Buying a good RUMAWIP can be a great way to earn a substantial income, but it’s important to understand that it’s not a get-rich-quick scheme. It takes a lot of hard work, research, and knowledge to be successful in a property hold and sell strategy, as RUMAWIP has a 10-year restriction on selling from the S&P stamped date. However, with the right approach, it is possible to make a substantial gross profit of at least RM 150,000.
The first step in buying a RUMAWIP is to find the right RUMAWIP. Look for RUMAWIP are located in desirable neighbourhoods, Residensi Dutamas Dahlia (FREEHOLD) located in Jalan Dutamas Dahlia 5 is one perfect example. Once you have identified a good RUMAWIP, you will need to perform a thorough analysis to determine the costs of repairs, the estimated value of the property after the repairs, and the potential profit which is hard because this will be 6-7 years later after vacant possession (renovation & repair cost will surely increase)
The key to making a substantial profit is to do the renovations quickly and efficiently. This will reduce carrying costs and allow you to put the property back on the market as soon as legally possible. Be sure to use high-quality materials and hire experienced contractors to ensure that the work is done correctly.
Once the renovations are complete, it’s time to market the property. This can be done through real estate portal like Property Guru. Be sure to highlight the features and improvements of the property to attract potential buyers. (Residensi Dutamas Dahlia was sold at 333 Ringgit per square feet in Jalan Dutamas)
The final step is to close the sale and collect the profit. This can be done through a real estate agent or through a direct sale to a cash buyer. Be sure to account for all closing costs and fees, as well as any outstanding debts on the property.
In summary buying and holding an RUMAWIP can be a great way to hedge against inflation, and while staying in it, you can maintain the unit with extra care, but it takes a lot of hard work, research, and knowledge to be successful. By finding an RUMAWIP GEM, it is possible to make a gross profit of at least RM 150,000. It’s important to remember that not every RUMAWIP is a good buy and some projects will be harder to execute than others.