I’m excited to see comments in my posts and messages in my mailbox. They can cheer me up even on a bad day.
The traffic of my blog usually surges during public holidays. Messages kept coming in during the recent Christmas, New Year and Chinese New Year breaks.
But I am still waiting for somebody who can drop me words like …
1) I also made my 1st pot of gold from properties!
2) Hey, I started buying from my younger days too.
3) I was (in a similar situation) before but I (used a different way) to deal with …
… but for some reasons, so far this doesn’t happen : (
Instead, I often get questions like …
1) When is the time to buy (again)?
2) Where to find a good buy?
3) How to (save to) buy the first one?
… that you would know the answers to all of the above if you’ve read my earlier posts.
Just in case you miss it. I am repeating myself with some quick answers:
1) When?
– When you mention the word “Property”, people respond in pain or in contempt.
2) Where?
– Classified Post.
3) How?
– Like running a company, minimize unnecessary spending and maximize profitability.
And do you realize that …
When you lament that every month you just earn enough to get by, many earn less than you manage to save more?
When you think that it’s impossible to save the 20 percent down payment, many follow their plans diligently every day to reach the same goal?
When you wonder how you can be a successful property investor, many have already reached there after years of hard work?
If someone manages to make it, people like to believe that lady luck must be smiling at him, that he must come from a rich family …
For if this is true, they would feel much better. They can sit back and don’t feel pressured to do anything.
I grew up in a flat with no bedroom. I could choose to work hard to buy my own flat, or forever occupy the upper level of a double decker bed.
When there’s a will, there’s a way.
I remember those days when I spent almost all my weekends and some weekdays after work on flat viewings.
I won’t miss reading every single book title and article in the web about property investment.
I won’t go to bed until I crunched all the numbers and did all the title search.
I know I was too addictive when I found eating and sleeping a waste of time.
In Outliers: The Story of Success, Malcolm Gladwell pointed out that,
Success is a function of persistence and doggedness and the willingness to work hard for twenty-two minutes to make sense of something that people would give up after 30 seconds.
By the way, Happy Birthday sweetheart, on your sixth month birthday!
I don’t dare to say I am as successful as you in property investment. I am not too sure how much then can be considered as a pot of gold. Though, I didn’t make my first profitable investment from property but I must say my most profitable investment in term of ROI is definitely from property.
I don’t dare to say I am as successful as you in property investment. I am not too sure how much then can be considered as a pot of gold. Though, I didn’t make my first profitable investment from property but I must say my most profitable investment in term of ROI is definitely from property.
Hey, nice to hear from you.
Glad to know that your property investment is profitable. Good for you! Can share your experience with me if you don’t mind?
For me, success is still a long way to go …
You can define “a pot of gold” to be hundreds of thousands, a million or millions. But it’s just a number and has no real meaning at all. I’ve like to define it as how much one learned from past experiences that can help to make better decisions in the future.
Hey, nice to hear from you.
Glad to know that your property investment is profitable. Good for you! Can share your experience with me if you don’t mind?
For me, success is still a long way to go …
You can define “a pot of gold” to be hundreds of thousands, a million or millions. But it’s just a number and has no real meaning at all. I’ve like to define it as how much one learned from past experiences that can help to make better decisions in the future.
Hi PS,
You mentioned that you sold all your properties including those units in older condos in the east.
If those condo prices dropped again during the next recession, will you pick up those properties again ?
Hi PS,
You mentioned that you sold all your properties including those units in older condos in the east.
If those condo prices dropped again during the next recession, will you pick up those properties again ?
Nope. It’s tempting to repeat the same success but isn’t that a bit boring?
When it’s time to buy again, I want to try my hands at something I’ve not touched before, maybe luxurious condos, development with unique features, shops at good locations, Good Class Bungalows, …
Nope. It’s tempting to repeat the same success but isn’t that a bit boring?
When it’s time to buy again, I want to try my hands at something I’ve not touched before, maybe luxurious condos, development with unique features, shops at good locations, Good Class Bungalows, …
hi,
i read your post with interest, and am impressed with the number of properties you managed to own at a young age.
just to share my experience, i bought a condo in 2003 with sgd 200k downpayment and sold in 2007, realized around sgd 850k in profit, which i reinvested in 2009 and 2010 for another sgd 500k profit.
right now, i only own a freehold terrace house in the east for my own stay (it’s worth around sgd 2.3m), and have around sgd 800k spare cash for investment. my wife and i are mid-30s.
would like to hear about how you build your wealth as well from properties. cheers
hi,
i read your post with interest, and am impressed with the number of properties you managed to own at a young age.
just to share my experience, i bought a condo in 2003 with sgd 200k downpayment and sold in 2007, realized around sgd 850k in profit, which i reinvested in 2009 and 2010 for another sgd 500k profit.
right now, i only own a freehold terrace house in the east for my own stay (it’s worth around sgd 2.3m), and have around sgd 800k spare cash for investment. my wife and i are mid-30s.
would like to hear about how you build your wealth as well from properties. cheers
Thanks for sharing your property experience. It’s great to enjoy the fruit of success from the early investments. Good for you!
For me, I couldn’t afford big properties in my younger years. So I bought small units in quality developments at good locations. I was also afraid of putting all my eggs in one basket.
Now I don’t have any investment property or property loan. I keep all assets as liquid as possible to wait for value buys in the next few years.
that’s great. how much liquid assets do you have now for value buys? do you keep them in reits or dividend-paying stocks? or corporate bonds?
Thanks for sharing your property experience. It’s great to enjoy the fruit of success from the early investments. Good for you!
For me, I couldn’t afford big properties in my younger years. So I bought small units in quality developments at good locations. I was also afraid of putting all my eggs in one basket.
Now I don’t have any investment property or property loan. I keep all assets as liquid as possible to wait for value buys in the next few years.
that’s great. how much liquid assets do you have now for value buys? do you keep them in reits or dividend-paying stocks? or corporate bonds?
I’m not interested in stocks/bonds and I don’t believe they’ll do much in a couple of years.
I am a big fan of Jim Rogers, Peter Schiff and Marc Faber. So you know where I put my money after I sold my investment properties.
I’m not interested in stocks/bonds and I don’t believe they’ll do much in a couple of years.
I am a big fan of Jim Rogers, Peter Schiff and Marc Faber. So you know where I put my money after I sold my investment properties.
Any advice for a newbie (with no money – less then a $1000 in bank acc, in my 30s, low income earner ) interested in the property market to get started in investing?
It is not important where you are now but where you want to be in the future. First of all, to earn a higher income and increase your savings, have a plan in place to work hard and excel in whatever profession or business you are in.
Any advice for a newbie (with no money – less then a $1000 in bank acc, in my 30s, low income earner ) interested in the property market to get started in investing?
It is not important where you are now but where you want to be in the future. First of all, to earn a higher income and increase your savings, have a plan in place to work hard and excel in whatever profession or business you are in.