Salam and evening guys.
Did a 1on1 session with these 2 business owners recently and I thought their story is worth sharing. Some background about them :
– Started their business about 2 years back
– Last 12 months was great for their business that they made 7 figures in profits
– One of them has 1 property and and of them has yet to buy 1.
– They wanted to explore how do they use the profit made from their business and grow it further through properties.
I asked them why they even bother looking at properties as they are already doing so well in business.
To my surprise, this was their answers :
a. They have seen many of their business peers who did well on their first 2-3 years and their owners bought gigantic bungalows and posh cars.
These business owners then was forced to sell their cars and houses when their business dont do well and some of them were forced to shut down their business.
b. They realised their business is highly seasonal and will be hot only for a while so its important that they start buying income producing properties when their business is doing well.
c. They realised that their largest competitor owns close to 100 shops and retail locations and this has made their competitor’s owner become very, very rich ( that competition is worth 9 figures today)
So I proposed a few strategies that will allow them to get the following :
1. Potentially earn passive income of RM48,000 per month after 5 years.
2. Potentially pay zero interest in their respective properties mortgages.
3. If their business becomes obsolete and they have to close it, they will still be worth a few million per person via these properties.
4. One of the owner wants to buy a Ferrari. Told him that if he can wait 5 years, he will be able to drive one for FREE.
Can anyone guess how can they achieve this? ^^