John Lee is the CEO and co-founder of Wealth Dragons. He is also a motivational speaker and trainer and has shared stages with Bill Clinton, Alan Sugar, Richard Branson, Jack Welch (ex-CEO of GE) and Randa Zuckerberg (co-founder of Facebook).
John started investing in property in his early 20s. By the time he was 27, John had achieved his goal of becoming a self-made millionaire. His experiences inspired him to share his knowledge with others and he was soon teaching at seminars in property investment throughout the UK. John is also dedicated in showing others how they can have the opportunity to do the same.
iProperty.com Malaysia had the privilege to interview John, where he spoke about his journey to success. He also shared on ways to invest in property and create a passive income in Malaysia.
WHEN DID YOU FIRST REALIZE YOU WERE RICH? WHAT DID YOU DO?
I do not label someone as rich according to his/her monetary value. It is about knowledge. Knowledge is the biggest asset and not just the money and property. I called myself rich when I had the knowledge. I have the thirst for knowledge and I believed so much in the saying ‘one must learn before he can earn’.
Once I had acquired the knowledge to earn more money, only then I realised I was rich when there wasn’t a need to wake up early in the morning just to check my phones to see if I had meetings and deadlines to meet. I certainly do not have to answer to my bosses’ calls and most importantly I only worked when I wanted to work. I have also travelled to many destinations in a click of a button.
HOW DID YOU GET STARTED IN THIS BUSINESS? TAKE US THROUGH YOUR JOURNEY.
At 24, I was working as a computer animator. During that period, my friend gave me a book which explained about something that can be done if one does not have to work anymore.
The booked quoted that, “You have to create a channel for money.”
Curiously, I went on the internet to discover some ideas on how to make money ‘without working’. To my surprise, everything that popped out was about real estate property marketing ideas.
It was then £350per workshop which seemed very expensive as I could not afford it. I asked my uncle if he can lend me that amount of money to attend the workshop. I was also reminded about the amount of knowledge that I can expect from a one-day workshop.
Following that workshop, there was another option called ‘peer group networking’. The cost of joining this group and gain more knowledge was £3,500. Unfortunately, I did not have that much of money with me at that time. Hence, I went home debating with myself on getting that amount of money.
Without thinking any further, I sold my car for £15,000 to pay the fee for the ‘peer group networking’ session. Remarkably, within the first 4 months after joining the network, I bought my very first property for £85,000 and sold it for £195,000. Then it came to my understanding that I made 3 years of my salary within a few months.
Then, I was looking for a mentor. I had no choice but to engage a mentor for a 2-days guiding session. Within the next 6 months under the tutelage of the mentor, I bought another 35 houses. I truly never thought I could do that. Finally I could finally affirm that I have found the right and effective way to leverage on the property market.
HAVE YOU BUILT A PROPERTY PORTFOLIO BIG ENOUGH TO RETIRE?
Certainly, yes. I did it when I was 27. Now I am 34. It is somehow not an easy thing to achieve. One needs to go through a lot of trial and tribulations as well as having a resilient mindset. People who want to create a portfolio earlier on in their early adulthood should constantly be involved in the business and must not be willing to give up at any circumstances.
WHAT ADVICE WOULD YOU GIVE TO SOMEONE WHO WANTS TO BE A PROPERTY MILLIONAIRE?
There are 3 things I would suggest – education, mentor and massive action. Some people assume that they can try investing in real estate without any knowledge about it; which is wrong. In the property business, if it is not done in the right way, it can lead you to many risks. Secondly, mentor. You must find someone to teach you the strategies and introduce you to the real world scenario. The mentor has to be someone who (has) ‘been-there-done-that’. Last but not least, it is the massive actions that count. One has to really be on their toes to see results.
I urge everyone who wishes to be a property millionaire to get educated. One has to be smart, wise and cautious besides being dedicated.