know the technical calculation of time value of money, mortgage and debt ratios but they understand the difference between good debt (leverage) and bad debts (liability).
Well, these are just three simple habits that anyone can practise and become the next successful real estate investor.
Let me know your views!
That’s why I scare to invest. I think I will not dare to invest until I die man.. haha. But good advice!!
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thanks 🙂 if you were to start off one day, try out some products that are very safe, such as fixed deposits or government bonds.
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I do believe expanding network is one of the crucial part too! But first we need to spend a lot of money on networking as well…sigh…
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I’m sure there are networking that are almost free? Such as catching up with old friends on their progress in career/business, chatting with your relatives or colleagues. All these open up opportunities as well 🙂
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I need to expand my network now. Thanks for the tips to become a successful property investor.
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You are welcome Jane! 🙂
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i leave all the investing and money handling to my husband.. he’s good at it.. hahhaa
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That sounds good Lily 🙂
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All these information is so useful! Even is I am not a property agent, it is good to know how to find a good agent
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glad to hear you find it useful Cheryn! 🙂
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I am the worst at networking! haihhhh…but I do conservative investment though. Still fine so far.
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Nice one Cindy 🙂 always good to start investing early
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This was a good read although property and all goes over my head👍
do drop by… GreenStory
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Guess I need to expand my network more. Thanks for the useful tips!
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You are welcome Shini ! 🙂
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Oh gosh.. I am so terrible at networking… I do need to learn more on networking huhuhu
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everyone started somewhere, just keep practicing, keep improving 🙂
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Investors also need to understand well the property and have strong analytic skill. This is what i personally opinion.
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Totally agree with you Betty !
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Thanks for the informative post =D Never knew that there are such tips for a successful property too, now we know the tip thanks to you!
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you are welcome Sharon! 🙂
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thanks for the advise and tips. Always thought property investment are only for rich people.. hmmm….
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As long as you are buying 1 hour to stay, that is already an investment. Property investment is for everyone, an important skill to acquire in life =)
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Nice article. Good to read. 🙂
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thanks Shirley !
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This is good information. Thanks for sharing.
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You’re welcome Linda !
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very good tips! I wanna become a Successful Property Investors too
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I’m sure you can Rane, anyone can! 🙂
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Indeed, the tips is simple and useful although i am not familiar in the field.
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I am poor in networking 😦 Guess I should start learning it from somewhere..for free will be better hmmm…
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Yes you should ! Start as early as possible 🙂
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To become successful, we really need to equip ourselves well, gambateh everyone 🙂
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Good one!
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