QUESTION: Rltr. John, I already have a house where I live with my family. I have a full-time work, multi-million savings, and would like try to invest in real estate. I have read different versions of advise from almost any real estate agents, but one common suggestion is they all think that NOW is the right time to invest. What is your version, Sir. John? ANSWER: Of course the agents would always say they want you to invest now because they are interested in the commission, and I will never forget to mention that they will also force their listing down your throat. I understand that you already have a residence, so obviously you just want to invest in real estate. I understand also that you have full-time work, so I assume you don’t have sufficient time to personally handle the hassles of buying and selling — so you need an agent. Dreaming of big profit in dealership (buying and selling) is easy, but actual profit can only propagate as a result of favorable market choices and successful negotiation. Buying or selling in a hurry will narrow your choices and may possibly make you lose your position of strength in price negotiation. Buy low, sell high, that is the basic rule in investment decision-making. To buy low, I suggest you have yourself represented by a professional buyer-side agent so you can have a wide array of choices and an expert negotiator on your side. Establish a good relationship with your agent through the use of a document called Intent to Buy (please remind me to discuss this document in the next issue of Real Estate Service Coach). To sell high, don’t wait for the time when you badly need money. Pass it over to a sales agent as soon as you acquire the property. The longer is its exposure period in the market, the bigger is the chance of selling it at the best profiteering price. If there is anything else important that I forgot to include in this article, or if you experienced a real estate transaction that is anomalous, scam, fraudulent scheme that you want me to document and expose for others to be warned, or if you want to donate to the war chest of real estate consumer rights advocacy, please feel free to email me at JohnPetalcorin@Gmail.Com. If you want to comment about this article, there is a provision for this purpose that you can find below.
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