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 30 yrs old Msian Investor on SG Business Times, Portfolio worth MYR10m (SGD4m)

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prody
post Feb 19 2013, 07:14 PM

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He has a 10 million RM portfolio now
Let's assume he bought them all at around 5 million RM.

Monthly repayment would be at about 21.5k (40 years, 4.2%).
Not sure how he got the loans. smile.gif

His 3k income is after loan repayments.
prody
post Feb 19 2013, 10:14 PM

Dance while the record spins
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QUOTE(kenji1903 @ Feb 19 2013, 09:27 PM)
hmm... RM10mil portfolio, RM8mil loans... meaning around RM2mil nett... lucky he bought early... from the article... seems like half of the properties are under RM300k each, lucky guy thumbup.gif
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Damn, didn't notice the 8 million RM figure just now. This guy (and some others, I doubt he could borrow that much) must be pretty nervous at the moment.
prody
post Feb 20 2013, 05:40 AM

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QUOTE(chess_gal @ Feb 20 2013, 02:12 AM)
smile.gif of course he is not the only one. There are many more, quiet investors who did better than him but keep a low key profile. But to keep our free club going, reporters got interested on how we survive without charging a fee to members, thus this interview. We were also invited to speak at Singapore property event and by words of mouth, some media got to know us. thanks to mr Ho chin soon, Gavin tee, Thomas Ong, who recommended us.

So we thought, why not? A lot gurus out there charging exorbitant fee to teach investors, then resell them deals. We don't charge fee and if you like us, you join else you can attend free seminar for fun n network.

Investing is our passion, if you think we are bragging, I apologise. Intention is to bring investor together to get more fire power and earn money together. Note that we only buy studios not meant for local use. Studios usually tenanted by expat or foreigner. I am against the idea of buying residential meant for local use and low cost housing.

Now we are moving into commercial and hotel investment, again not impacting the general public. So, I think Ryan and myself are investing ethically.
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Let's say 100 young people read this story today and start to emulate it. How many of them do you estimate will have a better life because of it?
prody
post Feb 20 2013, 09:13 AM

Dance while the record spins
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QUOTE(Donald Trump @ Feb 20 2013, 06:34 AM)
May be bankrupt with lots of debts especially credit card debt
*
Looks like I probably won't get an answer. smile.gif


prody
post Feb 20 2013, 02:58 PM

Dance while the record spins
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Joined: Apr 2005


QUOTE(kenji1903 @ Feb 20 2013, 02:50 PM)
its more like a nearer alternative... i have a singaporean relative skipping iskandar and monitoring KLCC instead because he felt it was... too aggressively promoted...
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I know some people who invest quite a bit in Iskandar, but to me there are two major problems:
1) Price is already far too high for locals for these popular launches (>700 psf)
2) It's freaking big
prody
post Feb 20 2013, 04:48 PM

Dance while the record spins
******
Senior Member
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QUOTE(Joink @ Feb 20 2013, 04:10 PM)
It is possible chief. Just need to roll using rental. Salary doesn’t need to be that high. If joined names & depending on the agreements, your portfolio value might not be entirely correct.
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I never understand this part, unless banks are very lenient.

Example:
Income 6k, available for installment 6/3=2k, rent out at 2k
New income 8k, available for installment 8/3=2.67k, rent out at 2.67k
..
..
..
New income 9k, available for installment 9/3=3k, rent out at 3k (this is maximum)
prody
post Feb 23 2013, 10:24 AM

Dance while the record spins
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QUOTE(New Klang @ Feb 22 2013, 12:22 PM)
The banks who provided financing to him cannot be wrong.
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Yes they can.
prody
post Feb 23 2013, 10:25 AM

Dance while the record spins
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QUOTE(chess_gal @ Feb 23 2013, 10:17 AM)
Obviously you have not read faizul ridzuan book. An average chap accumulating massive portfolio. Read his story again, he borrowed to his max thus came to sg to earn bigger currency and at the same time jv w partners. Do you think the partners are so stupid to invest w him if he is so dumb like whst you guys assumed? It is like a private investment fund but just investing with close friends and partners.

We submit income tax and pay tax as we believe the more tax you pay, the higher chance of you getting bigger loan. Shows you are profitable.

I can vouch that his family is not rich. Read the story, dad is in navy, a government servant.

Don't blame your parents for not being rich to give you success you desire but work for your damn own success. No risk no gain. Most ppl regret for things they did not do rather than things they did.
*
Anybody is capable of making a good investment.
Anybody is capable of making a bad investment.
prody
post Feb 23 2013, 07:44 PM

Dance while the record spins
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QUOTE(Donald Trump @ Feb 23 2013, 11:11 AM)
Walau eh imagine having a girlfriend that can go all out to help you in your property investment
By the look of it this gal is by far more aggressive than the partner
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Yeah, surprising he isn't here himself.
prody
post Feb 23 2013, 07:49 PM

Dance while the record spins
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QUOTE(joeblows @ Feb 23 2013, 11:30 AM)
A lot of dumb people in Malaysia.

If compared to this guy, Genneva is an even bigger success story. Managed to songlap RM 1B then run off. tongue.gif
*
Anybody can lose money.

Stories like Geneva make me doh.gif

 

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