I will be sharing with you the many methods I used to buy properties with no money down over the next few weeks, one method a week. When I say no money down it does not mean literally no money, it means leveraging on other people's money.
The first method will be leveraging on the bank's money. An example will be a property that I bought in Malaysia. I bought it for Rm860,000 and the bank valuation for the property is Rm1,000,000. The bank is also willing to give me a bank loan of 90% of the valuation amount. In other words, I could get Rm40,000 cash for buying a property.
The key to having such a deal is the ability to buy at below market value. Selling and negotiation skills is very important in such transaction.
More no money down deal next week.
Thursday, May 5, 2011
Thursday, April 28, 2011
Step 23; Does your government affect your wealth?
The reason why I asked this question is because of the coming election in my beloved country of Singapore. I want to declare that I am not affiliated to any political party in any way and this merely represents my personal opinion based on the results that I have in my country.
My answer to the above question is yes - if you allow them to affect you and no - if you learn to flow with their policies.
When I was broke, I used to blame the government for all my financial problems. One day, while attending a seminar, I learned the distinction of the word "RESPOSIBILITY". From this word I realised that as long as I don't take responsibility and continue to blame, justify and give excuses, I will continue to give away my power to the external world. I also learned "The most important thing is what I say to myself and believe."
From that day onwards I decided to take charge, be responsible for my life and my own actions. I have to admit that it was my own doing that cause my financial downfall. As soon as I changed my beliefs and mindset, I started to take different actions and of course, I got very different results.
Having an academic qualification of only 2 GCE 'O' levels, I can always blame the government for giving all the good jobs to the scholars or I can tell myself that since I cannot get a good job, I may as well create more jobs by being an entrepreneur. I am proud to say that most of my staff are graduates and I am able to create good paying jobs for them.
When I was a bankrupt, I could have easily given the excuse that nobody is going to do business with me because of my financial status. Instead of doing that though, I took the opportunity of finding real and genuine business partners. I am really blessed to have found many good and genuine friends and business associates during that period of time.
I must thank the government for creating an environment where people like me can flourish. Having turned around from bankrupt to become a multi-millionare without a good academic qualification is proof that we have a fair system of governance. Having said that I would also like to thank the many courages opposition members for having the guts to stand for election to keep the government in check. I am very impressed with Nicole Seah, can see her passion and sincerity. She has got the charisma and heart. Braveheart indeed! My only hope is that everybody is doing it to make the country a better place to live in.
At the end of the day, we should all look at creating our own Wealthfare and not want to depend on the state for welfare. If I can do it, so can you!
My answer to the above question is yes - if you allow them to affect you and no - if you learn to flow with their policies.
When I was broke, I used to blame the government for all my financial problems. One day, while attending a seminar, I learned the distinction of the word "RESPOSIBILITY". From this word I realised that as long as I don't take responsibility and continue to blame, justify and give excuses, I will continue to give away my power to the external world. I also learned "The most important thing is what I say to myself and believe."
From that day onwards I decided to take charge, be responsible for my life and my own actions. I have to admit that it was my own doing that cause my financial downfall. As soon as I changed my beliefs and mindset, I started to take different actions and of course, I got very different results.
Having an academic qualification of only 2 GCE 'O' levels, I can always blame the government for giving all the good jobs to the scholars or I can tell myself that since I cannot get a good job, I may as well create more jobs by being an entrepreneur. I am proud to say that most of my staff are graduates and I am able to create good paying jobs for them.
When I was a bankrupt, I could have easily given the excuse that nobody is going to do business with me because of my financial status. Instead of doing that though, I took the opportunity of finding real and genuine business partners. I am really blessed to have found many good and genuine friends and business associates during that period of time.
I must thank the government for creating an environment where people like me can flourish. Having turned around from bankrupt to become a multi-millionare without a good academic qualification is proof that we have a fair system of governance. Having said that I would also like to thank the many courages opposition members for having the guts to stand for election to keep the government in check. I am very impressed with Nicole Seah, can see her passion and sincerity. She has got the charisma and heart. Braveheart indeed! My only hope is that everybody is doing it to make the country a better place to live in.
At the end of the day, we should all look at creating our own Wealthfare and not want to depend on the state for welfare. If I can do it, so can you!
Thursday, April 21, 2011
Step 22; Your network is your networth
I am very blessed to be at my mentor, Robert Allen's house in San Diego, networking with a group of powerful and successful people.
Why do you need to network?
The reason is because in a network you will find people with Resources, Ideas, Contacts and Expertise. This is where you leverage on each other. In order for you to leverage on others, you will need to let others leverage on you too and the more you can put on the table, the more others will want to network with you. In other words, the more you can give, the more you will receive.
"The Rich network, the Poor just work."
Don't underestimate the power of networking, but before you go out and start networking, you need to have the clarity from this ancient chinese saying; Be near to sucessful people and stay away from negative people.
Yes, networking with the right people is very important. You don't want to network with anyone, do you? I learned that a good place to network is to go to the right place and I love to be at places where people are positive and are keen learners. I usually find these people at paid seminars and the higher the amount they pay the higher the quality of the people. Most of my associates and partners are found in paid seminars.
I don't network at country clubs because, generally, the people there may be rich and successful but they may not be that humble. I also found out that most very rich people are very humble too.
End of the day, you want to network with people with a character that suits you. People that will ask more of you. People that will help take you to the next level.
So start looking for a good place to network.
Why do you need to network?
The reason is because in a network you will find people with Resources, Ideas, Contacts and Expertise. This is where you leverage on each other. In order for you to leverage on others, you will need to let others leverage on you too and the more you can put on the table, the more others will want to network with you. In other words, the more you can give, the more you will receive.
"The Rich network, the Poor just work."
Don't underestimate the power of networking, but before you go out and start networking, you need to have the clarity from this ancient chinese saying; Be near to sucessful people and stay away from negative people.
Yes, networking with the right people is very important. You don't want to network with anyone, do you? I learned that a good place to network is to go to the right place and I love to be at places where people are positive and are keen learners. I usually find these people at paid seminars and the higher the amount they pay the higher the quality of the people. Most of my associates and partners are found in paid seminars.
I don't network at country clubs because, generally, the people there may be rich and successful but they may not be that humble. I also found out that most very rich people are very humble too.
End of the day, you want to network with people with a character that suits you. People that will ask more of you. People that will help take you to the next level.
So start looking for a good place to network.
Thursday, April 14, 2011
Step 21; Creating your niche
In business, you will have to learn how to create your niche so that you do not have to compete on price. A niche is where you create a product or service that is unique and where there is also a market demand.
Creating a niche is very simple, just use the simple math of addition, subtraction. division and multiplcation.
Addition is where you combine 2 or more features or benefits into one. For example, my iphone has got almost everything inside it. Phone, email, GPS, compass, calculator, games and many other stuffs
Subtraction is where you reduce the size, noise, time or any unwanted stuff like MSG for food or lead for petrol. The iphone also falls under this category because I don't need to carry so many gadgets with me anymore. Reduces my load.
Division is where you divide something and make it smaller so that it becomes more affordable. Example will be sub-dividing an office and let out to small business owners or self employed. You can also subdivide a piece of land and sell it in smaller parcels and make it affordable to more people.
Multiplication is where you multiply your service or product and reach out to more people. Example will be multi level marketing where you TTP, TTP and TTP. Take The Product and Teach The People to Take The Product.
Real estate companies are also very good at multiplication. They charge a fee for training you on how to market real estate and then charges a fee for every commission that you make. This is where the real estate company owners multiply themselves.
There are six types of evergreen businesses that will always have customers and they are; Food, Shelter, Education, Energy, Entertainment and Health.
You can use any of the above two or more combinations to create your niche in business. Are you able to see that there are many businesses using the above concept? If not, be aware, open up your mind and be on the look out.
Next week we will talk about the importance of networking
Creating a niche is very simple, just use the simple math of addition, subtraction. division and multiplcation.
Addition is where you combine 2 or more features or benefits into one. For example, my iphone has got almost everything inside it. Phone, email, GPS, compass, calculator, games and many other stuffs
Subtraction is where you reduce the size, noise, time or any unwanted stuff like MSG for food or lead for petrol. The iphone also falls under this category because I don't need to carry so many gadgets with me anymore. Reduces my load.
Division is where you divide something and make it smaller so that it becomes more affordable. Example will be sub-dividing an office and let out to small business owners or self employed. You can also subdivide a piece of land and sell it in smaller parcels and make it affordable to more people.
Multiplication is where you multiply your service or product and reach out to more people. Example will be multi level marketing where you TTP, TTP and TTP. Take The Product and Teach The People to Take The Product.
Real estate companies are also very good at multiplication. They charge a fee for training you on how to market real estate and then charges a fee for every commission that you make. This is where the real estate company owners multiply themselves.
There are six types of evergreen businesses that will always have customers and they are; Food, Shelter, Education, Energy, Entertainment and Health.
You can use any of the above two or more combinations to create your niche in business. Are you able to see that there are many businesses using the above concept? If not, be aware, open up your mind and be on the look out.
Next week we will talk about the importance of networking
Thursday, April 7, 2011
Step 20; How to make your first million?
$1 x 1,000,000 transactions
$10 x 100,000 transactions
$100 x 10,000 transactions
$1000 x 1,000 transactions
$10,000 x 100 transactions
$100,000 x 10 transactions
$1,000,000 x 1 transaction
The above is a simple chart to show you how to make your first million. You have to know how much are you making per transaction. If you are working for people and paid $5,000 per month, you will need to work for 200 months or about 16 and a half years to make your first million.
One of the fastest way to make your million is to start a business. This is where you leverage on a team and system to help you reach your goals faster. Why? It is better to make 1% out of 100 people's effort than to make 100% from your own effort.
Before you go sack your boss and start your business, may I strongly suggest that you go and educate yourself on how to start a successful business. It is always better to learn from other people's mistakes than your own mistakes.
My company runs a business training program call Entrepreneur Action Program and these are what you will learn;
How to start your business with little or no money.
How to negotiate for free rentals
How to sell anything to anyone, at anytime
How to generate at least 1,000% percent ROI on your marketing dollars
How to lead a successful team and create a money making system
Do call my team at +6562210090 to reserve your seats for a 2 hours FREE seminar
Next week I will share with you a simple concept to create your own niche.
$10 x 100,000 transactions
$100 x 10,000 transactions
$1000 x 1,000 transactions
$10,000 x 100 transactions
$100,000 x 10 transactions
$1,000,000 x 1 transaction
The above is a simple chart to show you how to make your first million. You have to know how much are you making per transaction. If you are working for people and paid $5,000 per month, you will need to work for 200 months or about 16 and a half years to make your first million.
One of the fastest way to make your million is to start a business. This is where you leverage on a team and system to help you reach your goals faster. Why? It is better to make 1% out of 100 people's effort than to make 100% from your own effort.
Before you go sack your boss and start your business, may I strongly suggest that you go and educate yourself on how to start a successful business. It is always better to learn from other people's mistakes than your own mistakes.
My company runs a business training program call Entrepreneur Action Program and these are what you will learn;
How to start your business with little or no money.
How to negotiate for free rentals
How to sell anything to anyone, at anytime
How to generate at least 1,000% percent ROI on your marketing dollars
How to lead a successful team and create a money making system
Do call my team at +6562210090 to reserve your seats for a 2 hours FREE seminar
Next week I will share with you a simple concept to create your own niche.
Thursday, March 31, 2011
Step 19; Leadership
What is Leadership? To me leadership is the ability to influence. Is leadership important if you want to run a successful business? Of course it is! Why? This is because you will need to inspire, motivate and influence your team to run the system.
I learned from John C Maxwell the 5 levels of leadership
Level 1 - Position
Level 2 - Permission
Level 3 - Production
Level 4 - People Development
Level 5 - Personhood
Position leadership - People follow you because they have to and influence will not extend beyond your line of job description. In the long term, staff turnover will be high and morale will be low.
Permission leadership - People follow you because they want to and will follow you beyond your stated authority. This group of leaders also allow work to be fun. Staff are highly motivated but will be restless in the long term.
Production leadership - People follow you because of the results you brought for the organisation. Your success is sensed by most people and people like you for what you can do.
People Development - People follow you for what you have done for them. Your commitment will be to grow and develop leaders. Grooming leaders will lead to sustainable growth of people and organisation.
Personhood leadership - People follow you because of who you are and what you represent. You will consistently grow leaders and organisation over years. These type of leaders are larger than life. People like Ghandi, Martin Luther King, Mother Theresa, Lee Kuan Yew and many others.
The next thing that I want to share with you about leadership is the Law of the Lid. What do I mean by Law of the Lid? People will follow you to the level that you are at. People will follow a leader to learn from them and they will most likely leave you when they can't learn anymore from you. This is why as a leader we have to continously upgrade ourselves.
One of the reasons why I decided not to retire is because I love to teach and I love to see my graduates grow and become successful.
Thank you for reading, see you next week.
I learned from John C Maxwell the 5 levels of leadership
Level 1 - Position
Level 2 - Permission
Level 3 - Production
Level 4 - People Development
Level 5 - Personhood
Position leadership - People follow you because they have to and influence will not extend beyond your line of job description. In the long term, staff turnover will be high and morale will be low.
Permission leadership - People follow you because they want to and will follow you beyond your stated authority. This group of leaders also allow work to be fun. Staff are highly motivated but will be restless in the long term.
Production leadership - People follow you because of the results you brought for the organisation. Your success is sensed by most people and people like you for what you can do.
People Development - People follow you for what you have done for them. Your commitment will be to grow and develop leaders. Grooming leaders will lead to sustainable growth of people and organisation.
Personhood leadership - People follow you because of who you are and what you represent. You will consistently grow leaders and organisation over years. These type of leaders are larger than life. People like Ghandi, Martin Luther King, Mother Theresa, Lee Kuan Yew and many others.
The next thing that I want to share with you about leadership is the Law of the Lid. What do I mean by Law of the Lid? People will follow you to the level that you are at. People will follow a leader to learn from them and they will most likely leave you when they can't learn anymore from you. This is why as a leader we have to continously upgrade ourselves.
One of the reasons why I decided not to retire is because I love to teach and I love to see my graduates grow and become successful.
Thank you for reading, see you next week.
Thursday, March 24, 2011
Step 18; Marketing Skills
Another very important skill that you need to have to build a successful business is Marketing skills. One of the main reason why I lost all my money in my business previously is because I know next to nothing about marketing. I remember placing a 2 page advertisement in the newspaper where I received 2 phone calls and zero sales. It was really a disaster.
By looking at the advertisements placed by companies in the daily newspaper, I can tell which company will do well and which company is losing money. From this information, it can also help me to decide whether to buy their stocks if it is a public listed company. It amazes me to see so many "Enthrowpreneurs" in the market. These are entrepreneurs that are throwing away money with very poor marketing skills.
A good advertisement will have AIDA; Attention, Interest, Desire and a call for Action.
Attention- This is usually the headlines which must be able to grab your attention so that you will want to find out more.
Interest and Desire- This is where you show the readers the benefits of your products and services. It must be able to create a desire where they would want to take an action to find out more about your products or services.
Call for Action- It is amazing to see that some of the advertisement do not have a contact number or email address where you can contact them when you are interested. The call for action is very important because if they could not contact you when they are hot and interested at that point of time, you might lose them forever.
We teach Marketing in an action based and practical way in our Entrepreneur Action Program in Singapore. It will help you to understand marketing better through practical experiences during the program. You will also learn why you need to do test and measure. This is where you test your advertisement and measure your results. This step will help you save a lot of money and increase your revenue. We will also teach you how to pull in more than $10 for every $1 you invest in advertisement.
My advice to you is that you do not start a business without learning how to market your products or services. It can be very, very costly.
Looking forward to seeing you again next week.
By looking at the advertisements placed by companies in the daily newspaper, I can tell which company will do well and which company is losing money. From this information, it can also help me to decide whether to buy their stocks if it is a public listed company. It amazes me to see so many "Enthrowpreneurs" in the market. These are entrepreneurs that are throwing away money with very poor marketing skills.
A good advertisement will have AIDA; Attention, Interest, Desire and a call for Action.
Attention- This is usually the headlines which must be able to grab your attention so that you will want to find out more.
Interest and Desire- This is where you show the readers the benefits of your products and services. It must be able to create a desire where they would want to take an action to find out more about your products or services.
Call for Action- It is amazing to see that some of the advertisement do not have a contact number or email address where you can contact them when you are interested. The call for action is very important because if they could not contact you when they are hot and interested at that point of time, you might lose them forever.
We teach Marketing in an action based and practical way in our Entrepreneur Action Program in Singapore. It will help you to understand marketing better through practical experiences during the program. You will also learn why you need to do test and measure. This is where you test your advertisement and measure your results. This step will help you save a lot of money and increase your revenue. We will also teach you how to pull in more than $10 for every $1 you invest in advertisement.
My advice to you is that you do not start a business without learning how to market your products or services. It can be very, very costly.
Looking forward to seeing you again next week.
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