Property Investment is not about Quickly becoming Rich

If the speed to become rich is important to you, property investment is not suitable for you unless you are a speculator. Property investment is a slow and steady method to accumulate wealth.

Property investment is not only about getting rich. It is the ability to be responsible to the tenant by providing related services such as maintenance, repair and security

 

 

My first shop lot investment in 2009 at Taman Mutiara Rini, next to the corner lot

Property investors help the market by providing affordable property to rent for moving people, start up or growing business with related services. Hence, up keeping or maintenance of the premise is very important.

 Repainting and washing the shop to prepare for next tenant

If you are a beginner, it is important to learn to do all of the above on your on. As time progress, you should learn to force yourself to hire a contractor to do some of the job either due to time limitation, insufficient force, knowledge and skills.  Since, I am an electrical engineer most of new lamps and fans installation were done by me.

 

But, initially I didn't have much equipment to do some of the job such as drilling holes, I hired my friends to do the installation. The basic skills are important to reduce the maintenance job such as replace new lamps, switches, fans and simple wiring. For a new investors with not much salary, the skills helped me to reduce the cost even until today. In return, I know exactly what the contractor should do if I hire anyone. And I also be able to teach my children to do basic installation and maintenance.

My first house investment at Bandar Seri Alam, Pasir Gudang. The tenant leave my house without properly upkeep the house. I use the deposit money to hire contractor to clean the house and deduct the money.

Basic needs must be attended to ASAP. Within a week is a good response time. A month is the worst condition for what ever reason. Some time, it is due I didn't have access to the premise to do any maintenance, or my contractor failed to contact the tenant.

The ground floor has to be repainted.

The most difficult part is when the tenant is leaving the house. There will always be a dispute about the condition of the house especially the painting, cleanliness and utility bills. Thus, a strong agreement must be made before letting any new tenant entering the house. Deposit should be divided into two main categories: monthly rent deposits and utilities deposits. 

Happy learning!