EP 61 | Sean Cheung: How Accountant Built $30M Real Estate Empire At 33
Aug 3, 2024
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Sean Cheung, an accountant turned property developer, has built a $30 million real estate empire in just six years. He shares his journey, revealing the importance of networking and relationships in securing investor funding. Sean discusses the challenges he faced during his most difficult deals and emphasizes the strategic approach needed in today’s volatile market. He also highlights the balance between financial goals and personal growth, urging newcomers to focus on self-investment and mentorship in their entrepreneurial paths.
Sean Cheung highlights the significance of investing in personal education and networking, which propelled his rapid growth in the property sector.
He emphasizes the importance of building relationships with investors by defining their profiles and consistently sharing successes to foster trust.
Cheung discusses his approach to risk management through diversification and maintaining cash flow focus, which helps navigate volatile market conditions.
Deep dives
Building a Successful Property Portfolio
The speaker reflects on his impressive journey in property investment, nearing 33 years old with a diverse portfolio valued at around £10 million and generating nearly seven figures in cash flow. He has successfully raised £4.5 million in investor funding, demonstrating significant growth since starting in the industry in late 2018. By strategically leveraging his financial acumen and investing in multiple deals, including over 30 projects to date, he aims to reach a target of 1,000 HMO units within the next few years. This ambitious goal showcases his dedication to scaling his business to new heights and maximizing the potential of his investments.
The Importance of Education and Networking
A pivotal moment in the speaker's career was when he invested in his education and networking opportunities, spending around $120,000 on various courses and connections. He emphasizes the value of forming relationships with experienced investors and mentors, which helped him accelerate his growth in the property sector. The knowledge gained from these courses allowed him to adopt necessary strategies, such as leveraging assets and understanding the significance of cash flow. Ultimately, he recognizes that investing in oneself is crucial for anyone looking to succeed in any industry.
Navigating Investor Relationships
The speaker provides insights into how to successfully close deals with investors, emphasizing the importance of defining the ideal investor profile or 'avatar'. He recommends actively engaging with a variety of potential investors and communicating successes transparently, which fosters trust and encourages investment. His experiences illustrate that consistency in sharing progress, even during quieter periods, can lead to fruitful conversations down the line. By taking a proactive approach, he has been able to build a strong network of investors who recognize his abilities and willingness to deliver substantial returns.
Understanding Risk Management
The podcast dives into the speaker's approach to risk management, highlighting his high-risk tolerance shaped by experiences in gambling and property investments. He illustrates his comfort with calculated risks, maintaining a focus on cash flow and project viability regardless of fluctuating market conditions. The speaker stresses the importance of building a diverse portfolio to mitigate risks, allowing him to withstand market fluctuations while still moving towards growth. This strategy reflects a balanced acknowledgment of both potential rewards and the necessary caution in financial decision-making.
Balancing Personal and Professional Life
A key takeaway from the conversation is the necessity of maintaining a balance between personal enjoyment and professional ambitions. The speaker shares his love for travel and exploring new cultures, which not only enriches his life but also motivates him in his business endeavors. By acknowledging that monetary goals can be distracting, he emphasizes the importance of finding experiences that provide fulfillment beyond financial success. This holistic view encourages aspiring entrepreneurs to look at their journey as more than just profit, promoting well-rounded growth and enjoyment throughout the process.
Sean Cheung is an accountant and property developer. He currently owns a portfolio worth $30Million which he has built in the last 6 Years & has the goal of reaching $1Billion.
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