Updated: 5 days ago
To say that Maxshangkar has far-reaching ambitions would be an understatement; he has global aspirations - and he’s already started achieving them. Where other property investors would be content to buy and sell properties in their own towns or the next state, or, at most, the neighboring countries, Maxshangkar takes it further: he goes to completely different continents, and in some cases, to places not usually connected with real estate.
He holds firm to the belief that owning property is akin to owning gold - but he didn’t get to where he is today, just by hanging on to tradition. He rolled up his sleeves, did his homework, clocked up his hours, experienced ups and downs, and took his chances - and amid this full, buzzing life, he also managed to write a book and earn an MBA from University of East London offered through WIM College.
His early career gave no indication of what direction he would eventually take. He did, however, insist on doing things his own way right from the start despite family objections.
"Right after I graduated, I sold healthcare products and water purification system,” he recounted. “I had lots of opportunity to hone my soft skills over four years, and I developed a good customer global network base.”
From healthcare products and network marketing, he moved to commodity trading, buying petroleum products and selling it in various countries with contracts worth millions and billions. It was hard work with a lot of travelling involved which took him to new territory, where he faced many challenges.
In 2009, he decided on a career business change, and moved to property investment.
“My main motivation for getting into real estate was the property boom that occurred just after the 2008 global economic downturn,” - he explained.
Not many people realized this; what they saw was primarily unpaid debt resulting from owners’ inability to repay loans, but as the old saying goes, every cloud has a silver lining and in this case, the silver lining was that many properties that had not been in the market before, were now becoming attainable and at affordable rates, as their owners tried to sell off quickly to avoid having to service their housing loans.
Realizing that he knew very little about the field, he threw all his energy into reading up on it and understanding it thoroughly.
“Many people who buy property don’t do their homework,” he remarked. “They don’t do proper research and planning, so they don’t know when to invest and million-dollar question: when and how to exit!”
They may not even know if they are making enough from their regular jobs, to be able to service the housing loan that they sign up for, and their dream property turns into a nightmare!
He took a different approach, recognizing from the outset that there was NO “one-size-fits-all” strategy, he founded the Property Investment Life Cycle (PILC) strategies as different strategies worked in different markets at different stages of economic cycles, so he decided that he needed to run a real estate business inside as well as outside the country. Having culled a wealth of experience in a multitude of risky businesses over almost a decade, he took the plunge once again and set up Max Capital Management (MCM), a group of companies that together provided services encompassing every aspect of property development, from conceptualising individual development projects, to sales and marketing, and providing project management consultancy services, including land acquisition, renovation, refurbishment and maintenance, for the finished buildings.
To be continued… How to become a Global Investor…