A property consultant and entrepreneur has advised investors to take advantage of the current property market as prices are affordable and rental rates are down.
“Rental rates are down. Property prices are down. What used to be exorbitant is now affordable. So now is the time to invest in real estate, whether it is a condo or a house,” says Mic Chan.
With the current Covid-19 pandemic, Chan noted a market shift where investors were choosing to put their money in real estate instead of banks which helped the recovery of the property market.
He also accepted the current situation that everyone had to adopt the “new normal.” Chan studied which types of properties were registering sales declines. It was his way of searching for that so-called silver lining – that positive element that could help them emerge from the crisis. And when he found it and used it as his sales pitch.
Chan owns several properties and to encourage people to rent, he slashed the rental rates of the buildings he owns. With reduced prices of properties, he stressed that those who do not own any property yetnow have the chance to own.
Ask what his secret to his success -- “Always think positive,” says Chan.
Chan is an advocate of the power of positive thinking. He does not need to explain its power. All one must do is learn about his success in the field of business and property consultancy. And despite the ongoing pandemic, he has managed to remain largely unscathed.
“During the lockdown, I started selling alcohol and masks. Everything was uncertain. Renting was down, numerous POGO outlets closed,” he said.
This positive outlook helped Chan achieve tremendous success in his chosen career. A graduate of Industrial Engineering from the University of Sto. Tomas, Chan earned his success by practicing discipline and be more specific in one’s goals.
His career began not with a bang, but through hard work. He started by selling villas at McKinley Hill.
“I was distributing flyers to people who dined at the McDonald’s,” he recalled with a smile.
Colleagues say Chan can sell you anything. He is charming, humble, and sincere. But he puts integrity and trustworthiness at the top of the list of virtues that become a successful businessman.
“Integrity is important if you want the banks to trust you with the money, they loan you,” he pointed out. “It also gives your client peace of mind.”
He has also been a voracious reader and read books authored by successful businessmen. Popular titles such as “Rich, Dad, Poor Dad” by Robert Kiyosaki offered him information and inspiration. He said it was this book that got him interested in real estate.
“When I was a student, I loved to play basketball. It was my passion. Yet even then, my mom, Leticia Chan, who is an OB-Gyn, would regularly dump a pile of books in my room. She encouraged me to read and read. So, when I was feeling tired, I would lie in bed and read those books,” he said.
His father, Carlito Chan owns a printing business. “I was just about seven years old then, “Chan recalled. “I got the chance to observe my dad at work.”
It did not take long before Chan decided to take the career to the next level by establishing a property consultancy firm, Rem Business Consultancy with Ricky Lesterio and Eusebio Danaja.
Rem offers various services that make it easier for their clients to purchase properties. These include offering consultations and advice, transferring titles, and documentation.
Like the authors who shared their business acumen through bestselling books, Chan is generous when it comes to sharing his expertise and business style. He has also written a book, “The Adventure Millionaire: Journey to My First Million.” The book has given him the chance to discuss how he focused his mind to achieve prosperity. His advice: “Enjoying the process instead of being obsessed with results. Expectations can block the flow of prosperity.”