Oei Hong Leong shared how he made money from property...

[Dennis Ng]

recently at the SME conference, Oei Hong Leong shared one strategy he used to make money in property.

He shared an incident where he invested in a office building in New York near World Trade Centre. The building's anchor tenant is government of New York, paying a "subsidised" rental. First thing he did is "re-paint" the building and do some minor improvement and renovations.

After he bought the building, he chased out the New York govt by jacking up the rent on lease renewal. After this tenant moved out, he offered a 3 year lease at market rates (about 4 times what the New York govt was paying) with sweetener of a 1 year Zero rental deal to Amex and Merill Lynch. After both these tenants moved in at market rental (zero rental 1st year is special deal to them), he managed to increase rental when lease up for renewal for other tenants.

3 years later with an improved tenancy in the building and much higher rental income, he managed to make more than 100% return on this property investment.

the above knowledge which Oei Hong Leong shared was also not reported in any newspaper articles featuring the SME conference.

Now you know why I really like to attend seminars? : )

Becos sometimes, the ideas and knowledge learned is many, many times the price of the "seminar ticket". In thise cae, I paid $65 for the conference, since my company is a member of Singapore Chinese Chamber of Commerce and Industry, instead of $100 for public.

Cheers!

Dennis Ng, http://www.HousingLoanSG.com - FREE unbiased analysis of ALL Housing Loans in Singapore!