Property Upgrading Solutions

Property Upgrading Solutions Real Estate

“It’s just a rental deal - why are you spending so much time and effort?Got offer already take and close.”I was given th...
24/05/2022

“It’s just a rental deal - why are you spending so much time and effort?

Got offer already take and close.”

I was given this comment when I was marketing this unit for rent that I previously sold too - on behalf of the buyer turned landlord.

My answer in short: it is really just doing the best within my capacity for every case irregardless the deal size.

The viewing schedule for this unit was as such on a working weekday.

2.30-4pm - 6-7 groups
6-7.30pm- another 6-7 groups.

Couldn’t get them together as it was a working day and expecting professionals would mean only evening viewings could work for most.

By the time the first session ended - there were offers already to the landlord’s expectations but judging by the response I knew the outcome can be better.

And yet it is important to not let the prospective tenants feel that I am holding their offers for too long - which is why I insisted to hold the viewings in one single day.

Eventually, managed to give the landlord another $200 per month more than expected for the next 24 months.

And guess what? It was the very final prospect viewer that we eventually chose to rent out to due to the overall offer.

Could I have ended my day earlier since the minimal objective could already be met?

I can - but that would really mean shortchanging someone who entrusted me the unit.

I would have let the opportunity slide pass just because I want to go home early and I am glad I didn’t.

✌️ ✌️

Gonna miss enjoying this view for awhile now that its occupied!!

😂 😂

It is always easy to find flaws and faults with a unit.Face mrt laAttributes such as being on a low floor lafacing multi...
13/05/2022

It is always easy to find flaws and faults with a unit.

Face mrt la

Attributes such as being on a low floor la

facing multi storey carpark la

Etc etc.

You dont need to engage an agent to come and amplify this to you lol

Knowing and amplifying this will not help the outcome anyway; especially these are permanent attributes to begin with.

Instead find solutions!

things that are good and positive and magnify or further improve it so that on the overall the results can turn to be better.

For example on this unit i recently transacted..

The immaculate condition and the consistent theme of the whole house just makes it homely the moment you step in and all we had to do was to create an environment to make it more obvious.

Also improve little details that will emphasise the pros of the unit.

Saving huge costs of renovation, avoiding long downtime for renovation and can move in sooner than expected in the current market are just a few key elements especially this unit is a bigger unit and the likely buyer is an upgrader (which eventually turned out to be tru)

This homeowner wasn’t too confident on their price when we first met up because of all these “cons”

But I assured them their expectations can be better after assessing the unit and eventually we got it sold a good 15K higher than their initial expectations in one viewing.✌️ ✌️

All in just 10 days in 2 viewings.

100K opportunity cost possibility…Can’t help but get a shock when I was doing some price analysis earlier in this cluste...
16/03/2022

100K opportunity cost possibility…

Can’t help but get a shock when I was doing some price analysis earlier in this cluster.

Both same floor range but sold at a 100K gap - just few months apart.

At first look the super high floor unit was sold at 630K first.

Then a mid floor was transacted at 100K lesser.

Up to this point I already can’t help but wonder why such a big disparity despite having a floor difference.

Then a similar mid floor range same unit type fetched 100K more AFTER THAT.

😱 😱 😱

Seeing this sometimes really pains me..

Which is why I always make sure to do my due diligence to make sure we’re always getting the optimal results with the data we have.

For example - if 630K have been done already despite a higher floor unit, it doesnt make sense to sell 100K cheaper just because we are on the lower floor range.

Even the lower floor (1-3) already did 530K earlier… 🤦‍♂️ 🤦‍♂️

To me the 630K presents a benchmark that the acceptance for such a price range is a possibility.

When you bought the bto i think the floor difference is not that huge too lol.

Renovated maybe? This cluster is only 5-6 years old - I can’t really think the condition can be very far apart.

Of course end of the day there may be some other factors that contributed to this that I may not be aware…

However just looking at this on my screen….

Cant help but wonder if only I had the opportunity back then to do the sale..😝

Be very careful for those who are in the selling market right now - 100K really not a small sum of money.

#

I just rejected a record high price for an owner.Was I shocked? Not entirely cause it is still short of their “dream pri...
15/03/2022

I just rejected a record high price for an owner.

Was I shocked? Not entirely cause it is still short of their “dream price” which is almost 150K above market.

Was I disappointed? Yes, cause after all a deal is lost.

But that is only a part of it.

Have been marketing this unit on and off for a long time and knew it would take awhile to get the dream buyer who just appeared today.

It isn’t the first offer we rejected – in fact the first offer that came in was right at the start of the marketing at the then market price.

Since then, market started running bullish but not every unit see the same sentiment.

Did our unit ride the wave? Just a little.

Since the first offer – perhaps it went up abit by 50K-100K.

But more importantly what they wanted to buy next also went up but by 200K-300K.

Because the type of demand for the respective units are too big a difference.

It is also the main reason why I did not really want to “push” the acceptance of the offer because of the multiple perspective and angles that I am looking from.

Cause even if we took it – they will also be in a slight disadvantage on the purchase.

It is really important to understand the whole objective we’re trying to achieve and able to look at it from more than one point of view.

And I am glad that being on the ground daily allows me to do that often.

Instead of being overly focused on one side of the deal and being on the wrong side for the next.

If we were to take the lower offer right at the start back then and went for the purchase, 100K lesser but buying something that have already seen up to 300K gain – I think most of us can agree the outcome is still better than now.

Which is also why often one of my questions to a potential seller would be – what do you plan to do next?

Because only then we are able to craft out the best possible outcome with full clarity.

Of course there are many more fine details and it varies from every family.

Can always drop me a WhatsApp message if you need some opinions as well.

https://wa.me/6582237373

Throwback pic from a cruise with my family last year - really like the calmness and peace once in awhile.

Do not depend on luck when it comes to selling your property – do whatever possible to create the best possible odds in ...
04/03/2022

Do not depend on luck when it comes to selling your property – do whatever possible to create the best possible odds in our favour.

One of the most important thing I like to do habitually is to identify who are our competitors and what are the possible means to make our unit stand out amongst all.

Transaction’s data only speaks so much and often is delayed compared to real time sentiment.

I would usually find out expectations, understand their unit attributes and identify the challenges faced by these units.

Sometimes being kaypoh is necessary lol.

Do they have better facing? Renovated? Good floor? Special conditions? Anything close to a deal thus far?

And then come back to my own unit to “remove” every possible obstacle that may come along the way and see how we can be the unit that is next to go ideally and at the best possible outcome.

Good thing that the owner is open to take the suggestions and we used a couple of days to do some improvement to the unit like giving it a fresh coat of pain and dismantling some fixtures that we thought could give the potential buyers a “costly need to hack and renovate” vibe.

(Photos below show a simple before and after effect for one of the places.)

Then identify a sweet spot for the pricing to not be the lowest but attractive enough to get the attention – but yet still be able to create a chance to go for a higher price.

How to do it in between negotiations is really too much detail to write it out.

Once all these is done then only we can be ready to list for sale and the only “luck” element is waiting for that buyer to stumble on the listing.

2 weeks later, we are the next unit to go.

Eventually managed to transact this unit close to the record price top floor unit despite being just on the middle floor, and 40K more than our direct neighbour upstairs of us.

Some of these "improvements" can be very basic but often treated as insignificant - try to pay attention to all these little details a little more and maybe your selling journey can be better.

If you are not sure and would like to seek some opinions, feel free to reach out via WhatsApp

https://wa.me/6582237373

“I want to faster sell before that new cluster start to enter the market and increase the supply here and affect my pric...
24/02/2022

“I want to faster sell before that new cluster start to enter the market and increase the supply here and affect my price”

This was one of the thoughts of a homeowner I recently met.

Referring to the new flats.

Sometimes supply and demand is not so straightforward.

What do I mean?

We also must determine the TYPE of supply and TYPE of demand.

For example, the demands that an older EA/EM usually are those who are looking for bigger space with growing family needs.

whereas the type of demands that fresh MOP flats attract are usually different.

They can be first time buyers who cannot get BTO after multiple attempts, or first timers who do not want to wait and yet get a newer home etc.

Even for some private developments – the layout and function will also determine the performance on their exit timing.

For example, 1 bedroom usually don’t differ by much in terms of size and layout and increased supply may affect prices.

Cause they all look similar.

But on the other hand, I’ve also seen cases where certain unit types in a development saw an increase in their prices despite having newer supply where the 1 bedroom in the same development saw a drop in prices.

One key attribute is really the function of the layout that is more suited to the demographics there.

If you flat is in a very new estate where clusters MOP one by one in a small time frame and they look like “template” kind of flats, then maybe to a certain extent you may see such an impact.

If not, don’t just based on this to determine your objective in selling.

Sometimes it is not so straight forward.

There are many other factors to pay attention to.

If you are unsure which category you fall into, feel free to drop me a whatsapp and we can take a look together.

https://wa.me/6582237373

“A contractor today” 😅😅😅Checking in the status of some ongoing works for this unit before listing it up for sale.This re...
14/02/2022

“A contractor today” 😅😅😅

Checking in the status of some ongoing works for this unit before listing it up for sale.

This retiree owner has already completed their purchase and moved in and was ready to sell this place.

Can’t help but think about how we could possibly improve the selling of this place with a better price.

This unit is in an okay condition – however can’t help but notice there seems to be too many built in furniture in the bedrooms that looks a bit dated and overly personalized.

Likely – it will lead to the next buyer coming in and perhaps think

“Woah, all these NEED to hack and renovate, will cost some money”

And usually this will give them a reason to try and press down the price and prevent them to be willing to pay more.

Usually decluttering the place, give the whole unit a fresh coat of paint and add in some props are some of things I like to do.

So, in this case, we went a step further and decided to remove all these fixtures before giving the whole house a fresh coat of paint before listing it up for sale.

The objective is to become an unit that is generic and will suit to majority of the buyers out there.

NEED to renovate and CHOOSE to renovate can make a very big difference.

Once all these are done – we are allowing this unit to give the potential buyers an option to move in with little to no works should they CHOOSE to do rather than NEED to do it.

Which group will be less likely wanting to pay a better price?

I am sure its those who feel that the unit NEED a lot of works to be done right?

If the unit is improved and packaged in a way that this unit nothing much to do…

Essentially move in ready and any other additions are up to personal choice – this will already remove the “costs of necessary renovations” when putting up the offer.

If you CHOOSE to renovate - hey that's on you right? lol

Of course – there is a small sum of money and few days to be spent to do this and achieve an outcome.

But most of the times the returns do make sense.

Cause an improvement can work out to be $10K or $15K more in the selling price when we are only paying a fraction of it for the works.

Of course this might not be applicable all the time – as this is not a template solution.

Can’t wait for the revamped outlook!

The difference between “letting” a buyer like your unit and “making” a buyer like your unit.A simple change of 1 word.Bu...
10/02/2022

The difference between “letting” a buyer like your unit and “making” a buyer like your unit.

A simple change of 1 word.

But a huge amount of work and differences in between the results.

I chose to "make".

What are the differences?

The first one is to let nature take its course.

Numbers game, keep showing and showing - then hoping that someone will choose your unit.

This strategy still can work during a good market as there are many buyers are in the market.

But what about a not so good market? You may not have the numbers to do it.

So as far as possible - I make sure I create the environment that buyers will naturally fall in love with it.

So I don’t need a lot of buyers.

But I just need everyone to fall in love with it.

How not to think about this unit when the whole setting is so nice right?

Where else can you buy such a well-maintained house - compared to the rest of the units in the market?

Even you are buying to rent it out – such a well-maintained house is prepared to let you have zero downtime with no works to do, can collect rental immediately and tenant also feel good compared to other similar units.

It also create the environment that there is an option to live in the unit in future.

This is probably why I managed to sell this unit first before others despite not being the most affordable one in the whole development.

So happens that it was also transacted at the equal all time high for this particular unit type.

Really love this peaceful greenery view behind me.

Closing deals and getting paid commission is a a great feeling but it is just part of the satisfaction. Recently checked...
06/02/2022

Closing deals and getting paid commission is a a great feeling but it is just part of the satisfaction.

Recently checked in with one of my earlier upgrader from cck and felt happy to know they have finally settled into their new home after a rather draggy process over a year.

This move faced certain challenges legally but eventually we managed to get to where we wanted and looking back it was a good deal that in today's market is impossible.

I remember clearly activating them to go and look at this place within very short notice on the same day we committed eventually as it fitted everything they wanted - as being on ground I knew it was going to be challenging if we missed it.

Probably why it was part of the reason for all the hurdles we met with the previous owner having thoughts of pulling the plug at the very last stage.

Fast forward - we managed to see through the whole transition smoothly though in between I was really worried for them due to the inconvenience in between all these drags.

Even my paycheck was delayed 🤣🤣🤣

But like I mentioned - it's really not all about the money.

Not saying I am rich nor I do not need money - I still have my family to take care of.

And being able to do that while taking care of other families in this part of their life journey by bridging up the gap between the market and consumers really gives me the best motivation to work everyday.

A very regular question I always receive from people is this:Is this A worth buying or is that B worth buying?How I wish...
03/02/2022

A very regular question I always receive from people is this:

Is this A worth buying or is that B worth buying?

How I wish that I can answer you directly with a yes, it is good or no it is not.

But it is not that simple.

Cause there are a lot more things to understand when it comes to getting a good investment or good deals.

For example, you ask me: is The Sail At Marina worth buying?

I can’t tell you it is not worth it if you are looking at long term rental collection.

The rental yield is decent and the rentalbility is good too.

But perhaps you are buying this because of capital appreciation investment.

Then this might not be the best kind of purchase.

Maybe new properties can do better.

But are ALL new properties able to do better?

No, not really as well.

New properties - there are 1 bed, 2 bed, 3 bed and 4 bed

All have different investment characteristics.

You won’t be buying a 4 bedroom and keep it for long term rental returns.

It might not be the most ideal as well.

There are too many considerations and scenarios to pay attention to.

I really wish I can give you a straightforward yes or no answer.

But to be responsible to you - I really can't do it this way.

"Dressing up" my own unit this time😅😅😅Happy lunar new year to all!May the year of the water tiger bring peace, blessings...
01/02/2022

"Dressing up" my own unit this time

😅😅😅

Happy lunar new year to all!

May the year of the water tiger bring peace, blessings, great health and wealth, abundance of joy and happiness!

😊😊😊

Recently met an owner here who plans to pay ABSD first to upgrade to a new condo. So can avoid moving more than once.And...
26/01/2022

Recently met an owner here who plans to pay ABSD first to upgrade to a new condo.

So can avoid moving more than once.

And then claim back the ABSD after selling the current place.

The end goal - for better growth...

Previously, I met a few other families here.

Just to name a few,

Assisted one to sell off their 5 room and right size for retirement reasons and to a better location for their needs. Assisted another and sold their 4 room and went for a bigger space like an EA as they planned to ask their parents to live together.

Everyone having different needs and wants.

it is very important that I do a simulation to let them visualize the pros and cons involved before they take any action.

We do our best to avoid surprises in the future.

There is no one perfect solution that apply to everyone.

And, the decision everyone make is NOT always about making money or not.

So it is really important to put myself in the client’s shoes.

Understand what they are going through currently and what will they go through if they were to proceed.

The real needs and wants.

(In my experience and observation, many needs and wants in your current mind might not be real)

Some people change their needs and wants after the assessment.

They realize that there are higher priorities and more essential needs and wants - that they never considered.

From there, we discuss and craft up with the best solution that is customized just for your family.

We do our best to inject some element of growth involved as much as possible.

From there, then we can move forward together with peace of mind.

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