Always heard someone saying XXX property expert is offering a workshop, teaching you a method how to succeed in property investing, and how he became a multi-millionaire in just 3 months! But blindly believing or misjudgement likely to cause a disaster to yourself.
A netizen took social media to share his horrible experience. Many years back, after attending few workshops from a property expert, he bought 14 properties. But he is now cornered, even cheap-sale his properties. The debt from his bank loan will be still a 7 figures amount!
The post read:
In 10 years time, from 1 property to 14 properties. Probably i might look quite successful. Out of 14, 3 units were sold, i lost at least RM200,000. Now I’m cornered and desperate. For the 11 units, the most i just completed 24 months bank loan repayment.
You must be curious, not 10 years? why am i done with only 24 months? Because i re-finance it. Actually i do have a job and still working on it, but i cannot extend the loan payment anymore. The problem will be the tenants. Out of the 11 units only 3 with tenants, while me staying in 1 unit. So, 7 units is empty, those are used to rent out to people who worked in Singapore.
▼（Picture for illustration purpose）
I called the so-called coach or property expert, but he never pick-up my call again. Now i will need to do repayment for bank loan amounting RM26,000 per month. I got a pay cut to RM4,000. Even i cheap-sale all the properties, rough estimation i will be still with more than RM2 million debts. My bank is now with less than RM10,000 savings. I really don’t know how to deal with this tragedy!
This is just a sharing : There is no guarantee profit in the world!
No matter how good is your coach, he is just trying to earn the fees you pay or getting commission out of you. When things screwed, they will just leave you alone.
And now, the so-called coach is still coaching someone to invest in a lelong units and the funny part is those lelong units belongs to his previous students.
▼ A lot of people just looking at the reward but not risk. And never consider what if, retrenchment, pandemic..
▼ The pandemic hit a lot of people badly.
▼ One netizen also sharing some similar ads：Guru to teach you way to invest in share market. But you will need to pay RM18,888 fees for the workshop.
▼ If someone knows a way of making money. He won’t spend his time trying to tell the world how to make money. He’s definitely spending his time making money unless you are his way making money.
▼ “Developer spend 3 years to build a residential area, coach spend 3 days for a workshop and you spend 30 years to pay for a property. The developer and coach making their money but you were trapped. All successful entrepreneur went through some obstacles and challenges. Like what other said, every 10 years with 1 economy crisis. So, only if you manage to ride it through you consider successful one ”
▼ One said : ” Why buying so many properties, best to have 2-3 properties. Not to say, it’s good to have a lot as it’s not easy to manage and a lot of hidden costs. The more you have the troublesome it is”
Another netizen also commented: ” No doubt 20 years back someone build wealth fast via property investment. Especially those investing near to university or college. But not now. Believing in those coach and your greediness + pandemic. It’s hard!”
▼ There’s no such thing as a free lunch. Greediness is the root of all evil!
▼ Invest in property is something that we shouldn’t rush.
▼ One netizen suggested him to look for AKPK ( Agensi Kaunseling dan Pengurusan Kredit ). They will help those in need of counselling and debt restructuring.
▼ The fact is, even you attended all these workshop but still you have to judge based on how much you can afford but not blindly believing in the method given but have your own judgement. Investing a property can be a double-edged sword, can make you a multi-millionaire or in bankruptcy.
Info via：新山大小事 / Facebook
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