The bestselling book Rich Dad, Poor Dad has been so influential that its title has permeated public consciousness and become a part of our shared vocabulary. On today’s episode of Real Estate Mindset we get together with San and Oia Eng, the father-daughter duo who co-authored the Wall Street Journal bestselling title Ten Commandments of Investing: Guiding Principles from the Greatest Investment Wizards, along with her cousin Tim Eng. Hear why San asked his daughter to read Rich Dad, Poor Dad, and The 4-Hour Week and how these titles inspired Oia to become more involved in her father’s field of real estate and investing. We discuss how they identified the topic of their book, why they were determined to make it more global and inclusive than other investment books, and how it offers a more accessible route to investing than the other titles currently available. San talks about how he first got into real estate and breaks down the details of some of his investments in multifamily real estate in Canada and the US. We delve into how his investments fared during the height of the COVID-19 pandemic and why B and C asset classes are such reliable forms of investment that can weather difficult economic periods. Later we hear from San and Oia about their definition of success, the importance of financial freedom, mentorship, and why it’s all done with friends, family, and happiness in mind. Tune in today for this very special intergenerational conversation with San and Oia Eng on success, living life, and the power of mindset!
Key Points From This Episode:
- Introducing today’s guests San Eng and his daughter Oia Eng.
- Hear about San’s background and how he became involved with real estate.
- How San, Oia and her cousin Tim co-authored a book on investing during the lockdown that was instituted as a result of the COVID-19 pandemic.
- The details of San’s investments in multifamily real estate in Canada and the US.
- Why B and C asset classes are reliable forms of investment that can weather difficult economic periods.
- San shares the story of how he moved to America during China’s cultural revolution.
- Why San chose to take a sabbatical in his fifties.
- How they made the book more inclusive by intentionally adding examples of women and women of color to the list of successful investors.
- How San identified a knowledge gap that their book could fill.
- Some of the rituals Oia completes every day that help to keep her grounded.
- The importance of mindset in their book and the concept of mind to mind.
- San shares how a mentor helped him early in his career, and how a different mentor supported him during the midpoint of his career.
- How Oia benefitted from the mentorship of her parents.
- What Oia learned about mindset from her first conference.
- San shares how in the past he has made the mistake of not having a team of experts with complementary knowledge in the requisite areas.
- Oia reflects on how grit and having a vision are integral to success.
- San shares some of the elements that have contributed to his success.
Links Mentioned in Today’s Episode: