Ong Chyuan: Owning His Dreams In The Face Of Adversity, One Step At A Time

The young daredevil rubs his two cents together on earning 30 properties, before the age of 30

Ong Chyuan sits effortlessly in his chair, hands clasped easily on the table in front of him. A glance at him, one would think that he would be your average young, mid-20’s Malaysian youth, just starting out on his journey to seize his path in life. But standard and ordinary, he is not.

Nomadic roots

Born in Butterworth, Penang, Chyuan grew up in a humble family of six. Living under difficult conditions for most of his early life, his parents were not able to own a home, therefore the family found themselves living nomadically and renting from Penang to Kedah, moving around to fit the climate of their financial means. “We’ve rented from places to places; from single story terraces, to tabooed places near cemeteries, sharing our home with pigeons that nested in our rooftops and windows”, he reminisces with a wry smile.

It was this state of constant change that spurred his earliest goal in life – to inherently become a bona fide property investor.

Scrambling around as much as possible in his younger days to improve the condition of his family, Chyuan made it a point to work hard at what he wanted in life. At the age of nine, he made WWF-Malaysia scrapbooks and sold them to classmates, progressing the following year to selling homemade wallets and recycled newspaper to double his income. The money earned was minimal, but at that age it was a small fortune, a symbol of fortitude to the young entrepreneur who did not have the privilege of having his own pocket money.

Tertiary education saw Chyuan sailing through an array of jobs, working part time as a waiter, kitchen helper, dishwasher and so on. Upon completing his form five level of education, he decided to stop studying. However, seeing his friends doing the same and becoming mechanics with low wages, he decided that the money was not enough, and continued onto form six and straight to university at UUM (University Utara Malaysia). Undergoing a business administration course gave him a practical mindset in terms of understanding how the modern world of commerce works, pushing earlier desires to be a lawyer or a doctor out of his mind. “I remember going through my days at university with a minimum budget of seven ringgits a day. For some it may seem a lot, but it consequentially only provided for one meal a day, and some bread on the side”, Chyuan adds.

The inception of a dream

When he first came to Penang to work in his early 20’s, Chyuan had no savings. His first two months on the job allowed him a minimum budget daily, and he constantly tipped the line between Roti Canai and instant noodles for daily meals. It was during this stage in his life, that his ambition to own properties propelled and flourished. He made the daring decision to own a house for himself.

 It would suffice to say that the memories of his past fuelled this passion, and he soon made it into a reality with a 3200 sq ft semi-detached home. “I remember the first time I told my parents of this idea, and the rebuke that I got from them, as I had just started working. They called me crazy for making such a decision”, he adds with a smile. Chyuan was not swayed, as it only served to push him harder to make that goal a certainty. His home in Penang was bought at a good deal, via the right loans and stable down payments. After buying his first home, he followed up with another one the following year, thus cementing a vision to own 30 properties, before reaching the age of 30.

30 properties before 30

Even in his young age, Chyuan knew how the market worked. He gauges the market as it fluctuates within the years, and has come to the conclusion that to acquire 30 properties within the next four years, he would need to be a partial millionaire! However, it is his blatant positivity that drives him, every day.

When asked why specifically 30 properties, Chyuan answers without hesitation. “It is a straightforward way that people of less fortune can become rich. You have to leverage the banks, and for people with no capital like me, you can only depend on yourself”, he states enigmatically. A subliminal factor that contributes greatly is undoubtedly his childhood, going back to the days of growing up destitute without a firm place to call home.

Currently the proud owner of two properties, Chyuan still has a far way to go in reaching his ultimate goal. In the meantime, he takes immense pleasure in imparting his knowledge about the real estate market with his fellow peers, teaching them lessons in investing.

Chyuan’s four mantras in property investment :

Purchase within your affordability. Know exactly what you have, and to be mindful of spending habits, especially if you are younger.

Research the current real estate market, and your options, thoroughly. If it is affordable, you need to ensure that your debt service ratio (DSR) is apt. Once confirmed, discerning the right type of property and price range will be easier. And of course, finally deciding on which one would gain the most profit and appreciation in the future. Inherently, it is all about making that first step, and being aware of the risks.

Personal due diligence. Rely on yourself entirely, seek the guidance and advise from property lawyers and bankers that would pertain to their field of expertise.

Look for the standard points in property investing – undervaluation, potential for capital appreciation and rental yield (depending on your purpose for purchase)

Chyuan still has a long way to go, but in his mind, it is just part and parcel of life’s tribulations. It is his dedication and discipline that motivates him. “In my life, I’m riding a bicycle on my own. If I stop, the bike stops too”, he chides. The young investor also credits a huge part of his current success, to the idea of demotivation – as challenges make him stronger and fight harder for his dreams.

Looking into the future, Chyuan eagerly admits that he has a long term three-tiered goal. Firstly, to own a house in every Malaysian state, secondly to own his 30 properties, and lastly to ultimately invest in overseas markets. The young man is certainly not stopping anytime soon, and his progress will surely be a great thing to behold.