Who doesn’t know Francis Choi Chee-ming? Yup, Choi is a famous businessman who earned the nickname of a French toy king and billionaire after buying up various properties during a crisis. Choi’s shrewdness in seizing business opportunities has made him successful in two businesses at once, namely the toy business and the property business.
|Francis Choi Chee-ming Buying Property During the Economic Crisis
Decided to Purchase Property in Crisis Times
When the 1997 economic crisis hit, who would have thought that Choi decided to buy various properties? Not only that, but Choi also bought other properties when the terrorist attacks shocked the world on September 11, 2001.
What do you think made Choi act like that? Property prices tend to be cheaper in times of crisis.
The reason is, Francis Choi Chee-ming has been watching the property market for a smart two years earlier. Therefore, when companies started to crash in 1997, Choi managed to turn things around by buying the commercial tower of Tsuen Wan Hover Plaza.
Then, the investment value of various properties continues to increase to make it what it is today.
Continuously Growing from Inexperienced to Intelligent Learner
You’d be wrong to think that Choi was a man of experience when he started his property career in 1997. After all, the commercial tower Tsuen Wan Hover Plaza was his first investment.
From here, Choi continues to hone his skills to become a smart learner. Choi also found that there are economic cycles every four to six years.
Thus, Choi continues to observe the development of the property business. He waited for the right time to start investing, from low-cost properties to high-value properties. That is, Choi has a long-term plan and does not stop at the toy business that made him famous before. So, are you more motivated to follow in his footsteps?
Apart from waiting for the economic crisis to gain property benefits in the future, you can also start investing now. Thus, you have done long-term financial planning like Francis Choi Chee-ming.