The Australian Dream and $1 Properties by Peter Yong Huang

Hi All,

Just realised the owner of YONG real estate, Peter Yong Huang, in Qld started from scratch. And figured this RE agent I had spoken to on a number of occassions is his nephew.

Incredible and inspiring story: http://www.theaustralian.com.au/arc...perty-investment/story-e6frg9gx-1225826530934

Just bought his book: The Australian Dream and $1 Properties

Anybody come across his story?

Seems inspiring. Looking forward to reading the book (once my kindle has enough battery :D).

Goes to show, nothing beats being heads down and tails up, focused on your goal. I relate as in the last 14 years in Australia when we were in latter years of high school, monalisa and I have been heads down and focusing on doing well and doing better. The motivation was looking at our well settled family friends and not having the same lifestyles as our peers at that time. A lot needs to be done still...And stories like this are such a huge inspiration!
 
Very achievable 15 years ago. And certainly very inspiring. It's always very nice to see self-made people do well.

But can it still be done today in major CBDs?

Positive gearing sounds simple enough. This forum's own Sash has done well out of positive gearing. But what locations to choose?

http://www.propertyobserver.com.au/...highest-yielding-house-suburbs-corelogic.html

http://www.propertyobserver.com.au/...-rental-yield-around-the-country.html?start=1

I got no joy with the higher yielding suggestions in the above links. Many were in woop-woop and resultingly enslaved to fluctuating resource prices.

Interesting to see what others who "positively gear" use as their criteria when buying property.
 
Yes I'm from a chinese background too and certainly have heard of him. Inspiring!

"Zhongguoren hen chongming" is all the Chinese I know.

Translated: the Chinese are very smart.

The OP is, as I recall, from Pakistan. Any opportunities there for contrarian investors?
 
"Zhongguoren hen chongming" is all the Chinese I know.

Translated: the Chinese are very smart.

The OP is, as I recall, from Pakistan. Any opportunities there for contrarian investors?

Pakistan real estate markets are incredibly corrupt. People can camp over your land never to leave. Unless you buy land in areas that are designed by Defence forces and first preference is given to defence personnel purchasing this. Those suburbs have value and are well designed with big homes....Also there is little law and real estate agents are very corrupt. I guess like agents everywhere they benefit from ripping off sellers and buyers especially from abroad. It's difficult to know a market from so far away.

Having said that, NOW, the present moment is the time to do well in any economy and any market. Smart people who made decisions made a lot of money there.........
 
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