of paradigm shift,” says Tan. Robert Kiyosaki, author of famous book called ‘Rich Dad, Poor Dad’ shared much information on managing financially to achieve our set goals. I made an initiative to find out more about the much talked about Kiyosaki. A breakthrough came for Tan in year 2015 when Kiyosaki was in Malaysia. But, incidentally he was seeking for medical treatment to cure his prolonging cough. His medical consultants told Kiyosaki to seek acupuncture instead in Asia. Immediately the conference organiser referred us to meet up. Tan started applying medication to Kiyosaki. Kiyosaki saw quick improvement and was relief with the treatment. So, to maintain his health condition, he offered Tan to join in his two-week Asian tour from Vietnam, Thailand to Philippines, which prompted him to decide within a day! Tan was super excited given an upclose and personal chance to be treating the financial freedom guru as a resident acupuncturist. “I gave it a deep thought that if I still remain in my comfort zone even in the next 20 years I would still stay the same. So, I decided to make a move,” opines Tan. Of many advises Tan listened while being with Kiyosaki was to cultivate a reading habit. Kiyosaki was 69 then, but was always seen with a book in his hands.
EMBARKING ON A PROPERTY JOURNEY
Even, Kiyosaki and wife Kim owns more than 3,000 units of apartments valued at US500 million (RM2.1 billion) amongst other investments have created their portfolio by leveraging on passive income. This has motivated Tan to learn more on property journey and joined a group of friends who have similar property investment mindset. Now, Tan is a trained coach, teaching property management. “My first property was bought on a joint loan with my wife in year 2012. It was a RM230, 000, 1,100 sq ft, two bedroom condominium in Palm Springs Kota Damansara. We are still holding on to that property as the price has appreciated due to the Mass Rapid
I gave it a deep thought that if I still remain in my comfort zone even in the next 20 years I would still stay the same. So, I decided to make a move” - Dr David Tan
Transit line (MRT) build close to the area,” shares Tan. The rental value is at RM1,400 per month. The deposit for the home was from their savings. Then, his wife prompted him to purchase a landed property in year 2015. They found a double-storey link house valued at RM780,000. The original price of that property 12 years ago was only at RM200,000 but currently seeking for a price of RM500,000 and above. Tan says he has learnt a lot of strategies from reading and training programmes on property investments. He always looks out for potential of an area in the next five to ten years on how the place would be develop, the amenities and accessibilities available for appreciation in future. Tan’s next acquisition was a unit at Robertson Residence located in Pudu, KL a project by Gamuda Land Berhad. “If am not familiar with the property I would not invest. If the area is strategic, I would not fear to invest either,” says Tan. He emphasises to learn on loan preparation methods the legal way in order to be approved by the banks. He also advises not to follow the crowd to jump into any investments as this might be a failure in the long run. Tan also owns a a property in Opus @ KL located at Kg Attap in Kuala Lumpur, a project by Bina Puri Holdings Berhad.
Tan says if you don’t take an action or face a challenge then you would always live in fear. And when you don’t know the value you will also feel the fear to spent on any investments. He adds that investment in education is vital part in a journey to success in life. The ‘free’ mentality has to stop, as Kiyosaki said once that the most expensive things
is to get free things from others, when you lose more money instead! Tan adds that if we learn to know about something that value millions than it would surely be worth millions too. His future plans are to indulge in making plans for future investments in the next ten years.
PROPERTY 1 Location Property Type
KL city centre service apartment Purchase Value RM800k Market Value RM1.1mil Price psf RM1180 Rental per month RM5.5k Loan Margin 90% Loan tenure 35yrs
PROPERTY 2 Location PJ Kota Damansara Property Type condominium Purchase Value RMRM233k Market Value RM460k Price psf RM460 Rental per month RMRM1.5k Loan Margin 90% Loan tenure 35yrs
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