Auction properties investment .

[andylim]

Hello to all,

Infact,most millionaires accumulated their wealth through real estates and I sure you might had invested one or two.
The Question here is some of you are in the right path while some might not .eg. Properties in Bukit Beruntung and etc.
Here contribute your SUCCESS CRITERIAS FOR THIS COMMUNITY TO SHARE OR FAILURE becos. of eg.false advertisements,promises etc.
Now if you care to find out "AUCTION PROPERTIES ARE HOT IN MALAYSIA", WHY???.
Firstly,Mentality habits follows blindly what are told or tips.
Secondly, Knowledges not apply.
With many more reasons , the trend of auction properties put into the market are grasp for the knowledgeable.

CONTRIBUTE YOUR KNOWLEDGES HERE, SO LET THE PLAYING FIELD EVEN.

[Maxforce]

No lah - not all millionaires
but got many millionaires got it thru real estate-lah
auction properties? well, personally i feel not cheap enough loh in msia.

[earwax]

Yah, most property auctions in Malaysia don't sell. This means that the starting price is too high and this means that it is not a real auction. 

[equilec]

I TOTALLY AGREE!!!! AUCTIONEERS ARE TAKING US CONSUMERS FOR A RIDE!!!!!

Now let me disclose something to you which might open some eyes. Check out some of the auction in some of the really nice places like cheras and ampang. Now not all cheras and ampang are bad, so I you scan thru and compare the auction of these places and say... star classified. The price is are the same. Therefore, it is not a real auction as earwax says.

Now these bloody wankers are not stupid. They actually got or colaborate with banks to 'auction' off their non performing bank loan. And if they can get it at market price, the bank gets to clear the loan, the wankers get it's auction cut, and if there is a real estate agent involve then he/she will get his cut. Then the borrower is free. And guess what?! This will make you laugh... the borrower will not be blacklisted from bank negara.

When a property is auction of it is because the borrower can not pay... thus the borrower should be blacklisted. But because the bank is so nice and all that, they propose to the borrower this idea to get the property sold.

At the end of the day, who pays for it?! The buyer.

Having said that, there are some diamonds auction around which are great deals. We just need time and effort to look for it. I myself have personally done one good auction deal 2 years back. Since then, I have found none so far that I believe is a good auction deal.

One advice that I can give is, do your research carefully if you do come what you think to be a diamond auction deal.