Ajib Adi: A Self-Made Millionaire By 30

Ajib Adi: A Self-Made Millionaire By 30

By all counts Ajib Adi is your average Malaysian young man. His pleasant disposition, polite demeanour, passion for his career and love for his family are traits many Malaysian men share. Yet Ajib at 30 has achieved the rare feat of becoming one of Malaysia’s youngest self made millionaires at a time when many of his fellow Gen Ys are struggling to cope with financial commitments.

AN EARLY PASSION FOR PROPERTY INVESTMENT

At 18, when Ajib first saw the Petronas Twin Towers, he knew he wanted to own a property in the KLCC vicinity. The stunning view of the towers triggered a strong desire within him to seriously consider property as an investment tool. The early identification of property investment as his focus paved the way for his success. Ajib’s foray into property investment and his journey to becoming a millionaire by 30 began small with his purchase of his first apartment.

It cost him only RM200,000 but gave him a return of almost 200% when he sold it four years later. He immediately invested the returns into purchasing another piece of property. Ajib continues with this simplistic approach to investing in property today but exercises the discernment he has acquired with a better understanding of the property investment landscape.

FOCUS IS AJIB’S FORMULA FOR SUCCESS

Ajib attributes the achievement of his millionaire status at a young age primarily to his focus on the property sector. His property portfolio consists mainly of condominiums but also includes SoHos and shoplots located in Klang Valley. He developed his interest in the sector through various platforms but identifies the early presence of a mentor in his life as a key contributing factor to his success. Ajib’s mentor is none other than Malaysia’s most recognised property investment coach and independent financial trainer, Milan Doshi. He views his relationship with Doshi like that of Tan Sri Tony Fernandez’s and Richard Branson’s of Virgin Airlines.

He described their relationship as one of friendship and trust. A key lesson he learned from Doshi very early on in investing in condominiums is to concentrate on those that are priced below RM500,000 as they would give him assured rental returns. Another factors that has led to Ajib’s success is his participation in a property interest group with many of its members being property agents. The group keeps him updated on launches, new opportunities and market insights. He believes learning is a lifelong process but stresses more on the importance of acting on the knowledge he acquires.

Ajib is also guided on making the right investments by studying the purchasing patterns of the Malaysian Chinese community. He has learnt that projects which predominantly consist of Chinese residents usually offer better rental returns. He emphasises on the importance of property investment for the generation of passive income long term over the short term profit approach practised by investors who prefer to buy and sell. This of course also frees him of having to pay the Real Property Gains Tax (RPGT).

Ajib does not place too much significance on his Bumiputera privileges as a key factor in helping him accumulate his wealth. He is however appreciative for the savings of between 5% and 7% he enjoys on property purchases. He also agreed that given the lower participation of Bumiputras in the property sector, he often had the opportunity to select choice units when making a purchase.

REALISTIC EXPECTATIONS KEEP AJIB GROUNDED

Ajib believes very much in keeping his expectations realistic and his goals clear. Although a millionaire, Ajib continues to work in full employment as the GM at Coway Malaysia. He is passionate and motivated by the company’s work culture which accords him with much opportunity for self-development. Although Ajib can easily afford to live in his dream home, he has chosen to live in one of his more affordable invested properties so he can keep his overheads low and channel his savings to investing in more properties. He is a strong advocate of the setting up of a reserve fund so as to ensure his risk exposure is low at any given time.

There is however no slowing down this self-made millionaire who seems unperturbed by the sluggishness of the local property market. He attributes the current market outlook to poor sentiments and is actively looking to invest in high density areas where demand is high. In Klang Valley, his focus remains on projects serviced by the MRT line. Beyond Malaysia, Ajib has set his sights on Singapore and Hong Kong as he knows that the scarcity of land on both these island states will continue to drive property prices. With his focus remaining strong on property, millionaire Ajib has clearly set his sights on becoming Malaysia’s youngest billionaire.

 

Share