Investing in real estate a good alternative to condos

SATURDAY, 12 FEBRUARY 2011 18:12 RIZAL RAOUL REYES / CORRESPONDENT

THERE’S a sound alternative to investing in preselling condominiums, according to a United States-based Filipino real-estate mentor and author.

In a recent interview with the BusinessMirror, Trace Trajano lamented that Filipinos, especially those working overseas, are in a buying frenzy in the pre-selling market.

“I am not exactly a fan of preselling condominiums because the money is tied up,” he said during the one-on-one interview in Makati City.

“I always find it tragic when I learn from conversations with overseas Filipino workers that they invest a lot in preselling properties,” he said.

“Instead, why not buy a foreclosed property like a townhouse or an apartment with several units for half the price?”

Trajano said there’s a good logic in investing in an existing unit because this will provide passive income through the rental of properties which will generate quick cash.

“In the long run, this will build long-term wealth from the appreciation of the property,” said Trajano.

Trajano was a recent visitor to the Philippines, where he conducted his “Think Rich” lectures in Cebu and Makati City.

He said the purpose of his lectures in the country is to attract a substantial number of Filipinos to be investors in real estate.

“I want to tell Filipinos that they don’t need to be oozing with money to hit it big time in real estate,” he said.

Trajano said his program can be called a form of entrepreneurship which seeks to dispel the notion that only the moneyed can invest in real estate. By using his Think Rich Quick System, Trajano said he is confident that the new breed of investors will become successful in the long term.

“I want to teach Filipinos that they can become rich even if they’re broke. I want also to tell them that they don’t have to be wealthy to become successful in real estate,” Trajano pointed out.

If somebody wants to invest in real estate, Trajano said a newcomer must “lean before you leap” and having money to invest does make the prospect an investor.

Moreover, Trajano said a new investor must learn the following vital pointers from his books. These are:

Learn your market. Find out what is selling, what property type and price range are selling or getting leased quickly, which location is hot and which are not; is the market going up or going down; what is the average peso-per-square-meter sales price in your market?

Learn “no money down” strategies. If you can learn how to make money with no money, then you minimize risks.

Get a mentor or coach. Don’t reinvent the wheel. Learn from those who have done successfully what you want to do and have done the mistakes you don’t need to make. Check out buyfirstdeal.com to meet people who can be your mentors.

Join a mastermind group or form one. It’s easy to get discouraged or distracted when, at first, you are not seeing results from your real-estate investing activities. However, sometimes there’s a gestation period between action and results. A mastermind group is a support group where you will encourage each other and hold each other accountable. Again, join buyfirstdeal.com to meet like-minded people who can become part of your mastermind group.

“Becoming wealthy begins with the mind. If you think you can become rich, you can become rich provided you have the right guidance, right mentoring and the right knowhow,” he said.

Trajano worked with Procter & Gamble as a research engineer, scientist and inventor.

According to the US Patent Office, Trajano has five issued/published patents on various fabric article-treatment devices. He graduated from the University of Philippines with a degree in Chemical Engineering.

He has acquired over $13 million worth of properties in the past six years--—from single family homes to multi-unit apartment complexes.

(FREE) Real Estate Investment Consultation, Call us now at +639173236123.