She is heralded as one of Malaysia’s most successful property investors and these days, Rachel Lim is a household name in the property seminar and coaching scene. You will expect her to have been born with a silver spoon in her mouth, but what most people do not realize is Rachel hailed from a very ordinary background.
The Rise of a Small-Town Girl
“I grew up in a small village in Hulu Langat and my parents were rubber tappers. I turned out well enough – armed with a degree in finance by 25, I was working your typical 9 to 5 job for a few years,” shared Rachel.
Money was never really on her mind, as she never did have much growing up. Her perspective on money changed after attending a wealth creation seminar. Determined to make money on her own terms and time, Rachel quit her job and over the next few years delved into a flurry of ventures – she did forex trading for over a year, went into multi-level marketing, bought shares and stocks and even tried her hand at running an F&B business. Sadly, neither endeavor produced the results she wanted – not only did she incur losses; she was clocking in too many hours.
Her life took a turn in 2010 after her husband persuaded her to attend a property seminar by the renowned guru, Michael Tan. Sold by the idea of property investment with no money down, Rachel bought her first sub-sale property not long after, and the rest they say is history. Since then, she has invested in almost 100 residential and commercial properties – most of which she flips and the rest are tenanted.
“People say third’s time the charm – for me it was actually the sixth!” quips Rachel. “There is a Japanese proverb; ‘Fall down 7 times, get up 8 times’ – My persistence paid off, after so many years I found my Holy Grail in property investment.
How She Does It
Most people fail to realize that property investment is a business that centers on strategy. Instead, many buy based on their intuition and monthly budget and have no idea what their next step is after they have signed the dotted line. This is known as the Buy, Hope & Pray strategy.
“I was actually in a similar position – pre-attending Michael’s seminar, I had actually bought a few properties without investing in any knowledge and time as well as figuring out what my exit plan was. And I ended up selling them off at a loss as I could not acquire tenants,” Rachel revealed.
She Chooses to Give Back
Rachel has since achieved her goal for financial freedom. Her husband quit his job as an aircraft engineer 2 years ago. Besides spending time with their two children, the couple now travels frequently as they enjoy learning new cultures and meeting different people.
It was during this period that Rachel started coaching and mentoring others in the strategies of successful property investment.
As she explained, “It is a freeing thought – to know that you are in the driver’s seat of your own life. It may sound corny, but I truly believe almost anyone can become a millionaire – all of us are afforded opportunities to work hard, educate ourselves and to build something from nothing.
“For me, there is no greater joy than to see my students discover their potential to achieve their financial and lifestyle goals”.
Rachel’s current goal is to continue shaping as many people’s lives ‘through property’.
This article was first published in the iProperty.com Malaysia August 2016 Magazine. Get your copy from selected news stands or view the magazine online for free at www.iproperty.com.my/magazine. Better yet, order a discounted subscription by putting in your details in the form below.