~ How to make 2000% ROI ~
Isn't that an amazing return?
Almost unreal and unbelievable!
I wouldn't believe it was real either had it not been me making that return back when i was 16.
There was this advertisement in the papers about making money from renting property with no experience required. Not much info was given but i went for it anyway.
The idea was simple. I was to pay this supplier $20 in exchange for 2 sets of papers.
One set contains the list of people who had rooms or whole units for renting out.
The other set contains the list of people who were looking for rooms to rent.
The job couldn't be more straightforward. Just mix and match the people from both sides. Tenants are required to pay the home owner 1 month's rental plus another month as deposit. I get to collect half the amount from both sides which would be equivalent to one month's rental. There was an indicative price on the rental amount but i was free to mark them up to whatever prices i wanted.
My plan was to mark up every unit by $50 and then reduce it by $25 if they try to bargain. I had such a brilliant business mind, or so i thought...
But i was not ready for the things that was coming my way. I had no idea what to say when i first picked up the phone. Many times i just hung up upon hearing the other party's voice. Or i would just hang up after a few rings and constantly giving excuses to call later or tomorrow.
When i finally had the courage to talk, i simply mumbled a few words asking if they have a room to rent. It was awkward.... I finally got my act together after tens and tens of such calls and eventually decided to come up with my own list of who had what to rent and who wanted to rent what.
The most amazing call happened after about a week. I finally managed to find a match!
It was a hot and humid afternoon and there i was, a pimpled face 16 year old wearing long sleeve shirt and pants trying to look all the professional guy when it was actually my first deal. Boy..was i nervous.
What if they decide to not give me my share of the money? What if its all just a scam? All these what ifs were driving me crazy.
Fortunately all my worries were unfounded. My first deal went smoothly. I pocketed $420 and made an amazing 2000% profit ($420 - $20 = $400) profit.
Delighted at my first deal, i began working harder on making those calls and setting up meetings with landlords to have an idea of what type of rooms they are letting out and other aspects like the condition of the rooms, furniture provided, nearby amenities and types of public transport available.
In just a matter of weeks, i got to see people from so many walks of life. I remember a particular incident where a meet up was arranged but the tenant did not turn. After countless phone calls an text messages were sent, i finally got a reply. Guess what was the message? "Song bo!" was the epic reply that i received. This guy was intentionally playing me out! Making me travel all the way for nothing.
A happier memory did happen when i met an insurance agent who later became a life coach of mine, teaching me some of the financial know how and importance of saving and investing.
Those few months of my teenage life as 'property agent' was truly an unforgettable one with many learning experiences and takeaways.
1) As Richard Branson once said, "If given an amazing opportunity but you are not sure you can do it, say yes, then learn how to do it later." I believe the 16 year old me did just that. I saw the advertisement in the newspaper, took up the opportunity even though i had no idea what to do and there was no one to coach me either. This shows that the beginning is always the hardest, but if you keep going at it, you will find some success somehow.
2) Take an interest in what you do. Know your product. The usual questions my tenants would ask are whether there is MRT or bus stops nearby followed by any coffee shop or supermarket in the area and lastly the furniture and things that the landlords are providing. If i had not met up actively with the landlords and did some mini research on the surrounding areas, i would not be able to answer all those questions. Always try to value add your service.
3) Do not expect results immediately or without any investment of time or money. $20 was by no means a small sum to me at the age of 16. Considering that i earn only $28 for 4 hours of work at a restaurant in my other part time job during weekends (that would be another story for another time). I still gave it a try pumping all that money for 2 sets of paper...
Today i am just grateful that I went through the 'property agent' selling experience. If you are still reading my story to this stage, i truly thank you and i am sure you have many experiences similar to what i have. And if you have read some of my earlier blog posts, you would know that i am very active in looking for ways to save money, invest money, and earning money passively both online and offline.
Almost unreal and unbelievable!
I wouldn't believe it was real either had it not been me making that return back when i was 16.
There was this advertisement in the papers about making money from renting property with no experience required. Not much info was given but i went for it anyway.
The idea was simple. I was to pay this supplier $20 in exchange for 2 sets of papers.
One set contains the list of people who had rooms or whole units for renting out.
The other set contains the list of people who were looking for rooms to rent.
The job couldn't be more straightforward. Just mix and match the people from both sides. Tenants are required to pay the home owner 1 month's rental plus another month as deposit. I get to collect half the amount from both sides which would be equivalent to one month's rental. There was an indicative price on the rental amount but i was free to mark them up to whatever prices i wanted.
My plan was to mark up every unit by $50 and then reduce it by $25 if they try to bargain. I had such a brilliant business mind, or so i thought...
But i was not ready for the things that was coming my way. I had no idea what to say when i first picked up the phone. Many times i just hung up upon hearing the other party's voice. Or i would just hang up after a few rings and constantly giving excuses to call later or tomorrow.
When i finally had the courage to talk, i simply mumbled a few words asking if they have a room to rent. It was awkward.... I finally got my act together after tens and tens of such calls and eventually decided to come up with my own list of who had what to rent and who wanted to rent what.
The most amazing call happened after about a week. I finally managed to find a match!
It was a hot and humid afternoon and there i was, a pimpled face 16 year old wearing long sleeve shirt and pants trying to look all the professional guy when it was actually my first deal. Boy..was i nervous.
What if they decide to not give me my share of the money? What if its all just a scam? All these what ifs were driving me crazy.
Fortunately all my worries were unfounded. My first deal went smoothly. I pocketed $420 and made an amazing 2000% profit ($420 - $20 = $400) profit.
Delighted at my first deal, i began working harder on making those calls and setting up meetings with landlords to have an idea of what type of rooms they are letting out and other aspects like the condition of the rooms, furniture provided, nearby amenities and types of public transport available.
In just a matter of weeks, i got to see people from so many walks of life. I remember a particular incident where a meet up was arranged but the tenant did not turn. After countless phone calls an text messages were sent, i finally got a reply. Guess what was the message? "Song bo!" was the epic reply that i received. This guy was intentionally playing me out! Making me travel all the way for nothing.
A happier memory did happen when i met an insurance agent who later became a life coach of mine, teaching me some of the financial know how and importance of saving and investing.
Those few months of my teenage life as 'property agent' was truly an unforgettable one with many learning experiences and takeaways.
1) As Richard Branson once said, "If given an amazing opportunity but you are not sure you can do it, say yes, then learn how to do it later." I believe the 16 year old me did just that. I saw the advertisement in the newspaper, took up the opportunity even though i had no idea what to do and there was no one to coach me either. This shows that the beginning is always the hardest, but if you keep going at it, you will find some success somehow.
2) Take an interest in what you do. Know your product. The usual questions my tenants would ask are whether there is MRT or bus stops nearby followed by any coffee shop or supermarket in the area and lastly the furniture and things that the landlords are providing. If i had not met up actively with the landlords and did some mini research on the surrounding areas, i would not be able to answer all those questions. Always try to value add your service.
3) Do not expect results immediately or without any investment of time or money. $20 was by no means a small sum to me at the age of 16. Considering that i earn only $28 for 4 hours of work at a restaurant in my other part time job during weekends (that would be another story for another time). I still gave it a try pumping all that money for 2 sets of paper...
Today i am just grateful that I went through the 'property agent' selling experience. If you are still reading my story to this stage, i truly thank you and i am sure you have many experiences similar to what i have. And if you have read some of my earlier blog posts, you would know that i am very active in looking for ways to save money, invest money, and earning money passively both online and offline.
If you are interested to join me in what i do, feel free to download a copy of my FREE Ebook on passive income or you could simply drop me an email at agedashiedwin@gmail.com.
Have a great week ahead!
Cheers! :)
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