NEVER TOO LATE TO START INVESTING

There is a saying by Andrew Carnegie saying, “Teamwork is the ability to work together toward a common vision. The ability to direct individual accomplishments toward organizational objectives. It is the fuel that allows common people to attain uncommon results.” This is probably the best quote to describe the teamwork between Shariz Azim and his investment partner, whom also happens to be his wife. The dynamic duo not only go through life and personal issues together, but also through their investment journey, and what better partner to ask for than your wife.

Shariz works as an IT engineer in a multinational company since 2002 but has started investing in 2009.

The first investment started with a house in Seri Kembangan meant to be a forever home for Shariz and his wife. “We took at least a year to make a decision to buy the house. It was situated in a dark, empty area, it almost looked like a wasteland,” says Shariz. Eventually Shariz and his wife decided to purchase the property using his EPF for the downpayment. “The funny thing is, the house was such a weird buy for people who probably don’t understand property, because even our banker asked us if we were sure about our decision,” Shariz said, chuckling.

As of now Shariz and his wife have 3 properties under construction, and 3 more at hand. It took a lot to get to where they are today. “The difficult part is probably getting the best deal in town. Asking yourself, ‘is this the best purchase I will get?’, because you really want to make the best out of your quotas,” exclaimed Shariz. Shariz says, to ensure you are getting the best deals, it is always important to be equipped with the knowledge needed. He adds, “while it’s important to find the right guru with the right knowledge, it is also important to get the right guru that suits your investment style.” According to Shariz, most property masters have the knowledge, and are indeed willing to share that knowledge with other investors, but finding the right guru is just as important as finding the right deal.

Shariz and his wife both decided to invest in property to prepare themselves for retirement. “The strategy is to hold and rent out the properties we have, then after 5 years we slowly let go in stages,” shares Shariz.

Shariz does his due diligence thoroughly before purchasing a property, by asking the neighbours what they think of the area. From mingling with the locals to eyeing the small details like looking for school busses in the area, Shariz makes sure he knows what his tenants can benefit from his property. “We target families when renting out our properties, so I put myself in their shoes and make sure their children will be able to go to school without hassle. It’s the small details that make a difference,” he claims.

For those who are starting up, make sure that in order to invest, to start calculating the cost from S&P to the monthly payment so you know how much you have and how long you will be able to last, with a safe bet being having holding power for at least 2 years before investing.

In terms of managing investments, Shariz and his wife both keep their investment earnings in a separate account for easy tracking of their cash flow. “Even when you rent it out, get everything in black and white, and ask your tenants 3 to 4 months before the contract ends, whether they want to continue or not,” shares Shariz. When writing up the contract for the property, take pictures of the property and include it in the contract, as it will be useful for both parties at the end of the tenancy for better transparency.

Shariz believes in spending more to earn more. The properties he has are renovated to increase value in property. “If you want to earn, you have to spend, including renovation and hiring designers to beautify your property. You should also hire a good agent, and don’t be too stingy on that,” Shariz shares with us.

For now Shariz, together with his supportive and savvy partner and wife make sure they register with good developers for good deals and follow the trends and the developers updates via forums etc. This year they plan to start venturing into the auction property market. “This year is a good year for us to start buying auctioned properties as the market is really slow. There will be many investors desperate to sell.

Many people find their soulmates in life, very few marry them, but a handful spend their lives with their exact equals. The marriage of Shariz and his wife isn’t only a personal journey of happiness, but also a journey together as property investors, being a good team with check and balances for each other.