Hi, my name is Ka Hoe and I’m the founder of J Advisory and today I am back with a very serious topic because recently I have went to my unit and I saw a lot of things which the weak-hearted shouldn’t be seeing So what I mean now total investment is actually a topic which a lot of people really love because it’s always seen as something like very glamorous very lucrative but I want to share with you the behind the scene and also some of the things that you should know before you even venture into property investment. Are you guys ready? So what happened was that I have this apartment in Selangor somewhere around Serdang and Sri Kembangan, right and last week. I actually went there and took some video and I want to walk you guys through it . You know, if you think that property investment is such a glamorous thing. Are you prepared to do all these things?
As you can see in this video, we actually have five rooms in the apartment, and what happened was that during MCO (Movement Control Order in Malaysia) it was fully occupied But as you can guessed one by one the tenant started to leave mainly because number one the schools were closed so there were 2 students that actually went back to China and you can see in the room here, when they actually left it was actually in deplorable state, you know, you can see that they didn’t clean up and what he told me was that he was in China already and he couldn’t come back but after a week later when I told him to clear his stuff and one of my other tenant actually told me that he came back finding the room open one day all the stuff were gone, you know, except for the rubbish, of course. So here are the 5 things that I want to share with you or rather the questions you should ask yourself before going into property investment if you think it is glamorous.
Why do I say that is because as you can see from the video here. You wouldn’t want to be coming to your apartment if you have a lot of love and put so much time and money into it to find that you could be you know in such a bad dirty yeah, you can see the fridge and everything. There’s a lot of cockroaches and rubbish right.
If the answer is no then I will suggest maybe not, you know property investment is not for you because the time of buying property and then and a lower price and selling it at a higher price is one thing and this point of time or rather the time moving forward. We see that buying property you need to basically be able to keep it for a number of years and unless you’re freaking rich right you can buy property and then you don’t have to pay any installment or loan and keep it without any rental or tenants. Then that’s a different level of investing but in general most of the people when they actually have to buy to keep for a few years actually they have to rent it out. When you rent it out, there where it leads me to the third question you need to ask yourself.
So what I mean by that because property investing is also another business of people you basically need to be able to connect with the tenants being able to manage them. And if you’re the type who likes to outsource and don’t want to do everything yourself and you need to know how to manage to tenant agent, sorry because then you need to get them to help you to rent it out and it’s not like you meet one agent and then they straight away can help you. You probably have to interview and understand which are the agents who specialize a certain area.
Because if you are the type that likes to do it yourself and you don’t like to manage people and you don’t talk to the agents. Then basically you need to be able to sell your unit to prospective tenants and many of us who are in employed positions, sometimes we’re very comfortable that we don’t need to be able to sell. The only thing we ever do is at least we sell ourselves to our employer, right? But other than, selling has been seen as something which is very low level, but for me, I felt that is the life skills. You should know how to sell basically you’ll be able to survive anywhere, right and last but not least, If ever your unit is similar like this situation where you can’t get anybody to rent it, is your financial position strong enough that you’re able to continue to pay the installment without a tenant. So this can be also linked to the first point where if you don’t have a strong heart that could be something very very stressful that you put yourself in this situation right now.
So, of course, there are other strategies that you can use to prevent your unit from becoming in such a state right now but this is one of the units which I bought earlier which right now as we learn and realize the mistakes I’ve made, I like to share with you. So if you also have a unit in such a condition or in such a situation you know comment in a situation where I’m happy to share some ideas with you as well. Take care guys I’ll see you in the next video.