Kurty Supercharged July 3, 2012 Share July 3, 2012 Hi, Sharing a story from my close friend, really wish to help but got no idea to it. Story goes: Friend ↡ Advertisement Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged July 3, 2012 Share July 3, 2012 if he wants to come back for a few days a month because of MOP then he is illegally subletting his flat.... because the only way he can sublet his flat legally is to tell them he is not in SG either for work or various reasons rental of 2k+ will pay instalments + some passive income. the qns is.... what if economy tanks and there is no rental..... he is not outcast... what he is trying to do is same as alot of people.. buy a place, rent it out as passive income and if property goes up.. sell the property... the only difference is .. he has not enough money and can do it only with a HDB...... so pls don't make hin out to be some poor soul..... Link to post Share on other sites More sharing options...
Jman888 Moderator July 3, 2012 Share July 3, 2012 sublet mean locked one room? Link to post Share on other sites More sharing options...
Icedbs Turbocharged July 3, 2012 Share July 3, 2012 Hi, Sharing a story from my close friend, really wish to help but got no idea to it. Story goes: Friend Link to post Share on other sites More sharing options...
SimonTan 2nd Gear July 3, 2012 Share July 3, 2012 Don't tell the tenants he will be away. Or else the tenets will sublet it n turn it into a gambling den! Or worst, the tenant smelly don't pay on time or delay few months rent, who will act for owner to collect rents? Link to post Share on other sites More sharing options...
Kurty Supercharged July 3, 2012 Author Share July 3, 2012 if he wants to come back for a few days a month because of MOP then he is illegally subletting his flat.... because the only way he can sublet his flat legally is to tell them he is not in SG either for work or various reasons rental of 2k+ will pay instalments + some passive income. the qns is.... what if economy tanks and there is no rental..... he is not outcast... what he is trying to do is same as alot of people.. buy a place, rent it out as passive income and if property goes up.. sell the property... the only difference is .. he has not enough money and can do it only with a HDB...... so pls don't make hin out to be some poor soul..... thanks for the advise. he will have to come back due to visa concern, 30days. will that be illegal too? yeah, worst fear is business fail and economy tank.. hopefully one turn out well.. is the monthly instalment to HDB over 260k over 30years stretch affordable? was told that it will only be around 200-300 per month. no lah, he's no poor soul. i wish i could help, at least as a friend for 20years. at our age, we are afraid to make mistakes or make the wrong move Link to post Share on other sites More sharing options...
Lala81 Hypersonic July 3, 2012 Share July 3, 2012 Just tell HDB u going overseas, they will allow u sublet the whole unit most of the time. If he comes back stay few days here n there, will run e risk of subletting illegally. Just stay with his parents lah during those few days. Link to post Share on other sites More sharing options...
Kurty Supercharged July 3, 2012 Author Share July 3, 2012 sublet mean locked one room? yeah. Yes it is illegal. He better don't get caught. In the first place, are you sure HDB allows the flexibility of when the MOP is suppose to start? yeah, it can be done. just need to write in to inform offically. after all, most of the time, he will be out of SG Don't tell the tenants he will be away. Or else the tenets will sublet it n turn it into a gambling den! Or worst, the tenant smelly don't pay on time or delay few months rent, who will act for owner to collect rents? haha, yeah. gd point there. he will be back once a month, for rental collect, myself or his mum could assist. Link to post Share on other sites More sharing options...
Westkid 2nd Gear July 3, 2012 Share July 3, 2012 maths sala. Link to post Share on other sites More sharing options...
Metalsubzero Clutched July 3, 2012 Share July 3, 2012 How can $260k loan for 30 years cost $200-300/mth? Even without interest it costs $722/mth.. I think $1000 or thereabouts is a closer sum.. Im payin about $1200/mth for a $300k loan Link to post Share on other sites More sharing options...
Kurty Supercharged July 3, 2012 Author Share July 3, 2012 How can $260k loan for 30 years cost $200-300/mth? Even without interest it costs $722/mth.. I think $1000 or thereabouts is a closer sum.. Im payin about $1200/mth for a $300k loan wow.. ok, thanks for sharing. wrong info from my estate friend then. Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged July 3, 2012 Share July 3, 2012 How can $260k loan for 30 years cost $200-300/mth? Even without interest it costs $722/mth.. I think $1000 or thereabouts is a closer sum.. Im payin about $1200/mth for a $300k loan mine about 280k also about 1.1k Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged July 3, 2012 Share July 3, 2012 thanks for the advise. he will have to come back due to visa concern, 30days. will that be illegal too? yeah, worst fear is business fail and economy tank.. hopefully one turn out well.. is the monthly instalment to HDB over 260k over 30years stretch affordable? was told that it will only be around 200-300 per month. no lah, he's no poor soul. i wish i could help, at least as a friend for 20years. at our age, we are afraid to make mistakes or make the wrong move may be illegal... he will also have to inform HDB about occupant..... monthly instalment is about 1k - 1.1k if he is worried about making the wrong move... i think his eatery businees will be his major concern rather than the flat Link to post Share on other sites More sharing options...
Tonyhawk 1st Gear July 3, 2012 Share July 3, 2012 ask HDB lah. i've heard it done before, where couples buy HDB, and then go overseas to study/work. HDB allowed them to rent out their EC/HDB. regardless, just ask HDB lah. Link to post Share on other sites More sharing options...
Westkid 2nd Gear July 3, 2012 Share July 3, 2012 wow.. ok, thanks for sharing. wrong info from my estate friend then. U sure ur fren can cook?Got teacher? [:p] Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged July 3, 2012 Share July 3, 2012 ask HDB lah. i've heard it done before, where couples buy HDB, and then go overseas to study/work. HDB allowed them to rent out their EC/HDB. regardless, just ask HDB lah. confirm can.. as long as can prove not in SG... even if go back parents place cuz of new baby also can apply..... just that this will delay the MOP... for eg: if he buy now... he stay 2 yrs then rent out... go overseas work for 3yrs then come back.. then he has to fulfill another 3yrs of MOP before he can sell Link to post Share on other sites More sharing options...
Kurty Supercharged July 3, 2012 Author Share July 3, 2012 U sure ur fren can cook?Got teacher? [:p] well, learning. it's more like a desert shop Link to post Share on other sites More sharing options...
Unltd 5th Gear July 3, 2012 Share July 3, 2012 Do not attempt to illegally sublet, if not staying in Singapore, don't lock one room. If there are complaints, HDB will send officers to monitor and stake out the place. Nowadays penalty is not light. Just report to HDB about overseas posting or business and delay the MOP. If not, take the risk and risk getting the HDB bought back at way below market price, lose your interest for your CPF, lose your probable profits and potentially go into debt when it happens. Oh yeah, cannot buy another HDB, rental from HDB also problematic.... If all these are worth it, then illegal sublet lor.... ↡ Advertisement Link to post Share on other sites More sharing options...
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