Jul 16 2018, 09:38 PM
QUOTE(LoTek @ Jul 15 2018, 06:26 PM)
I see my post is dubious to many.
Since my studies was fully covered including expenses, whatever I earned part time, i slowly brought back home, its 5 figures in SGD. And no I'm not in some illegal or immoral industry. I worked all sorts of jobs there in whatever spare time I had, photography, crew, promoter, tutor...anywhere from 8-50 sgd an hour type of jobs. Since starting full time work, which started in KL and still is in KL, my income has always been in 5 figure territory. I do not only rely on FD to grow savings that is not invested in props.
1st and 2nd prop is residential, subsequent is commercial. 1st was a mistake, bought from dev, yield is just over 4% which don't even meet the interest: am trying to exit. 2nd was the effort of 8 months of patience, non stop viewing and lowballing sellers until I got a unit more than 6 figures below market value. Believe seller was in dire financial difficulties, and he actually already had an interested buyer, who just wanted to push him another few k down from his asking, I offered to buy at the asking price and got it. Student rental play prop, yield is 9% counted at the market value, more than 10% at the price I got, incl renovate and furnish. I don't think I am not overestimating the value of my props: I take an average of the latest transactions listed on brickz and from the owner group chats.
Sorry to those who feel bad or disbelieve me, I'm being honest, I don't want to boast, I just wanted to inspire some young people my age
and its not about the income. Its about the discipline in work, expenses and investments. Some of my work days are as long as 14 hours when I need to. Never buy investments without weeks (or months) of study, made that mistake on my first prop. Never overspend. Some of my friends with 4k income a month probably think I earn less than them, from my lifestyle. I grew up in my grandfathers' attic, sleeping on the floor, eating rice with fruits and veges that me and my grandma stole from neighbours' gardens (sorry guys XD) or expiring old meat that my uncle, a wet market worker, was allowed to bring home. When I see people my age spending 110% of their income, with the 10% from parents or credit, and all the spending going to non investment expenditure, it just pisses me off.
Haters will always be hating and "grapes that we can't eat is always sour". So don't mind them. Impressive achievement you have there. I know of 5 figures earner of early 20's but are nowhere close to what you achieved due to lifestyle spending being the priority than portfolios growth. Since my studies was fully covered including expenses, whatever I earned part time, i slowly brought back home, its 5 figures in SGD. And no I'm not in some illegal or immoral industry. I worked all sorts of jobs there in whatever spare time I had, photography, crew, promoter, tutor...anywhere from 8-50 sgd an hour type of jobs. Since starting full time work, which started in KL and still is in KL, my income has always been in 5 figure territory. I do not only rely on FD to grow savings that is not invested in props.
1st and 2nd prop is residential, subsequent is commercial. 1st was a mistake, bought from dev, yield is just over 4% which don't even meet the interest: am trying to exit. 2nd was the effort of 8 months of patience, non stop viewing and lowballing sellers until I got a unit more than 6 figures below market value. Believe seller was in dire financial difficulties, and he actually already had an interested buyer, who just wanted to push him another few k down from his asking, I offered to buy at the asking price and got it. Student rental play prop, yield is 9% counted at the market value, more than 10% at the price I got, incl renovate and furnish. I don't think I am not overestimating the value of my props: I take an average of the latest transactions listed on brickz and from the owner group chats.
Sorry to those who feel bad or disbelieve me, I'm being honest, I don't want to boast, I just wanted to inspire some young people my age
and its not about the income. Its about the discipline in work, expenses and investments. Some of my work days are as long as 14 hours when I need to. Never buy investments without weeks (or months) of study, made that mistake on my first prop. Never overspend. Some of my friends with 4k income a month probably think I earn less than them, from my lifestyle. I grew up in my grandfathers' attic, sleeping on the floor, eating rice with fruits and veges that me and my grandma stole from neighbours' gardens (sorry guys XD) or expiring old meat that my uncle, a wet market worker, was allowed to bring home. When I see people my age spending 110% of their income, with the 10% from parents or credit, and all the spending going to non investment expenditure, it just pisses me off. 
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I hope so.
good for you
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