Free Property Seminar by Peter Yee

I attended the free property seminar by Peter Yee last Saturday with my brother. As stated in my post You Can Become Rich in Property, two free tickets will be given when you purchase the book. As expected, the free seminar will be his stepping stone to promote his actual seminar. A good last half an hour of the seminar was spent to promote his actual seminar.

I went into the seminar not expecting a whole lot of information to be obtained. I know its going to be short and any information shared will barely touch on surface only. What I'm frustrated about is that he used this free seminar to actually elaborate on points in his book. His book is actually easy to understand and I don't see the need to elaborate more on it.

I was expecting him to share some sort of tips or information that the general public do not know. Even if he did not elaborate on these information, at least we as participant would feel the need to enrol in his actual seminar to gain more knowledge about them. This certainly is not a RM 400 worth of free seminar. It's only worth the book price.

However, I did go back with some sort of information that I wish to share:

1. As I've stated in my post about his book, his favourite term is "in the direction of growth of a town". Based on his experience, the rate of growth is about 1 km per year. With this, you could estimate when will the town growth reach your area.
2. According to him, freehold land is a trend before the year 2000. Thereafter, all are leasehold land. Even though you still find freehold properties around, the logic behind this would be the land had been acquired before year 2000 and only developed now.
3. When there are lots of advertisements in newspapers on perishable items, that is a sign of recession. When time is not good, it's certainly a high time to buy provided you are well prepared for it.
   
4. Simple signs of a motivated seller are; big "For Sale" banners around the property, many banners in one particular property and worn out banners at the property. Look out for these signs guys!

During the seminar, we did discuss about the 5% Real Property Gain Tax (RPGT) that was recently announced in Budget 2010. This is what probably would happen: Seller will probably lower down the selling price in S&P to avoid paying higher tax. In return, with the lower selling price, the buyer will be paying lower stamp duty. This is the same method used when you declare higher property value to obtain 100% loan from bank. It's just the other way round. Of course it would require both parties to agree on the documentation. These are all legal ways to avoid or reduce taxes paid. In the end, instead of curbing speculation in the property market as what the government wish, they end up losing money instead.