bandwagon effect

would like to share a story.... was working on a promotion till quite late one day. i chat with one of the property agent there and it was then that she reveal an absolute irressistable plan to me

this is what she said.... " u r a young fella, u know there's this developing going on by TLS developer on a new high rise at kajang? they r trying to make it like mont kiara, really good investment, only cost around 200k+ but with the ability to fetch rental of up to 1,800"

i began to stood up and listen tentatively about this plan or project.. it does seem like a good investment... she then continued "i have already ppl lining up to rent this unit which will be finish building in 2 years time, location is awesome with up to 9 uni surrounding it, and what makes it better is that it only need 1,000 as down payment, very low barrier to own a condo as an investment"

i began to notice this and asked more... she then bring me and one of my colleague there to view the place... my colleague was so pump he wanted to put the downpaymet down... i however have a few question raise

she said with strong statement that guarantee able to rent it out for foreigners, for they came to malaysia to study those master and doctorate at mention uni.

she is makes me think even more

property as investment is not a wrong move but always keep in mind whats assest and whats liability

1)how on earth can i rent it out for 1,800 on a 1k + square feet house even its fully furnished

2)stated that it only target foreigner as tenant, for they only have the cash to do so. These foreigner that u stated came all the way to malaysia to study master or doctorate, do u really think they r stupid to rent such place for such a price when surrounding landed house only cost merely 700?

3)even my house, a three storey house which located at bukit jalil can only fetch me a slight higher than 2,000 without furniture of course. kajang can fetch such high price?? i doubt

4)also only stated to me that it will cost me every month a slight higher than 900 ringgit to own this apartment. Even it's only 900, taking money out of your pocket to keep it running is a liability and not an assest

5)worst come to worst, i able to rent it out for 1,100 a mere profit of 200 ringgit every month. yes thats an assest of 2,400 per year. there r more work to be done for rental

6) assume u want to sell it off. a medium range condo is only selling at 120,000 which located just opposite of the site... for all i know the rent could even be cheaper... thats a rip off to me

7)if its so good, why only get 1,000 as downpayment

she hardly can answer my doubt and in the end acted really upset and walk off

nowadays sales ppl r like this, when they can't sell u something they eventually act all mad and walk off... seriously, if u fail to convince anyone, u should really look at your sales skill... don get all mad for nothing... u piece of wood

i however don't deny i'm looking into property, as one once said... i really dont want to just focus on what i want rather i want to focus on the future... a place for me and her to stay.. or just an investment for me and her

it's not always about the car.. lol

i make a few research and found out that kajang's house appreciate very slow.. like really slow... which prompt me to even think twice...

u think buy burger meh, need to think before u buy something.. or at least think how to make a liability to assest... my dad taught me one thing before... a good location house never have to go through really cheap housing before reaching that place...

cut it short my colleague wanted to jump the gun

the agent said one word to me before she left, everyone commit to this apartment even if it doesn't turn out well... u have many ppl who will suffer with u, and they r not that stupid.. so trust them too

your head~!! even i always teach this to my students, just because 9 out of 10 students said 1+2=4, that does not mean the answer is correct.. u at times have to think yourself...

trying to use the bandwagon effect?? i am certainly not a smart fellow but i am definetely not stupid.. not after many shit that i have encounter...

u think money easy to find ah...