Andyngps 5th Gear February 8, 2016 Share February 8, 2016 I see. Then not exactly overleverage la. Most likely they can easily pay for the condo even if the rental is lower than what they expect (after using max CPF). Prob bro. But i said overleverage because they jack up their loan limit. They are expecting a near 5k monthly instalment. So i guess only if they cannot rent out then issue will come. But if they lower their rent then it seems lucrative since the tenants are paying their loan. I don"t understand how come there are many other people who are rich enough to afford yet they don"t jump into this deal if it sounds really good. ↡ Advertisement Link to post Share on other sites More sharing options...
Showster Twincharged February 8, 2016 Share February 8, 2016 Prob bro. But i said overleverage because they jack up their loan limit. They are expecting a near 5k monthly instalment. So i guess only if they cannot rent out then issue will come. But if they lower their rent then it seems lucrative since the tenants are paying their loan. I don"t understand how come there are many other people who are rich enough to afford yet they don"t jump into this deal if it sounds really good.I think is OT. The strategy is adopted by many of the people I know, none of which are civil servants. For it to be meaningful, have to stick with it for maybe 5 to 10 years. There are risks to do with locking of funds, policy risks. Substantial work to coordinate as well. Not everyone is comfortable with that risk even if they had the funds. Stocks and bonds have much higher liquidity. Link to post Share on other sites More sharing options...
hsl118 6th Gear February 8, 2016 Share February 8, 2016 I think is OT. The strategy is adopted by many of the people I know, none of which are civil servants. For it to be meaningful, have to stick with it for maybe 5 to 10 years. There are risks to do with locking of funds, policy risks. Substantial work to coordinate as well. Not everyone is comfortable with that risk even if they had the funds. Stocks and bonds have much higher liquidity. Much higher 'perceived' liquidity. All the clients cry mother cry father in Jan and asked why didn't advise oil and stock will go to bed together Link to post Share on other sites More sharing options...
2BDriver Hypersonic February 8, 2016 Share February 8, 2016 Kopi with roti Chennai. @2BDriver , please come. Hi,Tuan Yuan,Wishing you and Family and Gang of Four A properous Wealthy Chinese New Year. Can you and gang recommend a good quality "Filter" ? My doctors advised me to stop drinking alcohol due to my kidney filter found leaking protein into the urine, life is becoming meaningless liao. 8 Link to post Share on other sites More sharing options...
Leinad8919 Turbocharged February 8, 2016 Share February 8, 2016 Hmmmmmm............ is that @2bdriver in monkey costume ..... Judging from the Brazil jersey, it's easy to guess who's under the monkey costume Link to post Share on other sites More sharing options...
Andyngps 5th Gear February 8, 2016 Share February 8, 2016 I think is OT. The strategy is adopted by many of the people I know, none of which are civil servants. For it to be meaningful, have to stick with it for maybe 5 to 10 years. There are risks to do with locking of funds, policy risks. Substantial work to coordinate as well. Not everyone is comfortable with that risk even if they had the funds. Stocks and bonds have much higher liquidity. Truly said. But they feel that its less risk than stocks because of the perceived steady rental and they got the house at slightly below its x value. They plan to hold it for 5 years only and hence they feel the risk is low. Furthermore they have the extra cash from their hdb disposal and they have enough liquidity to even get a new car and have leftover balance. They feel that they are just making use of bank's money to load into the condo and hopefully their rental will cover it back, which they are confident of. Im just thinking if interest rates goes up by another 1% from now, i wonder how they would change their strategy. I have in comparsion another friend, who owned two condos and his pay is like $20k per month. And yet he told me he sold away one condo because rental market is weak. Two very different income capability and two different thoughts. I would think the 20k per month guy got even less risk but yet he adopted the least risk approach compared to this fren who earns less than 8 times of the other guy (but the way, the other high income guy's condos are fully paid), yet his appetite of risk is like way way higher. Maybe he thinks staying with parents is free. Even if their monthly pay goes 100% ibto the condo its ok since they do not need the money for livelihood it seems. Link to post Share on other sites More sharing options...
Showster Twincharged February 8, 2016 Share February 8, 2016 (edited) If your income is too high, more income tax will be paid out via if one collects rental. So the higher income earners may not adopt this strategy. Even more so if there is perceived job insecurity. Truly said. But they feel that its less risk than stocks because of the perceived steady rental and they got the house at slightly below its x value. They plan to hold it for 5 years only and hence they feel the risk is low. Furthermore they have the extra cash from their hdb disposal and they have enough liquidity to even get a new car and have leftover balance. They feel that they are just making use of bank's money to load into the condo and hopefully their rental will cover it back, which they are confident of. Im just thinking if interest rates goes up by another 1% from now, i wonder how they would change their strategy. I have in comparsion another friend, who owned two condos and his pay is like $20k per month. And yet he told me he sold away one condo because rental market is weak. Two very different income capability and two different thoughts. I would think the 20k per month guy got even less risk but yet he adopted the least risk approach compared to this fren who earns less than 8 times of the other guy (but the way, the other high income guy's condos are fully paid), yet his appetite of risk is like way way higher. Maybe he thinks staying with parents is free. Even if their monthly pay goes 100% ibto the condo its ok since they do not need the money for livelihood it seems. Edited February 8, 2016 by Showster 4 Link to post Share on other sites More sharing options...
Yuan 6th Gear February 8, 2016 Share February 8, 2016 Hi,Tuan Yuan, Wishing you and Family and Gang of Four A properous Wealthy Chinese New Year. Can you and gang recommend a good quality "Filter" ? My doctors advised me to stop drinking alcohol due to my kidney filter found leaking protein into the urine, life is becoming meaningless liao. Uncle, tiagong stout with raw egg makes an excellent combination as good quality "filter". Jin satki also. No horse run. Your life will be meaningful again. Otherwise, I think @Tigerwoods may have some good alternatives or suggestions. 4 Link to post Share on other sites More sharing options...
2BDriver Hypersonic February 9, 2016 Share February 9, 2016 Judging from the Brazil jersey, it's easy to guess who's under the monkey costume 7 Link to post Share on other sites More sharing options...
Tigerwoods Turbocharged February 9, 2016 Share February 9, 2016 Uncle, tiagong stout with raw egg makes an excellent combination as good quality "filter". Jin satki also. No horse run. Your life will be meaningful again. Otherwise, I think @Tigerwoods may have some good alternatives or suggestions. @Yuan and @2BDriver,Kong Hei Fatt Choy!!! Loong time no post here due to company locked it down in office. Sorry to hear 2BDriver health issues. Actually your health can only get better from now onwards, if you follow doctor's orders refrain from Alcohol. No not Raw egg n Stout please. My truthful Answer is having a meaningful life does not circle around alcohol, but having family and friends circling you. Let's have a drink Green Tea MU and we talk about it. 8 Link to post Share on other sites More sharing options...
Othello Supersonic February 9, 2016 Share February 9, 2016 (edited) @Yuan and @2BDriver, Kong Hei Fatt Choy!!! Loong time no post here due to company locked it down in office. Sorry to hear 2BDriver health issues. Actually your health can only get better from now onwards, if you follow doctor's orders refrain from Alcohol. No not Raw egg n Stout please. My truthful Answer is having a meaningful life does not circle around alcohol, but having family and friends circling you. Let's have a drink Green Tea MU and we talk about it. green tea ?? what an insult !! I'll let 2BDriver sniff my beer I'll drink on his behalf he can still drink beer lah ..... Edited February 9, 2016 by Othello 4 Link to post Share on other sites More sharing options...
Andyngps 5th Gear February 9, 2016 Share February 9, 2016 If your income is too high, more income tax will be paid out via if one collects rental. So the higher income earners may not adopt this strategy. Even more so if there is perceived job insecurity.I agree on the income tax part. But the high income fren is working in a very stable government sector and job insecurity is definitely out of the question. In addition, the houses he had is under his wife's name, who is an average earner. Which is why the contrast between these two friends are huge in terms of risk appetite. 1 Link to post Share on other sites More sharing options...
Leinad8919 Turbocharged February 9, 2016 Share February 9, 2016 Bro Leinad8919, 恭喜发财,新年快乐。。。。。。。。。 大佬 雷哪八九一九,人不风流 枉少年,我 递大家 都感话啦 2 Link to post Share on other sites More sharing options...
Kusje Supersonic February 9, 2016 Share February 9, 2016 I agree on the income tax part. But the high income fren is working in a very stable government sector and job insecurity is definitely out of the question. In addition, the houses he had is under his wife's name, who is an average earner. Which is why the contrast between these two friends are huge in terms of risk appetite. That could be the reason. Link to post Share on other sites More sharing options...
Andyngps 5th Gear February 10, 2016 Share February 10, 2016 That could be the reason.Lol. Which? Link to post Share on other sites More sharing options...
KumarB 3rd Gear February 12, 2016 Share February 12, 2016 Wonder if its a qq, whether there will be a big hoohaa or not.. haha if qq,the driver probably would faster drive off his car. not like this act rich but not rich and powderful civil servant trying to act yaya. should have asked him whether his bmw 316 is paid in full cash? Link to post Share on other sites More sharing options...
macrosszero Turbocharged February 14, 2016 Share February 14, 2016 So still cannot find out who the evil serpent is? Link to post Share on other sites More sharing options...
Jusnel 6th Gear February 14, 2016 Share February 14, 2016 (edited) Ohh...they have never stayed in the place they bought even for the hdb. They stay with their parents. Free taking care of the kids plus food..Personally. I despise such people. So old already, still want to depend on parents and drink milk? This type of people, even if they make it rich next time, others will say they count on parents, not on own capabilities. Don't tell me about filial piety crap. If they wan to be filial piety, they shld get a bigger condo, get parents to move into the condo with them so that the parents can enjoy a better living environment, and rent out the parent's HDB and the rental $ goes back to parents. Don't say I sour grape. I also have this same opportunity to do it now, but I won't. I rather depend on own than to hide behind parents. Edited February 14, 2016 by Jusnel ↡ Advertisement 1 Link to post Share on other sites More sharing options...
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