Real Estate Opportunity
- By Jovi FindRich.com
- Published 08/13/2007
I am somewhat staunch supporter of Robert Kiyosaki. Ever since reading his first book on the cash flow quadrant, I have bought several other ebooks from him and his partners, and Cashflow 202 game.
In June 06, Robert Kiyosaki's article "Booms are made to go Bust" was published at Yahoo! here. Much were written in that article and frankly speaking, I did not really read and remember any part of it except for the title which says it all. Everybody loves a booming economy where they are making money, but many often forget that such booms are never forever. As I have often read about books about rich people, most of them make their real fortune starting from Bust rather than purely during the Booms.
When there is a decline of any sort, be it real estate or stocks market, that is the best time to pickup bargain investment and get the best leverage from the money earned during the earlier Booms.
When is the best time for money to leave the pocket? Bust
When is the best time to take back the money invested + Profits? Boom
It is easy to buy assets at a bargain price when others are getting rid of them in fear. And it is also easier to sell during Booms when everyone gets greedy and all the employees will be cash rich from the higher pays.
Easier said than done - this is true if you do not have the mindset of the rich. My own fault lies in being a great employee during my first 10 years
after school. The mentality of being an employee with regular paychecks and leaving office each day just to spend money or stay at home to watch TV. If I had accumulated sufficient savings and equip myself with the current knowledge and desire, I believe that I could make my first million by age 40 or 45. By Roberts' definition, age 45 is a half-time, which also the age when he retired as a millionaire.
In another video by Robert Kiyosaki, he talks about the real estate opportunity in the current decline in the US housing market. I personally agree that this is a great time to invest in the real estate as well. If you have lost money due to the decline, it is not his fault either. We should always thank him for reminding us when there is a great time to invest, and I just hoped that I had the resource to leverage when there is one here in Singapore.
In fact, just over the past 3 - 4 years, some of the landed property has increased in price significantly. Where a 3-storey terrace house could sell for more than a million during good times, they were going for less than S$800k just a few years back. Many celebrity in Singapore have also made a fortune selling their real estate investments and their news were published in the local newspapers.
On the other hand, should a recession arrive earlier than expected due to the recent turmoil, this could be a great time to sell off any property. Good times are meant to sell off investment, bad times are meant to put the money back in and grab more. If there is nothing to do, just sit back, read the newspapers and enjoy come coffee. I can't wait for this day.
In June 06, Robert Kiyosaki's article "Booms are made to go Bust" was published at Yahoo! here. Much were written in that article and frankly speaking, I did not really read and remember any part of it except for the title which says it all. Everybody loves a booming economy where they are making money, but many often forget that such booms are never forever. As I have often read about books about rich people, most of them make their real fortune starting from Bust rather than purely during the Booms.
When there is a decline of any sort, be it real estate or stocks market, that is the best time to pickup bargain investment and get the best leverage from the money earned during the earlier Booms.
When is the best time for money to leave the pocket? Bust
When is the best time to take back the money invested + Profits? Boom
It is easy to buy assets at a bargain price when others are getting rid of them in fear. And it is also easier to sell during Booms when everyone gets greedy and all the employees will be cash rich from the higher pays.
Easier said than done - this is true if you do not have the mindset of the rich. My own fault lies in being a great employee during my first 10 years
In another video by Robert Kiyosaki, he talks about the real estate opportunity in the current decline in the US housing market. I personally agree that this is a great time to invest in the real estate as well. If you have lost money due to the decline, it is not his fault either. We should always thank him for reminding us when there is a great time to invest, and I just hoped that I had the resource to leverage when there is one here in Singapore.
In fact, just over the past 3 - 4 years, some of the landed property has increased in price significantly. Where a 3-storey terrace house could sell for more than a million during good times, they were going for less than S$800k just a few years back. Many celebrity in Singapore have also made a fortune selling their real estate investments and their news were published in the local newspapers.
On the other hand, should a recession arrive earlier than expected due to the recent turmoil, this could be a great time to sell off any property. Good times are meant to sell off investment, bad times are meant to put the money back in and grab more. If there is nothing to do, just sit back, read the newspapers and enjoy come coffee. I can't wait for this day.
