Property Investment 101: 3 Powerful Tips from Bos Molly
Kuala Lumpur & Selangor Property Investors Club
I am a founding member of this very amazing club which I have learnt a lot and also shared my knowledge, experience to. Kuala Lumpur & Selangor Property Investors Club. Recently I attended another one of the super informative sessions only for members and one of the speakers invited is none other than someone whom I have been following for a while. She is none other than Bos Molly. Take a look below:
This is her FB page: https://www.facebook.com/bosmollycha
Her life story unfolded within that 45 minutes of speech
She shared her story from the days when she was a top student to the days when she came to KL and tried her best to do many things at once and then to the days when she felt she had let her father down and then to days when she learnt about property investment and how she started gaining some successes and even to the story of how she had to change her Kancil car after one heavy downpour incident with a VIP customer. One word to describe her sharing in my own assessment. WOW.
Listening to her made me realise again that when we really want to be successful, we need to learn as much as we could and then apply those learnings. Both are compulsory to do but everything starts from learning from the ones who have done it before. In her conclusion, she shared three super powerful tips for anyone thinking of starting the property investment journey. All three are MUST-DO and all three are something that hope to continue doing too.
#1 – Start Small, Grow Big
I started kopiandproperty.com in Nov 2013. In May 2014, I wrote this article. “Property Investment? Think Big, Start Small. My view.” (don’t mind the format yeah, it’s not so nice looking yet at that time). Molly has just shared this important principle using her life story. Start Small, Grow Big. Too many people wants to become rich super fast. Seriously, if it’s really so easy, why are there still poor people in this world?
Property Invesment takes time. Learning about it from experienced people. Researching for the right one. Viewing to select the best one. Waiting for all the process to complete. Continue maintaining it over the years. Nothing about the whole process of property investment is fast. However, as we start small, we will start strong and when we start strong, we can build over time and many years later, we realise that our investment has grown to become a sizeable one. Thank you Bos Molly!
#2 – Delay Gratification
Whoa, this is super hard to do. Haha. Let’s get this fact right. Bos Molly was STILL driving her Kancil when she had bought 10 properties. She is now driving a BMW. She reiterated her point. When she has money, she used the money to invest so that she has more money and she just repeated the process. By the way, she is definitely someone who could buy a much more expensive car than just that normal looking BMW which she showed on the screen.
In other words, delay gratification has helped her tremendously to boost funds for her property investments. Imagine if her money got stuck in a new car early on in her investment journey? I love this point tremendously and I wrote this just recently about how three engineers somehow managed to delay ‘rewarding themselves too early.’ Engineer: Salary so little, what to do?
#3 – The Importance of Passive Income
She told everyone present that we must improve both active income and passive income at the same time. I think this is a great reminder to anyone who’s buying a property and paying a price which is so high that the repayment is way above the potential rental. If this happens, then the property investment is no longer an investment yeah. At the same time, Bos Molly told us that she continues to work very hard so that her active income would continue to lend support to her investments. Otherwise, there’s no way that the banks would lend to her.
Many times people focus too much on investing alone but the base to everything we do is actually active income. In this case, the earnings. Perform well at work and the company will pay us more, else find another company to pay us more. If we could not find, change what we do yeah. We may not be good in what we do. I wrote a similar view in this article some time back as well: 4 Pillars for Financial Success
Young, Successful and Still Down to Earth
I admire Bos Molly because from her sharing, I could feel this is someone who’s down to earth. There were no airs of superiority like many speakers whom I have listened before. Not once did she say this sentence, “If you want to be as successful as me….” She did not tell me but I think in her own assessment, she’s a work in progress towards a goal she has set. I wish her all the best and I am very sure I would get another chance to learn from her again in the near future. Thank you Bos Molly.
I leave you with her recent two videos which I found to be meaningful, especially to the younger ones. Think deeper when you watch these videos.
Here’s Bos Molly’s FB again. Follow her for continuous stream of interesting and meaningful videos: https://www.facebook.com/bosmollycha
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