Thursday, June 24, 2010

Academician turned Property Millionaire

This is a very interesting article I read from asiaone. It's about a Dr Peter Yee whose never-give-up attitude has led him towards the much-desired path of financial freedom. To him, there is no such thing as failure, just learning. Dr Peter Yee is a property millionaire.


Some of the inspiring quotes from the article, and what I can gather from it:

1) Do or do not. There is no try.
Like what Nike says, Just Do It.

2) You should never give up in life, regardless of your age. There's no such thing as failure. I have started businesses and closed them down. People might say that I am a failure, but I don't think so. Instead, I change.Like what Energizer says, Never Say Die

3) If you don't like, then you are like a prostitute. You only like the money, but you don't like the job." Then I thought, "Eh! I feel like a prostitute." [laughs]. So I resigned and managed to pull out some capital from the deposit . That is the beginning of my property investment career.
Do what you love. Money will come along.

4) It was very hard for me to accept that the world is so merciless. It won't work to pay him endlessly. So we did something for ourselves.
The world don't owe us a living. We have to take action for ourselves.

5) But not everyone can afford those areas.
[laughs] So, begin with a poor man's area for cash flow.

Start small. Don't attempt to take big bites too early, too fast.



  1. Hi JW,

    Real estate investment in Singapore is one of the fastest ways to make our first million. :)


  2. Hi AK71,

    it's scary when everyone is saying the same thing actually... But I need a place to stay! :x

    HDB just sucks now. What's the point of forcing pple to pay 240k for a pigeon hole that me and my gf don't like?

  3. Hi JW,

    Yup, HDB sucks. Fortunately or unfortunately, I do not qualify for HDB. Pay more and go for private is what I would do but you would have to wait for the right time. :)

  4. I still qualify for HDB, although I might not in a few years time :x

  5. I think you should go for HDB(at least a 4room near MRT) if you still qualify.

    It is a self-sustaining property when rented out after 5years of Min. Occupancy Period.

    In the mean time, try to save as much as possible for that downpayment for the private property. Use your regular wage to sustain the installment of the private property since the HDB installment will be well-taken care of by your rentees.

    Anyway, my view is what you are staying in (be it HDB or Private) is not called an investment, it is called a home. You cannot sell it when the price is right. Because most probably you will have to buy a replacement at the type of pricing you sold yours at. You need at least 1 home stay ppty and 1 investment ppty to play the property market.

  6. Hi WJ,

    the thing about HDB is that it's hard to get a good queue number to choose, and it's really a matter of luck.

    I might be going for an EC instead... just need to check on my finances... Was hoping to be able to use my dividends to pay for the first 5 years of instalments before renting it out eventually.

    Indeed, the place to stay isn't an investment, but most likely, I will be staying with my gf's parents because they are old and needs to be taken care of... and my gf is their only child... Have to see how it pans out eventually :)

  7. Yup. HDB is EC, BTO, DBSS, Normal flats. :)

    But wise choice, I believed EC got condo facilities and can be resale later as a condo in 10yrs time. 5 yrs still only for locals/PRs.

  8. Yup... only thing is that the property market is a bit too hot now... :x

  9. how come the more i look that this Dr Peter Yeo, the more i see a resemblance of Adrian pang?? :S

  10. Hi Joe,

    he does look like him LOL


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