Last night, Jill and I had a nice Japanese dinner with two friends. We went out to celebrate their success. They had just bought two condominiums. Both properties are in prime location.
One was a new launch project which, based on our research and analysis, its being priced low due to current economic cycles (they bought a new condo in prime area for less than $1M when similar ones in that area is being transacted at above $1.2M). They should be able to pocket nice Capital gains when the project TOP in a few years.
As for their second property, they will be collecting the keys very soon and this property will be renovated and rented out even during this challenging times at very good rents.
Both properties are in very good locations with large pools of tenants. YES, even during this challenging times.
They told us that they were lucky. I told them not. There is no such thing as LUCK. You see, I was a boy Scout during school days. The moto is … BE PREPARED. When a person is prepared, he/she can spot and grab any opportunity that creeps up.
On the other hand, opportunities will just swim past a person who is not anticipating anything.
This couple, since joining our program, has been working together to count their dollars, worked on several scenarios, done their stress tests, worked out the timeline and actively hunting for great deals (not good deals, good deals are plenty these days).
They are not rich (in fact, they were told by a trusted agent that they could not afford a Exec Condo). The lovely couple would turn up for almost all the events we put together, even CNY party in my house.
I noticed that they were always actively exchanging notes with the other participants and sharing their stories. (I loved people like that because they will help build a community where people support each other to success). Both have full-time jobs, and have parents and young kids to take care. Yet, they found time to learn how to make their money work while they sleep, thus allowing them the luxury to stop working for money in a few years.
I gotto say this again, there is no such thing as LUCK. Its all about being prepared for the opportunities. To prepare, it merely means you must know where you are in life now (debts, assets, savings)…. have an idea where you want to be in future. With this general info, a good Coach can quickly suggest to you several possible, different solutions.
Due to the pandemic, plenty of opportunities will surface. My tribe and I are prepared to take up these deals. Many of us know that, just by riding this cycle, our life will improve from here. Passive income is a beautiful thing. It allows us to buy back our time, to do the things we love, not worry over expenses and even to choose not to participate in Recession.
Do you like me to share more stories about success? How about stories from our participants who have applied our system and gotten success? Average singaporeans and PRs. True stories. If you like to hear, please raise your hand now !
Investor, Practitioner & Full-Time Coach