Jobs are necessity for everyone. Any of you loves your job very much and satisfy with your paid? Your boss really asks you work from 8am to 5pm? Have you ever thought of looking for higher paid job? How much you can save from your salary per month after deduct your daily expenses and all compulsory expenses like car petrol, home loans, car installment, children expenses and etc? I strongly believe majority of the employees are not satisfied with their jobs especially when we talk about their salary. Your employer or even my employer will calculate every dollar they spend which will compute into your job descriptions. So nothing comes free nowadays. That mean you get will get paid for what you work for and of course the more the better just like sales target. It’s a norm that sales job required us to achieved our target every month and if can they will push you to achieve beyond your target. This also happen to me. Sometimes it’s really tiring and pressuring knowing no matter how good you done today it will zeroes by tomorrow morning. I believe you will have same feeling like me if you are in sales line. Looking at myself, when I entered banking industry as senior executive climbing up to assistant manager after 7 years and with total increment of salary around 50% @ 7% per annum really make me sick of receiving such salary.
The Rules of 80/20
The rules 80%/20% really happens to me. So far I have spent more than 80% of my 7 years working life earning 20% of the incomes which I think it’s a worst investment that I ever made. Luckily I have spent the rest of my 20% time earning the rest of my 80% wealth in property.
My wealth building only started end of 2004 when I successfully acquiring first pieces of vacant land. My property ownership continue to increase till today and I hope it will continue to rise as my personal target for this year also has been set. Giving myself a pressure to achieve what I need in life is much better than been pressure by my supervisor to achieve the overall company profit right? Just to share with all of you, few of my rental properties has appreciated so much which enable me to cash out some of them through refinancing and top-up additional loans. Even though I’m running at negative cash flow now, but it’s very marginal and manageable to me. The positive part is that, in total I have cash out more than RM 300K compare to my initial capital invested which is less than RM100K. Yes that more than 300% increase @ 50% per annum (divided by 6 years since 2004). This is excluding my monthly rental income that continues to come in despite economy downturn. I don’t think your employers will not pressure you more during the last economy crisis. Some of you might get pay cut and your hope of getting bonuses is virtually zero. I got mine bonuses every year from my property appreciation. In fact, my wealth grows every second but a bit shaky last week after I decided to sell off one of my condominium to finance my purchase of commercial unit. But at last, I decided to call off my disposal of my condominium as I know the value going to be more due to its location, environment, size, and surrounding development. The appreciation of this condominium is equivalent to more than a year working income for me. Yes more than 1 year working income but I get it without much effort after purchasing this property in 2006 for rental collection.
Dear friend, my job gives me 7% increment per annum while my property give me more than 50% increment per annum!! 20%/80% rules right? Bear in mind, the appreciation equity is only from my rental portfolio excluding my vacant land appreciation and my share investment. If I include in, I think I might as well resign from the banking and focusing more on my property acquisition. Needless to say more as the time will not wait for you. Please start somewhere somehow today and continue acquiring good location properties as time will prove how success you will be 3 years from now.
As I always say, if you purely depend on your working income to built your wealth, until the day you die also you WILL NOT MAKE IT. Please don’t try NOT TO UNDERSTAND WHAT I TOLD YOU TODAY.
Who take care of your rise bowl?
It’s a fact in life we have to take care on our own rise bowl as your employers will definitely not going to take care of you leaving you a comfortable living. You will only realize the scary part after you reach 50 years old and your real nightmare only begin after golden ages of 55 years old. Wake up now knowing early birds will have more worms to eat. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
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“I think I might as well resign from the banking and focusing more on my property acquisition”
.
CK
Though you may share your reflections, i feel you are not in touch with today’s reality of life
Reality one: Salaries have not caught up with INflation. Salaries today are way way behind the inflation curve from the 80s. In the mid 80s, a fresh engineer was earning Rm1300p month. Today, hes earning Rm2,000p month. A corrolla those days was Rm16,000 cf with one at Rm110,000 today. Inflation has gone on a run.
Reality two: A bachelor has hard time surviving on that salary, let alone a family.
Reality three: Inflation in the last two years have reared its ugly head in a major way. Thats why the price of EVERything including properties have rocketed in the last 2 years. AND it will continue as the world prints currencies in a big way.
Reality four: subsidies in Bolihland will go and GST will come, adding more to the family financial burden. The govt cannot continue to give free stuff. Thats why they are talikng about high income blah blah. How to have high income when the whole country structure is based on unbalanced trade and economy? No efficiency , no added values production chain, no R &D and innovation makes high income a pipe dream.
So what with all these realities? It makes the path to achieving what CK has achived all the more difficult. Very soon, the families who can afford a terrace house will be very few and far in between, let alone having a property portfolio. JMHO views of this very sad country…
Hi,
Happy Investing.
SAD COUNTRY, I love this words. But bear in mind, nothing much you can do. Please focus more on your own rise bowl and bear in mind even if you dont start investing today, you will continue giving me all this reason..or might be more as human in nature is good at finding reasons to proof themselves that they are right
You cannot Grow Land..CK Wong & MY DAD
Ther fact is not evryone will make it in property or rather not to be bothered about the subject of property investment . They would have thousand and 1 reasons or excuses not to. They would like to stay where they are as a 8 to 5 workers and I respect them. Because as I have mentioned in this blog before , not all would be Trump, Kyosaki,or Buffet. So in short . The 8 to 5 workers are there to support a stable society ! They deserve evryone respect.
When someone is employing us , he is leveraging on our time. It’s not easy to be a descision maker as you will not be able to satisfy everyone. As the so call boss has his own boss, board of directors or shareholders to report to. End of the day, the company is in business and must make money. But if anyone should start criticising his boss becuase of his poor judgement or decision . And you think you can do better than him then I think it’s time to move on to another job or to become a boss himself. It’s no point to stay back to continue criticising the boss or the company and become bitter about as it will consume you!
I believe one can turn this into a possitive force and move on. A good book on this topic is ‘ Who Moved My Cheese?’ by Spencer Johnson.
For CK, What you have achieved are really commentable and i shared your thrill in making use of your 20% of your time to secure 80 % of your wealth.
Azlan
HI,
That why only 1 out of 10 is rich. The rules never changes. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Hi CK Wong & Azlan.
another good sharing from you guys. I am sick & tired too by working & giving a lot of my time in my line of work. I want to do it because I like to work, not because I have to earn my living. I plan that if I decide to stop working, I can afford to do that. 
Time will tell who wake up early ( p/s : understand the message from CK Wong ) will benefit from all this knowledge. Thank you again, guys.
Hi CK,
Another fantastic sharing – and it is very direct and true. Your advice reminds me of what I read a long time ago. There are only 3 types of people in this world. 1) Those who do not know what is happening. 2) Those who watch things happening. 3) Those who make things happen. No matter where we are, even if the streets are all littered with gold & diamonds, we will not make anything happen if we do not bend down and pick it up. The truth hurts because we rather take the easy way out by looking for excuses. In every small town in Malaysia, there is also a kampung champion who makes it. If we said all the millionaries are in the big cities, this is a myth. The reality is we will be falling further back in the marathon of life if we do not find some niche to start-up our plan. Like the wise man says, most people fail to plan – but if we have a game plan (to win like your chess game in life), we will definitely succeed in life because nobody plans to fail. Sometimes we need a kick from behind to realize that if life is not fair & equal for all…
Hi CK Wong,
It’s really interesting to read you blog. It caught my attention when I browsed thru the net for potential properties in Sabah.
However, there is something that I doubt for when I referred back to your blog on “Shopping Mall in Kota Kinabalu”. What I was told is People in Malaysia tends to buy a handful of properties in hope of generating more rental incoming and resell it at a promising price. Now these people keep holding the properties for the time the unprecedented growth in economy. When more investor hold their properties, less people have chance to kick off with low price investment. It wasn’t until the price sour up to the highest point, where the investments ceased and the investors with less holding power will suffer the pain.
This phenomenon is something similar to that of Dubai and will Beijing having the same fate in the next few years?
HI,
That why you need to design reccession proof portoflio. Its a norm that we need to take some risk in investment..of course calculated risks. This afternoon I came to know there is another shopping mall along Tuaran Bypass out after chinese new year..So maybe like what I alway say..maybe its only “we” dont have money…there is alot more around us loaded with money>) Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
As usual, you write a very interesting and motivational post. Keep it coming!
It is interesting to note that your condominiums and apartments seem to escalate in value. This is probably only happening in KK as it is not so common in the Klang Valley. Buying at developer price always has the advantage though, rule of thumbs for condos in KL/PJ would be 30% I think, but that’s it! You can stay there or you can rent it out. But as far as reaping the profit from escalated value of the condos in KL, it is big surprise if after 10 years, your condo would double in market value. May be in KK but definitely not in Klang Valley.
The dream to create passive incomes from properties is shared by many i.e. ideally buy it, rent it out, rental is more than enough for paying for monthly motgage. Many Malaysians are doing that. It is also a wonder to see so many bangalows spreaded out in golf clubs or exclusive areas in KL or PJ, those expensive houses, apt. and condos in Mont Kiara or Sri Hartams. How come there are so many rich people who could afford these expensive properties!
Hi,
Rules of investing never changes, The rich will continue to be rich without fail. Just met one of Malay investor (client) yesterday on plane. He told me he just sold one piece of land which he bought 9 months ago at doubled PRICE!! He virtually make few millions from the deal. So once you join the club its easy for you to move..that is MILLIONAIRES CLUB!! Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Thanks CKWong for your advices. I’m anticipating for more news from you.
Hopefully we can have a ‘tea time’ together one day.
Hi CKWong,
I have a question here. Would you kindly enlight me? thanks man…
I am paying a flexi home loan now. I pay RM2.3k while the minimum is actually RM1.3k. I also have some allowance from work make me have extra cash 1.3-1.5 k each month. I can withdraw RM34k from the flexi loan instantly. Also i can borrow about RM10-15k from dad instantly. so this make me have extra RM1.5k monthly and instant cash RM49k.
My question is do you think i am in a position to invest in property? and what type of property you think I am qualify to invest? I wish to invest in KL or selangor region for better ROR. Thanks a million for your advice
Hi,
Better proceed with your plan of acquiring more properties. With RM50K in hand I believe you can at least own another 1 property. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Thankyou CKwong.
But if i withdraw instantly all the extra payment in the flexi loan and pay the minimum installment, the interest will be paid to bank in the longest run (15 change to 30 yrs!) will be double!! estimated from 150k to 300k+. How to justify this extra bank interest compare to invest in another property? I think many forumer here also have this concern in mind which is quit confusing some time.
Hi,
The fact is bank only charge you interest rate of 5% per annum. But the property appreciation in general is talking about 8-12% per annum. So which one better?Leverage more or settled your housing and let your money sleeping? Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
hi ckwong,
First of all, thanks for the good sharing from yur blog.
I read from your track tht a new shopping centre launded after cny…i wonder if u can share with us more about it and comment on it..prospectous..population catchment, locality, prospectice of the centre and the selling price. if u do have the info with u or how can we get direct to the developer or company? As i will be going to Kk on the 24 mar 10 and keen to find out more.
your sharing is much appreciated.
Thank you.
CS Chong
Hi,
These information are too complicated. I dont think i have it. But I will find out more and post it on this blog whenever I have it. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
A lot of people are not satisfied with their jobs and salaries but they have to work because everyone has bills and expenses to pay. I don’t know anyone who has ever gotten rich from working at the same job their whole life. Companies are only interested in profits and making their shareholders happy. That means if you work for a company, they will try to get the most work out of you and pay you the minimum amount to keep you from leaving.
Sometimes I wonder, why work for a company that you will never own and can get fired from anytime if the economy goes bad? I have a really smart friend who’s got masters degree in engineering and has worked for the same company for almost 10 years. When the economy got bad, she got laid off as if all that work she did for them went unappreciated. No matter how good you are at you job, when the economy goes bad and if the company determines that you’re starting becoming a liability for them, you will get laid off. This is why I never liked working for anyone. There was a time when I had a regular job but then I realized I was only making the owners of the company rich and not myself.
I usually tell people to look beyond their current jobs for opportunities because opportunities are everywhere. Technology has made it so much easier to get wealthy today compared to our parents’ generation. There are people with no college degrees like Bill Gates, Richard Branson and Michael Dell who became billionaires because they saw opportunity and went for it.
Hi CK,
Thanks for sharing your views and thoughts with all of us here.
It’s very interesting for a young chap like you who is very knowledgeable in investment. I truly inspired by the way you talk about building wealth thru investment. I read a lot of books about this but never do anything about it as I don’t think I can afford to service the loan. But after reading your views, it changed my views. If I have minimal savings, I invest in less expensive property. If I have more, I can invest in a better one. It must start from somewhere to reach where we want to be in the future.
I believe God gives everyone of us with many talents and it’s up to us to discover it. You are so generous by sharing your gift in this area and I believe your sharing will not make you and others rich but will help you to stimulate the property market. No matter what, it’s a win-win situations for you and new/pro investors. But how about those who are not able to afford one property with low pay?
Look at the property market today, many monthly salary workers are not able to afford to buy any properties near by the prime areas that you have mentioned in other sites. The properties that they might be able to afford to buy may be at outskirt are. How about in few years time? As you mentioned that fuel prices are rising and it’s impossible for it to go down. It will increase the burden of this group of workers who stay further than their office and have to pay higher fuel prices.
What is your suggestion for this group of workers?
Thanks.
Violet
Hi,
Continue saving and explore property market rather than keep waiting for the price to fall..As I always say “buy and wait” is much much better than wait to buy…Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Hi,
1 way of owning something is to join force with others to buy land that you can’t single handedly own. And go for subdivision after that when needed. There’s such deal come up from time to time in Mudah or local news paper for papar, penampang , Tuaran and etc……
Azlan
Both CK and Azlan,
Thanks for your feedback.
Violet
hi,ck,what do u think about sri maju/ sepanggar ria apartment?in term of ROI dan capital appreciation?thks
Hi,
Appreciation for Sri Maju / Sepanggar is going to be slow and the resale going to be abit slow as the target market is mostly lower end. The loan approval going to be tough. In terms of rental, I think lower end market going to be abit difficult as you cant expect higher rental yield and on time payment. Maybe some tenant will be good but bear in mind, lower end market is tough!! Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
thks for the feedback.i heard government plan to develop sepanggar area,someone from the minister office told me that there is a plan to build a shopping complex name one sepanggar in future.any idea?or just a rumour with some political reason try to mark up the property prices around that area?
Hi,
I never heard about that. A lot of time I’m very doubtful on all the minister words but not suprising Sepanggar have their own shopping malls. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
I thought Daily express (last week) mentioned that 30% sabah population is still under poverty line (index). They had taken a household income of rm1700 per month as cut off point. How in the world can another shopping complex survive in this time of need? We will end up with a lot poor quality, deserted shopping malls all over town.
HI,
90/10 rules alway apply. The business mostly depend on the 70% of the people who have the money. You cannot expect everyone to be above the proverty line. Some of the people surrrounding is really havving “hand to mouth” attitude. Sometimes we really need to ignore this group simply they cant be help anymore. Right? I’m here helping those who want to help themselves. So which group are you at now? Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Hi, I’m new to property investment, one question, indah court likas 3rd floor now selling at 200k, do you think it worth to invest? as lower floor is selling like > 220k.
Hi,
may i know Indah Court 3rd floor selling at 200k worth buying? I’m first time in property investment.
HI,
The problem with higher floor is that the appreciation going to be slower compare to the lower unit. Not only that the rental yield also expected to be below average as “lazy” people getting more and more including myself. Last 3 year Indah court is selling around RM150K-RM170K. That time the rental yield is around RM800-RM1200 depending on furniture and condition of the unit. But today if you purchase it for RM220K the rental is expected to be around RM1200-RM1350 only. Like I say previously coming new condo or apartment project with unit size more than 1000sf is expected to be sell for not less than RM300K. So Indah court still better bet compare to new development area looking at its surrounding which consist of 70% of schools in KK. So make your wise decision. Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Make sure the ceiling/roofing is not leaking!! as management hardly re-do the whole roofing works if funding not adequate..
Just to share ..
BTW, fellow property investors..
“fighting!”
HI,
Thank you for your sharing. Its true that top floor at all time having such problem. Sometime management will not really manage well for you. Happy Investing. You cannot Grow Land..CK Wong & MY DAD
Many of the condominium units in KL are managed by the tenant committee themselves. This is a great way to upkeep and maintain the entire condominium unit plus surroundings.
We have yet to see this trend catching on in KK. Perhaps in the next few years, KK condominiums will have its own tenants as the management team.
Hi,
There problem with KK land office is that they need at least 15yrs to finalise their land title. And the worst developer are not taking subdivision job seriously as issuing Letter of Consent its their income whenever you sold your properties. So that why they prefer to do it slowly. Hope over time our SHAREDA will fight for us..Happy Investing.
You cannot Grow Land..CK Wong & MY DAD
Do you think SHAREEDA really going to fight for us? It’s president is Dtk Susan Wong who is also a developer and i’m sure she is making tons of money from this deal…
So people who wants to buy “space in the air” in the form of an apartment unit / condominium, be aware that the strata titles will take YEARS to be issued.
Until today, api2 apartments has NO STRATA TITLE. The same goes for all the other apartment/ condominium units in kota kinabalu. When i tried to clarify , the answer i got was, ” KK’s is like that, it will take years/decades for the strata to come out”.
Hi Joe,
Why not you wait till the title out first before you buy? Let see what will happen?But my question are you afford to wait? Its a legal document that bank accept as collaterale. so why so worry about the title? I never hope our Shareda fighting more good things for us. They are profitable company..so whatever happen in the world..please take care of your own rice bowl. No body going to help you on this!! Happy Investing.
You cannot Grow Land..CK Wong & M Y DAD
Hi CK, what do you think about the newly launch Telipok Ria Shoplot? In term of ROI dan capital appreciation?thks
HI,
Telipok take abit more time to really matured. Look at previous Likas Mart shoplot now taking over by Giant Supermarket. It has been there for more than 10 years..Happy Investing.
You cannot Grow Land..CK Wong & MY DAD