RadX Moderator July 20, 2017 Share July 20, 2017 to cheer on TS and help him decide how best to spend(invest?) his 50k cash and borrow more? gd exec summary and oh ya, i need to post this ...not to u hor haaaaaaaaaaaaaa ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Angcheek Hypersonic July 20, 2017 Share July 20, 2017 Dont know leh å¤§å¥ I think you better lock it Hee hee You shld ask ts to invest in rolex 2 Link to post Share on other sites More sharing options...
Throttle2 Supersonic July 20, 2017 Share July 20, 2017 You shld ask ts to invest in rolex Link to post Share on other sites More sharing options...
Pinobii Hypersonic July 20, 2017 Share July 20, 2017 (edited) I am sorry to said that parking cash in bank is an unwise way of saving money. Bank interest rates won't beat inflation rates. If we really need money for rainy days. Eg. If we are fortunate already have some overseas property. We can just sell off one unit or some to get cash. Again I need to apologize. Boleh land is totally different from China. With their open policy. The whole country is growing fast. And I had went to Haikou to see for myself. Haikou is growing rapidly. That's why we don't even think of investing in boleh land. To be blunt, the property prices in china has already gone up many times especially in touristy hainan, perhaps haikou is still not too bad as compared to sanya thats all If there was a good time to buy, that has past 2008/2009 was the best as other bros have pointed out, 50k is not alot in today's context U need to set aside a sum of monthly for rainy days, say your monthly income is 5.5k, multiply that by 12 months, thats about 66k, a safe sum to keep in float Edited July 20, 2017 by Pinobii 1 Link to post Share on other sites More sharing options...
Evillusion Supersonic July 20, 2017 Share July 20, 2017 To be blunt, the property prices in china has already gone up many times especially in touristy hainan, perhaps haikou is still not too bad as compared to sanya thats all If there was a good time to buy, that has past 2008/2009 was the best I didnt want to comment earlier coz your wife should be able to tell u all this since she is a local i can tell u have very keen interest, as other bros have pointed out, 50k is not alot in today's context U need to set aside a sum of monthly for rainy days, say your monthly income is 5.5k, multiply that by 12 months, thats about 66k, a safe sum to keep in float i buy things without taking into account my wife's salary (if working). Bought my flat and cars that way! If need to dip into her savings or need her to work to cover the costs i will never commit. 1 piece of advice for ts......dont be a slave to our needs and want. 1 Link to post Share on other sites More sharing options...
Ec_2008 1st Gear July 20, 2017 Author Share July 20, 2017 Thanks all for the input. We knew $50k is not a lot of money. In fact this $50k will be used for the down payment of our new BTO Bedok flat if we decided to continue with the transaction. (Invest in a mature estate with mall beside and mrt just opposite will ensure capital gain) This is what I see the next 10-20 years is not a problem. Sg as a regional financial hub will continue import ft. Otherwise, this $50k will be invested in a small apartment in Haikou(if we decided not to buy the Bedok flat) and we will work our way up. (Hopefully we can get a tenant and he/she is paying our mortgage loan for us.) From our situation as of now. Saving another $50k will take us less than two years. As I mentioned in earlier post, me and wife depend on a single salary. Our other salary are 100% save up. But putting the money in bank is unwise. Therefore we think of investment. We don't like bonds,funds,stocks etc as the risk are much higher than investing in property. By the way the 10 year cycle may come any time. Even if after we invested our money and 10 year cycle came. Our have another half of our salary to service the mortgage loan. Yes, we might lost our job. I think getting a $3k job in sg is not a problem. (Eg. Be a bus driver,drive grab etc) I worked as taxi driver before. Taking home $3k after minus off all expenses like car rental and fuel is not a big problem. 1 Link to post Share on other sites More sharing options...
Pinobii Hypersonic July 20, 2017 Share July 20, 2017 A chance to get another bedok bto may not come by, if i were u, i will grab it n not let go 4 Link to post Share on other sites More sharing options...
Enye Hypersonic July 20, 2017 Share July 20, 2017 A chance to get another bedok bto may not come by, if i were u, i will grab it n not let gochief ah... bedok beacon leh every few mins listen to music from the mrt trains for 18 hours a day? ah gong give free i also must consider Link to post Share on other sites More sharing options...
Ec_2008 1st Gear July 20, 2017 Author Share July 20, 2017 To be blunt, the property prices in china has already gone up many times especially in touristy hainan, perhaps haikou is still not too bad as compared to sanya thats all If there was a good time to buy, that has past 2008/2009 was the best as other bros have pointed out, 50k is not alot in today's context U need to set aside a sum of monthly for rainy days, say your monthly income is 5.5k, multiply that by 12 months, thats about 66k, a safe sum to keep in float Yes, property price in Haikou has already gone up a lot as compare to 10 years ago. Will the price remain the same for the next 10 years? The answer is no. Property prices all over the world will continue to go up. Of course there are some down turn here and there. But it is an upward trend overall. I just quote some example. When my parent first bought their 3 room hdb flat in geylang. It only cost them $13k. And we sold it for $100k. After 20 plus year. Than we move to woodlands for 5 room flat. I am the sole owner of this flat as my parents don't wish to pay hdb levy. We got the flat for $190k. One of my friend said i siao. Bought a $190k 5 room in woodlands. Look at the price now. This flat going for at least $400k now. It's not a lot. Just 100% capital gain. So the story is, if u think the price is very high and don't buy. Take a look at the price again after 10 years. U will regrets of not buying. Property price will not drop. It will appreciate. 1 Link to post Share on other sites More sharing options...
Ec_2008 1st Gear July 20, 2017 Author Share July 20, 2017 A chance to get another bedok bto may not come by, if i were u, i will grab it n not let goThanks pinobii. Indeed it was very lucky for us to be able to select a flat there. We will consider very carefully to go with the deal or not. Link to post Share on other sites More sharing options...
Throttle2 Supersonic July 20, 2017 Share July 20, 2017 Huat ah Huat ah. Huat ah. Link to post Share on other sites More sharing options...
Ec_2008 1st Gear July 20, 2017 Author Share July 20, 2017 chief ah... bedok beacon leh every few mins listen to music from the mrt trains for 18 hours a day? ah gong give free i also must consider ð¬ð Yes, it's Bedok Beacon. We are taking the middle block. So all noises are filter away by the first block that face the road and mrt track. Link to post Share on other sites More sharing options...
Ec_2008 1st Gear July 20, 2017 Author Share July 20, 2017 i buy things without taking into account my wife's salary (if working). Bought my flat and cars that way! If need to dip into her savings or need her to work to cover the costs i will never commit. 1 piece of advice for ts......dont be a slave to our needs and want. Thanks for advice. We are fortunate to be able to save some money. Instead of letting it park inside bank and lose the value due to inflation. We decided to invest. We don't buy liabilities. We want assets. Of course by investing in another property, it may become our liabilities. But it may also become our assets also. I hope it's the latter way. Link to post Share on other sites More sharing options...
Ec_2008 1st Gear July 20, 2017 Author Share July 20, 2017 Thanks for advice. We are fortunate to be able to save some money. Instead of letting it park inside bank and lose the value due to inflation. We decided to invest. We don't buy liabilities. We want assets. Of course by investing in another property, it may become our liabilities. But it may also become our assets also. I hope it's the latter way. We don't buy liabilities is bull shxt. We try our best to minimize our liabilities. Link to post Share on other sites More sharing options...
Showster Twincharged July 20, 2017 Share July 20, 2017 If don't like to lock in CPF, can pay up your house first. Then use CPF to buy another local property. Link to post Share on other sites More sharing options...
Kezg1 5th Gear July 20, 2017 Share July 20, 2017 Hi all, Needed some advices as me and my wife couldn't decide which way to go. I shall tell my story in point form. 1. Currently living in a 5 room flat in woodlands. 2. Bank loan left 8 years to clear about $52K. 3. Applied for a 4 room BTO flat and was lucky enough to have slected a flat next to Bedok Mall and opposite Bedok MRT. 4. We had paid the the $2k option fee. 5. Pending to pay $52k(10% downpayment) + $15k(3% stamp fee). These 13% going to cost us about $67K. 6. We have $50k cash on hand. Another $15k from my wife CPF. 7. Wife just became PR 2 years ago. Therefore her CPF OA was little. 8. My CPF OA was used to service the bank loan of our current flat. 9. The amount was just enough to service the monthly loan. 10. New BTO flat in Bedok TOP 2021. 11. Selling our current Woodlands flat in 2021 need to pay HDB $50k levy. 12. Expected bank loan left around $30k in 2021. 13. I am using a safe amount to calculate. Let's say we only managed to sell our Woodlands flat for $400k in 2021. Minus levy and leftover bank loan. we can get back $320k from our Woodlands flat. 14. I knew out of the $320k that i get back. About half need to goes back to my CPF OA. But these money that went back to CPF OA will be used to pay for our New Bedok flat in 2021. 15. New flat left $470k after the downpayment. HDB able to grant us about $150k loan. 16. Therefore we have no problem for the new flat. We only need to save another $50k - $70k to renovate our new flat in 2021. Option 1 1. Thinking of investing our $50k cash on hand on oversea property. Wife is from china Hainan Dao. 2. We are thinking of buying a small condo unit about 40 square meter that cost about 400k - 500k RMB. 3. Why small unit? We only have $50k SGD on hand. Plus small unit maybe easier to rent out to single professional. 4. Downpayment needed about 30%. Therefore downpayment for an average 40 square meter condo unit about 120k - 150k RMB which is about $24k - $30k SGD. Option 2 1. Shall we go ahead with the Bedok BTO flat? (We like the location very much as it is next to Bedok Mall and opposite Bedok MRT). Capital gain from the new flat will be much better as compare to other flat that is not near to mall and mrt. OPtion 3 1. Apply for another 4 room BTO in other location which cost around 280K. I believe after selling our current 5 room flat in Woodlands. We should have enough cash for other investment. Hope that the expert here will give us some advises. Thanks in advance! iirc...whatever the profit margin from your selling....50% cash have to be put into the new buying unit price.. 1 Link to post Share on other sites More sharing options...
Ec_2008 1st Gear July 20, 2017 Author Share July 20, 2017 If don't like to lock in CPF, can pay up your house first. Then use CPF to buy another local property. We don't like our money to be locked inside CPF. We can only own 1 HDB flat. With our status now, we don't dream of buying private. Link to post Share on other sites More sharing options...
Angcheek Hypersonic July 20, 2017 Share July 20, 2017 We don't like our money to be locked inside CPF. We can only own 1 HDB flat. With our status now, we don't dream of buying private. thats a wise choice ↡ Advertisement 3 Link to post Share on other sites More sharing options...
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