"Buy properties with little cash? It's too good to be true." - Straits Times (8 Nov 2020)

[Showster]

1 hour ago, Spidey10 said:

caveat emptor....if i recall my law studies...hahhahha

really lah….only certain % of the population can do this....maybe husband and wife working with combine income of 20k pm.

I lan lan listen, and the agent propose to me and say i should be able to do this plan.

Then i told him, my age now 50, debt free, and you want me to commit to 2 houses and owe the bank 1.2 mio? and pay high instalment for the next 15 years!! why if tomorrow i lose my job?

hahahha….he says cannot one lah…

really dun get into such a situation, live within yr means....and sleep well. at my age, i want to sleep well every night, not need to think about where the f$@% this month instalment is going to come from if i don't have tenant. Pay for 2 loans leh, dun play play....work 24 hrs also cannot meet!

yes, can be done, but won't sleep well and from 0 gearing to high gearing - is this the life you want?.....if I am in my 30's yes, i can chiong, but how many in their 30's have paid off their HDB? or have cash lying around (dun include those from father or mother lah).. ? go figure...

Nobody would ask you one shot buy two. Or rather, a careful agent would not advise that straightaway.

Selling is to decouple first. Buy one private first.

When really comfortable then buy the second lor.

Most important difference is private has chance to enbloc some time down the road, HDB Govt already tell you prepare for VERS.

Edited November 11, 2020 by Showster

[Spidey10]

23 minutes ago, Showster said:

Nobody would ask you one shot buy two. Or rather, a careful agent would not advise that straightaway.

Selling is to decouple first. Buy one private first.

When really comfortable then buy the second lor.

Most important difference is private has chance to enbloc some time down the road, HDB Govt already tell you prepare for VERS.

buy one, then where is the rental income to pay for 2? that's the plan they are selling then and now I believe.

as i said, if i am in my 30's and earning 5 digit, then ok, still have time.....50's...go to sleep better.

[Spidey10]

1 hour ago, Kopites said:

50 yo can only invest in toto with pool once a while. Like me..

 

 i like....who know tio and buy 5 one go...

[Throttle2]

1 hour ago, noobcarbuyer said:

Agreed. 

Now the trend is to live below your means. 

Combined income of 20k SGD per month is nothing fantastic these days. What with even Exec Condo income limit being $16k per month. 

Best feeling in life is having a fully paid off roof over your head. 

Yes, combined income of $20k is probably the slightly above average today.  

Times hv changed

😅😎

[Wt_know]

1 hour ago, Showster said:

Nobody would ask you one shot buy two. Or rather, a careful agent would not advise that straightaway.

Selling is to decouple first. Buy one private first.

When really comfortable then buy the second lor.

Most important difference is private has chance to enbloc some time down the road, HDB Govt already tell you prepare for VERS.

the whole idea of sell 1 buy 2 is to get rental passive income chop chop curry pop ... 

if sell 1 buy 1 and then wait see wait see 2-3 years feel comfortable then buy 2nd unit?  

what if ah gong remove ABSD for sinkie to buy 2nd unit, ownself fk ownself?

even ah gong don't remove ABSD .. the whole notion is to jump into "property investing" when sell 1 buy 2

if sell 1 buy 1 that is upgrading and take on more liability and not asset

 

Edited November 11, 2020 by Wt_know

[Showster]

37 minutes ago, Spidey10 said:

buy one, then where is the rental income to pay for 2? that's the plan they are selling then and now I believe.

as i said, if i am in my 30's and earning 5 digit, then ok, still have time.....50's...go to sleep better.

Ok lah if have a million dollar HDB then can. Fully pay off one, then loan for another.

If HDB less than half a million, a bit hard to straightaway go for rental.

[Showster]

Just now, Wt_know said:

the whole idea of sell 1 buy 2 is to get rental chop chop curry pop ... 

if sell 1 buy 1 and then wait wait see see 2-3 years comfortable then buy 2nd unit?  

what if ah gong remove ABSD for sinkie to buy 2nd unit, ownself fk ownself?

Sell 1 million, buy 2 x 1 million, fully pay off one can bo?

[Wt_know]

11 minutes ago, Showster said:

Sell 1 million, buy 2 x 1 million, fully pay off one can bo?

no need $1M ... based on countless youtube video step-by-step to SUCCESS ... 

all $500K-$700K HDB can sure meet sell 1 buy 2 formula ... just take another $1.2M loan

with super duper low interest for the next 35 years (agent *hint* *hint*) ... sure MSW bao jiak !

even without positive cashflow and every month need to top up $1,000 ($500 x 2 pax) 

that's called "compulsive saving" (another koyok) ... after 35 years you got 2 x CONDO for FREE ... huat until siao!

all throw robert kiyosaki book ... use other people money (bank loan and tenant rental) to make your money ... 

Edited November 11, 2020 by Wt_know

[Throttle2]

20 minutes ago, Wt_know said:

no need $1M ... based on countless youtube video step-by-step to SUCCESS ... 

all $500K-$700K HDB can sure meet sell 1 buy 2 formula ... just take another $1.2M loan

with super duper low interest for the next 35 years (agent *hint* *hint*) ... sure MSW bao jiak !

even without positive cashflow and every month need to top up $1,000 ($500 x 2 pax) 

that's called "compulsive saving" (another koyok) ... after 35 years you got 2 x CONDO for FREE ... huat until siao!

all throw robert kiyosaki book ... use other people money (bank loan and tenant rental) to make your money ... 

To all those people who do that, i hope their next 35 yrs is smooth sailing 100%.  

Becos thats what this formula requires.  100% smooth sailing. 

In reality, next 5 yrs also cannot tell if smooth sailing or not.

Huat ah!

Edited November 11, 2020 by Throttle2

[Spidey10]

12 minutes ago, Throttle2 said:

To all those people who do that, i hope their next 35 yrs is smooth sailing 100%.  

Becos thats what this formula requires.  100% smooth sailing. 

In reality, next 5 yrs also cannot tell if smooth sailing or not.

Huat ah!

exactly....lose job...how? no tenant how? emergency, business no good how? if instalment 3k a month, suddenly no income, die die still need 3k ler…...

[Throttle2]

2 minutes ago, Spidey10 said:

exactly....lose job...how? no tenant how? emergency, business no good how? if instalment 3k a month, suddenly no income, die die still need 3k ler…...

Dont worry, look for the guru who taught you the idea, he SURELY can HELP you solve one.....

 

Edited November 11, 2020 by Throttle2

[Spidey10]

4 minutes ago, Throttle2 said:

Dont worry, look for the guru who taught you the idea, he SURELY can HELP you solve one.....

 

no ler...i didn't follow the guru idea....i followed my dad's advise.....he asked me to sleep well and be happy 

 

[Wt_know]

16 minutes ago, Spidey10 said:

no ler...i didn't follow the guru idea....i followed my dad's advise.....he asked me to sleep well and be happy 

 

oops ... that's your POOR dad saying ... go look for RICH dad advice ... hahaha

[Beregond]

its very easy to jump in and convince  ppl when the numbers look good, but usually when u see the good number and u jump in, its too late.

when there is easy money , agent dun even need to convince buyers

like 1 of my property, first hand off the dev is 400k i brought 600k, cos i want that particular location.  ( good location that is almost sure to make money is alway reserve for developer regular. )

got 1 unit at the entrance go for 1m. yeah, buy 400 sell 1m, within 1 year. a few other went as high as 700 + , but it went through alot of hands, within 3 years can change hand 3 time. but its still rising. 

looking at all the figure, u cannot fail to make money if u buy one (for use , investment /rent ). quite  alot of ppl with no knowledge no use for the property at all jump in.

but who knows within 3-4 years, similar property by the same developer pop up alone that stretch offering similar or even better deals(nowsaday u will be surprise how fast they can build) 

by the time, the 4th building come up. the 3rd building still got unsold first hand unit. this pull down all the property price including my side, ppl can buy first hand new property for 400k at the 4th block (within 5-10 min walking distance), why they want buy my used 1 at 700k?

thats what happen to alot of my neighbours during first few years good time, they are shouting the rent at easily 6-7k per mth. now drop to 3k per mth. a few of them buy 700k, want to let go now, ppl offering 400k.

ppl alway see/tell and boost the good stuff, bad stuff all keep quiet, no 1 tell u 1, till u kenna yourself

[Wt_know]

5 minutes ago, Beregond said:

ppl alway see/tell and boost the good stuff, bad stuff all keep quiet, no 1 tell u 1, till u kenna yourself

of course what ... when you go out the house ... must show the brave face .... reach home ... squeeze balls ... 

ownself screw up ownself ... you will spend years licking wound ...  

but GURU laughing to bank liao better don't call unless you got $$ to buy another unit

Edited November 11, 2020 by Wt_know

[Wt_know]

just to put the record straight 

every formula work ... does not mean it didn't work ... even the genius iQ plan work

but you need the sun, moon, star line up swee swee and 100% sailing as T2 said

the sun must be sunny (your job is rock solid), the moon must be bright (low interest continue eternity) and the star must be shining (rental income keep coming) 

so .. go for it!

but why do other people can buy 2nd and 3rd property? because their household income is > $50K per month sup sup water

they have build up a "war chest" ready to fight not just bazooka but a tank ... LOL

Edited November 11, 2020 by Wt_know

[Showster]

22 minutes ago, Wt_know said:

just to put the record straight 

every formula work ... does not mean it didn't work ... even the genius iQ plan work

but you need the sun, moon, star line up swee swee and 100% sailing as T2 said

the sun must be sunny (your job is rock solid), the moon must be bright (low interest continue eternity) and the star must be shining (rental income keep coming) 

so .. go for it!

but why do other people can buy 2nd and 3rd property? because their household income is > $50K per month sup sup water

they have build up a "war chest" ready to fight not just bazooka but a tank ... LOL

Actually a lot of 50k per month owners can’t be bothered to do this.

They earn so much why will be bothered to nett gain 20K to 50K a year? Rental income already overtax them.

Entry level private is really a game structured for those 10-20K a month households. Below that a bit risky. That is the nice level that do not kenna too much tax.

No tenants? I have not seen that situation for 10 years. Even Covid-19 only strengthens rental demand for the category I look at.

Like that still cannot convince one to buy a property to be paid off in 30-35 years for 90+ years’ use, nothing will.

In that case, hold cash or choose your own investments bah. But do remember to benchmark 11.11, 2020. Come back 5 years later and see what you gained / lost. 

Make your own decisions, steer your own ship, and gain / loss is yours. For me, it’s just boring chit chat.
 

Edited November 11, 2020 by Showster

[Throttle2]

35 minutes ago, Wt_know said:

of course what ... when you go out the house ... must show the brave face .... reach home ... squeeze balls ... 

ownself screw up ownself ... you will spend years licking wound ...  

but GURU laughing to bank liao better don't call unless you got $$ to buy another unit

But i very honest leh, all these years, got good got bad i also share.   

Like when i make hundreds of thousands i say.  I lost hundreds of thousands i also say.

like i kena retrenched in 2015 i say, i smoke cigars wear solid gold rolex i also say.

you should know very well.

i very lao seet one

 

Edited November 11, 2020 by Throttle2