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07-11-13, 14:46
http://www.straitstimes.com/premium/money/story/propnex-ace-gives-advice-buying-property-new-book-20131107
PropNex ace gives advice on buying property in new book
Published on Nov 07, 2013
By Joyce Lim
MR KELVIN Fong often gets asked when he thinks is a good time to buy a property. His reply: There is no "right" time.
To elaborate on this answer, Mr Fong, the No. 1 team leader at PropNex with close to 2,000 property agents under his leadership, decided to write a book on how to grow your wealth in properties.
"Nobody can time the market. You can't buy a property this year, with the plan to sell it next year and hope that its value will appreciate within a year," Mr Fong, 38, told The Straits Times.
"Timing is not the key. Price affordability is the key. Many people forget that they are buying assets, not liabilities."
In his debut book Property Wealth System, launched at PropNex's quarterly convention yesterday, Mr Fong gives readers a step-by-step guide on how to conduct their research before buying a property. It also included tips on how to assess potential upside and risks in properties.
Mr Fong, who made his first million in property at age 32, said his book is aimed at first-time buyers, "people who want to grow their wealth but don't know how" and even property agents.
"With the challenging property landscape in Singapore, a property agent's job scope goes beyond the buying and selling of properties. Property agents need to be financial planners as well. They need to learn to do the maths for their clients, just like a financial planner. Today's clients want to see the numbers tagged to their properties," said Mr Fong.
"With all the cooling measures, the private property market looks set to be stagnant next year, so what do the property agents do? They create savings plans for their clients through buying and selling of properties," explained Mr Fong, who has held the title of champion team leader at PropNex for five straight years, the highest accolade given to a team leader at the home-grown firm.
Property agent Avis Wong, 40, who was at Mr Fong's book launch yesterday, said: "We've always viewed real estate as either a roof over our heads or as an investment. It is thus refreshing to view real estate as a form of savings, which is really quite apt. Insurance companies sell their policies and endowments as a form of savings, so why not real estate?"
Nearly 1,000 copies of Property Wealth System were sold at the launch.
[email protected]
PropNex ace gives advice on buying property in new book
Published on Nov 07, 2013
By Joyce Lim
MR KELVIN Fong often gets asked when he thinks is a good time to buy a property. His reply: There is no "right" time.
To elaborate on this answer, Mr Fong, the No. 1 team leader at PropNex with close to 2,000 property agents under his leadership, decided to write a book on how to grow your wealth in properties.
"Nobody can time the market. You can't buy a property this year, with the plan to sell it next year and hope that its value will appreciate within a year," Mr Fong, 38, told The Straits Times.
"Timing is not the key. Price affordability is the key. Many people forget that they are buying assets, not liabilities."
In his debut book Property Wealth System, launched at PropNex's quarterly convention yesterday, Mr Fong gives readers a step-by-step guide on how to conduct their research before buying a property. It also included tips on how to assess potential upside and risks in properties.
Mr Fong, who made his first million in property at age 32, said his book is aimed at first-time buyers, "people who want to grow their wealth but don't know how" and even property agents.
"With the challenging property landscape in Singapore, a property agent's job scope goes beyond the buying and selling of properties. Property agents need to be financial planners as well. They need to learn to do the maths for their clients, just like a financial planner. Today's clients want to see the numbers tagged to their properties," said Mr Fong.
"With all the cooling measures, the private property market looks set to be stagnant next year, so what do the property agents do? They create savings plans for their clients through buying and selling of properties," explained Mr Fong, who has held the title of champion team leader at PropNex for five straight years, the highest accolade given to a team leader at the home-grown firm.
Property agent Avis Wong, 40, who was at Mr Fong's book launch yesterday, said: "We've always viewed real estate as either a roof over our heads or as an investment. It is thus refreshing to view real estate as a form of savings, which is really quite apt. Insurance companies sell their policies and endowments as a form of savings, so why not real estate?"
Nearly 1,000 copies of Property Wealth System were sold at the launch.
[email protected]