To inspire those who don't work overseas...and prove the naysayers (like my older relatives) who keep saying a job overseas is the only way to make it in life...I believe its possible to achieve goals early even for those working locally. Its all about controlling your lifestyle. I've built up a property portfolio in the 7 figures with an average yield of 6%, with a net worth also of 7 figures, and have never been based out of KL for longer than a few weeks at a time.

Fyi I have been in the workforce for 5 years and am in my mid 20s. No, I did not receive any boosts from my parents not even for studies (full scholarship with allowance) and they did not assist me in any way for any of my properties except that I stay under their roof and receive some moral support and family love.

To consistently invest 70-80% of income, may not sound easy but just ask yourself if you really need to drive that Jap or Continental car around in the traffic mess of KL? (I drive a fully paid off local vehicle and am frequent Mrt/Lrt user) Do you need to go on cafe-hops...? Why not just stick to one? Do you need a starbucks every morning? Make your own! Do you really need to have your entertainment outside? Have house parties with duty free booze. Is it a must to watch latest movies every other day? Go torrent or iflix or something. The list goes on...

This post has been edited by LoTek: Jul 15 2018, 09:30 AM

Invest/save about 70-80% of income. So the other 20-30% is for my indulgences.

I personally think property market now is in limbo, it's neither up nor down, and generally with terrible yields. Have to shop for months for each property, I usually view more than 10 units in a development before making offers. I like to concentrate only on high yield student rentals or Airbnb now. Oh yes, please don't buy from developer, 99% chance that you'll never make money fast enough to even meet FD rate. Burnt once already.

I'm not a JPA student. I actually did not complete SPM, but I sat for O and A levels as a private candidate, at an earlier than usual age, as a quick jump method to apply for my scholarship. It was from overseas: studied in the so called " Asia's No. 1 Uni" Didn't feel that way but it does open doors at times. I calc net worth as total assets (current cash+property/units/stocks @ current market value) - total liabilities (which are only properties loans). My job isn't a fixed salary contract btw, and I just achieved the net worth 7 figures recently lah, and it begins with a 1

This post has been edited by LoTek: Jul 15 2018, 10:01 AM

Yup only starting investing in props 3 years ago. I haven't disposed any property before... I worked on and off during study time, came back right after grad

Nolah like I said, am quite frugal in non investment expenditure. Will enjoy life by retiring early, not keep working to sustain a lifestyle.

Haha sex Don't worry friend, I'm pretty happy with life as whole, I get to travel on business so I don't feel the need to take holidays much and I can live without a good car. Rather be comfortable enough to not worry overly about finances than enjoy doodads. My income is like 95% myr and that's...not so good haha Income is useless without self control...I have a few friends who are at my income level but with their BMWs and Iphones and what not, I can see why they have 0 properties and are in negative net worth territory.

Sure, prop I would buy from subsale, and press hard on the price. Developers all sell at future pricing, future promises, have to wait years to realize any gain (or loss), and you don't get to view the finished product and all yield/gain is hypothetical till then.

This post has been edited by LoTek: Jul 15 2018, 11:43 AM

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.

This post has been edited by LoTek: Jul 15 2018, 07:25 PM

Sorry about that man, I guess I'm not a good story teller XD. Yes agreed that field sometimes really determines the expected salary range... unfortunately in my industry, although the jumpstart sounds good to you, I cannot expect my income to increase much over the next say 20 to 30 years and actually has more likelihood go down as I age. So... that's extra motivation to get a steady investment portfolio asap.

I hope so.

Yeah I really don't like to see people spend so much of their income on lifestyle...with the justification that they can always continue earning. Never know what life throws at us.

Yields based on market price, total rental income p.a (income, not profit, in case anyone queries) is in 6 figures.





You know what this is turning ridiculous, as if I have to defend myself, stopped posting regularly especially with my old account due to noise, just starting to get busy with this account but I'm probably just going to back to being a reader Feel free to PM me if you want to chat.

This post has been edited by LoTek: Jul 17 2018, 10:51 PM

the testosterone level is strong with this thread

Can we put all these behind us before another good thread gets sent to kopitiam?

To answer Q above, I have 40% of liquid assets in Asnb, 55% in FD and a paltry 5% in UT. Own a couple of leveraged properties. P.s., D.o.b 199X. Hope to achieve true independence by 30 yrs old, more than 80% of income going towards investment or savings.

No sorry, my usd fd is when income received from overseas in usd. never changed usd before

pick fights on lyn jk

Badminton, gaming, reading, some movies, and sipping tea while watching water fountain. Anyway I'm not retired, not even 30 yet. Still working to FI.

Covid is going to set plans at least a few years back if not a whole decade.