Telephone Conversation With A Student Called Miss Tan

Miss Tan : Coach Marko, there is this developer at XX Jervious road, giving $400K discount. Should I buy ?

Me : I don’t know about you, but I wont buy.

She : Why ?

Me : Have you seen the score of the checklist ? This pty is mean for rich people to conserve wealth, not mean for people seeking to grow wealth. I am growing my wealth. One day, when my wealth reached the next level, I will be conserving wealth. I may then buy this type of pty.

She : But developer is giving $400K discount.

Me : Yes, I know. Why is the rich developer giving money away ?

She : Becos they say govt will penalise them if they cannot sell within the few years.

Me : Why they cannot sell these few units within these few years?

She : I don’t know.

Me : I know you like handbags. If a famous brand handbag decides to go on sale, offering its products on discounts, can you guess why ?

She : ah yes, it can be wrong design, not popular colours or even wrong price.

Me : wonderful. Now replace this handbag with property, what do you think ?

She : I can see this project is in good location. Its small project which is probably why the developer is having a hard time selling the units. If I buy , I may also have hard time selling it in future.

Me : Very good… what else can you think of ?

She : It overpriced. So after giving discounts, the prices seem right.

Me : With this budget of $2M, can you find better properties to invest ?

She, sounding energised over the phone : Yes ! I can find a pty next to MRT, in Prime Location, with better upside and immediate rental. Thank you Coach ! Bye

And she hung up fast and furious. I have no chance to ask her to send me chilli crab ☹

Guys, what have you learnt from this phone call ?