“My first million dollars came from my 3 acres of land” – Mr. Wong’s Land Banking Story

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Mr. Wong is a major sponsor of APAPA http://www.apapa.org/partners/sponsors.aspx. He has been financially retired for many years. When I met him couple years ago at a APAPA’s meeting, he knew that I am a APAPA’s volunteer, and a lifetime member. He also knew that I owned many acres of land in California and shared with me how he became a millionaire.

Mr. Wong told me that he purchased 3 acres of land in Kowloon Hong Kong when he graduated from high school in 1949 from his food allowance that he saved during high school. He came to United States to go to college, then he found a job as a civil engineer in California. In the late 1970s, a developer wanted to purchase his 3 acres of land to build high rise buildings, and offered him over 200 times more than his purchase price. He knew that it was time for him to make money in his 3 acres of land. He quit his job in US, and even gave up his US resident, then moved back to Hong Kong and worked with a local developer to build couple of high rise buildings on his 3 acres of land. The land made him a fortune.

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