I have attended the above mentioned seminar on 5 April 2014, it is a year ago. I have documented my learning as below:
Have You Ever Wonder Why Certain People Can Shop for Properties as if They're Buying Shoes?
Or How Some very Ordinary People Can own Over 10 Properties in Less than TWO Years?
Owning a home where you can truly call your own represents the ultimate dream for many. Yet, the escalating property prices and the burden of loan repayment stretching into 30 years or more halt this ultimate dream from becoming a reality for the vast majority of this younger generation.
The young people of this generation are jokingly called the "homeless generation". This isn't a funny joke but a real concern among the public. Getting old and homeless and broke is a dire situation where no one would like to imagine when they retire.
So how do some very ordinary people can accumulate such a mass property portfolio when one is already struggling even before the first property purchase?
Affordability is the most fundamental consideration in acquiring property. Are you financially ready to buy another property? What can you do about it if you're not?
You and I know that buying a property is not just a simple matter of just signing on a dotted line when we see something we like. More often than not it can be the largest investment that one will make in a lifetime. It is a very serious investment that one must get right on the first try.
We see some buying houses as if they're shopping for shoes. It's easy that we just assume these people started rich in the first place. Yet, the truth is, many of them started off with little or no money at all. Most of them guard their secret investing strategy. They get richer and richer while the rest of the people gets poorer and poorer with inflation and rising bad debts.
The More Shocking Fact is These Property Tycoons are Under the Age of 30.
How is this possible? If it is possible for them, why can't it be a reality for you too?
We are privileged to have a very special property millionaire who've made it and is willing to share with you the M.A.G.I.C. Formula to becoming a multiple property investor. It does not require you to come from wealth. It does not need you to earn a 5-figure income from your day job. Nor does it require you to borrow money from loan sharks. It just requires you to be willing to learn this secret formula.
If you want to break free from the mass number of 'homeless generation', stop frowning over the exorbitant property prices, and be the minority number of property millionaire, the first step to do is make yourself available to come and discover this M.A.G.I.C. Formula and apply it in your investment strategy to be on your way to become a property millionaire.
Speaker Bio
Mr Steven Tan Eng Chong started from a very humble beginning. After graduating from Chung Ling High School and earned his Diploma from TAR College, he ventured into the food and beverages industry by starting his very own business at the age of 22. A short year later, he bought his first property. He had never looked back since.
Within a mere 6 years, Steven has become a property millionaire by building his property portfolio from 1 to 147 properties! This is achieved through a grouping investment model which he created at age 24.
Steven now sets up a personal mission to share with people with the same zeal to achieve financial independence, helping people transform and improve their quality of life through the property grouping investment system.
Example of his Penang Properties:
Sunny Ville
Bought 2010 @ $318K
Sell 2012 @ $415K
Capital $45K
Monthly Insrtallment $1250
Rental $1450
Holding Period=1.5 years
Villa Emas (I owned here too)
Bought 2011 @ $295K Marked up to 350K (No money down deal)
Sell 2013 @ $450K
Capital $0K
Monthly Insrtallment $1400
Rental $1200
Holding Period=2 years
Since already marked up 55K, $200 monthly negative cash flow is acceptable
Time Square
Bought 2011 @ $380K
Sell 2013 @ $650K
Others properties in Penang like: Mutiara Height, The Peak,Sri Nibong, Puncak Erskine, Pinang Emas
KL properties like Stapak PV15, Nilai
Johor properties:One Danga, Meridin, Eco garden, Seri Mutiara, Eco Botanica
Out of his 147 properties, below is the breakdown:
Residential (COndo): 113 units -> 77%
New launch (developer): 28 units ->19%
Auctions: 6 units ->4%
You can see that majority is from subsale market which is ratio 4:1 (Subsale:New launch)
He mentioned this year want to buy more from auction.
His model of success:
*Grouping
*Vision
*How to find good deal
- Below market price 10%-20%
- Rental return 5% and above
- Occupancy rate >80%
- Exit plan
3 Major Component of the Grouping:
A) Fund (Resources) - Only provide cash and not involve much work
B) Loan proxy - Loan/SNP name
C) Deal seeker - Person who handle a lot of stuff
All above 3 party are required to signed a "DEED OF TRUST" a Legal document to protect all party interes.
Guide line for the profit distribution as below:
A) Fund (Resources) - 30%
B) Loan proxy - 30%
C) Deal seeker - 40%
Why Deal seeker will have 10% profit more?Here is the explaination
-he need to do the job for 3 years
-get the money to paid all the bills such as maintenance, quit rent, etc
-Find tenant
-solve tenant problems
-selling strategies
-deal with proxy
-coordinate all stuff
-deal with funders
* few more that i not able to jot down.......
That's all from my notes taken.
From time to time, I have some GOOD Property Investment Opportunity that I wanted to share with you.
But without your contact and email, I would not be able to reach you!
I would love to invite you to join in my mailing list too, if you are serious in PROPERTY INVESTMENT!
All you need to do is just fill in the below form and I will keep you inform on the latest project that I am working on.
Thank you.
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