Hosted By Tyrone Shum

Using Data to Increase Property Profit with Tommy Segoro

Updated 19/08/2019

Tommy Segoro has used his background in I.T. as well as his developed passion for property, to become the proud owner of a growing portfolio and a buyer’s agency business in Perth, Western Australia! Not only buy and hold investing, but also renovating and making property profit through many different strategies and has even been able to help his clients achieve the same success when purchasing.

Join us in this episode of Property Investory as we learn about the big move Segoro made on his own as a young boy from Indonesia to Australia, how he found himself in I.T. and how he made his way into property. We’ll also be delving into the way Segoro utilises his skillset in I.T. to filter and search through data regarding the property, how his ego clouded his investing judgment, why a six-year hiatus from investing couldn’t stop Segoro from investing later and much much more!

"Get yourself educated. Cash flow is still king. Nobody can see nobody has a crystal ball to be able to predict capital growth. You know it's coming but until then you just have to make sure you can afford the property."
-Tommy Segoro

Working as a buyer’s agent in Perth, Segoro is quite experienced in the field of property purchasing and investing..

I've been investing, [and] I mean in the business itself as a buyer's agent - it’s only entering it’s six months. I’ve purchased 10 properties so far. However, my investing journey went back since 2006 so I've had more than I guess 10 years [worth of] experience investing in property. I've got a software development background as well. I came from an IT, I guess I'll call it a background. I've been in IT for more than 15 years. I guess that's what gives me the edge of being a buyer's agent is being able to apply my IT skills, integrating with various systems like RP data and stuff to give me the information that I want.   

With a skill set like this, helping clients find property is part of Segoro’s daily routine…    

As a buyers agent, my job is to find property and to help people buy property. I'm serving some buyers on occupiers and investors. Obviously every market segment has certain requirements, occupiers and first home buyers are more into, you know, helping them find the coffee that suits their requirements and that is in a good location as well. But for investors, it’s more about the numbers. So I've got various strategies that I implement for them to give them, I guess financial advantage. 

Tommy Segoro’s Personal Story/Background   

Born overseas, Segoro shares how he found himself in Australia...

I came from Indonesia. I was born in Indonesia. I've been in Perth for, well since 1998. I came here when I was in year 10 and went into a boarding house.

I'm from a town called Surabaya, which is just an hour away from Bali. It's in Java island, but it's just an hour flight away. 

And why he moved at a young age...

As a boy, I guess back then I was really shy and so my parents were like, it's not good for a boy to be in Indonesia all the time, being close to his parents. So we need to send him somewhere that is far away from the parents so that he can be, I guess more independent. So that was my parent's intention back then.       

While not a common thing to be done, Segoro shares that his parents' decision to move him to Australia was for his own good...

Generally people in Indonesia, we tend to be very, I don't know what the word [is], but we tend to be hesitant to express our feelings and what not. So we tend not to be confident as a person. It's just the culture I guess. But as far as a sort of motivation sending their children overseas, often a lot of them are for education. But for me, number one is for confidence. And number two is obviously for education and the future.

So growing up in Indonesia, tell me a little bit more about that. I'm curious to learn, like what things did you do in Indonesia? What kind of, um, what was the upbringing like in Indonesia? Like what was your childhood like?

My parents didn't come from a rich family background. They work really hard and I think, you know, I can actually speak about a lot of people who are in the same boat as my parents. So because of that, a lot of us are taught to save a lot. To have a good career. Just so, as children, you're not going through what the parents were going through. I think if you want to talk about property specifically, a lot of us tend to buy cash back in Indonesia because obviously property prices are a lot cheaper in Australia. And secondly is because of that, I guess culture background. I mean a lot of us came from a poor family background. So to us cash is king. My parents always tell me, if you want to buy anything, a car, whatever it is, try to have the money first, don't have loans if possible. Especially on depreciating assets. So that's how I'd been raised. It doesn't mean that I'm good at saving, because me as a person in nature, I’m not good at saving. So I’ve been taught a lot and that’s how I’ve been raised. 

He also explains the reason he migrated to Australia while he was a highschool student...

My parents felt that I was old enough to go overseas and somehow I had the desire to explore and might as well just start high school here. Because I heard back then that if you start directly in Uni, I think you'd have to study for English first and it would be a six months waste of time kind of thing. Whereas when I went to Australia, I actually gained six months because while you actually start in February and we actually start in July in Indonesia. So as you can imagine, I was Year 10 in February in Australia. If I had stayed in Indonesia I would not have been in year 10.

In terms of integration, Segoro explains whether it was easy or not to move and start a new life here...

I was crying during my first night in the boarding house cause you know, obviously, I was homesick and I didn't understand a thing. I mean I had done an English course for like many, many years, but because you'd never practice day today and it's just, I mean, you know, Australian has their own sort of, I guess what do you call it...

language and slang.

Yeah. So I just didn't understand a thing for the first six months. I mean in the class I was just almost falling asleep almost every time just because I couldn't understand a thing. But luckily after six months, I was a lot more comfortable.

After highschool, Segoro took his parents advice and continued his studies, studying computer science at University...

Back then it was called a TER. And then after that, I went to uni. I just did computer science again, I mean this is the way you were raised. And so having Nasia is to have a good education. Don't just do, I mean a lot of my friends were doing commerce, but my parents always told me, you know, make sure you do a course that has tenable career movement. Like if you do computer science, you know that you're going to be a computer programmer. If you do engineering, you're going to be an engineer. But if you do commerce, it's like, what are you going to be doing? Are you going to own your own business but what sort of industry are you going to be in? So that's when I actually chose to do computer science. I actually wanted to do engineering, computer engineering before, but my marks were not sufficient so I did computer science.

Completing this three year degree, Segoro shares that in hindsight his experience in Uni wasn’t exactly what he expected...

If I look back now, I would confidently say that I applied nothing in what I’m doing now.

Like I hate to say it, but I didn't, I learned a lot back in uni, but I applied nothing. Having said that though, I think it's more of like the moral values that you get right there, the hard work and that sort of skills, is what I picked up but the technical skills itself I didn't quite apply what I was taking then because at that moment in terms of IT, I sort of like the [inaudible] space, those days we learnt about more computer programming and just sort of like a technical programming was just not applicable for me at that moment.

University education aside, how exactly was Segoro able to sustain himself with his family living in Indonesia while he studied in Australia alone?

I didn't have to support myself financially. So I was grateful that my parents had always had this, this is what they taught me as well is, you know, something like education is something that you just have to support your children with. But they keep teaching me and making sure I was saving money. I was only getting, maybe like $70 per week or something like that. It’s not huge at all for me just for my day today.

So I had a few part-time jobs in restaurants and what not becoming a waiter but that's about it. I think it was only when I graduated, that's when I started my programming journey.

Tommy Segoro’s Property Investing Journey

Following his university journey Segoro shares how he landed his first job in computer programming…

My first job was in a tending company as a PHP developer, funnily enough. So that's how I started my career. So I was in that tending company for maybe one year and then I moved to my second job. I think it was a recruitment agency or something. So I was still using PHP then but the company suddenly made a direction change to use Microsoft technology. So that's how I was first introduced to Matt and Michael's technologies, which I was really grateful because the NWA, as far as it goes into not pretty much Microsoft town.

While the skills gained at this job were useful, Segoro shares that he actually didn’t stay within that company for long, moving around up until his current position…

This is my 14th job. So I moved quite a lot to be honest. Because picking the days, every time I move I can get 10-$15k raise in salary. So that made me, get motivated, but not much just because of the money, but the experience as well. So I think until like right now I've been in this company with this company for like eight years now, but prior to that I was moving every 6-12 months. 

In the web development space for over fifteen years, at what time did Segoro start investing into the property...

So it was 2006, I remember that. I was 23 years of age and I earned my first six-figure salary. So, this is my story. And back in the days, I can remember, it was because of my ego I bought property because I just wanted to show off to my friends that a 23-year-old guy was able to buy his own investment property. I didn't do any research. I didn't do it at all. All my friends were telling me, you know, you earned this great money, might as well save tax, so why don't you just consider a property? And I'm like, oh, that's a great idea. Let's buy a property, just buy anything. It was a four by two house, a pretty little house. When I bought it was already 10 years old or something.

So it’s depreciation was minimum and long story short, after my tax return, I still had to fork out about $10,000 annually for that property. And that's how I lost my 50,000-$60,000 because I held it for six years. So from 2006 and I sold it in 2012. I bought it for $440,000. I sold it at $450,000. Minus the agency fees, I'm going to be making maybe $5000 a day. But then throughout the period, obviously it cost me $10,000. So it's, it's a 50,000-$60,000 loss.

While the lack of research could have been one of the reasons for the little profit gained, Segoro adds that the timing of the market did also affect his investment’s appreciation rate…

Because I bought it in 2006, Perth has just gone through a major boom in property price. So I was at the peak of the market. That's why there was no growth at all. That's why in six years, you know, it only went up from $440,000 to $450,000,because of that.

Despite these learning curves however, the results from that first investment didn’t actually stop Segoro from investing...

During that period, other than that property, I was partnering with a business partner to buy another property, another unit. Again, this was just another bad purchase. I mean, both of us didn't know any better. I still have that second property until today. It's a unit and again, it's negative cash flow as well. I was thinking of starting during the mining boom, but my partner was like, let's just hold it a bit more. But here in the downturn, I'll still have that with me. That was my second purchase. 

Fast forward to today, Segoro shares that he has expanded his portfolio quite a bit...

At the moment I've got five properties and one principal place of residence.

Thinking about the properties in his portfolio, he delves into whether or not he has experienced a horrible investing moment...

I would say, cause I think the moral of the story was the Castro was just too bad. I think a lot of people buy property, thinking that, did they always go up instead of east through in 20-30 years time. But I think what we often fail to see is can we actually hold that long and we survived 20 years fine. And because I had to sell because every month I have to keep forking out almost one grand every month and I was getting married and stuff and it was just, I thought this is a headache. And because of that, I had to sell early and I think I can speak on behalf of a lot of buyers that I've talked to so far is we are in the same boat in the sense that they just have to sell early and never experienced that growth. It's just because the cash flow is way too negative.

Having quite a bit of insight on situations like this, Segoro shares some valuable advice for people out there looking to invest...

What I would say is, number one, first and foremost is calculated your cash flow. I mean, property investment is very much like a business. I mean, who wants to sell a burger that costs a dollar and is happy to just take 40 cents. If somebody tells you to buy property to save tax, just run away. I mean, if you don't calculate your cash flow, that's how you lose money because it's all the running costs. I mean, if you've caught a lot of money in your buffer, that's great, but if not like me, I have to fork it out from my main bank account. You see it month after month. I'm like, holy moly, I'm making this much money and this is only the money I get leftover. It's just because to hold that property, it's just very expensive

On the flip side, Segoro shares one of his better investing moment stories… 

After those two purchases, I was vacuumed from property investing because again, I don't know if it's human nature or not, but you know, rather than blaming myself, I blamed the vehicle, I was like, property investment, it's not for me. I'm going to go out of the market for now. But then along the way, obviously I read more, I learned more and that's when I had my aha moment. I'm like, it's actually not that difficult investing in property, obviously, property investing. What I like is it's the kind of investment which you can actually just buy, set and forget kind of thing. As long as the cash flow on paper doesn't cost you any money, you can just hold that, you know, day after day without worrying about it.

So I had that aha moment and not just that, from 2012 to 2018 I didn't buy anything. So in 2018, this was obviously - the mining boom in Perth happened between 2013 to 2015 and then after 2015 it was pretty much downturn. And when I moved to this RP job, it was during the mining boom. So I had a - I was doing RP contracting as a contractor. I got paid a really good hourly rate and you know, I've been staying with the company for eight years now. And during the period of the mining downturn, when I asked around about salary off of the summer job, I would be getting maybe 30-$40 an hour or less. That's a good 70,000-$80,000 less in salary.

I was like, okay, I'm not going to move but come 2018 this is my aha moment. So it comes to 2018, I received this phone call from a recruitment agent and he was asking if I'm looking to move and I'm like, no, I'm not interested, but if you don't mind me asking, can you tell me what sort of package are you offering? Came to my surprise, they were offering the same salary during the mining boom time. And I'm like, Ooh, is this a turning point for WA now, are we at the bottom now? I mean, because for many years, like I just mentioned, we were talking 30-$40 per hour, less and all of a sudden there was this company willing to offer the same rate as I was getting at the mining boom. And I'm like, you see the turning points. So couple that with all the skills and knowledge that I've been acquiring regarding property investing, I'm like, I have to go back and something just spoke to my heart that I had to go back to the property market. So I bought two investment properties straight away

It was after this moment that Segoro not only decided to continue investing but also to become a buyers agent...

The buyer's agent, obviously it's not new as an industry, but it's new to a lot of people and especially in WA. But because of that, I would admit that my chart rate as a year is not that great yet. I've obviously the business, so through my IT job, it has allowed me to pay the bills and afford day to day expenses. So yes. I am still doing my IT as well as agency work. 

Increasing Property Profit Potential with Tommy Segoro’

Continuing from a previous episode to talk about the first few properties he purchased, Segoro delves into the story behind his third property and whether he resides in it or rents it out...

The third one is a house that we purchased, me and my parents. They are living in it. So I've got my stake as well in that property but currently, my parents are listed there. 

With a changing market and more properties to his name, Segoro shares the strategy he uses when it comes to investing…

My IT background has allowed me to sort of extract a lot of information from an IT data Start-Up. This is how we then make that into useful information. So one of the information that I gather from doing my analysis was you know is there like in terms of growth. 

You know people keep talking about good suburbs and bad suburbs but then from my analysis what it has allowed me to see is that there is no such thing called good suburbs or bad suburbs or units versus apartments versus houses. If you can hold for 15 years at a time you will always win in property. The question is can you hold that long? That has always been my rule of game is just, can I hold that long? So my strategy obviously is to buy and hold and it has to be positive cash flow on paper. So one of the things that I look at is rental yield, it has to be 5% or more at the very least. And that's what I applied with these two properties. Purchase one of them as just a standard single dwelling strategy buy and Hold. I think I'd buy the land for $190,000 total and build. About $380,000 is what I would get at the moment if it's rented at 10 and I rent it all by myself. So I didn't use a property manager and I'd managed to secure a tenant who can rent that for at least one and a half years. So I know that it would be a good 5.5% yield return. I've got a long term tenant so that lease that allows me to, you know, that there is positive cash flow and the second one I was purchasing was a two occupancy property which you can build two properties all in one title, one landline title and I can land them. And that one is actually positive gearing. It's not just cash positive cash flow. My understanding is cash flow is something that you receive after your tax return so it might be negative and then you get a tax return and it becomes a positive. But this one is positive gearing in the sense that the rent itself already covers the running costs. 

But how exactly did Segoro manage to find a property that would not only provide him with a stable income but would be able to sustain itself through rental costs?

I looked for areas where rental yield is high. So I looked at the comparison between property price and the rental income. If I can find a suburb where generally property median price is sort of - can give you that sort of 5% rental yield then that's how I filter down the areas. So that's number one and number two is obviously I have to make sure as well that the area is not just a dodgy area but it's an area that has growth, is close to amenities, close to work and jobs, close to transport.

So that said, I try to search for those opportunities.

Purchasing properties mainly in Perth, Segoro shares whether the abundance of these types of properties have dwindled or not...

You'd be surprised there are still a lot of them. There is another one. So this one was presented to me because the seller was almost assessed by the bank. And this is just a really good example because at the moment the property is rented by an investment company that pays you about $450 a week. The property itself is a villa, it's a brand new villa which you can actually purchase for about $340,000. So as you can imagine $430,000 for this there's almost maybe a 7% return already. A comparable analysis in the area actually sold for 417,000-$430,000 so as you can imagine between 340,000-$430,000 that's already instant equity so you've got plenty of opportunities like that at the moment in Perth if you know where to find them.

With an almost balanced portfolio consisting of positive cash flow properties and otherwise, Segoro explains whether he’s bringing this portfolio back to a neutral setting or not...

I think I've had enough buy and hold for now. The next one that I would like to buy is more like a flip or something that I can cross equity quicker, because I've actually bought a couple for my clients that had helped them doing that but I haven't bought one for myself so maybe for the next one it will be something that I can flip. 

Expanding on the idea of flipping houses, Segoro walks us through the process he goes through when renovating while giving us an example of a flip he’s done for clients in the past...

I've bought two for different clients, two examples. The first one is for $415,000, four by one property. It’s an old - really old property [built in the] 1950s or 1960s, something like that but it is located in the middle-up suburb. $415,000 for four by one I know four by two in that area I can sell as high as $800,000. 

So as you can imagine for 15 plus purchase costs, 5% stamp duty and everything and then you add let's say you add $100K renovation right, major renovation $100K to make it $550,000. 

And then after that you can sell it potentially for $550,000 and if you add another bathroom, so make it four by two, now you have a potential offsetting $800,000, that's just an example. 

Having explained such a clever way to increase the profit from a potential property, Segoro explains why that specific property was comparatively cheap compared to other investments…

The owner the mum who used to live there is now falling sick. So I think it's not under the what you call the executor. 

Ah okay, so it's like...

A real execute. 

Mortgagee for sale or something like that. 

Not even mortgage. 

I don't know if it's her daughter wanting that too and then just split the money to pay for the medical bills so that's why they were selling it for like pretty cheap. 

I think when I was there for it’s open home, there were like 13 groups maybe coming because we knew it's a steal because I think a lot of people were afraid of purchasing it because they were looking at the property from the hindsight saying, it's like a lot of work and stuff.

But how I see it is, okay that's fine if it needs work but let's say we've put in $100,000 net worth of work in that. It's still going to be bringing you profit. 

With increased value and equity on that particular property Segoro spills his thoughts on whether keeping that property to buy another one or selling it straight away would be a financially beneficial move...

I think if you tried to get equity out of it at only 80% of the valuation. So let's say that property is worth $800,000 and you're going to get $640,000 minus the remaining mortgage so you're not getting or going to get as much as you would have sold it. 

Having said that I mean my client is happy with the area. He might be considering to live in the property so depends on what he wants to do. 

Moving onto other property types Segoro shares whether developments or subdivisions are investment types he plans on carrying out in Perth...

This is a challenge with a lot of investors, they just want to be a developer because they reckon that's where the money is. Well not so much from how I've seen it so far. Because as soon as the seller recognises this property can be subdivided, he bumps up the price by like $500,000. Because of that, if you're the investor buying that property you're not going to make any money. Even if you try to flip because remember when you, let's say you want to build on that land and it's going to cost you close to $200,000 per building. So the question is now if they bump up the price by $100,000 you're losing $100,000 straight away right then and there. And the second question is the current market, can you actually sell that property easily? Because you have to keep paying for holding costs. I've been approached by a few developers who were losing a lot of money because they just failed to calculate the holding costs. They think I can just sell this. 

Yes on paper if you can sell it you can make money. But what if you can't sell it? I mean some of them can't even sell for more than two years. I'm not even kidding. 

So they can't even offload the property for more than three years and it’s just holding cost after holding cost. 

On top of holding costs, lengthy building timelines and a potentially fluid market, Segoro shares that there’s a lot to take into consideration when it comes to development.

What I see as well is the selling price. This is the dilemma, if you want to be able to afford development then you have to buy in low to medium sort of suburbs because prices feel pretty cheap at like 300,000-$400,000, but the selling price is also low. If you build a duplex you probably sell about 250,000-$300,000. There is no money to be made right. I think for development if you want to make money you have to do it in a blue-chip suburb because the building cost may be the same but the selling cost is way higher but then it will take you a lot more equity as well. And I've spoken to a lot of agents who are selling in the blue-chip areas. If I'm them in the current market, it's harder to find a buyer because as you can appreciate it we're talking about a million dollars of property. Not many people have that much money to spend. So that has always been the biggest challenge in development. I would be personally looking at renovation properties, I think I would rather do that instead because it's less capital and you’ve got more return.

Speaking of the funds needed for investments, Segoro talks a little bit about the different clients he deals with...

I've got a couple on occupiers one for first home buyers. So out of the 10 that I’ve purchased, I think three of them are owner-occupiers the rest were investors. 

And how he uses his IT background and access to RP data to complement his career as a buyer’s agent...

RP data is just data. It's a collection of It's a database that’s been there since I don't know 1970-1990 or something like that. 

But then it's up to you, you have to first know what you want to get out of it. And then from there, I’ve got that IT background, then because IT data has this thing called API which you can integrate with. So I can use my source code and connect with their API right. And then I can just literally do whatever I want. I mean in the API you can do a suburb search for example. So let's say for example I want to be able to show the median price of a suburb from 2012-2019. And then from that information, I can make a judgment if this suburb in the downtown market is not an option market, what about population and things like that. I mean data has all that library available for you to connect to so that’s how I do that.

"Nothing is expensive if you've got the money. "
-Tommy Segoro

Despite his search results allowing him to determine whether to buy in particular suburbs or not, Segoro adds that the results he gains aren’t actually always applicable to the investment strategy he wants to use...

I think for me again, when it comes to buying because I've got a lot of strategies to apply and not just buy and hold. I mean for buy and hold, yes, you can look at suburb profile and the growth and everything but something like renovation it's a second skill set. 

What I call finding a deal. It's more than just you've got the analysis skill that's looking at the growth in everything but then you still have to have that second skill set i.e. finding the actual deal itself. 

A suburb is just a suburb but you have to be able to find what property in that suburb that you need to buy. 

So I think something like RP data or analysis like that can’t give you the deal. 

It just gives you the information about a profile of a suburb but you still have to be able to go to a or a Domain and be able to spot a deal in that area.

And how are you finding the deals for yourself and clients as well to go into the main sources or year building speaking to agents directly like to get off market deals regularly that kind of stuff?

I mean so far the off-market deals I’ve got, they haven't been great, to be honest. People are like, well you know, one of the strengths of a buyer's agent is you are able to source the property market to buy a local property. There is a reason why they become off-market because the sellers don't want to pay the agency.

And because of that, the price rise is not cheap. I mean I look at all of these off-market problems, all of them are extensive. They are unrealistic. That's why they don't want to go to an agent because an agent might say, just being honest to them, that you're just unrealistic and that's what I find happens. So far all the deals I found just to release the document and I mean I think for me is being able to know the area. Every suburb has its own median price. That's how I look at a particular suburb. Let's say that the median price is $500,000 and then suddenly I spot a four by two for $415,000, then I know that's below market. That's a deal and that’s how I do it. 

Tommy Segoro’s Property Investing Mindset

Jumping into the mindset side of things, Segoro explains what it was that actually drew him to property and pushed him towards investing…

Then why is because I learned from my parents. So far my strategy has been buying and holds because my wife is pregnant at the moment and the way I was raised by my family as well is that they use the property as a capital for their children.

I think Warren Buffet once said,"You can be sitting under the shade right now because somebody planted a tree a long time ago."

So that's what has been my mindset with the properties I’m buying right now, it's just literally for my children’s future. 

Going back to when he first started Segoro reflects on the things that held him back from initially investing and why the current property atmosphere could also hold others back from investing too...

I guess mainly capital and secondly is it just banks at the moment are really tight. 

So that's why I think you have to find, like at the moment I've got the skills in property but my parents not so much. 

So combining I can use their money because they've got capital so we can both invest together. So that's just an example. But what I'm finding hard and the money is obviously you still have to save to buy property, even if you have equity. 

I've got a lot of strong buyers who have tons of equity. They're talking about 200,000-$500,000 equity but they can't access any of it just because they can’t service it. That's how the banks are looking at it at the moment. It's how much money you can borrow and how much money you can service. So a lot of people at the moment are struggling with either one of them, either they don't have the money or they just they've got a high salary but not much borrowing power or they've got a lot of borrowing power but not so much serviceability. 

Tommy Segoro’s Property Investing Habits

So knowledgeable about property now, Segoro shares that a lot of the information he drew from along his journey came in the form of not so much mentors but rather online resources and teachers…

I listen to a lot of property podcasts and videos and the various strategies that people implement. 

I wouldn't say mentors per se because a mentor is someone that you reach out to every now and then. 

This is more of just I guess teachers I would say because I listen to them, follow them, read about them. From Dymphna Boholt, Mark Rolton, Michael Yardney.

And then my parents, friends as well who have been like a big property developer in Indonesia. And yeah just people who have been successful in their investing journey. 

When it comes to books, Segoro has educated himself in property not by following certain authors but just by reading anything he can access and keeping up to date with property news…

I do read books. I haven't got a particular author that I’m following, it's just I find them through the Amazon Kindle and I just browse through property and I pretty much just either buy or there are some free ones there and I just keep reading them. 

He adds his take on the problems of over-educating himself when it comes to property and why he keeps his reading lists full but not overflowing...

So I guess I've seen a lot of people that know too much. 

And I think anything that is too much is not good. If I've got too much knowledge on property it might make me very critical and very cautious. I never buy anything just because I know too much. 

And why the best advice he’s received hasn’t come from any book or property guru, but rather from...

The best advice I’ve ever received is to buy something that you can afford. 

This is what my parents have always taught me is nothing is expensive if you've got the money. 

It's like if I only have $50,000 and I'm trying to buy a $1M property, that's expensive for me but for someone who has $1M is nothing. So that's what my parents always teach me is buy something that you can afford and that's the same case with the property when I say what we can afford. 

It's more than just how much money we can put in but it's like cash flow. Can you actually afford that property to hold that? Can you hold, can you take on the calculated risk not just stupid risk just because somebody tells you to buy. It's because you calculate and you know you can afford that. That's probably the best advice I've ever had. 

On another note, Segoro also shares with us the personal habit he has that he believes has helped him so far and will help him maintain his success in the future...

I never stop learning, I never stop working. This is what has struck me as well, a lot of what people wish they can just retire. Buy a house facing the ocean and just sit and relax every single day. 

And yet we see someone like Warren Buffet working and he's 88 years of age. So I think it's a mentality. I reckon if you have a poor personal mentality, it’s that kind of mentality where you'd want to retire and just not doing anything. But I think I will work until I die I want to keep growing, I want to keep learning. I believe that I still have a purpose in this earth until I’m completely gone.  

I mean you know people are like, I wish I had a lot of money so I could just go travelling. 

I don't enjoy travelling too much. Like after two weeks of travelling I'm tired and just want to go back to working again. 

Looking back to the past and knowing what he knows now, Segoro shares the advice he would have given himself ten years ago...

I would say to myself, ‘Get yourself educated. Cash flow is still king. Nobody has a crystal ball to be able to predict capital growth. You know it's coming but until then you just have to make sure you can afford the property.’ That's what I'm going to tell myself. 

Going forward five years, Segoro walks us through what he’s most excited about in his upcoming property journey...

Well, I would like to execute strategies that haven't been executed before. So I think again to fight for a client. Well, I think it's going to fade thankfully. But I haven't been in that journey myself. But I would like to be able to execute strategies that no one has executed. Another one is property options for example. I would love to be able to control a property without putting down a single cent to have things like that is what excites me. 

He adds that whether it be developments or otherwise, controlling a property is the main goal he’s working towards right now...

Either way, as long as I can control that property I can do whatever I want. I can benefit from developer fees and things like that. Because at the moment I think a lot of the people I've talked to so far they are open to the idea. We're just trying to break into that market, it's something that really excites me. 

Having given so much insight in regards to property investing and the like, Segoro ends by putting his interesting spin on whether he believes skill, intelligence or luck has been the catalyst for his success...

My intelligence contributes to something that I can control. Things like finding a positive cash flow property that's due to my intelligence and hard work obviously because I literally browse thousands of properties almost every day. I just type in a suburb with some criteria and it came back with some thousands results and I just literally go through one by one and save it in my database. the properties that I think are good. So that's due to my intelligence but luck I guess is something that I can't control. Things like being able to find a tenant in two weeks' time, who would expect that right?

 Property goes up and down. Nobody can control that. So things like that is luck I would say. I mean let's say you look at a suburb that is down-trending. You were like, it's a good time to buy but you never know. Next year it may go down even further. 

So that is where luck comes in. 

With so much more to share, here’s how you can get into contact with Segoro...

All my clients came from social media. So as you can imagine I’m active on all social media, Facebook, LinkedIn, Instagram, Twitter. So you're going to always find me there. Easy Buyers Agent. That's my business name or you can go to my website which is You can call me as well. 0404457754. Or you can email me again all the details on my website.

This episode was produced by Ashlyne Ocampo with narrations and interviews conducted by Tyrone Shum.

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