Like many investors, Nhan Nguyen once believed what we all believe at some point, that success means going to school, working hard, getting a good job and maybe one day having enough money to retire. Then he read Robert Kiyosaki’s Rich Dad Poor Dad and his views changed forever.
Then 19, Nhan decided that his future would be best served by investing in the property market. The Brisbane local started attending a multitude of investment seminars and tried to soak up as much property information as he could. Soon he had a new goal. Young, ambitious, he set his sights on buying 200 properties.
“It was just a goal I set myself. It had nothing to do with going into development or the strategies I’d use to get there. All I knew is that I wanted about $200,000 a year in passive income. I just had to work out how I would achieve this,” he says.
Nhan made his first step in reaching this goal at age 21, purchasing his first property. On reflection, he says the financing was easy because he had some savings stored up and was able to access the first homebuyers grant.
The problem came when trying to arrange his next property. “I had to get creative because I didn’t have any money left. I thought, ‘how can I purchase without putting any money down?’ and it got me thinking.”
What helped was that since university Nhan had been working in the property industry. He had first done 12 months at a property education company and then some time at a development and marketing company. The exposure to big property deals gave him great insights into how to negotiate deals, find partners and get wind of opportunities.
Armed with an arsenal of ideas on how to progress forward, Nhan began picking up an array of properties in the Brisbane area – all financed without any of his own start-up capital. By the time he was 23, he was in a position to branch out on his own, becoming a full time investor.
Find out the rest of Nhan Nguyen’s amazing journey through property investment in Your Investment Property’s May issue, hiting newsagencies tomorrow. Alternately, grab a subscription to our iPad or print edition.
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