Conversations With Ah Peng

While waiting for Jill in Potong Pasir, I sat in a coffee shop and met Ah Peng. He was an old army pal. That was a loooooong time ago. So long that a couple of our friends have passed on.

Ah Peng knows I have been investing in local properties and here were our conversations.

Ah Peng : Hey Marko, I heard from our buddies that you are now sibei-ho-say, eng-eng-cheng-cheng, kai-lai-kai-kee ….. (in hokkien, it means living a good life with lots of free time)

Me : Something like that lah. You know lah, some people like to talk-cock-sing-song lor. … (in hokkien t-c-s-s means chatting, b-s and making jokes)

Ah Peng : I also want to be like you , buy properties to earn money.

Me : Sure, I will be most happy to share everything I know with you. Its easy and simple.

Ah Peng : Now I buy you another cup of coffee can? You got time right ?

Me : Yes, I have time. But this will take few days and nights just to share you with the basics on how Rich People get rich using local properties. There is homework needed. I know a few of them. They are always walking the grounds and paying attention to market movements.

Ah Peng : why not you just tell me what to buy ?

Me : Cannot ley. Everyone is different. Some got money, some no have. Some got CPF, some kosong. Some young, some old. Some bankrupted before. Many people different conditions. Different folks, different strokes.

Ah Peng stunned and jaws dropped.

Me : There are “schools” out there telling people that all their problems can be solved by buying their recommended properties. I am a student to most schools in Singapore. After a few years, I checked back with these kaki again. Most of them are still in debts. A few did make good $$

I ate my toasted bread with butter and kaya …. Its heaven….and wonder who was the clever guy who sliced the bread and slide in these cold butter and kaya. I used to miss this meal when I was overseas. Now I can get it whenever I want because I no longer travel for work.

Ah Peng interrupted while my mind was away, enjoying these flavours in my mouth.

Ah Peng : If not, how about this, I give you money and you just invest for me .

Me : Cannot lah.

I paused to let the last bit of flavours stayed in my mouth before I drowned them with coffee.

Me : Come lah, spend a few days with me. Learn how the rich becomes rich using local properties. The exact system that gets me to where I am today. It took me 15 years to buy back my time. I have improved the system and most ppl can get out within few years. Some, in months. It all depends on you.

Ah Peng, losing interest: Ok. Let me think about it.

He glanced at his watch and told me he had to go and he left.

Ah Peng is always like that, even during the army days. Busy but always have time when he wanted. And disappear when he lost interests.

I have met a handful of people who think that there is a certain property that he/she can buy and become rich. This might be true in the old days before Govt implements the cooling measures to curb speculations. Many of my peers made lots of money then. Me included.

However, new rules mean new game. And this ought to be played differently.

There is no one-property that will suit all these days. In the past maybe yes, now, almost impossible.

What is perfect in the past may need some tweaking now.

The new method is to treat the properties like a basket of fruits. That means resi and non-resi properties. Also, some long lease, some short lease and a couple of freehold properties.

Like fruits, they must be replaced with new ones every few years to allow your monies to work hard so you can give yourself some slack.

Once upon a time, a good paper qualification can mean a good job with stable income and good life. That seems to be changing.

Adding a few streams of passive income thru properties, stocks and shares, reits, businesses or e-commerce may help one to thrive soon and possibly in the next crisis.

I know my friend Ah Peng left disappointed. He was hoping for a sure-win property to buy. Is there such a thing ? I don’t think so.

Will Ah Peng come to my class ? What do you think ? Please type a Y or N below . I love to hear from you.

Love,
Marko

Investor, Practitioner & Full-Time Coach