How can I buy a property with no savings?
I bought this property in Apr 2019, the problem I had was
What does this have to do with you?
I like to take you through step by step:
This was what I did. We have our first house purchased in 2008 at 1.95mil. Maybe you don’t have a property. Please read on because maybe your parents do, you just need to do the right calculations.
I apply for a remortgage with that first house so that to pay for the downpayment.
What you have to do
You need to know if your parent can remortgage their house so you can make a downpayment and know how much it cost them. You promise to pay them back. You can use different mortgage calculator to know the monthly payment.
Then, I apply for remortgage to get 1.4 mil for my first house. The monthly repayment is 4768. So 1.4mil= 4768 monthly repayment
What you have to do
Keep this remortgage figure in mind because you will pay back parents or I m in trouble 🙀
Then, I apply for another mortgage for my second house. Purchase Price 2.2 mil x 60%, so I get another 1.32 mil mortgage. Monthly payment is 5710.
What you have to do
Find any property to do a calculation. To determine your price range for me. I target 2 mil to 3 mil on my second property.
The best case scenario is you can find a property that the rent cover both parent’s mortgage plus your new mortgage. This isn’t easy you need to search.
For my second house, this is the calculation
Total mortgage is 1.4 mil + 1.32 mil = 2.72 mil. My property prices is 2.2 mil. I have 0.52 mil on hand.
Total repayment is 4768+ 5710= 10478 per month
I was able to collect a rent of 9300.
I need to pay 10478- 9300 = 1178 per month to own my 2.2 mil house. Plus, I got cash 0.52mil cash on hand.
What Rich Dad Taught Me
Best case scenario “Rent > Mortgage”
As taught by Rich Dad, your should produce a cashflow that is greater than your mortgage. That is your rent is high enough to cover your mortgage and other expenses that allows you to generate income from the property.
Go to my website www.dadDAYout.com to find out more
For 30 years, I was thinking it is ok to accept something that isn’t your most desired. Why? Why do I have to accept anything less? Do you accept anything less than what you most desired in life?
I don’t want to accept it. I want to ask for the best in me. I want to excel! I want to work for it! Do you?
I was challenged by my coach 3 weeks ago about me waking up 5 am in the morning?
She said: without a purpose you can’t continue this effort for a long time.
She asked: “What’s your purpose?” Then I ask: Is my “purpose” fuelled by fear or passion? What do you feel passionate about? I have passion to help kids, I wanna cry when I helped them because they remind me of my past... I was a younger brother and I have a wrong belief since I was a kid that I should have a smaller share or something less than my brother. This thought grew bigger over the years and has made me accept less than what I truly desired. I would accept smaller portion of food, a smaller birthday gift and later on in my life, I accepted something less than I desired, I accept myself not performing my best...and told myself it’s okay.
That brought big consequences because not only I accept less from others, I accept less of myself and don’t demand so much of myself anymore. I convinced myself to accept mediocrity. That hurts...do you think something is wrong with this belief?
Deep in my heart I regretted that belief and I keep coming back, get up and fight again after several attempts as an entrepreneur, I still not sure what is going on inside of me. I have a fighter spirit but I didn’t realise deep inside, I wanted to ask for the best of me, that’s the real me. And I like to ask you, what is in the real you?
It was until my coach, she asked me about my purpose, deep inside I want more in life, I want my life to be bigger, much bigger. I want to put up a fight. I believe that I am whatever I want to be. I want to show any adults or kids, everyone has the right to ask for the best, never settle for mediocrity. I want to show everyone, they have the right, to demand for their best no matter who they are.
Go out and fight for whatever you want in life, demand more of yourself....
I have been talking to myself for the last 5 year with this powerful statement “ i m good when I m committed to take action.”
I can tell you why m I so sure of that...
I found out at age 36 a thought existed inside myself always doubting “if I m really good enough?” or “ I m just not good enough” .
Here is the method I learnt to fight against this belief :
I go back to my memory and write down the many moments when I was good, there were tons. moments starting from primary school till my work life, there were so many like winning ping pong competition, good grades at high school, I had a promotion or I won a major business,etc . I found many great moments I have had, I just chose to remember the bad ones and forget the good ones. I won a couple of big new business the first year into marketing. I m really good.
All these instances support my statement: “ I m good when I m committed to take action.”
So why do you think you are not good enough? It is because bad things tend to make a bigger impact. It left a scar. We need to be trained to take failures positively. We often hear “ never give up”, “failure makes us better”, but we never believe them and we couldn’t embrace these philosophies, we never internalise them into our heart successfully.
How do we internalise positive thoughts?
How do we believe in it and act it out?
We need to dig back into our past experience to find proof that god does leave a track of your empowering past.
Name 5 instances that you felt fulfilled or achieved something.
It could be a small contest, winning a sports match, a test you did really well even in grade 1. Did someone praise you are good over something you did well? Have you ever build anything together with your friends? Have you ever settle some troubles in your life? Think about that. I want you to count 10 of them, count to 20 if you could. These 10 instances just proved that you are good when you committed to it.
“ I m not good enough” is wrong. I turn the negative thought into a positive one. I m good when I committed to take action. Once I installed this belief in my system, I take off and never look back.
Day 749: When you hear your inner voice inside says “ You Are Not Good Enough”. It isn’t true, Why? (Apr 27,2020)
How to outperform in life? by KILLING the fear and self-sabotage of “ I m not good enough”!
This is a video about the fear and wrong belief we created ourselves at a very young age, making fear a habit of ourselves without noticing it is not even reality.
This video is going to help you to identify those bad messages you say to yourself and how you can turn that bad message into something that motivates you to outperformance in life.
I like to show you how did I form that message of "I am not good enough" during a very young age when I was about Age 7 - 10. There is a solution to that and i will show you how in the video
(Remember to turn on the captions for both Chinese and English on YouTube)
Don't Miss My Live Event On Outperform At Work and Motivation on May 30, 2020
Click 👉https://bit.ly/2KkXQZv to learn more my Zoom Live Event on May 30,2020 to share the 3 things to get whatever you want in life. I will condense my 15 years of pain in that workshop so you can fast forward and grow 15 years quicker. Don’t miss it 👇 https://bit.ly/2KkXQZv This is a video about the fear and wrong belief we have to ourselves at a very young age. This video is going to help you to identify those bad messages you say to yourself and how you can turn that bad message into something that motivates you to outperformance in life. Chinese Subtitle Available Check out the details of the Work Outperformance Workshop https://herbert-yau-42328.mindmint.co... Think yourself to win. If you act like everybody. You become a nobody. So Be Like You & Work your dream. Herbert Yau, property entrepreneur and a motivation speaker
Herbert Yau, property entrepreneur and a motivational speaker
Go here to find out more about my motivation http://www.daddayout.com
Day 718: Have you asked yourself: why am I sitting at the same work desk day after day? ( Mar 27,2020)
Have you ever asked yourself: Why am I sitting at the same work desk day after day? Could my life be any different? If you have, you are not alone. I went down as a business failure 5 years ago to up 2 properties.
The second property I bought in Apr 2019.
I like to show you 3 steps to outperform in Life. Watch the video for STEP 1....GO!
I like to offer you 3 steps, maybe something totally different from what you learnt in the past.
Something that you may never aware because it hides deep inside your brain that drives your action. It is those thoughts that drive you to take action or non-action.
I will help you to discover yourself what’s stopping you, turning those thoughts and beliefs into a powerful message to motivate you even in face of difficulties.
If you still reading, go ahead and watch the video right now!
Day 566: Observing jealousy and the right way to deal with it - learning from 8 year old kid ( Nov 4, 2019)
Praying for her isn’t difficult. Wish she have new experience in bj! Life is about trying, learning and appreciating what you think that is not so pleasant...so you find something new everyday.
Pray you could be happy living the present moment. You are healthy and capable and humble. I feel that you are constantly improving yourself. Being honest with yourself is the happiest. I thank god for giving you that power.
I pray that claire could learn more. That’s my experience of her yesterday:
Jealousy start to appear in claire. She called popo and ask her back early because she said olivia is taking popo too long and she didn’t like it.
I told her if you want someone to love you. It isn’t to stop other to get close to her. It is you to love her so she knows you love her, she love you back. Tho she say it out loud she is jealous. The feeling isn’t so strong because i don’t recognise the feeling overwhelmed her mind. She forget very easily.
Then, I taught her to cut mushroom. She was all by herself. Then I found out she cut it differently as I asked her to. she said it is better like that. I scold her for 3 reasons:
She so scared with her head down when I ask her to repeat what she done wrong. She say it her own words and is so precise. She is smart.
She so bored and I suggest to go down to buy her some food to cheer her up. Then she said she want to walk more after buying food. We walk further to the park finding out the swing is too small for her.
I told her she can’t watch YouTube too long and should figure out doing other stuff. Going outdoor and walk is a good one and I ask her to remember that
At night, she taught me to play Siri, so it can recognise my voice only. I tell Siri: Siri I wanna die. Siri say would you need some counselling. Then I said, Siri call 911. She super scared and turn off Siri.
She said this freak her out like a 8 of 10. Then she scaled I scold her for the mushroom cutting is 7 of 10 and popo yell at her is like a 5 or 6.
Anyways. I enjoyed those moment and I prayed that you can absorb yourself in the moment with them.
I wanna say I might be late for Olivia. But things is never too late.
I pray you always enjoy your journey and god told me over many people: life is supposed to be fun even during difficult situations.
May god look upon you !
Think yourself to win. If you act like everybody. You become a nobody.
主題: “捱罵的人 還比鬧人 過得好”。
Think yourself to win. If you act like everybody. You become a nobody.
Day 539: Disaster after quitting masturbation
On oct 4 Friday, my family went on a trip to taiwan. That day was a day of social unrest. The law of refraining mask was deployed. ( 蒙面法😷）
That same day I was defeated by the doorbell of 141. I remember I was thinking about it the whole Friday afternoon, I was on the website 141. I have eliminated masturbation but then I got into the much worse doorbell situation.
I felt disappointed, self-doubt, self defeating thoughts came to my mind.
Yes, the doorbell is not a good message I sent to myself. The message is ugly, it is guilt, it is no self-restraint.
The question is what I decide to do about it? or I let me haunt myself for who I m? Can I be a good person anymore? Am I not good enough? These are the thoughts I have inside my mind.
mean the doorbell absolutely feels good but just for that moment. I was left with guilt for a long time just for the 5 min of pleasure. Is it worth it ?
What I decided to do?
I decided that I seek a long term solution that is to love my wife and develop a long term & strong relationship that I could rely on.
The lessons I learned is that I can use defeat and failure to fill myself and to haunt myself with negativity. OR to channel “the situation” towards positivity, think about a solution, think about the improvement I can make, so I can only become stronger after.
I have decided to go for long term solution, develop a good relationship, I no longer have to punish myself with the inner talk. The next thing is just to take action.
It is a great lesson learned.
I realized that life is fascinating. When you think you become a better you, something bad can happen.
When I thought I quit Masturbation, I attached to something much worse...
So what would you choose? To comeback even stronger & to make a even stronger decision?
I got rid of masturbation. BUT...it brings me to a even worse and evil situation - the doorbell.
My question is m I better off going back to masturbation? Or I take it as a great challenge to improve myself even better?
I experienced the pleasure, it is tempting to go back again & again. I already have so much fun only with my imagination.
For me to become a greater self, I need to take it on positively and not beating up on myself. Seeing things as a challenge rather than a defeat can help you to contribute more to the society and building a better version of you.
Think yourself to win. If you act like everybody. You become like anybody.
The ability to increase rent is through value creation. As the property size getting smaller and smaller, the room for using our creativity is also becoming smaller. I see opportunity in Mui Wo property because the price is cheaper, the size is bigger which allows creativity to run much wilder than the tiny 400 sq ft in Hong Kong Island. This is just a small demonstration. I 'm looking for an entire village house 2100 sq ft to go through this change therefore increasing value for the property as well as for the tenant who lives inside it
Living Room 2
Under the Staircase
These few days I was thinking if I can skip a day or 2, or skip an item for a day or 2, e.g how about exercise other time, not in the weekend. I m taking care of my kids. How does that sound?
It sounds all logical. It is all the seemingly logical and sensible “explanation” that we get out of our commitments.
it is often these excuses or poor habit that kept someone being successful. I don’t want no part of that. I m successful, man!
I haven’t hold on to something for longer than a year. That might be the reason I m not successful. Recently I did much better. I finish 100 blogs but it took 9 months more than I planned. We often overestimate ourselves short term and underestimate ourselves long term.
By the way, I m making purchase of my second property in Mui Wo no matter what. I m working on it.
A project about being a property entrepreneur and motivation speaker. How I work from a job transforming into a business. I went through 3 business failures, broken relationship and on Apr 24, 2019. I invested my first property with 100% mortgage