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Thread: My Celestial Prediction 2016 for my beloved bro and sis here :

  1. #61
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    $1.6m loan based on 7-8k salary?

    Quote Originally Posted by yowetan View Post
    Yes. My wife and myself are senior bank officers in bank. She works in local bank whereas I am with the other foreign bank. Our office is around ARC there. Our combined salary is around 7-8k and we (myself, wife, 2 kids, 1 bro-in-law, parents, parents-in-law and a dog) all stays under one roof. Currently outstanding around 1.6mil+, recently just renewed the mortgage loan with SCB at 1.58% fixed (last july 2015) and thereafter will be 1.25%+sibor (1mth). Please advise.

  2. #62
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    Quote Originally Posted by yowetan View Post
    Yes. My wife and myself are senior bank officers in bank. She works in local bank whereas I am with the other foreign bank. Our office is around ARC there. Our combined salary is around 7-8k and we (myself, wife, 2 kids, 1 bro-in-law, parents, parents-in-law and a dog) all stays under one roof. Currently outstanding around 1.6mil+, recently just renewed the mortgage loan with SCB at 1.58% fixed (last july 2015) and thereafter will be 1.25%+sibor (1mth). Please advise.
    For ur salary range, how did u managed to secure a loan of over $1.6million ?

    The thing is, ur combined salary range is ONLY suitable for HDB or Executive Condo investment from my investment gut. I would not take up the loan even if they offer it to me in ur income status.

    But no use crying over spill milk or scold u la....What u can do now is to salvage the situation u r in:

    1) "TONG"....meaning to endure by cutting down as much expenses as possible so as not to damage ur standing with the banks. Do not miss any payment because once u missed the first, I pray for the best of u. remember...PAY THE BANKS FIRST, THE REST LATER. once u damaged ur reputation with the banks, next time very hard or impossible for u to get a loan liao

    2) "TONG" until the SSD is nullified or at the fourth year when it is around 4% so that it will be minimal damage to ur capital. I believe next year should be your fourth year and u have to bite your lips and give this tax to the IRA so that u can unlock urself. ( SSD should be around S$80,000++ assuming u bought a S$2mil ++ unit from ur loan status u provided here....a bit expensive to pay for a lesson but it is worthwhile if u can get urself out of this mess. )

    3) If you sell it now, or the banks move in to take over because of missed payments, you will be taken many steps back in ur path towards financial freedom !

    4) After holding it till the final fifth year, use that proceeds to buy a decent EC near city area so that ur 5 family members can stay together comfortably rather than squeezing into a 2 bedder unit in Ulu Pandan.

    Hope that helps. Do not hesitate to share here if u have any further queries , good bro
    Last edited by blackjack21trader; 05-02-16 at 17:54.

  3. #63
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    minority is quiet these few days in this thread n the other thread on watertown.
    maybe he is busy with cny preparation or maybe he has decided to calm down as part of cny resolutions...



    Quote Originally Posted by teddybear View Post
    He will tell you that force-buy your property and pay you a pittance is alright...

  4. #64
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    Quote Originally Posted by yowetan View Post
    Yes. My wife and myself are senior bank officers in bank. She works in local bank whereas I am with the other foreign bank. Our office is around ARC there. Our combined salary is around 7-8k and we (myself, wife, 2 kids, 1 bro-in-law, parents, parents-in-law and a dog) all stays under one roof. Currently outstanding around 1.6mil+, recently just renewed the mortgage loan with SCB at 1.58% fixed (last july 2015) and thereafter will be 1.25%+sibor (1mth). Please advise.
    Quote Originally Posted by blackjack21trader View Post
    For ur salary range, how did u managed to secure a loan of over $1.6million ?

    The thing is, ur combined salary range is ONLY suitable for HDB or Executive Condo investment from my investment gut. I would not take up the loan even if they offer it to me in ur income status.

    But no use crying over spill milk or scold u la....What u can do now is to salvage the situation u r in:

    1) "TONG"....meaning to endure by cutting down as much expenses as possible so as not to damage ur standing with the banks. Do not miss any payment because once u missed the first, I pray for the best of u. remember...PAY THE BANKS FIRST, THE REST LATER. once u damaged ur reputation with the banks, next time very hard or impossible for u to get a loan liao

    2) "TONG" until the SSD is nullified or at the fourth year when it is around 4% so that it will be minimal damage to ur capital. I believe next year should be your fourth year and u have to bite your lips and give this tax to the IRA so that u can unlock urself. ( SSD should be around S$80,000++ assuming u bought a S$2mil ++ unit from ur loan status u provided here....a bit expensive to pay for a lesson but it is worthwhile if u can get urself out of this mess. )

    3) If you sell it now, or the banks move in to take over because of missed payments, you will be taken many steps back in ur path towards financial freedom !

    4) After holding it till the final fifth year, use that proceeds to buy a decent EC near city area so that ur 5 family members can stay together comfortably rather than squeezing into a 2 bedder unit in Ulu Pandan.

    Hope that helps. Do not hesitate to share here if u have any further queries , good bro
    One after thought on this bro yowetan, ur wife and u should separate your salaries into 2 bank accounts to service the loan. What do I mean by that ?

    1) Use just one of ur salaries ( the bigger one to service in case interest rates creep up) to service the loan, I believe one salary should be able to cover the loan payments under the current conditions.

    2) Separate the other income into another bank account and use it solely for tracking ur expenses.

    In this way, u will be able to id which items u can cut in ur household like cars, credit cards, etc...and not to damage ur loan servicing at the same time.

    The important thing is to FOCUS on your jobs now, both of you and try to do a good job so that ur banks..touch wood.. would not find an excuse to retrench u

    Good Luck, bro.
    Last edited by blackjack21trader; 05-02-16 at 18:14.

  5. #65
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    sorry guys, have to digress for a moment for bro yowetan's crisis.

    bro yowetan, u can download this booklet from my GDrive using this link.

    https://drive.google.com/file/d/0B8p...ew?usp=sharing

    Inside the booklet, it details how to go about cutting ur expenses in ur household....I will leave the link public for a week, as it is meant for my followers.

    All the best

  6. #66
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    Title: The Price Arbitrage of Singapore Government Public Housing: HDB (Part 10 )
    When Fear is Maximum, what do you do ? Yes, you buy !

    When fear is maximum, with all the bad news abound, and the public generally worried about tomorrow; you should be brave and start to look for your next asset. How so ?

    During rosy times, first the sellers would not want to bargain. Secondly, they will keep the treasures and sell you the durians. That is, they will unload the bad assets to you. This behavior will apply to property developers as well, as they unload all the bad facing no view units to you first.

    On the other hand, during scary times, the sellers will be willing to bargain with you and will even try to unload all their treasures and gems into the market. You can pretend to walk away from the bargaining table, and the developers will throw in discounts, gifts and even cars for you !

    This is like someone else had already done the homework for you, and you merely transfer the nice ones from them to help them safe keep it.
    Of course, one go for a lower risk investment during such times, as you never really know what is going to happen next. Only thing you can be sure of is, the asset you bought will be cheaper and better .

    Why Singapore HDB or EC ? Is it not obvious during past occasions, the government is able to steer clear of all the deep rocks in the sea of turbulence ? Tell me, with all the scholars and top brains on your side, what is there to fear ?

    This is an unbeatable track record. And during stormy time, get yourselves quick on board the sturdiest ship !
    Do you wait for the economic turn-a-corner signal like everyone else ? Sure you can, but you will end up with a more expensive asset because the sellers will then start to hang themselves up upon seeing the same signal as you. You know...吊起来卖。

    ( To be continued )

  7. #67
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    Really missed your wise words since 2013.

  8. #68
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    Quote Originally Posted by Kelonguni View Post
    Really missed your wise words since 2013.
    Thanks for ur kind thoughts, good bro ...appreciate

  9. #69
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    Quote Originally Posted by blackjack21trader View Post
    sorry guys, have to digress for a moment for bro yowetan's crisis.

    bro yowetan, u can download this booklet from my GDrive using this link.

    https://drive.google.com/file/d/0B8p...ew?usp=sharing

    Inside the booklet, it details how to go about cutting ur expenses in ur household....I will leave the link public for a week, as it is meant for my followers.

    All the best

    Thank you brother BJ21. Can I PM you? Thanks.

  10. #70
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    Quote Originally Posted by yowetan View Post
    Thank you brother BJ21. Can I PM you? Thanks.
    Sure email me : [email protected] because I had deactivated my pm

  11. #71
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    Have not been reading this forum for years! Cant believe u guys are still at giving advise and entertaining these queries.

    I would have thought Mr market would have settled this crisis long ago

  12. #72
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    Quote Originally Posted by JohnTan View Post
    Have not been reading this forum for years! Cant believe u guys are still at giving advise and entertaining these queries.

    I would have thought Mr market would have settled this crisis long ago
    bro, when a bro in trouble we help each other here this forum is our brotherhood...brotherhood of HUAT TOGETHER!

  13. #73
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    Luke 6:38 - "Do not judge, and you will not be judged. Do not condemn, and you will not be condemned. Forgive, and you will be forgiven. Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you."

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    Quote Originally Posted by Arcachon View Post
    Luke 6:38 - "Do not judge, and you will not be judged. Do not condemn, and you will not be condemned. Forgive, and you will be forgiven. Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you."
    how wise

  15. #75
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    HAPPY NEW YEAR TO ALL MY BROTHERS AND SISTERS HERE ! I WILL CONTINUE MY ARTICLE AFTER NEW year as busy visiting now

  16. #76
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    Quote Originally Posted by yowetan View Post
    Yes. My wife and myself are senior bank officers in bank. She works in local bank whereas I am with the other foreign bank. Our office is around ARC there. Our combined salary is around 7-8k and we (myself, wife, 2 kids, 1 bro-in-law, parents, parents-in-law and a dog) all stays under one roof. Currently outstanding around 1.6mil+, recently just renewed the mortgage loan with SCB at 1.58% fixed (last july 2015) and thereafter will be 1.25%+sibor (1mth). Please advise.

    somethings dont add up here ............

    regardless which dept within the bank you work, as a senior manager in a local or foreign bank, each should command at least $8 - 10k.

    How can 2 snr managers combine only earn 8k a month ?

  17. #77
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    Quote Originally Posted by proud owner View Post
    somethings dont add up here ............

    regardless which dept within the bank you work, as a senior manager in a local or foreign bank, each should command at least $8 - 10k.

    How can 2 snr managers combine only earn 8k a month ?
    I am senior bank officer, not manager. My salary is around 4k++ my wife is around 3k++.

  18. #78
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    Quote Originally Posted by yowetan View Post
    I am senior bank officer, not manager. My salary is around 4k++ my wife is around 3k++.

    still too low for the rank.

    a fresh grad starts at about 2.5 to 2.8k

    may i ask what dept do you both work in ?

    i have been in banking for 20+yrs i am very familiar with the staff salaries

  19. #79
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    Quote Originally Posted by proud owner View Post
    still too low for the rank.

    a fresh grad starts at about 2.5 to 2.8k

    may i ask what dept do you both work in ?

    i have been in banking for 20+yrs i am very familiar with the staff salaries
    I am in Liability Ops – Corporate Actions. You have better opportunity for me or/and my wife?

  20. #80
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    Quote Originally Posted by yowetan View Post
    I am in Liability Ops – Corporate Actions. You have better opportunity for me or/and my wife?
    do you mean "operations", or in simpler terms " back office"?

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    Quote Originally Posted by proud owner View Post
    do you mean "operations", or in simpler terms " back office"?
    Yes. Back office.

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    Quote Originally Posted by proud owner View Post
    somethings dont add up here ............

    regardless which dept within the bank you work, as a senior manager in a local or foreign bank, each should command at least $8 - 10k.

    How can 2 snr managers combine only earn 8k a month ?
    Many ppl thought those with fancy titles in banks earn a lot. Actually many so called "VP" are just salespeople la.

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    Be patient ! Wahlaueh bro...new years just over la...give me sometime ok...I am working on it..u wun be disappointed in my next installment ! I try to post by this weekend...thanks for ur email.

    the next installment is the MOTHER of all my articles....it will tell u the EXACT STEPS to beat all the measures & which area in Singapore to invest..right down to the lokang !!! Sweebo?

  24. #84
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    swee! but then hor, dun recommend to buy hdb or ec horr.... cannot buy another one leh.


    Quote Originally Posted by blackjack21trader View Post
    Be patient ! Wahlaueh bro...new years just over la...give me sometime ok...I am working on it..u wun be disappointed in my next installment ! I try to post by this weekend...thanks for ur email.

    the next installment is the MOTHER of all my articles....it will tell u the EXACT STEPS to beat all the measures & which area in Singapore to invest..right down to the lokang !!! Sweebo?

  25. #85
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    Quote Originally Posted by Ilikeu View Post
    swee! but then hor, dun recommend to buy hdb or ec horr.... cannot buy another one leh.
    sure i will focus on those locations with major developments coming up and they are applicable to HDB or BTO too :tu

  26. #86
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    Title: The Price Arbitrage of Singapore Government Public Housing: HDB (Part 11 )

    What I am going to share with you my brothers and sisters, is based on a true account. Although I shall change the name of the person for confidentiality except my uncle's.

    I recalled the times when I went to Italy with my late uncle Spencer,in a small town called Masano and we met a very wealthy man there called Mr Diego. Nothing special about the town because it was not one of the major cities in Italy. That time Italy was still using the old lira until subsequent inflation forced her to adopt the Euro. But this man, after conversion of his wealth in lira to USD, runs into the billions.

    At Diego's mansion in Masano, there was a beautiful fountain at the front entrance of his house .. I remember that night, I secretly threw a Singaporean coin into his fountain and wished that he could reveal some secrets of his success at the dinner table. And I hope that if he read this, he can go and check now if the coin is still there LOL

    Although I was a very young man that time and still a student at NUS, I was very keen about how the rich made their wealth..you see, I was not impressed by those rich featured in media ( not that I am rich myself ) , but rather curious about those wealthy people who kept a low profile and yet are very well known in the private circles to be wealthy..the shadow ones, so to speak.

    I figured that those in public would never share the real secret of their success..even if they did, they will tell you the usual script of you know...hard work and blood and sweat which is really some kind of bullshit to me anyway.

    I listen attentively when Spencer asked Diego when was the right time to enter the property market for Diego is one of the wealthiest landlord in Europe partly also due to his Royalty linkage.But what he told us gave me a big shock because he said almost in a matter-of-factly,

    “ There is no right time to enter the market...every time is a good time...”

    “...as long as you can afford it ! “

    He must have sensed a young innocent man's disbelief, so he continued to explain further,

    “ The key to property investment is holding power and nothing else...as long as you like it and can afford to hold it through bad times or good times, just buy it. If you think you cannot afford it, stay out of it ! “

    I thought I understood what he said that time, but it was only many years later when his logic was put to the test in my own investment journey, that I fully realized the real meaning of that conversation. As to what is the realization from this conversation and my own first hand experiences, I will share with you guys soon.

    ( To be continued )

  27. #87
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    Hi, need advise here. Newbie in investment market. If you have a 1 Mil, which area would you invest in a 1 or 2 bedroom property?? Looking at D9/10 FH.

    Thanks
    *)

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