The Human Behind Your Property Coach
Humble beginnings
Growing up as a first-generation migrant from China was not easy. My mum was single parent and became homeless when my father decided he would leave us and become uncontactable. My mum worked 7 days a week, 16 hours a day, to pay off the house she managed to buy through years of saving up. I thought to myself, that's what I needed to do when I grow up - 'make even more money than my mum and pay off my house in 30 years'.
However, that idea changed when I turned 18. My boyfriend (at that time) had been gifted $150,000 from his parents to buy a property. He wasn't as dedicated or fascinated about the prospects as I was; so, he gave his mum and myself the liberty to choose his first home. After spending weeks of research and inspections, we finally found on a 2-bedroom apartment that we instantly knew was good value. It was larger in size; the building was comparatively younger than the ones we had been inspecting; and it was kept in pristine condition over the years. The day it listed was the day was the day we inspected, and the day my boyfriend exchanged contracts. Luckily, we acted quickly because there were higher offers on the apartment after.
What I observed next was life changing...
Within 4 weeks, another apartment in the block with the same floor plan though had been kept in a lesser condition was sold for $50,000 more. The light bulb in my 18-year-old brain, lit up like the radiant sun. My mum made less than $40,000 a year and with my boyfriend simply by putting down a deposit of $40,000, he had effectively gain 225% in 1 month. I knew from that moment I needed to save up money aggressively to buy my own property.
Starting with a $35,000 salary, I managed to save up and buy my first place which led on to the next dozen purchases, all of which were a success by their own merits. It's not to say I haven't spent silly money here and there (as any entrpreneur would say.... mistakes will be made). I have tried most investments strategies you could think of. I learnt that there is no one size fits all approach - it's what works for you in the life stage you are in, your circumstances and your long term goals. My proudest accomplishment was helping my mum upgrade her primary residence twice. The capital gains she made on those purchases enabled her to retire before 44 years of age. As a result, she didn't have to spend the remaining 18 years paying off her mortgage and working 7 days a week, 16 hours a day.
To whom do I owe my success?
Similar to Robert Kiyosaki, I had my version of the "Rich Mum and Poor Mum". My Rich Mum took me under her wing when we bought my boyfriend's first property. She was also my biggest supporter when it came to purchasing own first property.
No doubt, this helped build my self-efficacy which is an " an individual’s belief in his or her capacity to execute behaviors necessary to produce specific performance attainments” . Clinical research shows that there are 4 ways to build self-efficacy:
- Mastery experiences | Experiences gained when taking on new challenges and succeeding
- Vicarious Experiences | Learning through observation and shadowing in order to do social modelling
- Verbal Persuasion | Words of encouragement and have others believe in you before you believe in yourself
- Psychological responses | Personal responses and emotions
All of which, when I look back at my own journey have shaped me as a confident and bold property investor. I'm so grateful that I found this passion in my life (something I became good at through shadowing, exposure and of course, doing) because growing up I often felt lost, untalented and useless.
From passion to now
Over the last decade, I've spent countless hours helping others build their own self-efficacy and success story. Whether it's purchasing the principal place of residence, a first home or your the investment property - by hand holding through the process, my clients have saved money, felt supported through the complex process and comforted that they are getting helped by a property investor whose still buying to this day.
Whether you are:
- A single parent living paycheck to paycheck and wanting to find an alternative path forward;
- A young working individual or couple wanting to live your present life to its fullest but also build for the future;
- A family with children wanting to create wealth but not compromise on the opportunities, or;
- A new mum or dad thinking... "Gosh there's got to be another way than to working 9am to 5pm till I die."
Let's chat because if you have save as little as $30,000 - buying a property is very possible.
Lets start the conversation today
Climb the Ladder Pty Ltd
Yvonne Meng Phone: 0430 155 787 Email: yvonne@climbtheladder.au
Hours
Open today | 09:00 am – 05:00 pm |
