Espada (D9, Freehold, Novelty Orchard Development Pte Ltd)

[blackjack21trader]

because my units are not completed yet. i just found a photo of the bathroom from propertyguru. share here can see the quality is above average:

http://www.propertyguru.com.sg/listi...or-sale-espada

[princess_morbucks]

because my units are not completed yet. i just found a photo of the bathroom from propertyguru. share here can see the quality is above average:

http://www.propertyguru.com.sg/listi...or-sale-espada

The first thing I saw was the agent!
She is so sweet and demure!

[dtrax]

thanks for the consoling words, good brother

Gd bro, your espada Aug rental transaction out riaox:

ESPADA ST. THOMAS WALK 09 Non-landed Properties na* 4,300 600 to 700 Aug-13
ESPADA ST. THOMAS WALK 09 Non-landed Properties na* 4,000 400 to 500 Aug-13
ESPADA ST. THOMAS WALK 09 Non-landed Properties na* 4,000 400 to 500 Aug-13

ILLUMINAIRE ON DEVONSHIRE DEVONSHIRE ROAD 09 Non-landed Properties na* 3,700 400 to 500 Aug-13
ILLUMINAIRE ON DEVONSHIRE DEVONSHIRE ROAD 09 Non-landed Properties 2 4,850 600 to 700 Aug-13
ILLUMINAIRE ON DEVONSHIRE DEVONSHIRE ROAD 09 Non-landed Properties na* 3,800 400 to 500 Aug-13
ILLUMINAIRE ON DEVONSHIRE DEVONSHIRE ROAD 09 Non-landed Properties na* 3,700 400 to 500 Aug-13

hur hur? Espada 6XXsqft vs 4XX sqft differs only by 300bucks? More transactions should be flowing in the following month

[hopeful]

The first thing I saw was the agent!
She is so sweet and demure!

hello, her photo makeover la. usually when female agents give out their namecards, i would compared the photo in the namecard with the person in front of me. big difference for ladies.

[thomastansb]

But the 600+ sqft is a studio or 2 bedroom?

Gd bro, your espada Aug rental transaction out riaox:

ESPADA ST. THOMAS WALK 09 Non-landed Properties na* 4,300 600 to 700 Aug-13
ESPADA ST. THOMAS WALK 09 Non-landed Properties na* 4,000 400 to 500 Aug-13
ESPADA ST. THOMAS WALK 09 Non-landed Properties na* 4,000 400 to 500 Aug-13

ILLUMINAIRE ON DEVONSHIRE DEVONSHIRE ROAD 09 Non-landed Properties na* 3,700 400 to 500 Aug-13
ILLUMINAIRE ON DEVONSHIRE DEVONSHIRE ROAD 09 Non-landed Properties 2 4,850 600 to 700 Aug-13
ILLUMINAIRE ON DEVONSHIRE DEVONSHIRE ROAD 09 Non-landed Properties na* 3,800 400 to 500 Aug-13
ILLUMINAIRE ON DEVONSHIRE DEVONSHIRE ROAD 09 Non-landed Properties na* 3,700 400 to 500 Aug-13

hur hur? Espada 6XXsqft vs 4XX sqft differs only by 300bucks? More transactions should be flowing in the following month

[leesg123]

677 sqft recent transaction about 1.73M

rental of 4.3k gives a gross yield of 3%

Decent? Yucks?

Gd bro, your espada Aug rental transaction out riaox:

ESPADA ST. THOMAS WALK 09 Non-landed Properties na* 4,300 600 to 700 Aug-13
ESPADA ST. THOMAS WALK 09 Non-landed Properties na* 4,000 400 to 500 Aug-13
ESPADA ST. THOMAS WALK 09 Non-landed Properties na* 4,000 400 to 500 Aug-13

ILLUMINAIRE ON DEVONSHIRE DEVONSHIRE ROAD 09 Non-landed Properties na* 3,700 400 to 500 Aug-13
ILLUMINAIRE ON DEVONSHIRE DEVONSHIRE ROAD 09 Non-landed Properties 2 4,850 600 to 700 Aug-13
ILLUMINAIRE ON DEVONSHIRE DEVONSHIRE ROAD 09 Non-landed Properties na* 3,800 400 to 500 Aug-13
ILLUMINAIRE ON DEVONSHIRE DEVONSHIRE ROAD 09 Non-landed Properties na* 3,700 400 to 500 Aug-13

hur hur? Espada 6XXsqft vs 4XX sqft differs only by 300bucks? More transactions should be flowing in the following month

[DKSG]

677 sqft recent transaction about 1.73M

rental of 4.3k gives a gross yield of 3%

Decent? Yucks?

3% sounds tough for MM.

MM attracts a relatively high % of maint fees.

DKSG

[smellyfish]

I think this way:

if buy today for investment and as 2nd property and borrow to the max, it means 50% down + 10% stamp, total outlay would be about $1.05 million,

borrowing $865,000, at 1.18% rate for a 25 yr mortgage, monthly repayment is $3,300 (and this will only going up)

after minusing off maintenance, amortized property agent fee, amortized property tax, amortized income tax for rental, i think we are looking at negative monthly cashflow.
and this will only get worse in the short to medium term.

effectively, buyers are banking purely on capital appreciation. $1.05 million out, zero income in plus a net monthly "servicing fee" while waiting for things to go up.

[thomastansb]

Wait for more rental data first. I am interested to see how those tiny 300 sqft units perform. So far, only those bigger units are rented out. No takers for tiny MM even though location is superb?

677 sqft recent transaction about 1.73M

rental of 4.3k gives a gross yield of 3%

Decent? Yucks?

[riverfish]

I think this way:

if buy today for investment and as 2nd property and borrow to the max, it means 50% down + 10% stamp, total outlay would be about $1.05 million,

borrowing $865,000, at 1.18% rate for a 25 yr mortgage, monthly repayment is $3,300 (and this will only going up)

after minusing off maintenance, amortized property agent fee, amortized property tax, amortized income tax for rental, i think we are looking at negative monthly cashflow.
and this will only get worse in the short to medium term.

effectively, buyers are banking purely on capital appreciation. $1.05 million out, zero income in plus a net monthly "servicing fee" while waiting for things to go up.

Yeah, and who is going to be the next sucker catching the ball passed on by the seller, if rental rates remain stagnant in the medium term? If the seller is going to swallow the bones together with the meat, there'll be nothing left in the bowl to offer to the next buyer.

[blackjack21trader]

I think this way:

if buy today for investment and as 2nd property and borrow to the max, it means 50% down + 10% stamp, total outlay would be about $1.05 million,

borrowing $865,000, at 1.18% rate for a 25 yr mortgage, monthly repayment is $3,300 (and this will only going up)

after minusing off maintenance, amortized property agent fee, amortized property tax, amortized income tax for rental, i think we are looking at negative monthly cashflow.
and this will only get worse in the short to medium term.

effectively, buyers are banking purely on capital appreciation. $1.05 million out, zero income in plus a net monthly "servicing fee" while waiting for things to go up.

That is correct. I bought 5 units here to protect my capital. I am not looking at rental returns. The returns is too low. Before buying the 5 units, my 2 units returned far better although I have not took over the units yet but just a gauge using S$4000 a month for one which works to be around S$18k - S$20K.

Previously, my 2 large units in CCR returned a total of more than S$30,000.

[blackjack21trader]

That is correct. I bought 5 units here to protect my capital. I am not looking at rental returns. The returns is too low. Before buying the 5 units, my 2 units returned far better although I have not took over the units yet but just a gauge using S$4000 a month for one which works to be around S$18k - S$20K.

Previously, my 2 large units in CCR returned a total of more than S$30,000.

However, the maintenance of 2 units vs the 5 units is higher and I also got to keep some spare change after selling the 2 larger units.

More work for the smaller units as now I will have 5 TA on hand instead of dealing wif 2 tenants.

[blackjack21trader]

The MM prices in CCR are also more resilient than the larger units of more than 1000sqft. The large units tend to drop like a rock

[blackjack21trader]

Clearing the larger units out of my portfolio gives me the kick because I do not need to pay any SSD for them as they were more than 10 years old liao. It is like exercising a stock option- feels great Thanks Tharman and Ah Khaw, for ur CMs

[blackjack21trader]

Ah Khaw and Tharman are such a genius that I think I will hug and kiss them if I met them in person (wink wink )

[081828]

Clearing the larger units out of my portfolio gives me the kick because I do not need to pay any SSD for them as they were more than 10 years old liao. It is like exercising a stock option- feels great Thanks Tharman and Ah Khaw, for ur CMs

Hi BJ21, you would have had to pay ABSD when you bought the five units?? Wouldn't that eat into the returns of your earlier units sold??

Just curious. Hope you can clarify. Thank you.

[leesg123]

Hi BJ21, you would have had to pay ABSD when you bought the five units?? Wouldn't that eat into the returns of your earlier units sold??

Just curious. Hope you can clarify. Thank you.

Bro bj is veryvhandsome. He got many girlfriends to hold on to the mm title. So no need absd.

[081828]

Bro bj is veryvhandsome. He got many girlfriends to hold on to the mm title. So no need absd.

ohhh....i see. very possible. let's wait to hear what BJ21 has to say...

[blackjack21trader]

Hi BJ21, you would have had to pay ABSD when you bought the five units?? Wouldn't that eat into the returns of your earlier units sold??

Just curious. Hope you can clarify. Thank you.

certainly good brother. But that is the "cost" you have to prepared to pay. Anyway, you can negotiated a lower price citing ABSD as your reason to the owners. I cut off around S$50K or more each from their asking

[blackjack21trader]

Bro bj is veryvhandsome. He got many girlfriends to hold on to the mm title. So no need absd.

I agree with good brother leesg123 that indeed I am very very handsome. But all titles are under my name only. My wife holds other titles seperated from mine after we sold off our previous 2 units which were joint tenancy

[blackjack21trader]

I agree with good brother leesg123 that indeed I am very very handsome. But all titles are under my name only. My wife holds other titles seperated from mine after we sold off our previous 2 units which were joint tenancy

my wife actually wanted to shave off a whole S$150k from one unit but we settled for around S$70k off the asking I told my wife if she shaved off so much, may affect the Espada prices there just like the stocks we hold lor.

[blackjack21trader]

my wife actually wanted to shave off a whole S$150k from one unit but we settled for around S$70k off the asking I told my wife if she shaved off so much, may affect the Espada prices there just like the stocks we hold lor.

shaved off the asking price, i mean; not the armpit hair.


Good Luck.

[blackjack21trader]

shaved off the asking price, i mean; not the armpit hair.


Good Luck.

further, with the transparency of URA data, I can roughly gauge how much each owner bought the units at. So I ka ka hoot.

[blackjack21trader]

And so, The SPIRIT OF THE LAKE so she told me,

" It is not how you sell, it is how you buy that determines the success or failure of your investment property ".

Then she winked at me twice before my wife rushed into my room and asked me,

" Who were you talking to ?"

" Myself. "

"Oic." she smiled

I smiled back.

[sherlock]

certainly good brother. But that is the "cost" you have to prepared to pay. Anyway, you can negotiated a lower price citing ABSD as your reason to the owners. I cut off around S$50K or more each from their asking

You bought 5 units from the secondary market??

[blackjack21trader]

and then hor, after my wife left the room, the SPIRIT of THE LAKE emerged from the wall and said,

" You know, you can capitalise on this ABSD chance to ask for discount. When the owner......."

Then, my wife stormed into the room and screamed at me,

" Who is this woman ?!!!!"

"What woman ?" I looked at her blankly.

She pulled the SPIRIT of THE LAKE to her and screamed,

" THIS WOMAN !!!!"

I swallowed my salivia and said ," That is Linda la, our daughter."

"oic"

Then my wife smiled and left the room.

[blackjack21trader]

You bought 5 units from the secondary market??

I refuse to answer that question.

[sherlock]

I refuse to answer that question.

certainly good brother. But that is the "cost" you have to prepared to pay. Anyway, you can negotiated a lower price citing ABSD as your reason to the owners. I cut off around S$50K or more each from their asking

U already said negotiated from the owners . Right hamdsome bro?

[blackjack21trader]

certainly good brother. But that is the "cost" you have to prepared to pay. Anyway, you can negotiated a lower price citing ABSD as your reason to the owners. I cut off around S$50K or more each from their asking

U already said negotiated from the owners . Right hamdsome bro?

i refused to answer this question, good brother .

[marktkt22]

Very good analysis of 1M+ mm investment potential. Bravo..
There is no rental gain ...except capital appreciatn

I think this way:

if buy today for investment and as 2nd property and borrow to the max, it means 50% down + 10% stamp, total outlay would be about $1.05 million,

borrowing $865,000, at 1.18% rate for a 25 yr mortgage, monthly repayment is $3,300 (and this will only going up)

after minusing off maintenance, amortized property agent fee, amortized property tax, amortized income tax for rental, i think we are looking at negative monthly cashflow.
and this will only get worse in the short to medium term.

effectively, buyers are banking purely on capital appreciation. $1.05 million out, zero income in plus a net monthly "servicing fee" while waiting for things to go up.