Building A Dream Portfolio Worth $3 Million With Zaki Ameer

Zaki Ameer – founder of wealth creation mentoring program, Dream Design Property – is a self-made millionaire with over 15 properties in his portfolio. We’ll follow his inspiring journey as he goes from homeless, to working $16 an hour, to creating a prosperous life for himself!

Discover how leveraging can aid you in property investing and business, the initial ‘why’ behind Ameer’s portfolio, how getting pushed into a corner can motivate you to act and do something to remedy it and Ameer’s ultimate inspiration for beginning to invest.

I would just ask people for the answers. Which seems like the wrong thing to do but when I look into investing or business, it’s called ‘leverage’. - Zaki Ameer

Ameer grew up in Sri Lanka from a privileged middle eastern background with a very interesting childhood.

My background is from the Arab world, I’ve got a Middle Eastern heritage in me. My parents were born in Sri Lanka which is in South Asia. I have an elder brother and a younger sister. Fortunately my parents and grandparents worked very hard in business. They actually ran a successful shoe business. I was fortunate to be in in a private school in a somewhat I guess developing country.

I had a very fortunate upbringing and had drivers and maids to look after me for the first 17 years of my life. It was very easy to be a spoilt person. I didn’t have to do much but just ran around chasing girls, which was my hobby. I really didn’t like school. My dad paid a lot of money to put us into a private school. So all my neighbours were either the president’s kids, politicians kids or kids of a successful businessman. Majority of stories go from being broke to rich. I guess my story is a bit different because I was born into a somewhat wealthy family then I moved to Australia when I was around 17 years old to do my studies. That’s what most kids did after their private schooling, majority would go to London or the US.

Instead, choosing to move to Australia, he made western Sydney his home somewhat blindly.

I picked Australia because I knew nothing about the world. I was spoilt. When you are spoilt you have a very narrow minded view of the world. I was actually going to go to TAFE in Mount Druitt. Don’t forget, I was living in the top one percent. I guess one of the countries or the islands and Mount Druitt sounded like a mountain. Back then in 1998 you didn’t have Google Maps and it sounded like it was in the Blue Mountains.

We didn’t really have the Internet in 1998 I think it was just starting especially in Sri Lanka. From the map they posted to me, Mount Druitt appeared to be near the Blue Mountains. I recalled the Blue Mountains being pretty. I thought Mount Druitt will be as pretty – but I didn’t end up going to Mount Druitt Tafe.

Accepted into several universities in Australia despite failing school in his home country, Ameer doesn’t believe he deserved the accolade.

I didn’t like school or the ‘traditional form’ of schooling. I spent most of my time chasing girls and then I would just ask people for the answers. Which seems like the wrong thing to do but when I look into investing or business, it’s called ‘leverage’. We always say ‘take advice’ or ‘be mentored’ by people that are ahead of you. So what I did in school, was to look to the nerd, to the people that passed. I actually asked them ‘What are the answers to this?’ One day before the exam.

For the people in university who are listening to this. It’s a tough choice. If you’re at university or if you’re doing your masters now and you’re thinking: ‘What do I need to do?’ and ‘What should I do?’ . We get moulded into all this. I actually spent a lot of time thinking I was a failure, the funny thing is my dad would say to me: ‘What’s wrong with you? I’m spending all this money’. However, he was a was a businessman and never went to school. He failed school like me. I guess because society tells you you need to be this way.

For him, studying abroad at Sydney University was short-lived. His father informed him that the family business was struggling and as a result he had to abruptly withdraw from his studies.

I think it did play a part in my personal life from coming from a wealthy background. When I moved to Australia I was this ‘international student ‘ especially back in the night late 90s where international students were only starting. A lot has changed in Australia over the last 20 years, international students are more accepted. Back then, I came on my own, my father put me in uni lodge which is university accommodation at Sydney University. I remember in 1998 he was paying for a small studio very tiny studio. We were paying $400 per week back then, which is probably about $800 now, which is a lot for a very very tiny, I think it was probably 20-30 sqm studio.

What happened was six months into studying, things went wrong. My dad rings me up and said ‘something has happened in the business we’ve borrowed money and I can’t pay it back and you need to come back home.’ [00:07:56] I don’t know what happened to this day. I was really angry. My older brother was studying overseas and was paying international fees. He got to remain and then I was like ‘Why am I the one that has to go?’. Usually middle kids get picked on the most. My sister and my brother were looked after. I always ended up being the one that was ‘wrong’. He said ‘come back’. Again I refused.

Then he’d make these phone calls saying ‘You need to come back, I can’t pay.’ I remember one day tried to open the door in the unilodge and the door was locked. It was like electronic locking, like one of those hotel rooms. That’s when my life changed from being this rich university student to homeless, because I didn’t know anyone in Australia. I had no family over here. I learned the hard way. I been spoiled completely for 17 years and then I was faced with, ‘What do I do now?’

Finding himself with no one to turn to and nowhere to live, Ameer had to make some quick survival choices. He transferred to Western Sydney University and sought out employment opportunities to support himself.

That’s the success mentality or which is ‘you’ve got to find a way’. When you’re pushed into a corner, sometimes people make big mistakes. They find a way but it may not be the ‘right way’. They may do something illegal or unethical.

Fortunately I didn’t make those bad decisions. I moved from Broadway, Sydney University to Macarthur, Campbelltown. I was brought up in the equivalent of Vaucluse in the Eastern Suburbs. Then I moved to Campbelltown. It was hard. I couldn’t afford Sydney University any more. The reason I moved to Macarthur, Campbelltown was to transfer to what is now called Western Sydney University. They offered night classes. I had to find a way to work despite never having worked in my life. My dad was in a business but my job was really just having fun. It’s interesting when you go into business you want to build a property portfolio because you want to create financial freedom, to have a secondary income. I built the property portfolio because I needed a job.

Adversity made him appreciate living in such a fortunate country as Australia, where support and employment are abundant.

Many people say ‘I want to get out of my job.’ ‘I’m sick of my job’. ‘I want to build a property portfolio to never to go back to a job.’ Sometimes you just gotta be grateful that you even have a job. We live in a very fortunate country and sometimes we take that for granted because we have a government support system. We have our family support system for the basic necessities. I needed a job so I started looking for jobs. I remember recording this in my book that that I was living in a granny flat not knowing I would be building property. I never even understood what a granny flat was.

The lady who lived in the house, said to me ‘why don’t you work in a fruit shop?’. I think this is where my upbringing helped because I never knew what it was to work in a fruit shop. I never looked at people that worked at a fruit shop. It was an insult to me. It was also a lesson to ‘self worth’. I’m not worth ‘working in a fruit shop’. If I’m going to work, I’m going into a into a office or something ‘respectable’.

My first job was at AMP. I was a data entry operator earning $16 an hour. I had one shirt and one tie that I bought from Sri Lanka. I worked full time for three years in that job. I did university part time. I failed university because I never had the time to study. I was never an academic. Even today if I have to get real estate licences, I’m like ‘oh my god do I need to go do a course?. Can you do that? Get the licence and I’ll pay you for it.’

I’m loving this.

It still comes to leverage. I guess sticking to what you love because people just get forced into doing what society is telling them to do. I’m a rebel in that sense. If you own 4-5 properties you’re in the minority. If you’re in the minority you’re going to have to rebel a lot because there are a lot of circumstances and things that are going to happen to you. So you’re going to have to rebel and fight against them.

After failing university three years in a row, Ameer was told that if he didn’t pass the next semester that his visa would be cancelled. He found himself once again pushed into a corner and had his ‘sink or swim’ moment.

I eventually graduated from school. I did graduate because that’s how I got accepted to university. In the end, immigration was saying ‘you’re failing university, if you fail the next semester your visa is getting cancelled and your going back to Sri Lanka.’ I had given up hope because I was so angry about what happened. I was like left stranded and homeless. I adapted to a new country and I made myself a refugee. Once again when you’re pushed into the corner, which was Immigration saying ‘you’re going to leave Australia’.

I found a way to pass university. Sometimes we need to be pushed into a corner where we go ‘OK, this is your maximum pressure point, you’ve got to get off your bum and do something.’ Everyone has these different pressure points. I could handle a lot because it took someone saying ‘I’m kicking you out of the country’ to do something. Many others would say ‘oh my parents said I need to pass my university exam, so I locked myself in the room and passed my uni exam.’ I did pass because it was the only way I was going to stay in Australia. I got my permanent residency.

Three years later, he received his citizenship.

I worked in the banking sector between AMP, Macquarie Bank, St George and Westpac for about 15 years. I didn’t like it. It was hard. Going in at 9am and remember I’m an entrepreneur. I hated Uni. I hate sitting in one place. I did 15 years of that. That taught me discipline. Many people try short cuts. Even my clients or myself sometimes you buy a property and you think ‘what that didn’t work’. Sometimes you’re judging results too quickly. I’m still learning and I had 15 years of a full time job just to even buy my first property. That’s how long it took me because I was on my own.

Even though I worked in a bank, I never had one person ever come to me ever to explain how property worked. I say this to my staff sometimes who have portfolios. I say’ ‘don’t ever think that the person you’re talking to knows everything about real estate because I never did. I worked in a bank.’ I got into real estate is because I was always looking to do something, to get ahead or do something different. I used to sell my dad’s shoes. I remember when ebay was around. I used to sell my dad’s shoes from Sri Lanka using ebay. I’d advertise them online for $100 or something and then when the order came through. I’d tell my sister to post, FedEx or DHL it from Sri Lanka directly to the customer. I was doing this just to just to do something just to get ahead. I mean just to do something different. There’s always choices.

It took Ameer 7 to 8 years to rekindle the relationship between him and his parents in Sri Lanka.

Don’t forget, my family financial support stopped when I was 18. I’ve never taken a dollar from anybody. What I’ve created, I’ve created myself.

Phenomenal. That is phenomenal.

They say negative motivation can be more powerful than positive motivation. The anger in me forced me to do things that created success for myself and probably for my staff. When I go back to Sri Lanka I don’t even connect with anybody. I’m not saying I’m better than them. I’m just saying due to my experiences I’ve become different. I can’t relate to anyone that I went to school with.

Despite having been surrounded by property in his early years, no one had taught Ameer that real estate could make money, until one day he visited an investment group.

It happened in around 2007. I was doing network marketing. I was selling Amway espring water purification filters. One of my clients, who bought it said that she had gone to an investing group, that I should come check it out. she worked and the back and she knew I was always looking for do something. I went to this group, there was about 10 people.

One of the guys there was an international student from Bangladesh. He owned 25 properties. I didn’t even know what property did. I knew my parents had property but I didn’t know that real estate could make money. Even though you can be surrounded by it, it’s not until someone takes the time to explain it to you, that you ‘get it’.

That’s fair enough. It’s what you don’t know is what you don’t know.

After this international student stood up and said he owns 25 properties. I thought ‘if he can do it maybe I can do it’. That was just the attitude. I looked into it, spoke to the guy and I asked ‘What do I need to do?’ Don’t forget, I’m broke. I’m working in a job. I also borrowed money for my university. I never really had any savings. At the time you needed about $25k-30k to buy your first property.

I went to the bank as I worked in one. I said ‘I need to get a loan’ some people fear having debts. I didn’t have a problem with it as I had been broke before. It never feared me. So when he said that I needed $25k- $30k I went to the bank. Back then, fortunately there were close to 100 percent lends with the banks. I was also a staff member so I got good rates. My credit file was always clean and it’s so important to have that because a credit file is a record of what you do with other people’s money. It’s not what you do with your money but it’s what you do with other people’s money.

Many people have defaults because they never paid their phone bills on time. When you look at it from a personal perspective, Why would I lend you money? if you can’t even pay your $100 phone bill on time. The reason the banks were always fine to give me money is because I had borrowed previously with credit cards or personal loans but I always paid it on time. A bank will look at your ability to pay and your respect towards paying on time. They’re thinking that if you’re going to do the right thing, they can lend you more money.

It’s your risk profile. That’s how I started, I took a loan. I bought my first unit. I was open to learning. I saw an opportunity like that guy at the investment group I said to myself ‘well this guy has 25 properties or whatever. Let me learn from him.’

By asking relevant questions and learning from a successful property investor, he eventually purchased his first unit.

It’s important to be open and learn from other people, so I asked him simple questions, like ‘Where did you buy it?’ and ‘How much did you pay?’ and ‘Who should I talk to?’ I did exactly the same thing. My first apartment back then 10 years ago was $145k. It was a two bedroom apartment in Fairfield, Sydney. In the western suburbs. Did I know about valuations? or whether it was worth it? No, I simply took the advice of somebody else because he was successful. He wasn’t faking it. I trusted his advice, I did it and I bought my first unit and that’s where I started.

Ameer’s worst investment moment was when he made the decision to buy some regional properties.

My last two properties of the original ten were my worst. I now never buy a regional property for my clients. The two properties were near Wagga Wagga. I bought two houses that had three bedrooms for $100k. I made a mistake. Sometimes I was too risky because I trusted the people that I was taking the advice from. It was $100k for a three bedroom house block of land, which was equivalent to the western suburbs of Sydney. I bought it for $100k, 7 or 8 years ago. Those two properties have been vacant for two years now and I can’t find a tenant, I cannot also even sell the property except if I sell it for below what I purchased 8 years ago.

The property is still costing me today. Should I cut my losses and sell it for below $100k? I guess. Maybe it’s my way of not accepting my mistake. Or maybe I’m just stubborn. It probably won’t go up in price, but no one can predict. It’s looking to be a loss. The biggest risk is not taking a risk. Should I have asked more questions? At that time the market was doing well in that area. I did do my data research and comparable sales. Why didn’t it work? Sometimes things don’t work in life and you just have to accept it and move on.

His a-ha moment came when he found out the importance of maintaining your risk profile with a variety of banks and the importance of not over leveraging yourself.

I bought an apartment in the Entrance, which is not regional but definitely non-metropolitan. It’s in a growing area of the Central Coast in New South Wales in Sydney. I bought it for around $200k. It was a two bedroom, brand new apartment. After the GFC the bank started coming down on high risk investors or developers. I do believe it was one of the major banks that had gone to the developer who owned a lot of stock and said ‘you need to reduce your LVR’. I bought that for $200k and within six months it was worth $240k.

I didn’t do anything to it because it was already a brand new apartment. Why was that good? I didn’t do anything. How did I get in it? a group of 20 investors went in and bought individually. We got a great deal from the from the developers. For the Sydney, Melbourne market since we’ve had a great run over the last say 4 years and the market starting to adjust is going to decline? Possibly. Will there be distressed deals coming out? I do believe so.

This is the time to look out, those who are going to get caught out are the ones who haven’t looked after themselves or planned. They need to make sure they don’t over leverage or over commit to all the banks. Some people like one bank , so they put all their investments into that bank rather than spreading their risk profile with many lenders and reducing the risk profile. The risk is that the banks may look at your portfolio and say ‘hey you’re holding too much debt with us’.

Being nice helps. That’s another thing people forget to do. Being nice in real estate. People, relationships are everything even getting a loan, relationships can be everything.

Zaki Ameer on the Strategies that got him from being “literally broke” to owning a $3 Million Portfolio

In an unfortunate situation with his family back in Sri Lanka, Ameer was left stranded as an international student in Australia, with no financial aid and no money to back his living expenses nor education. In his struggle to make money, Ameer looked to investment.

Well for me personally you know my reason is I didn’t know the knowhow or how to do it which is very unfortunate because we made a lot of clients or customers who don’t do it or don’t buy and still haven’t bought. And I guess I’m doing my job which is if someone taught me a while ago I probably would have started earlier. And so I’m kind of giving back what didn’t work for me, which was to help other people you know help themselves sort of thing. But unfortunately even if a majority even if I do teach them and show them everything I can show they still won’t do it. And and that just comes back to fears you know and your surrounding situation. But it’s still not an excuse because I could have used whatever excuse I wanted to stay where I was.

In mentoring clients, Ameer has realised that there are three particular groups of investors, one of which he hopes will take on his advice more seriously.

Well I think I put them in different way different baskets of customers or clients. There’s one basket which is very minority which is I’d say the one percent which is like me who’s looking and says “Yep let’s do it”.

The second basket I would say is someone who’s bought a property themselves usually especially in Australia as a principal place of residence and because they bought that house themselves when they meet us and we explain the strategy of equity and all of that I mean the average equity in a Sydney property is approximately six hundred thousand dollars. And I started with thirty thousand dollars. Let’s think about that. If the average person owning a house is sitting on six thousand dollars worth the equity that’s already a lot of properties. It means many people can use their equity and become easy financially but they’re not doing it so. So that’s that basket which is they have equity and they meet us and we share them the strategy and then they do something about it.

The third basket which is the basket of “no matter what you tell me what you show me and what you prove to me I’m still doing nothing about it”. And we just can’t have them yeah. And I’m hoping that people will listen even if you on the third basket that “I’m not going to do anything about it” would probably go into the second basket and say hey maybe I can do something.

However, Ameer’s insider knowledge of the industry did not come naturally. Ameer himself admits that there were many mentors who helped him reach the level of success he has.

I think the concept of learning from others started probably around 21 when I was on my own and literally broke meaning just just eating and going day by day which could be most people but for me it was bad. But yeah I was looking at the Internet was just starting, YouTube didn’t really exist. So I wanted to do one of these groups that were getting together and they would always give me these cds and these cds were from, if you look back Napoleon Hill and Jim Rohn and I think it was Andrew Robbins. So all of these mentors have helped me. I mean I still get mentored, I mean I still watch videos on YouTube except they’re much more accessible. And but but here’s the problem and I want to give a little bit of warning on this.

A lot has changed in the 20 years because the Internet has made everything so fast that impatience has increased so much. It’s ridiculous and because we are bombarded with all these sort of stuff and motivation and advice you know of whatever it seems like the formula to getting rich is now so quicker. But that is still not true because humans have never changed and never will change. All that is changed is the speed of information that’s coming to you that you think that now if you want to get rich through property or building a property portfolio it needs to happen so much quicker. So you’ve just got to be forewarned that it will still in my opinion take 10 years to see your property do well.

And that will in my view never change. You’ll have your ups and downs you’re still going to have to give it 10 years. The mentoring has been out to be open but just a warning that is still not going to happen overnight, just because you’re bombarded by mentors these days.

Besides the common equity strategy, something as simple as adopting a polite attitude helps develop winning relationships between investors and lenders, consequently fast tracking an investor’s road to profits.

Well I mean back then the original I’m referring to the original 10 is that it was using the equity strategy was one was buying on the market, buying distressed deals which can happen now, given the timing, especially say Sydney Melbourne that’s adjusting meaning building relationships with agents. Being nice helps. That’s another thing people forget to do. Being nice in real estate people, relationships are everything even getting even getting a loan, relationship can be everything. And one thing I guess what does it take to be successful in business I think is building relationships and building relationships in business and building relationships for a property portfolio meaning you want to buy more than four, are completely the same. Meaning you want to have a good relationship with an agent with your banks, with your value as we call builders everybody so they don’t screw you over and they give you the best deal. So buying on the market properties was one way of doing it by negotiating hard and just because people like you sometimes it just give you a good deal.

Ameer also recommends the waiting game, encouraging investors to buy properties in developing areas to sell in the future.

And the other way was obviously buying properties that are not in the best conditions especially in a Sydney suburbs. I saved 10, 11, 12 years ago. The areas around Penrith I mean there with those properties were like two hundred thousand dollars and now they average like 550.

And we’d buy them because they were housing commission properties our housing commission properties and we’d renovate it and and once again why would you create equity because you’d find a good builder, how to find a good builder because you’ve built a relationship. You know to come back to that simple principle and you get better deals in renovating. So a renovation that someone would normally get for 55 grand would cost me 25. Because of skills of negotiating with the builders and so so when I revalue those properties when I spend 25000 and the rent of the bank may possibly be revalued for 50000 dollars more and that slight equity as though it’s not much was sufficient for me to pull out and use as a deposit for your next property.

He warns against cross-collateralizing.

Importantly I never crossed collateralize. That’s a mistake people make is that they use one property security as the other specially their principal place of residence. Every property I bought has always been a separate loan separate account number. My personal view is I don’t normally leverage or I don’t borrow more than a million dollars with one bank. So we’ve got plenty of banks now and then there’s an second tier lenders and third tier smaller lenders. And I would always spread my portfolio within all the banks. It is a headache because you’ve got a bank statement from every bank and all of that but it’s better than having it all been taken away for some reason.

When planning for future property investments, Ameer recommends what he calls a backwards strategy, where he considers his profits before even looking up the prices of potential future properties.

Well it all comes back to business accounting skills which is like income and expenses, assets, liabilities. You’ve got to look at property the same way of property holders. You’ve got the asset which is the value of the house or apartment you got a liability which is your account which is the mortgage, income is rent and expenses are mortgage repayments especially council rates and whatever.

So banks look at it the same way and it’s very important when you buy a property that it doesn’t stop you from getting into your next property. So I always go backward. I go if I need to get the next property what does this property have to look like not what is it. Unfortunately I’d say 99 percent make the mistake of what does the property really look like in terms of dissolving as opposed to what does it really look like in numbers which is way more important.

So that’s what I do I make sure that whatever property it buy needs to allow me to buy the next property and then I work backwards meaning if I go to a bank or my broker or whatever and if I say this property is half a million dollars and this is the rent then I’m going to ask the question can I buy another half a million dollar property with this rent. And if he or she says no, this is a question, very important question, to ask the majority of your brokers or lenders wouldn’t even do is what is the purchase price of the property that I need to buy. And the rent I need to get or the yield in order to buy my next property and that gives you a completely different answer as opposed to “no you can’t buy” or “no you cannot service for the next property” and then what you do is once you know that number is then you go look for that property in a good area to match that which is going to allow you to look for the next property.

For new property investors, Ameer recommends detailed research on property brokers to ensure their credibility.

If you’re starting new or if you’ve got a property is that look for the people who had the results and make sure they prove it, you know you read a lot of stories about 50 properties 200 properties make sure they can prove it. And honestly maybe even ask for the title document just so you know that the person you are taking advice from has done it. Especially in these days of technology, it’s why I’m saying it was different 10 years ago. Now everyone’s kind of like these days a you’re millionaire on some level. So make sure they’ve done it and make sure they can prove it. And if they can prove it then you take that advice and replicate their success.

Ameer also encourages investors to buy and push for more investments when opportunities arise, something that he as a property investor regrets not doing.

Myself ten years ago. Do more. I should have bought more. Unfortunately I used the word should which is not normally in my vocabulary. But yeah I should have bought more I should have pushed more.

Meaning meaning, look I don’t look to a lot of people. They might look at me as crazy saying “well I would never do that”. But to me I’m going What should I have done more as I should have bought more property. You know I should have put another one in. And you know I should have bought more often, let’s say if I was to look back 10 years ago.

Despite the clean cut strategies that Ameer has provided with listeners, he himself is starting to diverge away from investing purely in property, opting to take higher risks for larger rewards.

Well it’s a mix because I’m you know on the way out and I’m doing things now it’s mixed in all the states in Australia. It’s a mix between properties with the other partners in terms of joint ventures. I bought blocks of lanzhou in there were in syndicate’s I guess where you know you purchased a big block of land and then you you know you rezone it and prod it up and sell it. And then also buying carrion in UAE in Dubai. So it’s gone from the simple buy and hold equity strategy, which is still so key don’t forget – very important remember that, to diversifying in other things. Does that mean I’m taking more risk, yes hundred percent I’m taking more risk. Does the bread and butter buy and hold strategy work?. Hundred percent it works. Will it make you rich? Hundred percent it will make you rich. If you hold it for 10 years. It’s just because I guess I’ve always been like this. I get bored and okay let me do something else.

However, Ameer only encourages this when investors have worked with years of experience, like him, under their belt. For Ameer, investing is a step by step process where you must start from the bottom.

It all started from those basic ones and many I mean I mean many clients sometimes they don’t even have property and they go “Oh but I want to do one that has DA” and I want to do this and I’m like “listen, you don’t even have experience in that, you should just start here”. Once you risk it and take that experience and learn from it, then you start. In a way to school, but you got to start at the bottom and start there because usually the ones who go for the highways are the ones who buy off the plan which I consider high risk unless you bought existing, is they’re taking unnecessary risk. You know I’m going just go buy an existing house then buy your next one and then you know step into other things.

He defines risk as how accepting the risk-taker is of potentially losing all their money from a single investment.

In terms of financial risk is the risk of if I risk money into this and I lose all that money, I’m okay with it. That’s how I did it. And if you’re not okay with it then I go “OK, you have to reduce your risk”. So when I look at the plan and you’re buying off the plan – what it could be even in the CBD of Sydney or Melbourne or whatever and you’re guaranteed like “OK it will get rented” but I’m going “well, what’s the risk?” Is it going to be built in time? What’s the risk when it gets built in time? Is it going to go down in value like it might happen now this year in Sydney or next year? And if you can’t risk that, well then why are you doing it? Why don’t you just go buy an existing property because the banks are all about it and they’re going to tell you how much it’s worth because it’s today’s price. That’s how I look at it.

And the good thing about buying an existing property is that it is a proven track record which allows you to know exactly how much that market or that property is worth in this current market. And we know that you know obviously over time prices changed as well. So the other question I had for you is what are you most excited about in your property journey over the next say five years?

Look if anything I want to keep growing I mean ideally I guess my dream now would be will be to look in different countries and have built different buildings or projects or communities done by me or my company and seeing my I guess the company name you know in part of the development and that will make me proud but that’s what I look forward to.

He has five books he’d like to recommend despite an overloading distribution of information.

I’d say the books I’d recommend are the ones written like back in the days the 50s and the 60s the ones I’d recommend “The Magic of Thinking Big”, “Think and Grow Rich”, “The Richest Man in Babylon” and “The Alchemist”.

I reckon if you read those four books it’ll give you a good understanding of life and success and mentality. Of course you can read standard “Rich Dad Poor Dad” too which is a bit more modern but let’s just say those five if you go back and keep reading and keep reading it you’re just going to have to ask yourself am I doing it. And you still see that you can do more because I can still do more. But those are the five books I’d recommend that would explain life no matter what changes in technology.

A personal habit that has contributed to Ameer’s success is his financial discipline.

Discipline I think when it comes to finances. Being broke is also being disciplined. When you start making money then you have too much money and it’s interesting you know like you doesn’t stop and you’ve got to learn to manage your money well. Especially when you start making money and for everyone who’s building a property portfolio, after a few years you’re going to see you’ve got equity, you’ve got to have choices; you can pull some equity out, you may go on a holiday, you may sell a property. I mean I have a 23 year old staff member who because of the Sydney market doing well she just sold and cashed out on 250000 dollars. You’re 23 and you have two hundred fifteen thousand dollars.

So what do you do? Thankfully she takes my advice and I said you need to put it away quickly for six months. And she did. In a term deposit account and the reason I said that is because it takes it away from you because you’re not used to that money. Number two it gives you six months to really think about what to do with that money. And that’s my advice is about managing money. It’s very key.

With the development of his business underway, Ameer’s Dream Design Property is opening up for more clients. With a company goal of providing the best personalised strategies and advice to beginners in property investment.

So DDP or Dream Design Property. I created it simply because I built my portfolio and I thought “Hey there are people like me. Why don’t I give advice on how to build a property portfolio?” So it’s for anyone who wants to start a property portfolio or expand their property portfolio and fast track it. We do it in a turnkey sort of one stop shop which is from some property strategist who also have portfolios meaning you’re taking advice from people who got property. We have our own finance company. So who also own property so that you can get, I guess good advice in terms of what your financial situation are or how much you can borrow and what you need to buy to get to the next property. We have a team of buyers agents who look for the properties built relationships around the country and also the conveyancers and solicitors.

So it was in a way because I was working full time in a bank and didn’t really have time to do all of this so I thought well why not create something where client can come in because most people are busy anyway and they pay a fee.

We will end with Ameer letting listeners know how to contact him.

We do the whole thing for you and you make the decision or the client makes a decision in terms of contacting me or through our website.

It’s or and yeah you can get in touch with me or my team.

This episode was produced by Alex Cooper with narrations and interviews conducted by Tyrone Shum.

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