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Sirius Financial Services is a Property Investment Facilitation Company founded by Wayne Lee in 1998.
I stumbled across the concept of gearing in a Business Finance course at varsity. I remember so clearly the night I did the cash flow forecasts in my Turffontein flat in 1993. I thought I had discovered gold and couldn’t sleep. Now I still get excited about the concept. What I have learnt is not everyone understands what Kiyosaki refers to in his books as 'delayed gratification'. In practice it’s actually not that easy but the wealthy master it. This together with gearing can be very effective.
After purchasing a number of properties for myself, friends and family in the early 90’s, I felt there was a need for a one-stop facility to assist people in creating wealth through property.
After launching Sirius, I did five deals with his tax clients in a month – then interest rates rose to 24%. In the following year I did 300 presentations with only 2 people becoming new clients. I survived through tax consultancy and financial planning services but kept buying properties myself, as I believed in the concept long term.
I remember waking up in the morning perspiring because I had dreamt property had boomed already and I had not bought enough. Strange dreams but it was not a weird hunch, it was fundamentals.
In South Africa, with our political history and economic uncertainty, we have developed a very short-sighted view on investing. In fact it’s virtually a zero investment – maximum consumption attitude. It probably is a worldwide phenomenon that people live in a capitalistic environment and don’t understand that the first step is obviously to accumulate capital. Many people analyze investments without the ability themselves to spend less than what they earn. It’s easy to read Kiyosaki books and enjoy them as they make intellectual sense. To apply the principles considering your personal emotions is something else.
The following year the clients started to bite. People started to see the potential. Since then Sirius has made substantial returns on their clients’ money. Between their seven franchises they manage in excess of 600 properties and the business has become a wealth accumulation machine for its clients.
Sirius represents its clients only, so they do not do mandates. We can’t represent the buyer and the seller simultaneously. For our buyer - if we make our client money – they keep buying more - It’s simple.
I am as excited as ever about the future of the business. 99% of so called investors are speculators and when the interest rate cycle turns they disappear.
Although it was more difficult to find clients in a negative market, its when you really make money for them – I prefer having loads of desperate sellers and having to hunt for clients with the right long term vision.
Sirius has an amazing intellectual infrastructure with its ability to source good deals, raise the finance and continually manage all the operating aspects of an investment property, such as rental collection and maintenance. "There is no quick buck’ he says ‘and our growth as a business will continue to be slow and steady".
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Timeline
1993 - I remember so clearly the night I did the cash flow forecasts in my Turffontein flat in 1993. I thought I had discovered gold and couldn’t sleep. Now I still get excited about the concept
I felt there was a need for a one-stop facility to assist people in creating wealth through property
1998 - Sirius Financial Services is a Property Investment Facilitation Company founded by Wayne Lee in 1998
1999 - After launching Sirius, Wayne did five deals with my tax clients in a month - In the following year Wayne did 300 presentations with only 2 people becoming new clients
I remember waking up in the morning perspiring because I had dreamt property had boomed already and I had not bought enough
2000 - The following year the clients started to bite. People started to see the potential. Since then Sirius has made substantial returns on their clients’ money
2001 - I prefer having loads of desperate sellers and having to hunt for clients with the right long term vision
2004 - Sirius has an amazing intellectual infrastructure with its ability to source good deals, raise the finance and continually manage all the operating aspects of an investment property
2006 - Presently operating 7 profitable franchises
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