Do You Know more than 90 percent of World’s Millionaire either Made or Parked their Money in Properties? It is a fact that Properties Investment provide an Excellent Financial Leverage!
1) Why choose Property Investing as a main Investment Vehicle when there many Exotic Investment Option out there like Stock, FOREX, Option, Gold, Land Banking etc?
Unfortunately there is no “perfect” investment that gives you the best of everything. Each investment vehicle have their plus and minus points. Hence, there are No Right or Wrong investments. You need to know what is available out there and find the right investment vehicle that suits your unique investment profile. I choose Properties to be my main investment vehicle as real estate is able to provide Great Financial Leverage. You only need to come out with a small down payment in order to own 100% of an asset because the banks are willing to lend money for the property purchases. Your chances of becoming rich via Properties is Slow, Steady and Surer compared to other Volatile Investment like Stocks, FOREX, Options, etc. One year from now, you can estimate up to 95% accuracy your Net Worth (ie Assets less Liabilities) in Property Investments. In other investments, you will be unable to do so. Your investments may be up by or down by 50% or more.
“If you think education is expensive, try ignorance” -Derek Bok 2) How to get start in Property Investment?
First, get the Knowledge by Reading Property Investment Books and Invest in Property Investment Seminars. Just by doing these two things alone, you will be far Great ahead compares to people who do it via the more costly Trial and Error method. However knowledge alone will be any Good if you do not take ACTION! It’s good to start off with Low or Medium Cost Apartment to get the experience before going for higher end properties. The first few property purchases are usually the most challenging as there is a lot of learning taking place. The good news is that things become easier and easier in property investments. Subsequent purchases become very easy and you can literally buy with your eyes closed once you have purchased more than 10 properties.
3) What Are the Investment Formula or Strategies To be Use?
There are more than Ten Investment Strategies like Buying from Developer, Buying for Rental Returns or Capital Appreciation, Property Flipping, Commercial Property Investing, Auctions, etc. Based on your Unique Investment Profile, pick maximum three Investment Strategies and specialize in those three areas.
The Key here is Focus.
4) What is Zero Down Property Investment?
It simply mean Buy with little or zero money. In another word, take out little Capital and Borrow to the maximum
5) Do Zero Down Property Investment Exist?
YES
6) How the Zero Down Property Investment is Possible and do you have any Real life Case Study?
Read my book called “How You Can Become a Multi-Millionaire Real Estate Investor!” I have entire chapter dedicated to this topic.
7) What skill are needed to be successful in Zero Down Property Investment?
•Negotiation skill
•Ability to look up for not just Good but Great deals
•Very close and in touch with the current Property Market
•The most important is Patience. Only One out of ten properties could qualify for this Zero Down Property Investment method.
8.) Is the Negotiation skill an Inborn skill?
Almost everything can be learn and nothing is inborn. In short, all Skills are learnable!
9) What is your advice to those who are Weak in the Negotiation skill ?
Read books on Sales, Neuro-linguistic programming (NLP) and Negotiation. Other Highly recommended books to read are “How to Win Friends and Influence People” by Dale Carnegie and “Personality Plus” by Florence Littauer
10) Do you encourage to buy Uncompleted properties(buying from developer)?
As an investor, your Goal is to have Minimum Risk with Maximum Return. As long as the developer is reputable, the location is good and the property fairly priced, why not? I have even encountered some occasions where the developer made a mistake in pricing in my opinion.
11) Is having a Supportive Spouse Important in Property Investment?
There is a saying that two heads are better than one. Having a Supportive Spouse or Partner is a huge plus Point as Property Investment involves Risk and Financial Capital. Besides your spouse or partner, always mix with the other like-minded investors as your Property Investment journey can be very Slow and Boring. With investment buddies, you can Challenge or Push one with another to make your Property Investment journey more fun.
12) What are sacrifices are needed in Property Investment?
Top of the list will be Delayed Gratification because you need to Save in order to get the Investment Capital for property investments. Savings can only come by spending less or earning more.
13) What is your advice on Getting Bank Loan?
Bank Loans are given based on Your Earning Ability and Good Track record. All your credit application and late payments for credit cards, car and housing loans are recorded in the Central Credit Reference Information System (CCRIS). If possible, get into professions where your Earning Potential is Unlimited like Sales/Marketing, Trading and doing your own Business. This will make it easier to borrow more money from the banks.
14) What is your advice to those who want to achieve Financial Freedom?
•Keep Investing and Improving yourself.
•Take ACTION!
•Do not be afraid to Make Mistakes
•Network with Right Minded Peoples
•Earn and Save as much as Possible
•Invest Wisely as much as you can.
P/S : This article is originated from http://www.alantanblog.com/property/learn-how-to-become-a-multi-millionaire-in-property-investment-milan-doshi.html
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