Business Times Interviews - Starting Young

[Chess_gal]

Wow, what a story! Suicide in the house? Which condo is this? Not the one where they found a body stuffed in the fridge right. That's not suicide but murder anyways. And yes, tenant mgt is not easy. property investment is like business. Agents, lawyer and contractor as your employee and tenant as your customer or semi employee.

[BlackCat]

I don't think investing in overseas property is a good idea.

A property is a lot more than a picture of a pretty house/garden/condo on a brochure. Is the area safe? Are there amenities nearby? Availability of public transport or commute time? Is the neighborhood friendly? For the type of people you are renting to (expats/middle class/students/working class), what are their priorities? If you want yield, you want something that people want to live in and can afford to live in. Think about the effort you put in to 'house-hunting' for your first new home (HDB or whatever) for you and your (expected) family...how are you going to do this in a strange country you know nothing about.

'Local knowledge' is hard to come by. Personally, I would not buy property in a city without living and working there for a few years. Maybe can consider it if you had if you had family or close friends there.

[pianist]

I don't think investing in overseas property is a good idea.

A property is a lot more than a picture of a pretty house/garden/condo on a brochure. Is the area safe? Are there amenities nearby? Availability of public transport or commute time? Is the neighborhood friendly? For the type of people you are renting to (expats/middle class/students/working class), what are their priorities? If you want yield, you want something that people want to live in and can afford to live in. Think about the effort you put in to 'house-hunting' for your first new home (HDB or whatever) for you and your (expected) family...how are you going to do this in a strange country you know nothing about.

'Local knowledge' is hard to come by. Personally, I would not buy property in a city without living and working there for a few years. Maybe can consider it if you had if you had family or close friends there.

agree and this is in line for the case of chess_gal as her home ground is malaysia so she has the 'local knowledge'?

[Chess_gal]

Yes, that is why do not invest alone. Have your own team of consultant, be it your agent, lawyer, banker and friends residing in that area. Infact I know so much of a certain area due to my network. Successful property investor are a great bunch of people, the opinions that they gave are very objective and neutral. To be honest, my own dad was very skeptical of my investment, pouring cold water at my every deal. He got burnt during the down turn, and keep reminding me of the downside. I am 26 years, highly ambitious and if I dont do it now, then when? If I ever get burnt, I get another 20 years to get up again. I fear failure as well, who doesnt? But my hunger for success surpasses my fear to fail. It is very easy to just lay back, stay in the comfort zone, go on with life while you read papers how millionaires are getting younger. Facebook founder, Mark Zuckerberg is just a year younger than me!

I am not successful yet, owning 3 is not even a great feat. My portfolio could only afford me a small private studio in Singapore. Probably the smallest 300sf. The feature was suppose to inspire people that story of rags to riches do happen. You just need to take action. It is very easy to just lay back, overanalysis things and decided to just put in your comfort zone. I can never do that, I do not want to look back when I am 40, working round the clock, screaming boss and wondering why I am still stuck here. In my pursuit of financial freedom, it is not easy either. Fear of interest rates go up, fear of unoccupied units, fear of tenant burning down your house, fear of property crash, there will be a lot of fear out there. But my greatest fear, is not trying what I should be. If I failed, at least I could say, I have tried but it just wasnt meant for me.

Being alone in Singapore and away from my family, the closest people I have is only my 3 months old bf. My parents are ageing and I do not want to live my life stuck at work, away from my family for too long. I want to spend quality time with them. I cant go back now cause I have financial obligation to my family, if I were to go back, the earnings in Msia is barely enough. At least with some income from my property, it slightly lightens my burden.

Someone msg me about a forum on channelnewsasia on my feature, it was really bad. The comments were so rude and disgusting. No doubt I am seeking publicity but it was for my business, Alpha Marketing, hoping I could get some bookstore attention to display the books that I represent. Bookstores in Singapore were somehow skeptical on Msia real estate books. They gave me 101 reason why they wont take my books. Hence I turn to Business Times, but it focuses on my real estate instead. I used to visit a lot Msia forums, be it realestate forums or investment forums, I realised there are huge contrast between a Singapore forum and a Msia forum. In Msia forum, we do get a few rotten apples that criticises one's achievement but usually the positive feedback surpases the negativity. Somehow, I dont feel such vibe here in Sg forums, Hardwarezone, Channelnewsasia and even here where forumers are in in my opinion the enlighten ones. Singapore forumers probe a lot, tend to judge and doubt one's ability and achievement. And some were really rude as well. Having no compassion to one's feeling. Sorry for pouring out here, I just had a bad day, a business deal gone bad and bad comments at channelnewsasia.

[Musicwhiz]

Yes, that is why do not invest alone. Have your own team of consultant, be it your agent, lawyer, banker and friends residing in that area. Infact I know so much of a certain area due to my network. Successful property investor are a great bunch of people, the opinions that they gave are very objective and neutral. To be honest, my own dad was very skeptical of my investment, pouring cold water at my every deal. He got burnt during the down turn, and keep reminding me of the downside. I am 26 years, highly ambitious and if I dont do it now, then when? If I ever get burnt, I get another 20 years to get up again. I fear failure as well, who doesnt? But my hunger for success surpasses my fear to fail. It is very easy to just lay back, stay in the comfort zone, go on with life while you read papers how millionaires are getting younger. Facebook founder, Mark Zuckerberg is just a year younger than me!

Wow I really admire your attitude! I've always sort of regretted not trying to start a business or breaking out of my comfort zone when I was in my mid-20's (I am now in my mid-30's). I guess my dad is somewhat similar to yours - a salaried employee who also got burnt in property and they are quite risk-averse to starting businesses, preferring the "be a good employee" route. I was pretty fortunate to stumble across books on value investing in shares and managed to create some passive income streams for myself, otherwise I'd probably still be stuck at a 9-5 job without much clue as to how to go about chasing the dream of financial freedom!

I am not successful yet, owning 3 is not even a great feat. My portfolio could only afford me a small private studio in Singapore. Probably the smallest 300sf. The feature was suppose to inspire people that story of rags to riches do happen. You just need to take action. It is very easy to just lay back, overanalysis things and decided to just put in your comfort zone. I can never do that, I do not want to look back when I am 40, working round the clock, screaming boss and wondering why I am still stuck here. In my pursuit of financial freedom, it is not easy either. Fear of interest rates go up, fear of unoccupied units, fear of tenant burning down your house, fear of property crash, there will be a lot of fear out there. But my greatest fear, is not trying what I should be. If I failed, at least I could say, I have tried but it just wasnt meant for me.

This kind of humility will get you far. It's good to know that you are trying in spite of having so much fear and insecurities. That's something I can relate to, and I also want to wish you all the best for taking the effort to do something different from what most people do.

Being alone in Singapore and away from my family, the closest people I have is only my 3 months old bf. My parents are ageing and I do not want to live my life stuck at work, away from my family for too long. I want to spend quality time with them. I cant go back now cause I have financial obligation to my family, if I were to go back, the earnings in Msia is barely enough. At least with some income from my property, it slightly lightens my burden.

Reminds me that life can be tough during the wealth-building phase - I've personally gone through many challenges too in the last 5-6 years while building my wealth and passive income. I guess this is why we both live prudently, as we are aware of the unknowns and how it can trip you up. I see so many Singaporeans taking on debt while being confident they can repay it in 10-20 years, but the reality is that you may not even know what to expect in 1-2 months, let along "years"!

Someone msg me about a forum on channelnewsasia on my feature, it was really bad. The comments were so rude and disgusting. No doubt I am seeking publicity but it was for my business, Alpha Marketing, hoping I could get some bookstore attention to display the books that I represent. Bookstores in Singapore were somehow skeptical on Msia real estate books. They gave me 101 reason why they wont take my books. Hence I turn to Business Times, but it focuses on my real estate instead. I used to visit a lot Msia forums, be it realestate forums or investment forums, I realised there are huge contrast between a Singapore forum and a Msia forum. In Msia forum, we do get a few rotten apples that criticises one's achievement but usually the positive feedback surpases the negativity. Somehow, I dont feel such vibe here in Sg forums, Hardwarezone, Channelnewsasia and even here where forumers are in in my opinion the enlighten ones. Singapore forumers probe a lot, tend to judge and doubt one's ability and achievement. And some were really rude as well. Having no compassion to one's feeling. Sorry for pouring out here, I just had a bad day, a business deal gone bad and bad comments at channelnewsasia.

You can be assured VB forum is not like that, and people here will not stoop so low to call others names and lambast just because of jealousy or envy. We pride ourselves on having a high-quality forum where good ideas are exchanged, and for me as Moderator I also ensure that there are no personal attacks.

Please do enjoy your stay here and continue to contribute your comments. It's seldom that I get to hear comments from a lady with regards to investing!

[mrEngineer]

I have to check with my dad on the name on the condo. Anyway, it was a jump down case. After that my father sold the unit asap as the value was almost lost.

Anyway, I admire your courage and determination. I know of a couple of malaysians but only less than handful are investing back home like you at below 30s. Keep up the good work! At least what differentiate you from many others, is that you know that you have tried.

Property is not something for me now as I personally think it is overheated in Singapore and I am just focused to get my first HDB. After that MOP of 5 years, maybe I need to seek advice from you in investing in properties (maybe you are already a property tycoon!) Good luck! =)

[KopiKat]

Chess_gal,

I'm fully inspired after reading the article, your blogs and the replies you've given in this forum, even though I'm not that young anymore. I think most of us who'd done something that doesn't conform to social norms (of getting a well paying job and then just slogging through it for the rest of our life) will be able to identify with the fears that you'd to handle and the numerous skeptics that can be very unkind (even though some may be well-meaning).

As for CNA forum, I'd suggest you stop taking it too seriously as 99.9% of the posts are meant for entertaining or bashing prominent figures. IMO, VB is the best forum for serious investors in Singapore and Batam (I left out Malaysia/JB after reading your comments).

Good Luck and I have no doubt you'll reach your 5 properties target very soon and very likely, set new targets of 10, 100 and even 1000 properties next! (No, I'm not being sarcastic here).

[Zelphon]

Hi Chess_gal,

Do not take CNA forum too seriously...

CNA forum is good for gossips and to get the latest news because it is a very active forum...
I enjoy CNA forum for political bashings and such...

But VB forum is a high quality forum...
And most postings are constructive...

I think a lot of Malaysians working in Singapore are buying properties in Malaysia but you are probably the youngest I know that already own 3 properties in Malaysia...

I got a colleague (a Malaysian also) also looking to buy properties in Malaysia...
He joined Wendy Kwek's group and basically this group of people source out deals around SE Asia...

Once they seek out a good deal, they will go to the developer and ask to purchase in bulk from them (abet with a steep discount of about 20% from estimated launch price)... Members of the group will get to know the deal details and decide whether they want to be part of it....

So far, they go to only reputable developers and the locations of the properties (be it commerial or residentail etc) is pretty good...

I heard all these from my colleague and so for those people who are interested in getting started in property investment ...
Perhaps you can start from there...

Of course, buying properties in foreign countries comes with a lot of risks...
But I also think that the rewards are huge as well...

I am in the same phase as "mrEngneer" here, focusing on my 1st HDB flat (BTO takes so damn long to complete !!!!)...
And in the meantime, trying to find my niche in stocks dividend investment and build passive income...

[Chess_gal]

Thank you guys! The encouragement really made my day. Am going to meet Wendy next two week, to discuss potential business venture to display books I represent at her event. It is very hard to get the bookstores here to take my books. All these books are top seller in Msia. There is a huge misconception of investing in Msia, a lot ppl I know here has very negative perception of Msia property. Hence, I think I need to erase that mentality by encouraging them to read on books written by Msian authors. Bookstores here display books on prop investment by US authors which talks about US laws and regulation. Not in the Asia context.

[yeokiwi]

There is a huge misconception of investing in Msia, a lot ppl I know here has very negative perception of Msia property. Hence, I think I need to erase that mentality by encouraging them to read on books written by Msian authors.

You are a Malaysian and therefore, it probably makes sense to invest in Malaysia and ultimately, live and spend in malaysia.

However, for Singaporeans, we are faced with two big hurdles:

1) Change in policies and government. The CLOB debacle had shown that foreign investors interest may not be taken care of in time of crisis. How would I able to have any confidence that the Malaysia gov will not do a u-turn in policy or implement some monstrous penalties towards foreign investors when there is a property bubble, financial crisis or even some anti-singaporean policies?

2) S$ appreciation. The rental yield may be high but if S$ appreciation is taken into account for the last decade, the investment return would have shrunk significantly
http://www.x-convert.com/chart/SGD-MYR?period=10y

Lastly, I am not too optimistic about Malaysia economy as competitions from regional countries are coming very strongly,especially Indonesia.

But, that is just me, a Singaporean's point of view