Real estate agent bought condo and Porsche at 22, earned first million at 24, Money News
The name Jervis Ng might not ring a bell to you, but he might be a familiar face to some, especially if you regularly surf YouTube videos.
The real estate agent features more than a few videos marketing different high-end properties in Singapore, like this $ 63 million Good Class Bungalow home. He also gives real estate advice to buyers and incentive talks to agents on his social media, like this one on how to be a millionaire at 24.
For a 24-year-old, he definitely seems to have accomplished more than others his age.
Ng is listed as the founder of JNA Real Estate, an independent team of Propnex Realty, Singapore’s largest real estate agency. He currently leads a team of over 30 agents, mostly young millennials.
The company negotiates investment deals in all types of property – residential, commercial and industrial properties, and Ng’s LinkedIn profile proudly states that he has “transacted $ 150 million in investments in the CBD.”
According to EdgeProp and 99.co, he is not only one of the youngest team leaders in the market, but the youngest to win the Platinum Award given to agents who have made more than $ 100,000 in commission.
Even more impressive is the fact that he started in this business just three years ago. His motivation then was to find a quick way to erase his college student loans (yes, he’s still studying, but we’ll talk about that later).
Through the interviews he gave, we learned a few more things about this enterprising young real estate agent.
1. The Porsche you see in the videos is his
No, this Porsche Boxster S that you see in his videos is not a rented accessory and was purchased two years ago, with its first ownership.
2. He has a 2 bedroom condo
At 22, he bought his first property at Twin View in West Coast Vale. A 2 bedroom unit in the development is currently priced between $ 900,000 and $ 1.25 million.
3. His father is also in real estate
According to EdgeProp, Ng was inspired to get into real estate because of his father’s experience in the industry. He also listened to his parents talk about the business during his childhood years.
But one thing Ng is keen to do is turn away from his father’s “traditional” way of doing his job, “so every thing he does, I try to be different.”
Ironically, they were initially reluctant to let him make his foray into the business. Ng said his mother is still concerned about his grades in school despite making “a lot of money” with business real estate.
4. He pursues law studies among his double degrees
Ng is currently a student at the Singapore University of Management, pursuing a degree in Business Management and Law. But instead of focusing on his grades, his goal is to gain knowledge that can be applied to his real estate business, such as real estate law and real estate financing.
5. He earned $ 170,000 in commission in his first month on the job
Despite his tremendous achievement, Ng said he felt “aimless” and decided to devote his earnings to longer-term goals he was passionate about, and to avoid a “midlife crisis”. Most of his income is now reinvested in his business.
6. What matters most is not the money
Stating that he’s not afraid of losing all of his wealth, he’s even willing to give up his Porsche if it’s a step he needs to take to achieve his goals. He says what matters to him is “a nice house, a good family and great values”.
7. His team has a “millennial crèche”
According to Ng, his office at Gambas Crescent is an 1,800 square foot space “accessible 24/7” by all team members for work, training or just to relax. And they even made a video about it.
“We wanted a space where everyone can call home,” says Ng in the video. “You have to have fun so you can make money, you don’t have fun making money for what.”