Learning how to invest in real estate will take a lot of time, research and even suffer losses from some hard-learned lessons.

However, with the right preparation and persistence, one can set him/herself up for lifelong success and reap lucrative rewards with real estate investment.

While the investment landscape in Malaysia has changed significantly over the years, the required skills to succeed in real estate investing have not changed much.

Here’s some of the skills that are still relevant and required in today’s property market:

1. Ability to conduct your own analysis and research

Research and analysis are crucial in ensuring the success of your property investment. You would not be able to make informed decisions if you did not do your homework. 

Hence, you need to start paying more attention to the news and research reports released by investment firms. By doing this, you can have a better understanding of where the market would be heading next and even identify a few good deals.

2. Financial literacy

Financial literacy is one of the skills needed for a successful real estate investing. 

You need to be smart with your money and manage it well. Understanding your financial situation and cash flow and how to manage it properly can mean the difference between investing failure and success. 

Furthermore, it is important to set short-term and long-term financial goals before investing in property. 

This is because, when you know how long you are investing for and what you hope to gain in the end, you can put an investment plan in place to achieve it. The best investments will be the ones you can live with in terms of risk and reward.

3. Build a strong network in the industry

Networking is fundamental to the success of any business, and real estate is no exception. 

Surround yourself with professional and trustworthy people in the industry, such as property agents, bankers, conveyancing lawyers and fellow investors will definitely bring tremendous benefits to your real estate investing journey.

Through these connections, you can easily gather first-hand news on the best deals in an area before many others do. This will give you an edge over other investors in many aspects.