My property investment journey started when I got married and got into debt. It triggered me to learn more about money on how to make money works faster for me.
I read a lot of investment books on share investment, property and commodities. At first, I tried share investment but I found it is boring.
So I decided to try property investment and got hooked into it.
My Property Investment Chronology:
1) 28/05/2004: I-1-12 Apartment – Leasehold (Fully Settled)
I bought this house before I got married. I was excited because it was my first house so at last I owns an asset rather than just renting.
My 2 children lived here when they were baby.
2) 12/08/2008: B323 – Apartment – Leasehold (Fully Settled)
I bought this property after I got married. My first rental property. I learned a lot from here. You must be familiar with all defects issues.
This property was in bad condition got water leakage and the previous owner let it go with low price.
3) 01/09/2009: A214 – Apartment – Leasehold (Fully Settled)
My second rental property. I bought it after one year of my first one. I was getting familiar with the legal process in purchasing a property.
4) 20/05/2010: C319 – Apartment – Leasehold
From this property I learned about water leakage on how to detect them from the wall or ceiling.
5) 20/07/2012: S44 – Terrace House – Leasehold
My children getting big, so me and my wife decided to find a bigger place for our family. So we moved in here in 2013 and we rent out our first property 1-1-12.
6) 08/08/2017: WA20-01 – Condominium – Freehold
It took a while to buy this property due to LTV of 30%. I bought this property because it gave cashback of 15% so I just need to topup 15% for the deposit.
This is my first AirBnb property.
7) 01/11/2021: 36-01-04 – Apartment – Freehold
I bought this property after I fully settled my second property (B323). It was during Covid-19. So I got it a low price. I was able to rent it out within 3 days.
8) 05/01/2023: 169 – Terrace House – Freehold
My first auction property that I won. I was nervous but it worth it because I got it below market price and able to rent it out in 7 days.
I described my experience in buying auction property here.
What I learn?
- You must have financial discipline
- You must know how to evaluate rental property demand
- You must be patient in finding property below market value
- You must know how to detect defect in property and able to estimate it costs by referring to a contractor.
- You must have a panel of trusted contractors.