Start from zero! Another interesting approach by gen Y!

Today, I had the chance to read another book by a very own Malaysian Gen Y.

3 Years to a RM 10 million property portfolio by dexter Kim and WT Kam.

Another interesting approach and similar to faizul method. Both had used credit card as down payment but they are very disciplined to recover their loan on credit card which I personally think risky but they manage to do it.

Both of them had a very clear game plan in their hand. I like the way the projected to see how many property will they owned if they decide to take this route, etc. It give them clear target and develop the strategy to achieve it.

Although first I thought that these are young kids  will end up in trouble as they start buying property at the very young age and in a very orthodox way, I found one common thing that make these 2 gen Y survive and able to increase their portfolio to more than rm 5 million in less than 5 year.....

They have MENTOR..... They partnership with their mentor, leverage the experience and combine with their crazy idea... Boom... Cheaper, faster and better way!

Who would have imagine that to have rm10 million of property portfolio in 3 years is possible? Well, they prove me wrong..

Thank you for sharing the knowledge and the approached which definitely can be very useful in this era especially when property price are on the rise.

Pls download my property book today to learn more.

Faizul Ridzuan.. 23 properties by 30. .. interesting book

Salam,

Just had the chance to read another property guru's, Faizul Ridzuan... aka propertywtf.. where to find?

Interesting story and commitment by him to owned 23 properties in about 10 years. An average Joe, but he has the will and determination knowing that he couldn't make a day end if continue working for other people.

Good insight and a very rare approach indeed. I have to salute him as he spend hours doing the research, observe the crowds and making each efforts counts. It takes a lot of stamina to get to his level. Even I could not do what he did. He did everything, from auction, nego. Subsale, property flip, etc. However, I  found some things are common when I read his book,

My analysis:

1. Keep learning from others.

 He made every attempt to learn from the best. Seminar, met the neighbors, buy books, network in forum. Etc.  I'm totally agree on this as I mentioned in my previous blog. Never stop learning. We came in so many path and no harm in learning from other experiences. It may or may not work for you, but with the  knowledge, you can make less mistake in buying a good property. It not cheap investment so, do it wisely. Plus, you will learn faster and even at par with the experts. This is why he can do it before reached 30.. 

2. Research, research, research

When come to buying property, you need to do a lot of research and assessment of each property that you would like to buy. 

He spends days just to observed who lives there, demographic population, etc. 

You need to have a good set success criteria to match your research study before you decide to invest. I'll explain in more detail in my ebook.

3. Clear goal and target

This is very important when you want to become a good property investor. You need to have a clear set of goal what do want to achieve, how long it will take and how are you going to do it... 

He set his target to achieved RM 3 million before 30. I have different sets of target. 

Once you have a clear target, the next step is how are you going to achieve it.. He goes for quantity but in my case I'll go for quality as I do not have a good stamina as him. Although I have less property than him, in general the achievement are similar.

So, in general there are few ways you can do it. Follow your game plan.

One thing that I learn from his book is that, build up a good network of friends. Be it the developers, bloggers, real estate agents, plumbers, contractors, etc. They have the additional skill that you may want to use or leverage. For example, I have a team of contractors that able to resolve my tenant problem, ie broken fridge, leaking roof, etc. It is just a phone call away and good service.   In fact, some of them have my tenant spare keys!.. just in case.

My first book.. Azizi Ali... How to become a property millionaire!

Salam, 

When I bought my first apartment, I thought I was smart enough and clever. The apartment was very nice, located smack in busy ampang town, more than 1000 units of apartments, shoplot, swimming pool, high security, etc.. Boom, without further study and investigation I bought it!

As a first time buyer, I am eligible to withdraw my hard work of EPF saving for the first 10% downpayment and I thought I could sleep away and start counting on how much I could make once completed.

Until I found this book by the famous Azizi Ali. It cost me RM60 and normally, I never buy any book above RM 30. It was expensive back then, I did not like to spend my money on this book plus, who the hell is Azizi Ali...

However, It turn out to be my favorite book. I've read it over and over until I fully understood what property investment is all about. 

I realize that one thing that I did not consider when i purchase my apartment:

1) the developer track record and reputation. Yes, you guess it right, it was TALAM COOPERATION SDN BHD.

 The company was involved in all

sort of problem from cash flow to completion the housing on time. My apartment was suppose to complete in 36 months from S&P signing. 

It never came through. The company went bankrupt and had to be liquidated and manage by third party.

Until now after more than 10 years, I have never seen the key.

2) The apartment did not fall under HDA or they call it Housing Development Act.I have no power to bring TALAM to court to settle the LAD and also there's nothing else buyer can do but wait. Many buyers were angry and complaint but again, we will never win. Even Housing Minister did not have the power to pressure the developer.

Some of the buyer took the initiative to demonstrate but fails. Last time I heard, few buyer already passed away and never had to chance to see the completed apartment.

And all these knowledge recites in 'How to become a property millionaire' book by Azizi Ali. If only I could turn back the time and got this book much earlier.

My advice to all of you, invest some money buying books and attending seminar to learn from the best!

Moving forward, I learned from many other property expert and hit my first one million ringgit mark by 35 years old.. And that is from capital gain alone! 

My wife was very busy last weekend to do some house decoration and housekeeping. Rearranging the cabinet, books, etc. This is where I found my first property book under these pile of books and bring back the old memories.

Thanks Azizi for your sharing and right now, I am sharing my experience to the whole world so that everyone as ordinary as me can be extraordinary person.

Investment in knowledge is one thing that I will alway treasure  and no one can take away from you. If you apply it right, believe it or not,  more than 90% chances that you'll be become a millionaire one day!

Happy reading!