Free Can Be Expensive
Many of you would know that I belong to many investments club.
It’s the place to be, with info is exchanged and insider tips shared.
One of the most common stories is how a person makes a decision that costs him irreplaceable time and precious money.
Free advise is everywhere. Go to Facebook and one can be attacked by a trench of advertisement touting free advise.
They usually have properties to sell and they make money from convincing you to sign on the dotted line. Their marketing material is very convincing, I must say. I have spoken to many of them. I bought some properties from them too. But many of these promoters were clueless and they all sang from the same sales scripts.
This afternoon, I was making a u-turn after buying crab porridge (thanks to Nicholas Ting for recommending).
I noticed a row of empty shops. It has been empty for three or five years ? give and take a few years.
I asked Jill “can you remember that we came to the show-flat many years ago? The marketing material was so convincing that we almost bought a few units. They talked about the grand master plan where the government would relocate the military airport nearby and the whole area under the flight path (which applied to this building) and areas around will be revamped.
Well, that was in 2013?
Today, this building is almost as good as dead. Not sure if the supermarket can stay there for long too.
And mind you, the military air base will be moved out in 2030, that means another ten years.
You know what that means ? it means the area will likely remain status quo until 2030. If you are the shop owner, and its vacant for the past five years, what are you going to do? Hold another ten years.
If anyone asked me, I will say cut the fingers to save the arm.
Lesson here ? don’t be too early to buy. Yes, at times there are first mover advantage. But in cases like this, it looks like first mover bandage ! Most buyers are probably crying foul and bleeding profusely.
Then you may ask, Coach Marko, if not buy, then buy when? That is the million questions. I do not have a crystal ball that guarantees to make money. However, there are some strategies that I use to keep my friends and myself profitable for such properties.
Do you want to know ?
If I get enough people asking, I will reveal how the rich investors buy in a safe and predictable manner.
Love, Marko
Investor, Practitioner and Full-Time Coach
