My Wife Made More Money Than Me In The Last 3 Weeks, But Whose Complaining?
Its great to be back in Singapore! For those of you who did not know, I have been in Indonesia for the last 2.5 weeks doing a training tour in Medan and Jakarta. It was a great experiencing been able to empower and inspire over 450 Indonesian students to achieve success in school and for their life. I will be posting the pictures real soon for all to see.
A couple of weeks ago, my wife told me that she was planning to look around for some property to invest in since the property market has been booming and we had already made close to $1m in cash for a semi-D we bought two years ago.
Just as I was coming back from Indonesia, she sent me an sms saying ‘darling…I just bought a condo for $1400 psf, totally $1.3m’. I almost fell off my chair when I got the news!
She told me she was looking around but I did not know she was actually going to sign the agreement and pay the 1% deposit without letting me know. She told me that she wanted to let me know but could not get in touch with me as I was busy doing training in Jakarta and was uncontactable. It was a super deal and she did not want to lose it…so she took action.
At first, I thought she was nuts to think $1,400psf was a great deal. I almost hit the roof and wanted to take away the checkbook that I gave her. Then she showed me the newspaper and anger turned to excitement. In just 2 weeks, the developer was asking $1,700 psf. She had made me a paper profit of $278,000 in just 14 days.
After some research, I decided not to sell for an immediate profit but to hold it a bit longer because I believe that there will be alot more upside (a nearby development is already asking for $2000psf). Our target is to now make at least $600,000 in the next couple of months. I believe that getting the right properties will pay handsomely in the next couple of years. The Singapore government’s target is to hit a population of 6 million singaporeans from the 4 million we have now. That is a 50% INCREASE! No matter how much the URA releases land and developers build, there is NO WAY that our land can increase by 50%! And God ain’t gonna make more land. Simple logic of demand and supply says that prices will continue to increase.
I guess it pays to have a pretty smart wife who has the guts to take action (with my money of course).
Excellent, enjoyed that story… “Kudos to Your Wife”
I’m from NZ so you may not know what that saying means over here , but it is a good thing!
It is sort of the same as ” I take my hat off to you” hopefully kudos isn’t a rude word for you guys….
I had a good chuckle to myself, when you mentioned She spent Your money….. Congratulate her for me please, it was a gutsy move on her part, but it worked, so All is well & forgiven I’m sure!
Brilliant,
Bye for now,
Dianne from NZ.
wow adam.. i sure admire your wife for her bravery and trust her judgement that that property will raise in price! ha 600,000 in profits within a few months is indeed WOW!! hahax
good job Adam’s wife..
Sound like your wife and you have just hit a jackpot by… design
Adam,
I laughed when you said that you almost fell off from your chair for the $1.3m. I know you can afford it and as I know you are a prudent person with financials, it is indeed a lot of guts and a go-getter to decide such a deal. I admire your wife. She must have secretly learnt your POE stuff
Awesome! to you (Mrs Khoo!)
WOW how smart of your Wife
Wow Adam, you finally lose to your wife? Congratulation to her !
http://www.scienceofgettingprosperous.com
Adam
Tough stuff your wife is made of :o). It was once said that behind every successful man is invariably a supportive wife. You are certainly blessed with one.
I’ve just graduated from POE… I’m the big fella who is totally repulsed by cod liver oil, and who is really involved with the property market *wink*
pc
There is no way that God can make more land, but there are ways for developers to build more apartments, and that is buy acquiring old developments and building newer and more concentrated ones.
As said by Peter Lim aka The Remisier king:
As for the property market, Mr Lim thinks prices have gone up too fast. The sharp increase has taken everyone by surprise, even the government. ‘Actually, it’s quite simple. Singapore is small. You get a small bucket, and pour a lot of water, it’ll overflow. This is what’s happening. I think the demand just comes together at the same time. I don’t think it’s sustainable.’
Demand is so strong that people are knocking down buildings, and that’s curtailing supply even more.
But the thing is, the buildings knocked down will have three times more apartments when they get rebuilt a few years down the road. ‘When the supply comes out, property prices will drop,’ he said.
kleer
http://extraordinaryprofits.blogspot.com/
Haha! Great achievement Adam!
Congrats to you…
Like husband, like wife….
Couldn’t blame her for being
in the success environment
for years!
SaM
http://MotivatedSuccess.com
wow.. congrats to both of you
wonder when will be my turn to earn so much money
First of all, big congrats to you!!
But, you must note that the population of 6m isn’t going to happen anytime soon. It’s more of a long-term vision the Govt has. So, in the short-run, the demand and supply factors are less predictable..