Been looking at this option to explore if we can make money out of buying and selling properties, especially new projects in Penang and KL/Selangor area. There’s people i know who are actually making a living buying and selling properties. Well, at least it helps supplement their home income.
The reason i didn’t venture into this is the fact that i need quite a big sum of capital to play with. Well, initially at least, as once you started making money out of the first sales, you’ll have that profit to use as capital for next purchase. I guessed i have to get books on properties trading to understand more.
But i do realised one thing – shophouses are better money-earner than houses/apartments. But of course, it all depends on the locations. Something i got to learn more.
How long do I have to wait to sell house to make money?
Some sellers who want to take their time to find the perfect home, that one-in-a-million, will often opt to rent after closing. If the buyer doesn’t require immediate occupancy, the seller might rent back their own home for the amount of the buyer’s new mortgage payment. Or the seller might move out, put their belongings into storage and rent a furnished, short-term apartment.