Thursday, March 07, 2019

A "professional" property agent

A friend introduced me to a "professional" property agent. The agent strongly recommended me to invest in property as a good long term investment.

At first, he recommended residential property.

I told him that residential property is out, as I have to pay the ABSD - additional buyer stamp duty of 15%, as I already own more than 2 residential properties. With the high price, it does not make sense to invest with this additional cost.

The agent then recommended that I invest in shop units. He sent several offers and gave figures to show that they provide attractive yields.

I refused to consider any of them. I know that retail sector is very bad. Read about this story.
I stopped responding to the "professional" property agent. He only wants to close a deal and earn his commission.

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