Amy Tang Transcript

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Amy Tang:
For the first house and we finish work Friday in late evening and then drive out get there about midnight, sleep on the ground and start renovating in the morning and all day Sunday and drive back Sunday night all ready for work on Monday again.

Tyrone Shum:
This is Property Investory where we talk to successful property investors, find out more about their stories, mindset and strategy.

I’m Tyrone Shum and in this episode, we chat with Amy Tang who despite her responsibilities as a mother, manages a large property portfolio with her husband. While working as a property developer, she shares how she transitioned from a commercial designer to working in property.

Despite having no prior exposure to the property investment industry, Tang and her husband managed to dive head-first into the field motivated by the potential of a more comfortable lifestyle.

Amy Tang:
I am a full time property investor developer and investor and I’ve been doing this for just under 10 years now and never grew up with a family who had done property or investing. It was a skill that I picked up with my partner after many years of working in the corporate industry and just not being satisfied with our day to day life living in the rat race. And we sorted out for a different career something that we really could sink our teeth into, be really passionate about and give us a tool to really create the balance and the dream life that we want which is property developing, which is what we specialize in doing now. And we also educate people around Australia in small property development.

Tyrone Shum:
In any given day, Tang is tasked with her job as a property developer and is also busy mothering her young toddler.

Amy Tang:
My day is very varied. I had a cameraman follow me around last week actually to do some PR promo stuff and you know I’m also a mother and I have a little two and a half year old.

So I’m up pretty early with her, just getting her ready with her pre-school, feeding her, that sort of thing. And then at the same time I get ready for planning for my day which involves a lot of meetings with various, my teams, our project managers for example. Yesterday had to meet was the architect, had to meet with a furniture stylist had to meet with the commercial finance broker on getting a closer approval for funding of some big development and then I had to be on site to check on two projects. One nearly finished completion and one due to demolition and then basic run around with tidying up of the day to day of the projects as well. Making sure that from keeping on top of who’s supposed to do what. So my day is never the same.

Well I keep my To Do list quite short so I’ve got the priority thing to do but when I break into the little things it’s all about being focused like yourself to achieve what you need to get done.

Tyrone Shum:
Tang’s passion for industrial design began when her family migrated to Australia when she was 7 years old.

Amy Tang:
I was actually born in Hong Kong and lived in Marysia and Hong Kong for the first seven years of my life there. So my parents you know gave me a great upbringing.

I lived in a tiny 40 square metre apartment in Hong Kong with you know my grandparents, my brother, little pets. But it was great. That’s all we knew and it taught us how to survive in a big city as well. But my parents wanted a better greener environment for us growing up so we migrated to Australia when I was about seven and I went to primary school and high school in Sydney and also started and got passionate about industrial design, all things design at university. And from there it really led me to get a drive and be passionate about setting up a career that you know I could really achieve things in life. I was always hungry for information and for creating things in life.

Tyrone Shum:
Before working in property investment and development, Tang was heavily involved in all fields relating to design. Her previous job in the commercial design industry helped her learn many valuable skills which she translated to her current job.

Amy Tang:
I definitely had multiple jobs before then but I studied graphic design, marketing and design, jewellery design, furniture design, bit of interior as well and that led me to get jobs for a commercial furniture company and I did a lot of design and marketing for that company and I was in that commercial design industry for about 10 years. So I was able to work in that corporate environment and learn about marketing product development, event management budget forecasts from getting a product from conception to selling it, to big commercial markets. So that was a really cool experience and time for me because it taught me a lot about fitting systems and working with budgets and timelines and that eventually gave me the skills that I needed for property development which is what I do today.

Tyrone Shum:
While Tang had been happy working full time in the commercial design industry, she’d always wanted to live a more comfortable lifestyle, where money could be made easier. Having discussed it with her husband, they both decided to turn to property development.

Amy Tang:
Well my partner Jason Byron, he came home one day and he said look I’ve done some filming and some filmed some really cool speakers and they’re talking about property investing and we really should look into it because we’re both working hard in our jobs stages, which we loved but we just didn’t have much to show in terms of saving and in terms of time. And so while I was working full time we explored into education in property investing and we learnt a little bit by little bit different strategies, different skills. And we started just doing little deals while we’re working full time.

It was a bit tough at the beginning. We had to make use of every little time, a lunch breaks before and after work, weekends to actually do those deals. But we do what you gotta do right to make a change in your life.

Tyrone Shum:
The couple was quick to find their first investment property and based on their own research and knowledge, applied a few value-adding strategies to the property which eventually resulted in a little bit of equity.

Amy Tang:
So we learnt about renovating and doing removable houses and subdividing so they were like little strategies and we thought “Cool let’s try it”. But we weren’t the average couple who’d just start renovating. We did like three, four strategies in the first one. We started small because we only had a little bit of savings so we went out in the country of New South Wales, seven hours out of Sydney and we found a little block where there was an old house on it that needed a bit of work but next to it there was a spare block. We thought “hang on, there’s immediately value we can add to this”. We did all the research and due diligence and we knew that we could make a little bit of profit on this deal. So that included renovating an existing house, just cosmetics, subdivision of the land of the nextdoor land, so we could do something with that. And then when we also looked at putting a relocatable house on that spare block a relocatable house is something that’s an old house that’s been not demolished but that’s still in good condition that it could be put back together and renovate it. We renovated that one too. And at the end of it we got two houses that were renovated and it had positive cash flow and a little bit of equity by the end of eight months.

Tyrone Shum:
Their first investment wasn’t easy however, as it’s location meant that the couple had to travel far and make time for its development despite both working full-time hours.

Amy Tang:
Well we didn’t drive out every weekend during the eight months. It was just till the renovation. I think I was about five to seven weeks with that straight.

For the first house and we finish work Friday in late evening and then drive out get there about midnight, sleep on the ground and start renovating in the morning and all day Sunday and drive back Sunday night all ready for work on Monday again. It was definitely interesting experience and we learnt how to manage time very well with meeting different trades on site getting materials and tools during the week. I was getting quotes during the week with trades and just you know meeting five trades at the time on the Sunday morning like “What’s your price do this, can we do this, great. Let’s get started: And so it was really good experience to be honest.

And it was a small deal with very little loan. So we felt it was a huge risk at the end of the day, if we made mistakes not that we did.

Tyrone Shum:
Despite its success, the couple’s first investment property was definitely a challenge. It was a far-away property because it was affordability.

Amy Tang:
Purely affordability. And we did like a grid analysis from Sydney where we live and we went further out further out, we just couldn’t afford being in the city. Okay let’s look at something for a hundred thousand and under and eventually got further and further and we saw those potential for good rents in the area and also untapped potential in these old houses that needed work.

That little town didn’t have too much industry going for it but it was a solid little town that had people living there and people were still buying renting and selling. So there just wasn’t many developments going on in there. So when we did put in the subdivision application the council was like “ah yeah yeah definitely”. It was approved very very quickly. It was an easy subdivision.

Tyrone Shum:
While the investment wasn’t hugely successful, it did make the couple enough money to use as a deposit for their next investment. The experience also taught Tang many lessons as she now prefers to buy new properties over old ones that require major renovations.

Amy Tang:
Look, that little one by the end of the eight months we had two properties renovated that we rented out positive geared and we also had created a little bit of equity by that time which were able to refinance my property and then gave us that equity as a deposit for the next deal that we were going to do. We were pretty happy with that.

Tyrone Shum:
So I guess from that experience I actually when I wanted to probably know a little bit about is when you actually got that deal through and so forth. Do you have you kept that particular property since then or have you sold it since then.

Amy Tang:
We’ve actually sold one half of it and we’ve got the other half and it’s still positive gear. So yeah, they are a little older properties so they require more maintenance on it yearly. So one of the lessons I’ve learnt since that first deal is that I’d prefer to have newer properties on my portfolio.

Tyrone Shum:
Coming up after the break we will delve deeper into Amy Tang’s property investment journey as she shares her worst investment moment…

Amy Tang:
But I would say something that I don’t like in a particular deal that we did was we had water issues after building

Tyrone Shum:
Conversely, the a-ha moment in her property investment journey…

Amy Tang:
That one… I look back and I go wow that was completed so quickly and efficiently and it didn’t require that much of our time in terms of day to day.

Tyrone Shum:
Why she has chosen development as the core strategy behind her property investments.

Amy Tang:
But yes definitely that was an a-ha moment for us to change all our past property strategies and focus on property development as our core.

Tyrone Shum:
And that’s next. I’m Tyrone Shum and you’re listening to Property Investory.

Despite the struggles, Tang was always keen on making money from property investment and had never considered other vehicles such as shares.

Amy Tang:
We actually haven’t really ventured into shares or you know building a business at that time. Jason was already working in a family business which you know, he was always tired and doing seven days a week effort on it. And we thought okay well we haven’t looked into property but it was about getting the right successful mentors that we’d learnt from that gave us the confidence to give property investing a go. We didn’t know much about shares. We didn’t really want to and we heard a lot of people lose money in shares. Business was something that I’d always been interested in to but there wasn’t a particular product or venture that we were looking at. So we just really fell into property and started learning from the best people out there. And then the journey just continued on.

Tyrone Shum:

She recalls struggling with water issues with one particular property as her worst investment moment throughout her whole property investment journey.

Amy Tang:
Look I would say that every property deal we’ve done and we’ve done quite a bit over the last 10 years had it challenges. Property investing in developing is about solving any challenges or hurdles that come through in the most efficient time right. But I would say something that I don’t like in a particular deal that we did was we had water issues after building and I’m sure you hear it from lots of builders and trades as well. Water is something that to seek them and you don’t know where it’s coming from. And sometimes it can be out of your control. You don’t know until the house is completely finish. So we did have the house that we were building brand new and everything was going great. Builder was on time. Just one house that we’re building and on completion we’d got a certificate signed and paid the builder, all done and then we had a really big torrential rain one day and the water started coming in through the side of a house through our floorboards. And where we were thinking what’s going on. So that was definitely a bit of a tricky situation there. And you know the house we always felt like we had a lot of flood in the house. So that water saga continued on every time it rained and we weren’t able to fix it easily because we needed access from our neighbors next door because we’re right on the boundary to them the house and they would not give us access.

Tyrone Shum:
For Tang, what bothered her more than the water issue was her having to negotiate with uncooperative neighbours to fix the water problem itself.

Amy Tang:
So that was really about how do you negotiate with neighbors to come out with a good outcome because it took months to negotiate and in the meantime we had to only work with repairing on our side to stop the water coming in. So that was a very tricky situation and the builder couldn’t do much. It was all about if we could get access we could do it. In the end we did come to an agreement but there was a lot of paperwork, a lot of meeting with all the parties involved to work out that solution. So that was close to the beginning of our property journey to so we were really a little bit fearful at that time of what to do. But coming out of that, we were like hang on that wasn’t too hard next time. Now we know if you building on the boundary you need to have this sort of build, this sort of gap this sort of agreement with the neighbours to allow for any sort of water issues to be dealt with easier. In every project we do we always look at okay what’s the slope or plan, how do we stop water getting in, how’s the drainage. So anything to do water we put a lot more time and discussion with our team of engineers to make sure it’s a flood proof area.

Tyrone Shum:
From the experience with this particular investment property, Tang has learnt to resist the temptation of blaming others, as she believes that pointing fingers will never actually resolve the problem at hand.

Amy Tang:
Well the builder actually had a dispute with one of his directors at the time with the build and I believe that they did make a mistake with some of the levels of the house too. So it was a mixture of desire not the architect but more the builder and the site foreman during the construction and mismanagement from their part that led to that issue at the end. And we had to work with all the certifiers, Department of Fair Trading, to be mediators but at the end of the day you’re really just dealing with how to fix the problem. Cause you can point the fingers and keep pointing the fingers but you know it doesn’t get any worse than what we’ve learned.

But how can we all work together to come up with a solution. We can blame you but you’re just going to come back to us and we’re not going to progress any further.

Tyrone Shum:
On the flip side, Tang’s a-ha investment moment was with her first development project, of nine townhouses in Brisbane.

Amy Tang:
I would say our first, the first mini development is probably our first big a-ha moment. We’d done a lot of strategies for developing, renovating, subdividing tiling, removable houses and they were very hands on type of strategies. But when we did our first development which was nine townhouses in Brisbane.

Tyrone Shum:
That’s the big development.

Amy Tang:
That one… I look back and I go wow that was completed so quickly and efficiently and it didn’t require that much of our time in terms of day to day. That was all about finding the right site at the right time at the right price, and working with our very good A team. And you know we’ve got strategies on how to find the best team within what we do. And because we have the people who are able to help us manage that process and get the right solution right design and get it approved quickly, then it was just a matter of finding the right builder and getting that done. But that project was completed within within 18 months from start to finish. Settlement to settlement. And we made a really good profit on that one. And our clients were very happy too. I can’t think of any major issues we had with that project was very very seamless.

Tyrone Shum:
With the positive experience of their first development project, Tang and her partner decided to stick with development as their core investment strategy.

Amy Tang:
And so you know I think how can we do development right we’re just doing renovating but after doing that nine townhouses it really gave us the confidence and inspired us to start just doing new properties. Building new products and multiples as well in areas where it needed it because it was just following the system and a process and having the right team in order to do that deal quickly and at the most highest profit. And I think that one would have taken me you know not full time, maybe a day or two maximum a week. I look back and it was really easy actually. You know each team has its own little ups and downs but it’s all part of the process. But yes definitely that was an a-ha moment for us to change all our past property strategies and focus on property development as our core.

Tyrone Shum:
The couple settled on property development as their core strategy after testing out various other strategies and weighing their positives and negatives as well.

Amy Tang:
Look we would have done at least I believe over fifteen. I have it I haven’t counted exactly but we’ve done subdivisions, renovation, new builds as well. But they were very hands on I mentioned we were on site 12 hour days seven days a week sometimes managing the trades, going out buying materials, getting quotes for different things. So when we were doing those strategies we couldn’t really focus our time on finding deals and working on other deals at the same time. It was one deal at a time.

Tyrone Shum:
So what I’m just curious is you had quite a lot experience and for all those stages and understood which one was probably the most effective and obviously getting to development and finding that the end goal was not the end of it. The end result was much much greater than to put your time and effort. So that’s probably here. Yeah you can see that that was a big change in how you were able to look at it from a different mindset point of view. How did you find time to do that many projects.

Amy Tang:
Well we, in the first five years of our property career – it’s been nearly 10 years now, we were still working in our jobs so that we could have serviceability and money coming in for day to day cash flow. Cause some of these deals, you’ve got to finish up before you make some profit right. But it is about you know putting in the time and effort to find the deals, do the deals and it was mainly weekend after work and before work and managing people well while work full time job to be able to do that. We weren’t doing as many deals but as soon as I left work I was able to then get in to doing multiple deals at the one time.

Tyrone Shum:
Despite the initial struggles of property investment and falling victim to water problems and difficult negotiations, Tang has found fulfilment in developing her investment properties.

Amy Tang:
And like I loved working with the trades when we’re doing renovating really. And there was something nice seeing things develop so quickly you know, painters finish the whole house, the builders finishing putting up new walls and new fences. It was something really satisfying about seeing that creation. Day by day and training great people to work with. I felt as a woman, I was able to really juggle and do multiple things at the one time very efficiently and I always bought coffees for my trainees and paid them on time and they would always go the extra mile for me so that’s something I do miss not being on site day to day. But now I get to put my time into building relationships with builders where they’re managing their trades on time on budget for all the projects. But I’m able to work with a bigger team and actually get my teeth into helping with the architectural design, interior design and really which is a big passion of mine, design, and get involved with the creative side of it, of property.

Tyrone Shum:
While managing many property investments and development projects at once, Tang has learnt to pace herself while continuing on her property investment journey.

Amy Tang:
Like you said there’s mortal facets, you’ve got to be managing the system the budgets the timeline, the people involved and once you have that system going and knowing when the steps come in, you have really busy periods and then you have quite a period and they’re busy periods again. That property development cycle fluctuates and then we can start bringing new projects when it’s a little bit quieter. Or you know not take on too much when it’s busy.

Amy Tang:
So just start little, do it but do it well and do it right by people. For us it’s very important for us to be honest and ethical in everything we do because we feel in business and property development, the best version ourselves is to create a win win for everybody in this situation you create.

Tyrone Shum:
This is Property Investory where we talk to successful property investors, find out more about their stories, mindset and strategy.

I’m Tyrone Shum and in this episode we talk with Amy Tang, a mother balancing her family duties and her work as a successful property developer. Tang shares with us her stage-by-stage investment strategy, how she has cultivated large profits from development projects, and the mentors who motivated her to pursue property development.

As with most investors, Tang’s journey in property investment did not begin smoothly, as she had no prior knowledge for property development and so, could only take little steps at a time.

Amy Tang:
I would say we did have some people who were a little bit fearful of us putting in so much money into property at the beginning and I guess that’s from you know people around us who care about us too. So that was one thing which did put some doubts in our minds but the fact that we went out and sought of got educated with other successful property investors gave us a little bit more comfort that we just didn’t dive straight into buying properties and doing something we didn’t know about. So we took little steps.

Tyrone Shum:
To speed up the process, Tang surrounded herself with like-minded people in the field.

Amy Tang:
You need to be around like-minded people who are doing the same thing, the same strategy, going through the same issues. Celebrating any wins and success you have because they’re the ones day in day out know what it’s about and you know when we had that support group around us. When things happens and we want to share with them we felt supported and we could keep on going.

Tyrone Shum:
With her eager-to-learn mindset, Tang had many mentors who helped her get started on property development. She adopted their strategies in order to replicate their success.

Amy Tang:
We researched quite a few different mentors out there in property and decided to learn from one or two of them and really got into doing everything they said. You know how to set up certain property structures, how to learn about asset protection how to do certain strategies get the right team on board but we wouldn’t be where we are without those mentors.

And you know we still get mentors today from other areas that we want to learn more about because we can never stop learning in our life. I feel I’m always a student even though we help and mentor other students these days but we can always improve, we can always get better.

Tyrone Shum:
What kind of mentors are you seeking out now to help with aspects of your life?

Amy Tang:
We actually have business mentors now because we’re building up our business in property development we’re building up our business, in education as well and it’s about creating systems within the business. So we can know function and be at our best so that we can give more of ourselves to our clients and to our students and you know it’s exciting to learn that once we set something up and we have a process for it allows us to create space for new things come into our life too so I’m not always chasing the tail.

Tyrone Shum:
When it comes to giving others the best advice, Tang always recommends people to take action and to try their best in doing it well and doing it right.

Amy Tang:
I’ve had really good advice over the years. One of the ones I can clearly remember and I live day to day is to just take action and do it well and do it right. So what does that mean? It’s a little bit like the five seconds rule, you can wait and wait to create that perfection but life is about experiencing things and doing it right? So just start little, do it but do it well and do it right by people. For us it’s very important for us to be honest and ethical in everything we do because we feel in business and property development, the best version ourselves is to create a win win for everybody in this situation you create. And by having that value in our lives we’re able to achieve great things and create great relationships with people and it’s more clearly evident in the last 10 years of our success.

Tyrone Shum:
She also encourages investors to research and replicate other successful investors as best as they can to ensure profitable results.

Amy Tang:
I would just say whatever you choose to do, learn from the people who are doing it well and make sure you do all your research and due diligence, align with the right people because if we can do it anybody can do it right. We wouldn’t have believed that we’d be in that position today where we’ve done multiple developments and other strategies and able to create that freedom in our life.

Tyrone Shum:
When it comes to her investment strategy, Tang takes on her development projects in 12 stages and commits to progressing through all her steps on each investment project.

Amy Tang:
We have a small property development course that we’ve actually wrote for students that study last year and that’s developed from our deals and everything we’ve done over the last 10 years. And we stick with those 12 steps that we do every day and every deal that we do go from stage one to Stage 12. So we’re constantly referring back to “okay now we’re at no stage 2. We’ve got to research the area, the target area why we want to buy a site here, why do we want to develop here”. And we finish all the due diligence we need to do that before we move on to the next stage where we look at the site due diligence further with the A team. So I guess for us it’s about having those 12 stages and all the steps that’s involved with that. And it’s something that my partner Jason and I and our team follows in order to get the project successfully completed from start to finish.

Tyrone Shum:
She accredits much of her success with the 12-staged strategy to having a good team of experts in the field to back her up with her decisions and actions.

Amy Tang:
Some projects would divert off a little bit but mostly a lot of that is actually working with your team of professionals because you know I’m not a structural engineer, I’m not a builder. But if I have the best team of builders and structural engineers on my team then I can actually get the best advice and the best solution tailored to my project. So a lot of that is really managing my team well, keeping contact with them, knowing who to go to when something comes up so that I get great results quickly as I move along throughout the process.

Tyrone Shum:
For Tang, her property development team is split into a primary and secondary team, both of which are incredibly important to all stages of her investment strategy.

Amy Tang:
In property development you have your primary team and then your secondary team.

So my primary team would consist of people that’s actually within my property development team. I would have my accountant, my solicitor, my finance brokers whether it’s residential or commercial, I’d have my architect, my builder and town planner so they would be my primary team those people I talk to day in day out more often when I’m actually doing the deal or when I’m actually looking for deals. Because they’re structuring my business, they’re looking at contracts, they’re looking at initial concept designs and other things as well right.

And then my secondary team within property development would be all the other consultants that I use. You’ve got all your engineers and many engineers and consultants out there but no typical ones are you’ve got your hydraulics, your structurals, your civil engineers mechanical occlusive traffic and the list goes on. But then you have you know your sales and marketing people which are your real estate agents, your marketers, your graphic designers your 3D renderers. And then you’ve got the surveyors, quantity surveyors, your valuers. So there’s quite a lot of people within that team right. You don’t need to know every single member within your secondary team because a lot of it gets referred to by your architect, your town planners, builders as well.

Tyrone Shum:
Both teams have heavily contributed to Tang’s success in property investment and have provided her with knowledge and experience while under her leadership.

Amy Tang:
I have a lot of fun dealing with you know everyone in our team because I’m constantly learning from them. How does this work. How does that work. How do you get the best solution. So my job is about project management and the development consultant of these people. Something comes up. Okay let’s get the team together we’re going to do conference calls and meet together in a room we’re going to workshop what’s come up. How do we get the best three solutions cost effective and then move on. While for me it’s about how to lead, you know in a property development project it’s up to me to bring them together.

Right because the architects knock and at least you know I’m the one with financial interest in the deal. How do I bring this together with something needs to be done quickly. So there’s a timeline involved there’s a budget involved and knowing the 12 stages of that property development allows me to work and know what that timeframe is for each step.

Tyrone Shum:
She has gathered such large teams purely from word-of-mouth and staff recommendations.

Amy Tang:
It’s easier than it sounds because you know one team member will recommend someone and it’s all about word of mouth and referrals. And finding people who have a proven track record in the area that you’re developing in because you’re not starting from scratch. There’s always ways to get information to find the best team as well, somebody else would have done it.

Tyrone Shum:
Tang aims to teach her 12 stage development strategy with her partner to young and aspiring property investors in Australia.

Amy Tang:
The 12 stages are property development. My partner Jason Byron and I we have a program called property developer success and we teach students all around Australia how to do profitable small developments and we’ve got a lot of students already since last year who we’re helping with understanding what the 12 stages are and how to do it well because property development can be very profitable even from a small subdivision duplex deal to multiple townhouses or units. And we’ve really stayed with us small developments because it’s allowed us to do deals in a efficient time frame as well and a lot of those we’ve also done joint ventures over the years. So we enjoy doing joint ventures, working with other clients teaching them along the way as well and creating profits for everybody.

So that’s what it’s about. So we definitely enjoy it. One of our passions and part of our purpose is really to inspire and to empower people to use property development as a tool to create more wealth, to create more balance, to create more time and choice in their life and you can do that with property development and you start small. You don’t need to jump big. That’s why that’s where we started. But once you got that system up and going you’re able to choose whether you want to do one or two or three deals a year. So yeah it’s very exciting. We love doing what we do.

Tyrone Shum:
She encourages more investors to start with small development projects as they can apply the experience to larger and more profitable projects in the future.

Amy Tang:
So small developments, it can be a new build, new house build that for development and then maybe a duplex a subdivision to new build for anything that you’re building new right. But typically a small development can be anywhere from eight to 10 units and you know we have a lot of students doing that and they’re making good profits on it too.

So you know whatever it is if you haven’t done any property development start small and learn the system, learn to master that process and do it well and then you can repeat it as you get bigger in the deal.

Tyrone Shum:
Coming up after the break we will delve further into Tang’s property investment strategy, where we touch on her future plans…

Amy Tang:
We definitely would like to look at being closer to metropolitan areas rather than completely regional but that’s a personal preference for us.

Tyrone Shum:
Her advice to young investors…

Amy Tang:
Surround yourself with successful people in the industry that you want to be developing, getting good at.

Tyrone Shum:
The personal habit that has contributed to her success in the industry.

Amy Tang:
I love my little book of daily to do lists. Because you know we all have so much thoughts in our head, I’ve got to do this I’m got to do that and you know just to get it down my head.

Tyrone Shum:
And that’s next. I’m Tyrone Shum and you’re listening to Property Investory.

Currently, Tang is working on improving her property development process and ensuring her properties are desirable for potential buyers in both affordability and practicality.

Amy Tang:
We love building beautiful products, that’s part of our motto as well. We want to create products that are multi functional and have longevity so that the buyer the investor, the tenant person living and it can maximize the use of the space as it evolves because a lot of people now working from home as well as small businesses grow. So we’re always and a little bit extra to the design and lay out of our products. We do really nice finishes as well so stands out above the rest from other comparing pro products and pricing them well so that it is affordable as well for the people.

So it is balancing all those depending on which area we’re in. But we definitely, we also like doing luxury houses but I guess that’s something that allows me to put my design creativity into it. So we still do a lot of luxury homes as well as multiple townhouses make it

Tyrone Shum:
For all the young aspiring listeners, Tang believes that it is important to believe in oneself and to not underestimate one’s capabilities.

Amy Tang:
I would say believe believing yourself. Surround yourself with successful people in the industry that you want to be developing, getting good at. You should just take the jump just do it.

Tyrone Shum:
In regards to future investment properties, Tang plans on straying away from old properties and opts to work with newer and low-maintenance properties instead.

Amy Tang:
I definitely see a lot of potential. It’s great when you have a choice of what you can do which is what we’ve created for ourselves now. For us it’s about how to recreate properties that we could have in our portfolio that will give us great income as we age and get older. So properties that are lower maintenance, higher growth areas and areas that will always have that demand as well.

We definitely would like to look at being closer to metropolitan areas rather than completely regional but that’s a personal preference for us.

Tyrone Shum:
She is also eager to do deals interstate, keeping in mind not to grow too attached to her development projects.

Amy Tang:
We actually don’t keep ourselves here forever. We like to have that flexibility to live wherever we want to live. Know we’re able to do that with our property development business because we can easily develop in space which we already do.

But you never know you know we have homes down there too. So we are always looking at opportunities. We don’t get too emotionally attached to our properties as well. So we always design and build for something that’s good for us but something we can easily rent out as well.

Tyrone Shum:
To ensure working between states produces successful deals, Tang knows to thoroughly manage her team of workers so that they do their respective jobs correctly.

Amy Tang:
Our very first deal was out in the country and you know we did actually physically drive there. So that was something real lesson and learning there. But our first joint venture we did was interstate as well and we found the deal by doing all the research online and did go up to see it but we were able to manage that deal over a year via phone, Internet, e-mail and we only went up there two or three times over that period and it was a successful deal. So it’s about managing that team. You know for example I would not pay the builder unless he takes all the photos and a video for me to show that the work’s been completed.

So really building that trust and accountability for the people you’re working with and being professional in the way you talk and act with them too. So you’re not just you know, someone doing this as a hobby is serious about it. You’ve got a timeframe you’ve got a budget. You need to get things done.

Tyrone Shum:
Tang is a huge fan of self development books and even encourages her students to read them as she believes that some promote the right mindsets for investors to become successful.

Amy Tang:
I am a big reader of self development books and spiritual mind set books and mentors out there so I have plenty of them. One of the ones I recommend to all of my students for the mindset is the “Five Second Rule” by Mel Robbins. She is a great speaker in the US but she talks about how we all sometimes let the fear sink into us before we do anything and it stops us from creating the life we want. Making that stop us do something we don’t want to do and I recommend people to read it because if you take action within the five seconds before that fear sets in, you just do it.

And other books I can recommend, I’ve read a lot of the power of now, the book of joy by Dalai Lama. So yeah look I definitely recommend everybody to try to learn from other successful people no matter what industry they’re in because there’s always something that you can pick up to improve your life, your business, your relationships and your mindset as well as.

Tyrone Shum:
With personal habits, Tang recommends using daily to-do lists to organise one’s schedule.

Amy Tang:
I love my little book of daily to do lists. Because you know we all have so much thoughts in our head, I’ve got to do this I’m got to do that and you know just to get it down my head. Oh we have it on my iPhone list or my notepads and you know if something comes to me out of the night that I’ve got to do this I just write down straight away so then it doesn’t have to continue to flow in my head.

And day to day I’ll have lots of lists of things to do but I would circle say three to five top priority things that need to be achieved that day that are also the hardest thing and get those things done first. And if I can get those three to five things done that day I’ll be happy. There’s all these other little things that need to be done but they weren’t priority for they could roll on the next day.

Tyrone Shum:
For Tang, her three top priority things to do are decided by how essential they are to fulfilling her end goal of the week.

Amy Tang:
There are probably three top priorities that would advance me closer to my goals that I’ve set for that particular week. I always refer those three to five things to, “okay, what are the main goals that need to be done that week and what are the type that needs to be done that day to get closer to those goals”.

Tyrone Shum:
If you want to reach out to Tang, you can contact her via her website.

Amy Tang:
It’s been great to share my journey and hopefully inspire some people out there to get educated to learn more about property developing because it’s really given us choice in life to have you know balance in our lives you know and to be able to build our wealth too. Look we can go on our Website propertydevelopersuccess.com.au or you can also find and follow us on Facebook under Amy Tang or Instagram as well. And there’s a lot of information and a lot of stories about our day to day there. So yes.

Tyrone Shum:
Thank you to Amy Tang, our guest on this episode of Property Investory.

If you want to hear more about her journey, visit our website at www.propertyinvestory.com. Simply type in the search bar Amy Tang and select that episode to learn more about her story.

Also, if you haven’t subscribed to receive your free property case studies that I only send out exclusively via email. You can text me your email address to 0499 88 10 40 to subscribe. These real case studies are from experienced property investors where they share specific numbers of their portfolio, the strategies and much more. Simply text me your email address to 0499 88 10 40 to get your free case studies. Thanks for listening!

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