How to be successful in SUBLETTING?

 

Do you own a property which only gives you low rental yield? But you know that that for a property investment to be considered good, it should be able to bring you around 8% rental yield.

How to achieve this? Is it even possible?

YES!! It is!!

subletting-min

Plan for the best, prepare for the worst.

For a property investment to be considered good, it should be able to bring you around 8% rental yield. If you have some good property in good locations, you shouldn’t face too many challenges to achieve this. However, should you face a situation where your property is not yielding a good rental return, you should stop blaming everyone else in the world and start taking the responsibility. You need to do something about it. You can consider subletting your property.

keys-subletting-tenancy-agreement

Why sublet?

The end goal for subletting is that you can maximise the amount of rental income from one property. For example, instead of renting out a 3 bedroom house or apartment you can convert it into a subletting unit and rent out 5 or more rooms. It requires you to do some additional work. The good thing is, it means more potential profit for you, if you’re willing to put in the work that others are not willing to do.

where

Where to do sublet?

This strategy works best in the areas where there are big populations of students and working-age people where the demand for room rental is high. Locations in and around the city centres, locations around financial and industrial areas, locations around university and colleges are some of the favourite locations for subletting.

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Who should do sublet?

Simply said, if you are an investor who want to increase the yield from your property rental and you are willing to do the additional work OR if you need to pay for monthly instalment for your mortgage, when the property rental return is low, then you should seriously consider doing this.

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How to run successful sublet?

The immediate goals for successful subletting are:

  1. To fill it fast
  2. To maximize the cash flow
  3. To have a system to easily manage it

 

Here are TOP 4 ways for successful subletting:

装修

  1. Renovating and decorating – an important factor to attract potential customers

 

When it comes to attracting and retaining tenants, you need to make them aware of “something better.” Your units have to be better than the competitors.

Now before discussing this, please be clear, the goal is to improve your properties, but don’t OVER-improve your properties. For example, while everyone loves granite kitchen countertops, installing them in subletting units for students rental is probably not your best investment of time and money.

Successful subletting investors understand that a few upgrades on a property help tenants see the property more as a “home” instead of a place they are just renting. They become more inclined to take a care of the property than they would if the property had not been properly looked after. This in turn helps keep maintenance and repair costs lower as well as increases how long tenants stay in the property.

While there is no definitive answer to how much or how little to upgrade, you will need to understand the rental market in your area and what is considered standard. By understanding your competition and listening to the feedback of prospective renters, you will get a good sense of what will help you attract and retain tenants.

Another important factor to consider for renovation is to increase the numbers of room. For example, if your unit has a separate sitting and dining room that is over the minimum room size, you could convert that into an extra bedroom and rent it out to increase the rental yield.

Now I’m not saying subdivide the subletting unit into lots of rooms and cram people into unfit, cramped rooms and maximise the profit you can make from them. I suggest you work within the rules and if you can create extra rooms that match the minimum bedroom size, you could unlock more profit from your subletting unit, legally.

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  1. Systems can assist you in making sure the work is efficient and the results are consistent

 

Set up the systems from vetting the prospective tenants to on-boarding to rental collections and tenant exit. Good systems will help you tremendously in executing the work and ensure sustainability of your subletting.

Make sure to pay attention with the types of tenants you want; don’t mix tenant types and be sure you have a process to vet all applications, or you could be the one picking up the pieces if it all goes wrong.

Set the rules and regulations for tenant to protect the property and ensure safety of all the tenants in the unit. You can brief the potential tenants during vetting process and make sure they understand them. Insert the terms for tenants to abide by the rules and regulations in the tenancy agreement. It is not worth to take the risks with potential tenants who do not agree with the rules and regulations.

Set schedules for property inspection, cleaning and maintenance. Provide the additional services like cleaning which helps in maintaining the property. This will also help to lower the turnover rate in the unit which means better rental yield.

Set up payment schedules and rental payment process to make it convenient for the tenant. You can have rental payment reminder system, payment through online banking system, feedback system and etc for the  tenant convenience.

Once you’re all set up, have a working system and ready to scale up your subletting business, it’s worth getting a property manager to deal with any day-to-day managing of the property. By using a manager to deal with the tenants, this will allow you to set up a leveraged business model that takes little to none of your personal time to manage. You must work on the business, to grow it and not in the business, doing daily chores.

shake hand

  1. Real Estate Agents are our good friends

 

You can start by advertising your sublet units on the many platforms available in the market. You can also do some market studies on the rental rates and facilities provided to the tenants from the platforms. Besides that, good Real Estate Agents can also help you find good tenants to stay in your property. Build positive relationship with the agents. They are your eyes and ears in the market, especially when you just starting out. Ask them good questions. Find out what is working and what is not. You have to learn to leverage on each other so everyone can benefit from the deals.

business

  1. Treat Sublet strategy as a business

Believe in yourself and your business. Understand that your subletting business is solving the  problems faced by the tenants. Your business is adding values to the tenants lives by providing good accommodations for them and they are willing to pay for it.

Be ready to do the hardest thing first. Get used to the uncomfortable feeling of not knowing what you’re doing. We all have to do everything for the first time, and none of us does anything very well the first time. Get used to it. Get it done, sorted and out of your way, and feel the spirit of winning to fuel you up for the next task.

Be ready to learn until you know enough to be dangerous in every area of your subletting business, before you delegate the tasks to someone else. If you saw some below expectations results, you have to be able to recognise that. If you don’t, it will be hard to delegate, because you would not know what is good and what is bad.

Create your own luck and your own opportunity by increasing the probability of achieving what you want. So-called lucky people aren’t necessarily getting more advantages than other people. They simply putting themselves out there more. They are ever willing to do more, be more and creating more connections that could lead to other success.

Approach your sublet rental as a business. Work on it and build it up. When you are ready, scale it up. This can help you in your journey towards  your financial freedom.

giving key

In conclusion, if you want to be successful in Subletting, you need to put effort in renovating and decorating the unit  to meet your target customer’s requirement. The goal is to make them feel comfortable and convenient staying in your property. Besides that, you also need to build up stable system to make the operation run smoothly to make sure efficient and effective management of your property. In the meanwhile, we also need to build good relationship with the agents who are your best informers from the market. Lastly, treat the whole strategy as a business so it can be one of your many channels of income.

 

Want to learn more proven strategy about property investment ?

Click the link below to join Rachel Lim’s FREE workshop. 

✅ IMC – Kota Kinabalu 中文班
Date : 6 July 2019 (星期六)
Time : 8.30am – 6.00pm
Venue : Ming Garden Hotel
Click to register: www.joinimc.com/kk

✅ IMC – Kuching 中文班
Date : 07 July 2019 (星期天)
Time : 8.30am – 6.00pm
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✅ Flip Your Way – JB English
Date : 26 June 2019 (Wed)
Time : 7pm – 10.30pm
Venue : New York Hotel
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✅ Flip Your Way – JB 中文班
Date : 27 June 2019 (星期四)
Time : 7pm – 10.30pm
Venue : New York Hotel
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✅ Flip Your Way – Klang 中文班
Date : 9 July 2019 (Tuesday)
Time : 7pm – 10.30pm
Venue : Level 2, Aliya Hotel Klang
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✅ Flip Your Way – KL English
Date : 10 July 2019 (Wednesday)
Time : 7pm – 10.30pm
Venue : CORE Starfish Hall, Wisma Goshen, Plaza Pantai
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✅ Flip Your Way – KL 中文班
Date : 11 July 2019 (星期四)
Time : 7pm – 10.30pm
Venue : CORE Starfish Hall, Wisma Goshen, Plaza Pantai
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✅ Flip Your Way – Seremban English
Date : 13 July 2019 (Saturday)
Time : 1pm – 4.30pm
Venue : Royale Chulan Hotel, Seremban
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How to handle people who try to put you down?

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Have you had any experience where people try to bully you, make fun of you, belittle and diminish you and your dreams? Some of them may do it alone while some may gang up with other people with the same agenda.  They will talk bad about you, spreading rumors behind your back, and give destructive damaging criticism and comments. This group of people usually have the same mindset, to put down people who they feel inferior to and threatened with.

 

Whether you like it or not, these people will put you down, mock your dreams and make fun of your personality. No matter how hard you try, you cannot make everyone happy and you will never be good enough to some people. They have their own reasons and justifications to do that, which you may never be able to understand.

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These people are toxic. They may look like winners because they may have dominant, strong and loud character and because they are in a herd. In actual fact, they are only showing their jealousy and insecurities towards you. Their negative destructive comments can make you feel bad, especially when you are in the beginning of your journey to achieve your goals. You can lose your focus on your goals and you will be wasting your energy and time dealing with them.


help

 

Do not worry. You don’t have to be their victim. Never let them drive you towards depression. We will share with you how to have the power to deflect their negative energy and handle this issue like a true winner. But always remember, no matter how badly they treat you, never ever drop down to their level. Just know that you are better than that.

 

Let’s all be clear here, all positive, constructive comment and feedback should be welcome as they are good for our growth. However, gossips, rumors, diminishing, negative and destructive criticism and comments are harmful to both the givers and receivers.

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If you observe carefully, people who are happy with themselves and their life will emanate positive energy and will usually praise. Only  unhappy inadequate people, who feel inferior, who feel threatened by you will put you down and criticize you negatively. Imagine a see-saw in a playground, you are on one end while the bully is on the other end. In an inadequate person’s mind (the bully), you are actually up here high above them and they’re down there below you and they don’t like that at all. This happens regardless how you feel about them because their feeling are not from within you. Their feelings come from within themselves.

When someone feels inadequate or inferior to you, there are only two things they can do, it’s either to elevate themselves or diminish you. For people with positive mindset, they will do something to change the situation and elevate themselves to feel better. Meanwhile, for those with negative mindset, when they feel powerless and afraid, they will show it by putting you down,  because they want you to feel bad. They need to feel superior and they like to rebuild their false sense of being in control. The only way they know and can do is to diminish you by negative criticism. They think there are some benefits to them by doing that when there really isn’t.

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They will try to diminish, intimidate and control you. When they realise you are stronger than they thought, they will start spreading rumours and the negative energy to turn people against you. Some need to have people with them to feel that they are in control. That is the classic behaviour of a bully.

Unfortunately, when other people see this kind of thing, those with similar characters and mindset will easily fall into the trap and be tempted to join this herd. For some others, while they do not have the guts to stand up for what is right, it doesn’t mean that they don’t care. It is just that they are afraid of becoming the next target.

be strong

 

But the thing is you don’t have to let that in. No one can ever make you feel bad about yourself unless you let them. No one can ever negatively criticize you unless you accept it. Critical people actually have the most criticism reserved for themselves. They express outwardly their dissatisfaction. When they negatively criticize you, belittle you and put you down they are actually showing you and everyone else that there are something about themselves that they don’t like. They have this inadequate and “I’m always not good enough” mindset, whether they realise it or not. They’re very critical of other people but the actual fact is that the thing they really don’t like is within themselves.

When they try to negatively criticize you and hurt you, never let it in. You can just leave it with them. You always have a choice to say, “Thank you for sharing. That’s your opinion. I’ll not let it in. I’ll just leave that with you. And you don’t seem to like yourself very much. You must be having a really bad day. I will just keep moving on ” If you can’t say it out loud to them just say it in your head.

inner voice

 

And be very careful, the negative people who try to put you down may be those very close to  you. That person can even be that little voice in your head. Never fall into the trap. Remember that you’re are allowed to make mistakes but you are not allowed to criticise yourself. So whenever you are going to be hard on yourself or anyone else and you feel like you want to say nasty thing like, “Oh, you stupid idiot you loser!,” STOP! Don’t do that. Instead change your state by saying something funny like, “Oh, You sweet candy! or You marshmallow! or You naughty baby!” or something like that. Because how can you get upset when you say, “Oh, you sweet candy, you naughty baby” those words can change your whole state. Positive state builds you up, negative state diminishes you.

I invite you to do exactly like that. I know it sounds silly. It might sound really pointless but remember negative criticism withers people. It withers them. It diminishes them. It hurts them. Praise builds people up including you. And your own criticism hurts you more than the criticism from anyone else. The way you negatively criticise yourself does far more damage than the criticism coming from someone else. One of the major causes of depression are harsh, hurtful, critical words that you say to yourself on a daily basis. You are going to stop that forever.

hug with tiger

 

By the same token, your praise has a better effect on you than that of other people. So think of all the things you would love to hear from other people and say them to yourselves. Give yourself the praise you need.

When you stop criticizing and start praising yourself you start to rewire your brain. Praising yourself is easy. Every day as you go about your day-to-day life just say nice things to yourself. You can say things like, “I’m a good person. I did something really nice today. I was kind to people. I was observant. I listened.” Every day before you go to bed just think of something nice that you did. It can be anything at all. Just think about something nice and praise yourself. Even if it’s something as simple as getting up early and getting to work on time.

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I want you to remember, as this is very important, happy, evolved people who are together praise. People who are unhappy, dissatisfied with themselves will negatively criticise. And you get to choose which one you’re going to be.

Before I leave you, have you heard the story of the holy man and the journalist? Let me tell you because it’s such a great example. A journalist went to interview a holy man. The journalist already decided that he didn’t like people like the holy man and that spiritual people were fake. So when he got to the holy man he said to him, “I don’t believe the thing that you stand for. I think you’re fake. I think you’re bogus. I think you’re a con artist and I just don’t believe that you’re this spiritual holy man.”

Day 065: Today's 365 shot is for FGR and "Show us your smile". Unfortunately I'm unable to do a decent grin on demand, and without a autofocussing nifty fifty lens I really wasn't in the mood for a facial shot today. So quick, easy, and there you have it. I've had enough for one week. I'm off to consume curry and alcohol.

The spiritual holy man smiled and beamed and smiled and beamed some more and the journalist was a bit confused and he went, “Yeah, everything you stand for is all made up and it’s all ridiculous. And you can’t change people’s energy.” And the holy man beamed and smiled a bit more and finally the journalist went, “Why are you smiling and beaming while I tell you that you’re fake?” and he went, “My dear boy, if you give me a gift but I don’t accept the gift who has the gift?” and the journalist went, “That would be me,” and he went, “Exactly. I don’t accept your gift, I don’t accept your criticisms so I’m just leaving them with you.”

That is such a lesson, if someone choose to form an opinion about you without all the information and based on superficial things, then that’s their problem, not yours. Let them worry about it while you get on with your life knowing the full story. Now that you know how to deal with destructive criticism, change your life, be a true winner. Choose not to give or let in any negative, diminishing and destructive criticism.

 

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Edward de Bono’s Six Thinking Hats [六个思维帽子]

Do you know [6 Thinking Hat] ?

Have you been in a meeting or discussion where everyone was trying to give their opinions and the meeting ends up in arguments and bad feelings among each other?

There must be a way where we can do it effectively and efficiently so we can get positive results and not negative feelings from the meeting.

Easy note template all

Six Thinking Hats or Edward de Bono’s Six Thinking Hats is a good decision making technique and method for group discussions and individual thinking.

You can use Six Thinking Hats in meetings or on your own. In meetings, it has the benefit of preventing any confrontation that may happen when people with different thinking styles discuss a problem, because every perspective is valid.

Each thinking hat is representing different style of thinking and those are White hat, Yellow hat, Black hat, Green Hat, Red hat, and Blue hat.

Easy note template white

White hat is focus on the data, general information, facts and figures. Focus at the information that you have, analyse past trends, and see what you can learn from it. Look for gaps in your knowledge, and try to either fill them or take account of them. “White hat” is never personal opinion, is more on the other point of view.

The most questions that “white hat” will ask are “what do we know?” “what do we need to know?” “How can we get this information”…

Easy note template yellow

Yellow hat is make you to think positively and constructively. It is the optimistic viewpoint that helps you to see all the benefits of the decision and the value in it. Yellow Hat thinking helps you to keep going when everything looks gloomy and difficult.

The most of people who wearing the “yellow hat” will ask “what are the benefit?” “what are the positives?” “what is the value?”

Easy note template

Black hat thinking will make you have skeptical view. It will make you can analysis risk, make you realise the danger and potential problems, make you to spot fatal flaws and risks before you embark on a course of action. As many successful people get so used to thinking positively that they often cannot see problems in advance.

When a person wearing “Black hat”, they usually will ask “what are the challenges?” “What are the risk?” “What are the downsides?”

Easy note template green

Green hat represents creativity. It help you to come out new idea and solution, make you looks for possibilities and make you seeks alternatives. This is where you develop creative solutions to a problem. Green hat will generates new concepts and new ways of thinking.

Questions will be asked when wearing “green hat” are : “Are there other ways to do this?”, “What are the possibilities?” “what new idea/solution do we have?”

Easy note template red

Red hat is represent emotion. It is a permission to express feeling, like or dislike, intuition. But the most if the time “red hat” will make people cant think clearly so when you wearing “red hat”, maximum time is 30seconds. Means that you only can emotion in 30seconds.

The questions will pop out when wearing “red hat” : “how do i feel about this?” “what does my intuition tell me?” “What is my gut instinct”

Easy note template blue

Blue hat is a controlling hat which mean it manage the thinking. It help you to plan agenda and set the focus and make you summarises and concludes. When a person wearing “blue hat”, his time management will be good. A leader must wearing “blue hat” frequently because it help you decides next step and calls for decision to be made.

Blue hat will also make question like “what do we want to think about?”  “what are the priorities?” “what are the next step?”

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In conclusion, whether your objective is to solve problem, overcome obstacle, brainstorm new idea, improve decision-making , those Hats will help you find the solutions and answers.

It also provides us with a multi-dimensional tool that can improve the effectiveness and efficiency of how we think and work through problems.

Make good use of 6 thinking hat, you will solve all the problems in your life easily.

Want to learn more? Click the link below.

Flip Your Way – Klang Mandarin中文班
Date : 12 June 2019 (星期四)
Time : 7pm – 10.30pm
Venue : Aliya Hotel, Klang
点击报名: www.fyw2019.com/incn

Flip Your Way – Seremban Mandarin (中文班)
Date : 13 June 2019 (星期四)
Time : 7pm – 10.30pm
Venue : Royale Chulan Hotel, Seremban
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Flip Your Way – KL English
Date : 15 June 2019 (SAT)
Time : 1pm – 4.30pm
Venue : Crystal Crown Hotel
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Flip Your Way – KL Mandarin (中文班)
Date : 15 June 2019 (星期六)
Time : 7pm – 10.30pm
Venue : Crystal Crown Hotel
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Flip Your Way – Melaka English
Date : 16 June 2019 (SUNDAY)
Time : 1pm – 4.30pm
Venue : Swan Garden Hotel
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Flip Your Way – Melaka Mandarin (中文班)
Date : 16 June 2019 (星期日)
Time : 7pm – 10.30pm
Venue : Swan Garden Hotel
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Flip Your Way – Penang English
Date : 22 June 2019 (SAT)
Time : 1pm – 4.30pm
Venue : Gurney Hotel
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Flip Your Way – Penang Mandarin (中文班)
Date : 22 June 2019 (星期六)
Time : 7pm – 10.30pm
Venue : Gurney Hotel
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Flip Your Way – Ipoh English
Date : 23 June 2019 (SUNDAY)
Time : 1pm – 4.30pm
Venue : Syuen Hotel
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Flip Your Way – Ipoh Mandarin (中文班)
Date : 23 June 2019 (星期日)
Time : 7pm – 10.30pm
Venue : Syuen Hotel
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Flip Your Way – JB English
Date : 26 June 2019 (Wed)
Time : 7pm – 10.30pm
Venue : New York Hotel
点击报名: www.fyw2019.com/in

Flip Your Way – JB Mandarin (中文班)
Date : 27 June 2019 (星期四)
Time : 7pm – 10.30pm
Venue : New York Hotel
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10 Pictures which can CHANGE your LIFE

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Initial discomfort is TEMPORARY but the successful is FOREVER.

Don’t to be scare to feel discomfort. DARE TO DREAM, DARE TO DO.

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When you start to accept responsibility for the results you get in life, you also take back the power to change your future outcome.

How you handle and manage any situation, challenge or experience in your life is how you probably handle all of them.

 

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Focus on what you are doing.

How well you stay focused on the dream is going to determine your level of success.

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Personal growth is the ongoing process of understanding and developing ourself in order to achieve our fullest potential.

Invest in your growth is easy and what you need to do is just take ACTION.

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You must be willing to destroy everything in your life that is not excellent.

Surround yourself with people who see greatness in you.

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People always say time changes things, but you actually have to change them yourself.

To improve is to change; to be perfect is to change often.
54434018_2273056529382474_1093540871615283200_nDo not keep telling “But”, just DO it!

If you try and lose then it isn’t your fault. But if you don’t try and you lose, then it’s all your fault

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In a world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks.

If opportunity doesn’t knock, build a door for yourself. 

 

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Learn to enjoy every minute of your life. Think how precious is the time you have to spend, every minute should be enjoyed.

 

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Sometimes the heart sees what is invisible to the eye.

So, a kind heart is a fountain of gladness, making everything in its vicinity freshen into smiles.

 


Are these quote really inspire you? Want to see more?

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FB : Rachel Lim – Property Trainer, Coach, and Investor.

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FYW JB English Workshop

Date: 29/5/2019

Time: 1pm – 4.30pm

Venue: New York Hotel, JB

Register link: www.fyw2019.com/in


FYW JB 中文班

Date: 30/5/2019

Time: 7pm – 10.30pm

Venue: New York Hotel, JB

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FYW Klang 中文班

Date: 12/6/2019

Time: 7pm – 10.30pm

Venue: TBC

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FYW Seremban  中文班

Date: 13/6/2019

Time: 7pm – 10.30pm

Venue: TBC

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FYW KL English Workshop

Date: 15/6/2019

Time: 1pm – 4.30pm

Venue: TBC

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FYW KL 中文班

Date: 15/6/2019

Time: 7pm – 10.30pm

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FYW Melaka English Workshop

Date: 16/6/2019

Time: 1pm – 4.30pm

Venue: TBC

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FYW Melaka 中文班

Date: 16/6/2019

Time: 7pm – 10.30pm

Venue: TBC

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FYW Penang English Workshop

Date: 22/6/2019

Time: 1pm – 4.30pm

Venue: TBC

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FYW Penang 中文班

Date: 22/6/2019

Time: 7pm – 10.30pm

Venue: TBC

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FYW Ipoh English workshop

Date: 23/6/2019

Time: 1pm – 4.30pm

Venue: TBC

Register link: www.fyw2019.com/in


FYW Ipoh 中文班

Date: 23/6/2019

Time: 7pm – 10.30pm

Venue: TBC

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See You in Workshop Soon.

 

 

 

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What to do when nobody rents our property?

empty properties

Do you own a property which is empty? Meaning it’s not being rented out but you still need to pay loan instalment every month. What should we do to the empty property?

First of all, as we know, investment property needs to bring in the money especially if we need to pay instalment for the bank loan. As we all know, there are two ways to make money from our property, rent it out for cashflow or sell it for capital appreciation.

money properties

If nobody renting it, this means the property is not bringing in any income to us. In the meanwhile, we still need to pay the holding cost and instalment for the loan.  Usually we will end up using our own money and this may become a burden to us.

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Should we rent the property out?

Basically, if we invest for cashflow we need to rent out the property to get the cashflow to pay for all the holding cost and the loan instalment.

We need to know if the rental is enough to pay the loan instalment or not.  For example, if our loan instalment and maintenance fee cost us RM1,000 monthly, we need to rent it out at this rate or higher. If we can rent it out at the rate higher than the holding cost, we will have positive cashflow and this will become our passive income.

If we can only rent it out at the lower rental rate, then we will be having a negative cash flow. In this case we will need to use our own money to cover for the insufficient amount.

renovation

Now, if you are in this situation, you really need to put your effort and use your creativity to increase the rental rate. Renting out your property is a business by itself and you should take the ownership and responsibility to make it work. Do not totally leave it to others as they may not have the same priority and urgency as you.

 

There are few ways out there to increase the rental rate. For example, we can furnish it up and make it more appealing so tenant is willing to pay more, or do subletting by doing some simple renovations to add additional rooms and rent it out by the rooms, or we can rent it out as short-term rentals using platform such as Airbnb. Make sure to connect with as many property agents as we can so they can help us to rent out the property. Do not give up and just wait and hope that the rental will increase by itself. We need to take the ownership and put our effort and energy and use our creativity.

handshake-pano_19966

If you decide to sell it, what should you need to look out for?
Usually for those who invest in property for capital appreciation, they already have the plan and resources to keep it for the duration they intended. If you have the plan and the resources, then it shouldn’t be too much a burden for you to keep the property. However, if you do not have enough resources and simply do not have a good plan, you either need to find the resources needed or you need to sell the property to avoid undesirable consequences.  Either way you need to act fast.

Some investors who invest for capital appreciation, use their income from other sources to fully or partially cover for the holding cost of the property. They usually will have the plan and holding power to keep the property until the time is right for them to sell it. You can use income from other sources like income from positive cashflow property or income from your business or income from your active job, for example, to cover for the holding cost.sell

However, if you plan to sell the property, you need to find out what is the current market price and the current bank valuation for the property.  You also need to know what is the most effective price for you to sell the property. From that information, you should be able to know if you will be able to make some profit from selling the property. Go through the numbers and figures vigorously, and make your decision.

If you are comfortable with the number and figures, then quickly work with as many agents as you can and convince them to help you sell your property fast.

If you are not comfortable with the numbers and figures, then you have to decide whether you can get the resources you need to keep the property or whether you need to cut the losses and move on. Either way, the situation requires you to take charge and ownership of your investment.

fly

In conclusion, as property investors, we need to be actively involved in managing our investment. We can still outsource the tedious work like property maintenance to maintenance team or tenants sourcing to property agents, for example. As property investor, we need to seriously treat our investment like a business and take the ownership and responsibility to make it work.

 

Want to learn more? Here are coming Rachel’s workshop to help you to learn more.

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FYW JB English Workshop

Date: 29/5/2019

Time: 1pm – 4.30pm

Venue: TBC

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FYW JB 中文班

Date: 30/5/2019

Time: 7pm – 10.30pm

Venue: New York Hotel, JB

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FYW Klang 中文班

Date: 12/6/2019

Time: 7pm – 10.30pm

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FYW Seremban  中文班

Date: 13/6/2019

Time: 7pm – 10.30pm

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FYW KL English Workshop

Date: 15/6/2019

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FYW KL 中文班

Date: 15/6/2019

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FYW Melaka English Workshop

Date: 16/6/2019

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FYW Penang English Workshop

Date: 22/6/2019

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5 Ways to aware your kids’ financial interest.

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As a parent we need to know how to aware your kid’s financial interest. Here are ways to empower the next generation, and that starts by teaching children the importance of money from a young age.  If you are a parent, here are 5 ways to teach your children about money management.

girl

(I) Never too early to start discuss money to your kids

Take this logic one step further and resolve to speak openly about money with and around your kids. In other words, feel free to discuss sensitive financial matters, such as how to use salary, how to distinguish the expenses and saving and etc.

When you talk to your kids about money, it removes the mystery and helps them make smart choices. It might initially feel awkward, but don’t let your uneasiness cause you to miss opportunities to teach important lessons and don’t be afraid to talk about the bad along with the good. They might not understand everything you told them, but that’s okay. That doesn’t stop you because you trust that they’ll pick more up with repetition and age.

example

(II) Lead by example

You’re your kids’ most visible and important role model. Whether you see it or not, children are always watching, so it’s important to lead by example. They will follow how you manage your money and they will do the same in their future. So the most important thing is as parent must know how to manage your money.

 

(III) Use board game as teaching material

Children love game and we know that. They will learn a lot of skill in game. As parent want to aware children’ financing interest, the best way is using game to teach them to learn about financing planning. For example, there is a very good board game called Monopoly is a very good game to let kid to learn how to manage their cash in hand and how to plan for their long-term journey.

In monopoly also can build their mindset for property investment. They can learn to generate their passive income if they invest property in their future life. Besides that, playing board game will get many side benefit such as negotiate skill, risk management and etc.mummy gv money

(IV) Giving them pocket money while they doing well

While your kid helping you for housework like sweeping floor, mopping floor and etc. You should give them pocket money equitably as a reward. It is because this will let them to know the important of active income and they using their effort to get money and they will use it charily. On the other hands, this action will also build their responsibility and helpful personality.

Don’t worry that your children how to manage the pocket they got. In next point will teach you how to let your kid to manage their money.

6 jar

(V) 6 Jar of money.

We will separate and manage our income into 6 different jar to distinguish them.

The first Jar will be NECESSITIES; it will be 55% of your income. Necessities including Food, beverages, bill, petron, insurance and etc.

The second jar will be FINANCIAL FREEDOM JAR. It will be 10% of income. The money in this jar can only be used for investments. This jar is used for building wealth for your future financial freedom. You must never spend this money.

Another 10% of your income goes into the jar called LONG TERM SAVING (LTS) for Spending. The objective of of this jar is to save money for future expenses

As we know, education is very important for us. So that 10% of our income will go to our EDUCATION JAR. The more knowledge and skills you acquire, the greater your earning capacity. And the more you earn, the more you need to learn

Besides that, we also need have fun in our life. We want to live life fullness so there will be 10% of our income go to our PLAY JAR. This allows you to spend without guilt, and to also gradually improve your standard of living as your income increases.

The last 5% will go to GIVE JAR. The more you give, the more you get. However poor your circumstances may be, there will always be someone who is in an even more dire state. Besides the feel-good factor of helping others, giving away part of your income also helps you to sub-consciously develop the wealth-mentality that you have more than enough to give away.

 

Rachel

Enjoy learning?

You may like Rachel Lim’s facebook. In her facebook, you may learn a lot of property investment knowledge and you will not regret it. Because She will share a lot of Blog, Picture, Live, even QnA video every day.

 

Rachel’s Facebook will be

@Rachel – Property trainer, coach and investor

 

And also you may sign up for Rachel Lim’s Flip Your Way Workshop to learn about it.

The link of Rachel Lim’s FLIP YOUR WAY workshop is

www.fyw2019.com/in

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If you have RM300k, you will go for Property or Car?

Screen Shot 2019-04-19 at 12.11.07 PM

 

Before we get started, would you spend 2 minutes to click the link below to like Rachel Lim’s Facebook pages and you will learn a lot of knowledge through the Facebook page.

@Rachel Lim – Property Trainer, Coach and Investor
Rachel

Done?

Let’s get it start!!

First of all, you may look at the table below

 

 

. Buy Property Buy Car
Base Price RM300,000 RM300,000 (Luxury CAR)
Down Payment RM30,000 (10%) RM60000 (20%)
Monthly Instalment RM1,550 RM3969
Interest Rate 4.65% reducing balance method 3.5% Fixed
Loan Tenure 35 years (MAX) 9 Years (MAX)
Other Cost per month RM300(utility),
RM200(maintenance)
RM300(Petrol),
RM1000(maintenance + road tax)
After 10 years RM600,000 RM47,000

In the table, what did you see?

 

If you have RM300,000, which kind of product will you buy? Property or car?

As we can see above. Both products are worth RM300k but property’s instalment only cost RM1550 due to property can maximum loan 35 years and car only loan 9 year so that it cost RM3969.

 

And the most important thing is the property will be having capital appreciate in the future but Luxury car will having depreciate in the future.

 

There are actually no right or wrong answers to this question. It’s a difficult question to impose one answer on and the real response would be that it is based on your needs; lifestyle and financial capabilities.

shuai geIt is quite interesting to notice the difference in the reasons why people would choose for either a house or car first. The main reason for the car choice was very much on a “needs” factor, where transportation is an important tool getting to work and also as a part of work. It is a good reason but most of the young age will choose luxury car as their transportation tools.

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If you are able to stay with family or rent cheaply with roommates but then need to make a long commute to work; the car may be something you need more. But a RM300k luxury car are much more than “need”. You may buy a lower cost car to fulfil your needed.

 

If you have RM300k, I will suggest you invest into property. The most prevalent reason of buying a house however, is for the sake of investments. The participants explained that they would choose a house as an investment because of reasons such as the depreciating value of cars, the rising prices of homes, and that a house’s value will increase in time.

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A house, as we all know, is a shelter, and functions as pretty much one of the immediate needs of a human being. The prices of houses in Malaysia, on the other hand, is becoming incredibly difficult for people to afford. Instead, most are opting to rent, which is fine if the persons need is met but it will become an expenses for the people who rent the house every month.  These won’t make them reach financial freedom in their life.

 

In Conclusion, you need to depending what you need currently and make decision. There are no right and wrong on choose property or car. What you really need to know is fully utilise on your money and let money work for you. Don’t choose at ease at the young age. 

 

Want to learn more about property investment to become financial freedom?

Please click the link below to register Rachel Lim workshop.

 

www.fyw2019.com/in

 

 

 

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大学毕业生要如何在职场上工作并保持自己的兴趣?

 

 

 

 

 

在文章开始前,你可点击一下链接以获取Rachel 老师的instagram哦,在Rachel 老师的Instagram里有很多充满动力的语录

让你动力满满每一天!

请点击 @rachel_passion 关注

毕业生

很多毕业生在毕业后都选择了当今最赚钱的事业,每天朝九晚五地去上班,领着每个月的固定薪水。但是在他们心中还有小小的一个愿望就是想要保持自己的兴趣,认为人生中不应该只有工作而想要兴趣与工作并存。

hobby

很多年轻人只是要做自己眼前所看到的。他们比较随性而只是抓着眼前的机会而没有去思考怎么样让事业与兴趣并存。这是因为他们经历尚浅,没有编排他们的人生,所以对于他们的未来会有一些模糊以及迷茫。Rachel老师认为,年轻人不应该有挫折感以及失败感,这是因为年轻人会犯这样的错误是正常的,就只是因为经历尚浅并且没有想太多关于未来。

 

而那些对未来迷茫的年轻人,他们只能够通过父母,老师以及朋友们索取依靠,询问他们关于未来的意见,但是这将会把自己的未来交由父母,老师以及朋友决定了。而且这样的决定会非常依赖他们自身的格局。

family

 

有些父母的观念比较传统,就好像Robert Kiyosaki所说的‘Study Good, Get a good job, Get a good salary and live the rest of your life.’ 这种思维模式会让现代年轻人不敢于谈及兴趣而只是专心于找寻高薪职业。有些教师则是在知识上有着傲人的成绩但是在观念格局上并没有给于足够的知识而有些朋友只是因为需要陪伴会给予一些错误的建议。

 

fly

Rachel老师认为,有着什么样的兴趣就去追求相应的事业,不要被别人左右自身的情绪,左右自身的思维。问自己老了的时候,还想要参与的领域是什么,而那就是自身发展的方向。而年轻人应该在自身喜欢的领域里构想如何在那领域赚钱。因为在自己喜欢的领域里面会有很高的热忱,而把兴趣转化为事业,就会突破工作的限制,没有了强迫性,没有了一定要遵照的朝九晚五工作时间。一个对兴趣有热忱的人一定会成为那个领域的专家,一定也能够赚到钱的。

 

Rachel老师强调,不只是把兴趣转化成事业而已,转化了之后呢,也要自律地工作并不能随性的时而做时而不做。一个成功的人需要的不只是热忱,更需要的是自律。一旦有了热忱和自律,接下来就是深入的专研如何扩大事业,这样就可以在自身兴趣的职场上工作并取得成功。

 

Rachel

想要和Rachel老师学习更多吗? 你可以点击以下链接报名Rachel老师的房地产投资工作坊

www.fyw2019.com/incn

 

或者是可以点击以下链接关注Rachel 老师的面子书专页以学习房产以外的知识

Rachel Lim – Property trainer, Coach & Investors

 

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贷款,你怕不怕?

loan

贷款,对各位来说可能不是一个好的名词。因为我们的父母曾对我们说过:“不要借钱。” “借钱是一个不好的行为。”等等

这些都是正确的观念。但是在投资房产的路上,[不贷款] 会让你饱受挫折。因为若你不是暴发户,富二代。在不贷款的前提下想要投资房产是一个非常艰难的任务。因为如果你想要投资房产,并且已经决定了购买后,你需要准备一大的资金,而在如此情况的前提下能购买的投资型房产绝不会超过两间。[不贷款]这词,在投资房产的路上已经成为了一道深深障碍阻挡着你前进的路线。

障碍

很多人不敢贷款最主要的原因是因为害怕还不起款项。进而导致破产乃至身败名裂,颜面扫地等等,所以不敢踏出向银行贷款的第一步,进而阻挡了投资房产的路线。 但是一个好的房地产所能带来的回酬率远远超过了贷款金额。在支付一定的贷款金额后还能享有每个月的额外收入(Positive income)。就好比你的贷款为1000元但是你的每月租金回酬额为1200元,这样的房产将会给你每个月带来200元的收入。

Dollars stairway and upward arrow

 

而贷款好坏的基础则是建立在房产身上。如何辨别一个好的房产,如何申请贷款购买房产直至到如何管理所购买的产业从杠杆成功者的智慧杠杆银行的贷款融资甚至是杠杆团队到管理能力等等。这些都可以在Rachel老师的课程里面学习到。

rachel IP

[贷款],是一个双面刃,它既可以帮助你迈向成功的房产投资家的路程,也会成为你的噩梦。若使用正确可以让你购买无限量的房产但是一旦使用错误会让你面临破产的风险。身价百万与身败名裂取决于你如何使用[贷款]这一项工具,所以借由杠杆银行的贷款融资来购买更过投资型房产则是一个成功的投资家的基本功

 

如果你想学习如何找到能够带给你额外收入(positive income)的房产,并且改变你的思维模式,学习如何以一个安全的情况下贷款,让房产为你赚钱并迈向财务自由,你可点击以下链接报名Rachel老师的课程学习

www.fyw2019.com/incn

 

Rachel

你也可以点击以下链接关注Rachel老师

 

Rachel Lim – Property Trainer, Coach & Investor

 

 

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4 level of investment mastery. Which level are you?

How many of you want to become a successful investor?

How many of you want to become property tycoon?

How can you actually achieve that?

How many more steps that you need to action to become on it?

Rachel

 

This is Rachel Lim. She is a property trainer, coach, and investor.

You may like her Facebook pages by follow this link to learn more and more knowledge of property investment with her.

— >  Rachel Lim – Property trainer, coach and investor.

 

 

 

 

Done? Let’s start the topic of this blog – 4 Level of investment mastery.

There are 4 steps of investment mastery.

Which level that you are on it?

data

Level 1 of investment mastery: Data input

While you need to buy properties, you need a lot of data, information input. All this input and data are no right and wrong. All these input and data input to your brain and they just absorb it but didn’t do any action on them. Those data just like raw material and these people just keeping them.

Usually these people are knowledgeable just like dictionary walking on the street but they don’t know how to process data. So that they don’t buy any properties in their life.

information

Level 2 of investment mastery: Information

For the people who are in this level are already transferred data to become information. They using these information in their life, take action and practice. They are able to use those information to buy properties.

People who are in level 2 are normally have invest less properties. Maybe just only 1-10 properties and they still haven’t reach financial freedom.

Most of the people stopped here and don’t willing go to next level. If want to move on to another level of investment mastery, they need to breakthrough of it.

but

Level 3 of investment mastery: knowledge

After breakthrough from level 2. They are turning their information to become knowledge. They are using their knowledge to invest into properties. Invest in properties is not only data or information, but based on that they able to invest in diamond properties and build wealth.

In this stage they able to have around 10-20 properties. But yet they still haven’t reach financial freedom goal. If need to become financial freedom, they need to turn their knowledge to become wisdom.

IMG_0415

Level 4 of investment mastery: Wisdom

The ultimate level of investment mastery is become wisdom. In this stage are all the property tycoon. They are not only financially free, they are also able to build up a property empire and run the empire with their own team. People in this stage are having their own strategies, cash flow management, operating management team.

 

 

 

Want to learn more how to become property investor and reach the ULTIMATE level of investment mastery?

Click the link below to register Rachel’s flip your way workshop

–> www.fyw2019.com/in

 

Stay tune in Rachel’s Facebook page to catch up more and more knowledge.

–> Rachel Lim – Property trainer, coach and investors.

 

 

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