“Lo Kheng Hong’s Inspiring Journey from a Small House to a Luxury Mansion through Stock Investments”

Jakarta, CNBC Indonesia – Indonesia’s prolific investor Lo Kheng Hong became a tycoon through stocks. He has even been nicknamed Indonesia’s ‘Warren Buffet’.

Long before that, it turned out that Lo Kheng Hong had never owned a house and lived in a residence that was far from decent.

“When I was married I didn’t have money to buy a house, so I stayed at my mother’s sister’s house. An old house measuring 5×10 on one floor, the floor is not tiled, so it’s very old,” said the big investor story on YouTube WinMax, quoted on Wednesday (15/1/2023).

Lo Kheng Hong said that the first house he shot while working as an administrator at a bank was a simple house of type 40/90 in the Kosambi area, West Jakarta, costing IDR 45 million. This is because his salary was only Rp. 1 million in the 90s.

“Even though in West Jakarta there was housing that was very elite at that time in Green Garden, I didn’t dare to look at it. Because I, as a clerk in a bank, with a small salary, maybe only the equivalent of Rp. 1 million,” he said.

However, like a sudden windfall, Lo Kheng Hong suddenly got a lot of profit from the investment in stocks that he had owned for a long time. He became able to buy a luxury house in an elite area that was unimaginable before.

“Finally, at the end of 1993, the tight money type money policy was relaxed and stocks went up. I got a lot of money and what I actually bought was not the one in Kosambi, but the one in Green Garden. What I never dared to see, That’s where I bought it,” he said.

“Wow, God’s blessing was so big in my life, it was so magical that I never thought of it, but God gave it. That’s an experience,” he added.

After buying a luxurious house, Lo Kheng Hong began to pay off the furniture one by one. “Buying still vacant land, paying in installments we will fill it in slowly, not right away. We go to the mall to buy 1 bed, buy a sofa. We don’t use interior design as long as we buy what we buy,” he said.

Lo Khong Hong advises the millennial generation to take advantage of income by buying assets whose value is not depreciating. Such as cars or other luxury goods.

“A person’s value is not what he wears, but seen from what he says and does. If he buys a car rather than a house, he is wrong. If a car depreciates, then a house appreciates,” he concluded.

(Zefanya Aprilia/ayh)