That was back in 2011 when I met one of the owners. I met him when I first worked for a fortune 500 company and then I had my own real estate company at that time in my home town Macau
That property was in a super prime location, it was nearby the CBD and touristic areas and was situation right behind the Macau parliament. Therefore it was a super prestige area. Right there, there were, well you might call it 3 very old but very colonial Portuguese style villas attached together, naming them No.1 (on the left, next to the main road) No 3 (the middle one) and No 5 (on the right corner with basically the Macau parliament just a few steps on the right). They all facing the stunning lake view.
I still remember I was appointed by the owner of No 1 to just rent out his property at that time. He had done a special approval to turn the house into commercial purpose as well, therefore the goal was mainly to rent it out as a private office, a bar or a cafe. But the problem was there that there were no easy parking in that area and inside the property there was no lift installed too
And one thing I observed was that House No 5 was very old and torn out. If you almost like a haunted house almost failing down and worse case was that the owner had it rented out as slums for low tiers workers which we highly couldn’t understand why
And honestly because of lack of parking and what the House No 5 owner was doing, it just devalued the original potential and returns of this very trophy project. And I was brutally honest to No 1 owner and he said “well if you could sell it for above 5m USD, I could talk to my father and persuade him to sell it. And No 3 was a friend of mine as well and I am happy to put him in touch with you and see if you can be of help too.”
And there I got to meet the owner of No 3 who based in HK. He was a British and a man with a good taste and standard. I still remembered I was talking to him and he was telling me that he literately went to source in London the type of wood which were used to build the window frame for that house and together with redoing the concrete etc, that solely cost him more than 250,000 USD. And again at that time he was looking to rent the house to high level executives who came to Macau for work. Honestly the location was stunning, but again no parking and what’s going on in house No.5 for sure it was not going to help and I highly doubt a VP or CEO of any company would love to live next to the workers.
To me, these two gentlemen really have put a lot to turn the properties into real trophy and I felt bad for them because of how house no 5 impacting their two houses and the rentability.
And on that I have made a suggestion to him as well to resell. I was at that time very clear on two things to them, even if they were lucky to get tenants, the yield will be utterly low and in Macao it was hard to find someone just buy off from them even on the price that want and keep them longer might not do them any good.
I pulled the trigger to act against the original will of the two clients. That’s probably how my investment coaching journey has started before I even realised it myself – Understand the clients, and help them identity among their wish, they wants and their needs and coaching them to do the reality check and support them with the solution that ultimately benefits them and grow their wealth.
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By ReneeThat was back in 2011 when I met one of the owners. I met him when I first worked for a fortune 500 company and then I had my own real estate company at that time in my home town Macau
That property was in a super prime location, it was nearby the CBD and touristic areas and was situation right behind the Macau parliament. Therefore it was a super prestige area. Right there, there were, well you might call it 3 very old but very colonial Portuguese style villas attached together, naming them No.1 (on the left, next to the main road) No 3 (the middle one) and No 5 (on the right corner with basically the Macau parliament just a few steps on the right). They all facing the stunning lake view.
I still remember I was appointed by the owner of No 1 to just rent out his property at that time. He had done a special approval to turn the house into commercial purpose as well, therefore the goal was mainly to rent it out as a private office, a bar or a cafe. But the problem was there that there were no easy parking in that area and inside the property there was no lift installed too
And one thing I observed was that House No 5 was very old and torn out. If you almost like a haunted house almost failing down and worse case was that the owner had it rented out as slums for low tiers workers which we highly couldn’t understand why
And honestly because of lack of parking and what the House No 5 owner was doing, it just devalued the original potential and returns of this very trophy project. And I was brutally honest to No 1 owner and he said “well if you could sell it for above 5m USD, I could talk to my father and persuade him to sell it. And No 3 was a friend of mine as well and I am happy to put him in touch with you and see if you can be of help too.”
And there I got to meet the owner of No 3 who based in HK. He was a British and a man with a good taste and standard. I still remembered I was talking to him and he was telling me that he literately went to source in London the type of wood which were used to build the window frame for that house and together with redoing the concrete etc, that solely cost him more than 250,000 USD. And again at that time he was looking to rent the house to high level executives who came to Macau for work. Honestly the location was stunning, but again no parking and what’s going on in house No.5 for sure it was not going to help and I highly doubt a VP or CEO of any company would love to live next to the workers.
To me, these two gentlemen really have put a lot to turn the properties into real trophy and I felt bad for them because of how house no 5 impacting their two houses and the rentability.
And on that I have made a suggestion to him as well to resell. I was at that time very clear on two things to them, even if they were lucky to get tenants, the yield will be utterly low and in Macao it was hard to find someone just buy off from them even on the price that want and keep them longer might not do them any good.
I pulled the trigger to act against the original will of the two clients. That’s probably how my investment coaching journey has started before I even realised it myself – Understand the clients, and help them identity among their wish, they wants and their needs and coaching them to do the reality check and support them with the solution that ultimately benefits them and grow their wealth.