Video Transcription:
Hey Guys, so I'm a parent four times over. So four kids, all young, between about nine years old down to three years old. Well actually turning four and turning nine. But the reality is that one of the strategies that I worked in before we hate kids, was that I bought one property per kid I was going to have. Okay? And to be fair, they weren't expensive properties they're about 120 grand. And look, in the grand scheme of things, I probably won't actually give them to them. They probably won't become the properties that I, if you like, use for their education or whatever. But the one thing I did was I said, "Right, I'm going to buy a property per kid, and then that will pay for, by the time they're in their 17, 18, 19 whenever they got to university, that'll pay for their university."
And to be fair, some have performed better so far than others. We're sort of 10 years on, I guess I've had those properties for. But I think it's a really good strategy, and it might seem like to you, "Wow, how can you buy four properties?" But you can, and it doesn't have to be all bought at once, it can be bought over time. But if you think like that and you set goals like this and you put aside those properties like that and just think that's what they're there for, things start to look pretty easy. And if you start really building out with a long view, and I guess this is the real point I want to make here is, if you start with the long view, actually the short term pain doesn't really make much difference.
I, probably at the stage, I had to put maybe 30 or 40,000 pound in each of those properties, and the reality is the pain there from that, versus what I've got now, which is an income producing vehicle, yeah, I've paid down some of the mortgage. I've actually got the prices have gone up and it's looking very good, that I will easily pay for their university, and more in fact, when it comes time.
And actually, one of the other things that I've done further to that is I've actually gotten properties in London just in case they want to live in London. So the plan is just to hold onto those for 20 years and not really do much with them. And so when you start thinking longterm like that, and I'm not saying buy one per kid or anything like that, that's what I did because I figured, you know what? I'm probably going to use that, I'm probably going to need it. And by setting it up so far in advance, it just makes it so much easier, because it's not costing me any money, those properties are making me money now, forgetting about the capital growth and just focusing on the income, you know?
So they're very good like that. And I have to say, it's one of those things where when you start thinking out into the future, when you start planning out into the future, you'll start to get a real sense for, actually that's not that hard in the grand scheme of things. But if you constantly looking thinking, wow I need to get to 20 properties tomorrow, that's hard. But when you think actually, you know what? I need to get four properties and I need to hold them for probably 10 years, by the time they're 10, I need to get to four, so I need one every two and a half years. That actually is a realistic goal, you know?
And when you start breaking it down like this, your goal is longterm, but you start acting, making small actions up front, it's amazing what you can achieve and it's amazing how little you have to achieve to get a sense for, actually I've got that covered, I've got that covered. Like university, I'm not worried about my kid's university, because I've already looked after it. You know? Now we worry about our kids schooling, because obviously it's bloody expensive in Singapore for four kids. And look, do we worry about it? No. I mean I complain about it because it's so bloody expensive as I'm sure most parents do that know about that, because it's not just the school, it's the shoes that they have to buy every five weeks when grow out of it, you know? And I'm six foot four, so my kids are growing pretty tall, especially considering other Asian kids in Singapore.
But look, bottom line is, it's one of these things where if you set your goal out there and then you take small steps towards that goal, it's amazing how quickly you almost tick off that goal. Even though you may not have achieved it fully, you can tick it off and get a sense for actually that's done, that's done, that's done, that's done. And you get a real sense for, this is not a problem, this is easy, this is simple. And yes, you have to do things and you got to save up money, you got to be disciplined and all those sort of things.
But sometimes when you focus on those small things that you got to do, the disciplines and the savings and that, I need an extra 10 grand, I've got to save this much money before I get in, oh the markets dropping, oh the finance has changed or whatever it is, actually sometimes when you stop and you look at in the distance, you go, "If I can do this by the time I'm 55, if I can do this by the time I'm retired, if I can do this by the time my kids are 18 or 17, then actually it's a lot more ah." And that's the feeling that we want, that's effortless.
So guys, that's just my thoughts and my little rant for the day. Have a great day. Live with passion. Remember, subscribe, follow my channel. Any questions you've got, chuck them into the comments section, I'm happy to either respond to the videos or actually have a bit of a discussion online. But yeah, I love talking property. So yeah, jump down there and I'll hopefully speak to you soon. See you later. Bye.
