View Full Version : Buying now or later?
Hi guys, just wanted to get some general opinons. If one is currently staying in a hdb and waiting for about 4 yrs to fulfil MOP before he can get a pte pty. Would it make more sense to just wait for MOP to be over before getting a pte pty or get a pte pty using say parents' name 1st and do a transfer to own name upon end of MOP.
1st option can be bad cos by end of MOP, prices may have soared much compared to now. 2nd option also has its drawbacks as in he would have to pay for the stamp duties to transfer the pty back to his name from his parents' after MOP.
Asking for my good friend. Pls advise.:confused:
I suppose you are asking this because of the 30% downpayment required for a second property mortgage ? hence, using you parents name to circumvent this.
If you use your parents name, it would depend whether you parents quality for a 80% loan. If your parents are loaded, can use their properties, stocks, FD etc to secure the loan. But if they are older, nearing retirement age, limited leverage for securing loan then this may not be an option. (go talk to your banker)
As for waiting it out, i think this would be a personal decision. You can argue that prices might chiong through the roof in a couple of years (but seriously, if it does, the economy is in trouble). But one can also argue the other way around that price may have corrected by then, you may have struck a big promotion or 4D and money would no longer be an issue...
Buy within your means if it's for own stay. If you are buying for investment then you would have to do your own risk management assessment.
My two cents.
I suppose you are asking this because of the 30% downpayment required for a second property mortgage ? hence, using you parents name to circumvent this.
If you use your parents name, it would depend whether you parents quality for a 80% loan. If your parents are loaded, can use their properties, stocks, FD etc to secure the loan. But if they are older, nearing retirement age, limited leverage for securing loan then this may not be an option. (go talk to your banker)
As for waiting it out, i think this would be a personal decision. You can argue that prices might chiong through the roof in a couple of years (but seriously, if it does, the economy is in trouble). But one can also argue the other way around that price may have corrected by then, you may have struck a big promotion or 4D and money would no longer be an issue...
Buy within your means if it's for own stay. If you are buying for investment then you would have to do your own risk management assessment.
My two cents.
20 or 30% dnpayment is not a consideration here as the HDB is paid up. It is more of whether which option makes better financial sense.:beats-me-man:
Geylang OKT
24-10-10, 08:20
Hi guys, just wanted to get some general opinons. If one is currently staying in a hdb and waiting for about 4 yrs to fulfil MOP before he can get a pte pty. Would it make more sense to just wait for MOP to be over before getting a pte pty or get a pte pty using say parents' name 1st and do a transfer to own name upon end of MOP.
1st option can be bad cos by end of MOP, prices may have soared much compared to now. 2nd option also has its drawbacks as in he would have to pay for the stamp duties to transfer the pty back to his name from his parents' after MOP.
Asking for my good friend. Pls advise.:confused:
On the flip side, prices may have corrected downwards by 20% to 30%. Nothing goes up forever you know :D
On the flip side, prices may have corrected downwards by 20% to 30%. Nothing goes up forever you know :D
Wah, the wise one has spoken!
On the flip side, prices may have corrected downwards by 20% to 30%. Nothing goes up forever you know :D
The question is WHEN will this be happening?:2cents:
And what are the chances?
I'm sorry, but one should not do this kind of thing. Parents are not the tools to use for financial gain. One should make his investment decisions based on his own constraints and capabilities.
shauntanzs
24-10-10, 10:18
I did the same. I bought the property under my parent's name during my MOP. My dad had retired so i secure the loan as the financer. I do not intend to transfer the property back under me after my MOP. Just leave it as it is since we are one family. Just collect some rental or sell it when price is price. Unless u intend to stay in this pte pty, den thats a different story.
devilplate
24-10-10, 11:38
I did the same. I bought the property under my parent's name during my MOP. My dad had retired so i secure the loan as the financer. I do not intend to transfer the property back under me after my MOP. Just leave it as it is since we are one family. Just collect some rental or sell it when price is price. Unless u intend to stay in this pte pty, den thats a different story.
u r the only child den ok la(1 family)....if u got other siblings and ur parents nvr write a Will....den tats it...shared among ur siblings next time...be careful:2cents:
Wild Falcon
24-10-10, 12:29
Doesn't make any sense to me. I don't believe in future-proofing your life. Why would you buy something that you think you MIGHT need 5 years later? Maybe 5 years later, your taste have changed. Worst still, using your parent's name and financing for that to circumvent some "loophole" in the rules. Looking at the way the government tries to cool the market, the probability of property cheonging through the roof is close to zero. Why not you just live through your MOP and decide where you want to move later?
It makes no common sense - let alone financial sense.
20 or 30% dnpayment is not a consideration here as the HDB is paid up. It is more of whether which option makes better financial sense.:beats-me-man:
Tell your "good friend" not to risk it in today's age where parents sue their children due to increased life span and escalating costs of living and not having planned enough to provide for themselves.
They had it good buying at 30k and selling it at 600k today after say merely 20 to 30 years only due to the high speed of development of the country. Saturation has been reached, how more 'advanced' can this society grow?
How certain can you be that Singapore will see 20000psf in 30 years time.
Open your eyes - see which age group are the ones hoarding the casinos...
alvinkoh1818
24-10-10, 20:33
Hi there,
the most burning question now is whether have you shortlisted one or few ideal units you want to invest in?
next, consider the price and your affordability
Buy/invest within your means is paramount
Just my personal view :)
Geylang OKT
24-10-10, 21:15
IMHO if you have other siblings... sooner or later things will sour if your parents had bought properties on your behalf (without their knowledge).
When one's parents go to heaven, siblings (maybe egged on by their other half) may scrutinise every single financial detail.
You may find your bros and sisters all clamouring and insisting that that your parents' properties be shared equally among all the children instead :hell-hath-no-fury: :hell-hath-no-fury: :scared-1:
So sad but guess this is the reality today even with the reduced family size....:money-faced1:
IMHO if you have other siblings... sooner or later things will sour if your parents had bought properties on your behalf (without their knowledge).
When one's parents go to heaven, siblings (maybe egged on by their other half) may scrutinise every single financial detail.
You may find your bros and sisters all clamouring and insisting that that your parents' properties be shared equally among all the children instead :hell-hath-no-fury: :hell-hath-no-fury: :scared-1:
You have the urgency to buy now because you are afraid that prices will climb higher if you wait longer.
You know when I ask people why they bought properties during the peak of 1996 Q2. Their answer is often "afraid of missing the boat" and they believed at that time that "prices will go higher soon".
Many of them, till today (i.e. 14 years later), still haven't break-even yet.
Buy now or later verse sell now or later???Who do you think he will make a right move? :beats-me-man:
devilplate
24-10-10, 22:48
You have the urgency to buy now because you are afraid that prices will climb higher if you wait longer.
You know when I ask people why they bought properties during the peak of 1996 Q2. Their answer is often "afraid of missing the boat" and they believed at that time that "prices will go higher soon".
Many of them, till today (i.e. 14 years later), still haven't break-even yet.
in the 80s, ppty prices was at record high....if u nvr buy, u really miss the 80s-97 super bull run...
nothing is for sure...
Lets see how markets will move:
US printing $$$ so they run to Asia to seek better returns. Property will go up.
Singapore govt frowns on property rise as it will affect cost of everything including business. So property will deflate.
So which will come true? Use your blain...use your blain.....:p
rattydrama
24-10-10, 23:43
The more the government curb, it stablises the property price and more people will want to go in and buy once they have the money. Property hedges against inflation.
Government will not let the property price drop 30% and will try their very best to curb.
Asians are getting richer and richer by the days, our property price will go in tandem as SG land supply is limited.
Major price correction may happen if something like SARS alike affecting Singapore or all the Asia countries.
Got money buy lor. Dont balme if get stuck so make sure you can hold on to it.
Lets see how markets will move:
US printing $$$ so they run to Asia to seek better returns. Property will go up.
Singapore govt frowns on property rise as it will affect cost of everything including business. So property will deflate.
So which will come true? Use your blain...use your blain.....:p
I suppose in the Singapore mkt it's not so much of when to buy, but more on what you can afford.:D
TS, i feel you buy under your parent's name 1st.
but what time to buy property..? maybe not now? now is like at the peak.. :mad:
Though buying now may be higher price, but interest rates is low. In fact as a total price may not necessarily be worse off or much different than those who bought eariler where interest rate was higher. Going forward even if price come down, interest rate may have increased then. So the best buy is catch it when price had come down from peak and interest rate is also dropping. Is this the current scenario?
rattydrama
25-10-10, 08:58
and most likely you get to fish out some choice unit where you could have paid a premium price during good times.
Though buying now may be higher price, but interest rates is low. In fact as a total price may not necessarily be worse off or much different than those who bought eariler where interest rate was higher. Going forward even if price come down, interest rate may have increased then. So the best buy is catch it when price had come down from peak and interest rate is also dropping. Is this the current scenario?
On the flip side, prices may have corrected downwards by 20% to 30%. Nothing goes up forever you know :D
don believe this will happen!!! the price has more or less stabalise by now. my view is property prise will continue to rise moderately for the next 2,3 years. US still being the big brother (thou technically bankrupt) will impact global economy. now US is still in trouble but price still go up as asia is leading the growth. when US recover in the next few years, isnt asia going to benefit again from US recovery?:2cents:
don believe this will happen!!! the price has more or less stabalise by now. my view is property prise will continue to rise moderately for the next 2,3 years. US still being the big brother (thou technically bankrupt) will impact global economy. now US is still in trouble but price still go up as asia is leading the growth. when US recover in the next few years, isnt asia going to benefit again from US recovery?:2cents:When US on the way to recover, interest rate will go up and property will be hit hard!!!
Only if you have calculated your servicing capacity based on the current ridiculously low interest rates, which the banks are doing and which the Gahmen is trying to prevent. That's why raise LTV to 30%, if can pay 30% usually no problem holding it out.
don believe this will happen!!! the price has more or less stabalise by now. my view is property prise will continue to rise moderately for the next 2,3 years. US still being the big brother (thou technically bankrupt) will impact global economy. now US is still in trouble but price still go up as asia is leading the growth. when US recover in the next few years, isnt asia going to benefit again from US recovery?:2cents:
now funds from over world are coming into Asia. when the us recovery,whr do u think the funds will go to? Reversal way or stay put In Asia
When US on the way to recover, interest rate will go up and property will be hit hard!!!
good. Got money can afford to wait on sideline. Only those can merely afford the 10-20% through squeezing their bank acct dry are rushing in.
Quote from PL; I do not have alot of money but I have alot of time.
US is smart. They can't get china to lower their currency exchange rate. So they print more money. The extra money goes to pay china for the treasuries they bought to keep their currency low. So US dollars are going to be weaker....
All other exporting countries follow by lowering their currency too, to protect their exporters.
Singapore government even smarter.... While everyone is rushing to lower their currency exchange rate, singapore did the opposite, we increased our exchange rate. That is a stroke of genius... (at expense of exporters but great for banking industry)
Where do you think the whole world is going to park their money? In country will increasing or decreasing currency rate?
Where do you think all the money is going to go into... potentially property!
It's true that the government will not let property prices rise too fast, but they will not let it crash either(that will be disastrous for the economy). They will add or remove measures to keep the prices more or less stable, with slight upward bias. There's plenty of ammunition in the government's arsenal.
With the US keeping interest rates at almost zero, singapore rates can't go much higher. When the US rates go higher, it means that the economy has improved and with that property prices. By the time you can't afford to higher rates, sell lor!:)
In short, prices are not going to crash....
rattydrama
25-10-10, 23:07
or I do not have a lot of time but I have the $ right now?
good. Got money can afford to wait on sideline. Only those can merely afford the 10-20% through squeezing their bank acct dry are rushing in.
Quote from PL; I do not have alot of money but I have alot of time.
rattydrama
25-10-10, 23:13
Notorious heaven for money parking...
2 casinos in a tiny island...
no extradite treaty with our indo neighbour...
solid legal system..
Singapore government even smarter.... While everyone is rushing to lower their currency exchange rate, singapore did the opposite, we increased our exchange rate. That is a stroke of genius... (at expense of exporters but great for banking industry)
Where do you think the whole world is going to park their money? In country will increasing or decreasing currency rate?
The success of singapore is dependent on our neighbours being dysfunctional. hence the rich will park their money here, legally, illegally or semi-legally:)
If they get their act together, we'll be in trouble, fortunately, that's quite a while off.
rattydrama
26-10-10, 09:37
that will not happen in our life time.:spliff: SG capitalises on this unique situation.
The success of singapore is dependent on our neighbours being dysfunctional. hence the rich will park their money here, legally, illegally or semi-legally:)
If they get their act together, we'll be in trouble, fortunately, that's quite a while off.
now funds from over world are coming into Asia. when the us recovery,whr do u think the funds will go to? Reversal way or stay put In Asia
that's assuming Asia growth outlook is lacklustre as compared to that of USA. i believe there's already a seismic shift in the balance of global economic powers. china is already demanding for more say in the global economic scene and flexing its might through banning rare minerals export in a political dispute
barring a catastrophic kabloom in asia, asia's star gonna shine for the next couple years.
20 or 30% dnpayment is not a consideration here as the HDB is paid up. It is more of whether which option makes better financial sense.:beats-me-man:
If your friend have the funds, use a company to buy private property
Notorious heaven for money parking...
2 casinos in a tiny island...
no extradite treaty with our indo neighbour...
solid legal system..
..and on a more practical ground, the only place where you have a 10,000 note. ;)
..and on a more practical ground, the only place where you have a 10,000 note. ;)
does banks in other countries accept 10,000 note?
how about money changers in other countries?
how do they keep track of the serial number ya?
..and on a more practical ground, the only place where you have a 10,000 note. ;)
Plenty in Indonesia and Vietnam...
Plenty in Indonesia and Vietnam...
u didn't get it. those are not hard currencies. ;)
let me phrase it another way, how do u carry 1mill US$ cash ? ;)
rattydrama
26-10-10, 13:53
shsss...........shss shss...........
Quote:
Originally Posted by rattydrama
Notorious heaven for money parking...
2 casinos in a tiny island...
no extradite treaty with our indo neighbour...
solid legal system..
..and on a more practical ground, the only place where you have a 10,000 note. ;)
rattydrama
26-10-10, 13:59
And friends from Myanmar as well.
Heard parents sent there 2 kids here to SG at the age of 18 and convert them to Sporeans.
The parenets will be here 6 months to accompany the kids, another 6 months back in Myanmar.
They have a family business in their home country and is doing well with the right connection to the militant gov.
Plenty in Indonesia and Vietnam...
shsss...........shss shss...........
Quote:
Originally Posted by rattydrama
Notorious heaven for money parking...
2 casinos in a tiny island...
no extradite treaty with our indo neighbour...
solid legal system..
..and on a more practical ground, the only place where you have a 10,000 note. ;)
Brunei too has 10,000 note..and is freaking huge..like handkerchief folded
u r the only child den ok la(1 family)....if u got other siblings and ur parents nvr write a Will....den tats it...shared among ur siblings next time...be careful:2cents:
even only child also can flight
what if "touch wood" , parent out grown him/her.
Parent say.. this unit is mine.
Spouse say.. no .. that unit's mine. My dear pay for it.
u didn't get it. those are not hard currencies. ;)
let me phrase it another way, how do u carry 1mill US$ cash ? ;)
U asking me how to launder money in a roundabout way? :p
don believe this will happen!!! the price has more or less stabalise by now. my view is property prise will continue to rise moderately for the next 2,3 years. US still being the big brother (thou technically bankrupt) will impact global economy. now US is still in trouble but price still go up as asia is leading the growth. when US recover in the next few years, isnt asia going to benefit again from US recovery?:2cents:
I think a lot of potential buyers to prop up the market as long as the ecomony is good and interest remains low...
You can predict the interest of prpoerty is there..JUST take a look on HOW MANY newbies suddenly appear within this few months in this forum will tell you how interesting the market is NOW!!!:D :D
I think a lot of potential buyers to prop up the market as long as the ecomony is good and interest remains low...
You can predict the interest of prpoerty is there..JUST take a look on HOW MANY newbies suddenly appear within this few months in this forum will tell you how interesting the market is NOW!!!:D :D
My friend an ex MD go be a property agent and says that now with the regulation there will be less competition.... True to a certain extent.
proud owner
26-10-10, 22:02
Notorious heaven for money parking...
2 casinos in a tiny island...
no extradite treaty with our indo neighbour...
solid legal system..
for those in the banking industry...they will be able to tell you how strict MAS is about AML ...
yet it seems theres no control on that in the casinoes ...
how ironic and unfair
I think a lot of potential buyers to prop up the market as long as the ecomony is good and interest remains low...
You can predict the interest of prpoerty is there..JUST take a look on HOW MANY newbies suddenly appear within this few months in this forum will tell you how interesting the market is NOW!!!:D :D
The market has always between interesting, have been following it for years....
But this newbie has just discovered this website :)
Back to the original topic... market is not going crash, in this newbie's opinion
proud owner
26-10-10, 23:43
The market has always between interesting, have been following it for years....
But this newbie has just discovered this website :)
Back to the original topic... market is not going crash, in this newbie's opinion
you may have only joined the forum in Oct 2010
but the way you write .. with such 'confidence' .. doesnt show a bit you are NEW ..
are you sure you are not an old member, who has gone missing and re sign up as a newbie ?
rattydrama
26-10-10, 23:56
for those in the banking industry...they will be able to tell you how strict MAS is about AML ...
yet it seems theres no control on that in the casinoes ...
how ironic and unfair
Nothing if fair in this world.
"Good" for Singapore economy. Money trapped in Citibank and American bank stocks during the financial crisis and yet we still have a lot of money.... cos we never run out of cash - someone else cash.
What is AML?
you may have only joined the forum in Oct 2010
but the way you write .. with such 'confidence' .. doesnt show a bit you are NEW ..
are you sure you are not an old member, who has gone missing and re sign up as a newbie ?
Definately a Newbie, joined 4 days ago :)
Hope my 'confidence' isn't misguided.
proud owner
28-10-10, 00:30
Nothing if fair in this world.
"Good" for Singapore economy. Money trapped in Citibank and American bank stocks during the financial crisis and yet we still have a lot of money.... cos we never run out of cash - someone else cash.
What is AML?
AML = Anti Money Laundering
bank staffs have to go thru courses every now and then on AML ..how to check suspicious customers , cash deposits, withdrawals etc
and yet in casinoes .. if you come in brief cases of cash ... you get special VIP rooms .. :doh:
devilplate has an interesting strategy on this which I agree, resale during bull runs, new projects during correction spell.
if the dollars and cents can justify having it parked under the parents name, then perhaps it's worth more than a thought.
rattydrama
28-10-10, 11:28
kane, can you explain this strategy?
devilplate has an interesting strategy on this which I agree, resale during bull runs, new projects during correction spell.
devilplate
28-10-10, 11:35
i also interested to noe this strategy
cant rem wat i wrote last time:ashamed1:
i also interested to noe this strategy
cant rem wat i wrote last time:ashamed1:
you were saying to target resale during bull runs cos new developments' premiums have all been priced in, whilst in the bad times, you would target new developments cos some of them would be selling at a discount. :D
devilplate
29-10-10, 00:28
you were saying to target resale during bull runs cos new developments' premiums have all been priced in, whilst in the bad times, you would target new developments cos some of them would be selling at a discount. :D
during bad times, i target subsales(BUC projects):D
recently, i realised resale not any better den new launches:ashamed1:
during bad times, i target subsales(BUC projects):D
recently, i realised resale not any better den new launches:ashamed1:
well, probably the hordes are starting to realise the gulf between resale and new shouldn't be so wide.
U asking me how to launder money in a roundabout way? :p
just got back from MBS.
i can tell u guys that there is A LOT of possible money laundering going on in the casinos.
guys betting and losing few thousand a hand in blackjack, winning and losing without batting an eyelid. as u know, blackjack is a fast game... anybody can "clean" many hundreds of thousands in just an hour.
just got back from MBS.
i can tell u guys that there is A LOT of possible money laundering going on in the casinos.
guys betting and losing few thousand a hand in blackjack, winning and losing without batting an eyelid. as u know, blackjack is a fast game... anybody can "clean" many hundreds of thousands in just an hour.
How exactly do you do money laundering in casino?
you bring in US$110k undeclared cash into casino.
lose 10k to casino
win 100k from casino
so your 100k is now clean, because winnings from casino?
and pay 10k fee to casino?
why only a few thousand a hand at blackjack? why not hundreds of thousands a hand at baccarat?
rattydrama
29-10-10, 09:08
maybe because of SSD - if they sell now, the next property will be slapped with a 3 year SSD.
well, probably the hordes are starting to realise the gulf between resale and new shouldn't be so wide.
In a good mkt go for resale, in a bad mkt go for new.:D :D
In a good mkt go for resale, in a bad mkt go for new.:D :D
in a bad mkt, buy condos launched during that time and if that don't have, subsale BUC.
in a good mkt, hold and sell.
How exactly do you do money laundering in casino?
you bring in US$110k undeclared cash into casino.
lose 10k to casino
win 100k from casino
so your 100k is now clean, because winnings from casino?
and pay 10k fee to casino?
why only a few thousand a hand at blackjack? why not hundreds of thousands a hand at baccarat?
yeah that is how people do it. u mean u dunno?
why thousands a hand at BJ? less conspicuous and can rotate around the many tables at both casinos. i am a regular at both casinos and have seen different people playing BJ this way. BTW, not all of them are the owners of the cash, many of them are kar-kia doing laundry for their bosses. and many are not singaporean.
why not hundreds of K at one hand of baccarat? millions in an hour? that one sure raise many eyebrows. plus it is not wise to clean so much in such a short time.
yeah that is how people do it. u mean u dunno?
why thousands a hand at BJ? less conspicuous and can rotate around the many tables at both casinos. i am a regular at both casinos and have seen different people playing BJ this way. BTW, not all of them are the owners of the cash, many of them are kar-kia doing laundry for their bosses. and many are not singaporean.
why not hundreds of K at one hand of baccarat? millions in an hour? that one sure raise many eyebrows. plus it is not wise to clean so much in such a short time.
Lord Anus you seem to be an expert at BJ.
devilplate
29-10-10, 18:52
Regular at both casinos... Aso busy washing ar??
rattydrama
30-10-10, 09:57
HAHA I also dont know. This question may be stupid.
You mean you can confirm you will sure loose 10k out of 110K? And take home 100K? How to do that?
I tot it is depending on luck?
yeah that is how people do it. u mean u dunno?
why thousands a hand at BJ? less conspicuous and can rotate around the many tables at both casinos. i am a regular at both casinos and have seen different people playing BJ this way. BTW, not all of them are the owners of the cash, many of them are kar-kia doing laundry for their bosses. and many are not singaporean.
why not hundreds of K at one hand of baccarat? millions in an hour? that one sure raise many eyebrows. plus it is not wise to clean so much in such a short time.
devilplate
30-10-10, 10:09
HAHA I also dont know. This question may be stupid.
You mean you can confirm you will sure loose 10k out of 110K? And take home 100K? How to do that?
I tot it is depending on luck?
use BJ to wash $ i duno how...
but bacarrat can:D
mabe tats y barcarrat tables always FULL in macau casinos...lol
Casino winnings got receipt or not?
How to proof money is from winning at casinos?
I don't know, never been to casinos before.
Using BJ to wash money. A lot of people be involved. Does casino tell the croupier to let these clients win? Unless croupier can count cards, give hidden signal to clients whether to take card or not. And if hop table to table, the more people involved, the greater chances of leak. Maybe can go to Wikileaks :)
Only know a few ways to wash money.
1) Wait at Paradiz centre, and buy those winning lottery tickets from original owners.
2) Set up cash basis stores like cafes, stalls. Even though no customers, record as if have many customers.
No.1 is best. No need to pay tax on lottery income.
devilplate
30-10-10, 11:31
Casino winnings got receipt or not?
How to proof money is from winning at casinos?
I don't know, never been to casinos before.
Using BJ to wash money. A lot of people be involved. Does casino tell the croupier to let these clients win? Unless croupier can count cards, give hidden signal to clients whether to take card or not. And if hop table to table, the more people involved, the greater chances of leak. Maybe can go to Wikileaks :)
Only know a few ways to wash money.
1) Wait at Paradiz centre, and buy those winning lottery tickets from original owners.
2) Set up cash basis stores like cafes, stalls. Even though no customers, record as if have many customers.
No.1 is best. No need to pay tax on lottery income.
first time i heard of no.1...or i too innocent:ashamed1:
easily exposed rite for no.1?
devilplate
30-10-10, 11:33
HAHA I also dont know. This question may be stupid.
You mean you can confirm you will sure loose 10k out of 110K? And take home 100K? How to do that?
I tot it is depending on luck?
only sore losers/lamers blame on luck de lah.....they blame on luck, frens, agts, or even parents BUT except THEMSELVES:p
u tink bill gates/warren buffet so lucky throughout their years meh?:p
first time i heard of no.1...or i too innocent:ashamed1:
easily exposed rite for no.1?
how to expose ya? I also want to know.
Lets say I have $1mil to wash. I pay $1mil for a $900k winning ticket, or split into several tickets.
when claimed winnings, they recorded down IC, made a cheque.
Oh ya, before you cash in winning ticket, make sure to photocopy winning ticket, and the newspaper showing the winning results, have to take down the date, very important.
After receive cheque, also have to photocopy cheque before cashing it in, very important also.
When IRAS ask how come got so much money, show them the photocopies.
of course using Singapore Pools, the amount of money to be wash is small.
Anyway google 'money laundering" will bring tons of results.
devilplate
30-10-10, 11:48
how to expose ya? I also want to know.
Lets say I have $1mil to wash. I pay $1mil for a $900k winning ticket, or split into several tickets.
when claimed winnings, they recorded down IC, made a cheque.
Oh ya, before you cash in winning ticket, make sure to photocopy winning ticket, and the newspaper showing the winning results, have to take down the date, very important.
After receive cheque, also have to photocopy cheque before cashing it in, very important also.
When IRAS ask how come got so much money, show them the photocopies.
of course using Singapore Pools, the amount of money to be wash is small.
ooo...wat if the person who sell u the tix expose u?
i nvr strike lottery one leh...sianz...paying additional 'tax' nia:( ....me NO LUCK DE LOR!
go casino 10times lose 10times...and not 9times...hahaha:ashamed1:
ooo...wat if the person who sell u the tix expose u?
i nvr strike lottery one leh...sianz...paying additional 'tax' nia:( ....me NO LUCK DE LOR!
go casino 10times lose 10times...and not 9times...hahaha:ashamed1:
Haha, my name is recorded in Singapore Pools system, his name is not.
I have all the evidence on my side.
that's why pay premium - now he bear the risk of IRAS asking him where he has $1m.
Anyway, IRAS check also a few years down the road.
Actually very curious how come IRAS very slow.
That civil servant who stole $11million, most of his money spend in Singapore, buy properties here and there.
IRAS not suspicious meh? They have these super duper system.....
Looks like not working.
or his salary very very high, that's why not suspicious.
Greed is his undoing, if he wants to steal, steal a few times bigtime and run away, just like that lawyer who stole clients' money.
devilplate
30-10-10, 12:00
Haha, my name is recorded in Singapore Pools system, his name is not.
I have all the evidence on my side.
that's why pay premium - now he bear the risk of IRAS asking him where he has $1m.
Anyway, IRAS check also a few years down the road.
Actually very curious how come IRAS very slow.
That civil servant who stole $11million, most of his money spend in Singapore, buy properties here and there.
IRAS not suspicious meh? They have these super duper system.....
Looks like not working.
or his salary very very high, that's why not suspicious.
tat guy too haolian la...if only he stay low profile...shd drive jap car instead of crashing ferrari and den buy another lambo
i guess they wun check on everyone lor...i guess he is kena expose one
tat guy too haolian la...if only he stay low profile...shd drive jap car instead of crashing ferrari and den buy another lambo
i guess they wun check on everyone lor...i guess he is kena expose one
Personal preference is white collar crime, at least don't get caning.
Also potential for stealing a lot of money is more in white collar crime.
I don't understand their mentality why they keep on stealing for years.
Always operate on the assumption that one will be caught sooner rather than later.
On that assumption, have to steal big one time and convert straightaway to physical gold, bearer bonds etc. Get it out of banking system.
Next either give yourself up to police or run away to another country which has no extradition treaty with Singapore.
That lawyer is smart, but he made the mistake of converting to diamonds, which are worth about 10-20cents on the dollar in the black market.
devilplate
30-10-10, 12:14
Personal preference is white collar crime, at least don't get caning.
Also potential for stealing a lot of money is more in white collar crime.
I don't understand their mentality why they keep on stealing for years.
Always operate on the assumption that one will be caught sooner rather than later.
On that assumption, have to steal big one time and convert straightaway to physical gold, bearer bonds etc. Get it out of banking system.
Next either give yourself up to police or run away to another country which has no extradition treaty with Singapore.
That lawyer is smart, but he made the mistake of converting to diamonds, which are worth about 10-20cents on the dollar in the black market.
hope not every lawyer is so so smart wor...cant imagine runaway our hard earned profits:scared-2:
Actually, i think IRAS is damn inefficient.
A few cases show that those people who don't report rental income, they are caught only after a few years.
If tenants declared rental and stamp duty, and owner don't, at most 1 year, the system should detect already.
The civil servant, buy a few condos and cars, all purchases are recorded computerised system. IRAS should know about it already.
Unless the civil servant, being an insider, knows the weakness and loopholes in the system.
no receipt but got cameras everywhere to prove you were at casino.
casino losses also no receipt. how to proof being broke is from losing at casinos?
no need to involve many ppl lah.
think about it, you want to legalise $1m. would you mind losing $500k just to legalise that $1m? i won't mind that's for sure as all that dirty money was easy money anyway, if i can easily get 1.5m to go casino to wash, i can easily get another 1.5m.
in fact, some will even lose more money than what they have washed. why? you ask. isn't that dumb? well, these are not hard earned sweat and blood money and any money washed is considered a profit, despite hiw much dirty money is lost.
Casino winnings got receipt or not?
How to proof money is from winning at casinos?
I don't know, never been to casinos before.
Using BJ to wash money. A lot of people be involved. Does casino tell the croupier to let these clients win? Unless croupier can count cards, give hidden signal to clients whether to take card or not. And if hop table to table, the more people involved, the greater chances of leak. Maybe can go to Wikileaks :)
Only know a few ways to wash money.
1) Wait at Paradiz centre, and buy those winning lottery tickets from original owners.
2) Set up cash basis stores like cafes, stalls. Even though no customers, record as if have many customers.
No.1 is best. No need to pay tax on lottery income.
rattydrama
31-10-10, 01:07
only sore losers/lamers blame on luck de lah.....they blame on luck, frens, agts, or even parents BUT except THEMSELVES:p
u tink bill gates/warren buffet so lucky throughout their years meh?:p
gambling is still dependent on luck no matter how hard you count your chance. How not to?
The only way I can think of is gamble with discipline which itself is a form of calculated risk.
rattydrama
31-10-10, 01:08
different class... sound like "get out of my elite uncaring face" haha
no receipt but got cameras everywhere to prove you were at casino.
casino losses also no receipt. how to proof being broke is from losing at casinos?
no need to involve many ppl lah.
think about it, you want to legalise $1m. would you mind losing $500k just to legalise that $1m? i won't mind that's for sure as all that dirty money was easy money anyway, if i can easily get 1.5m to go casino to wash, i can easily get another 1.5m.
in fact, some will even lose more money than what they have washed. why? you ask. isn't that dumb? well, these are not hard earned sweat and blood money and any money washed is considered a profit, despite hiw much dirty money is lost.
different class... sound like "get out of my elite uncaring face" haha
money launderers are probably lower breed than you are
they are the scum of society, sucking filthy money from filthy businesses and cleaning it so that they can maintain a veneer of respectability in society
many of them drive bentley continentals, porsche turbos and lambos around town. not all of them make few million a year thru entirely legal means
no receipt but got cameras everywhere to prove you were at casino.
casino losses also no receipt. how to proof being broke is from losing at casinos?
no need to involve many ppl lah.
think about it, you want to legalise $1m. would you mind losing $500k just to legalise that $1m? i won't mind that's for sure as all that dirty money was easy money anyway, if i can easily get 1.5m to go casino to wash, i can easily get another 1.5m.
in fact, some will even lose more money than what they have washed. why? you ask. isn't that dumb? well, these are not hard earned sweat and blood money and any money washed is considered a profit, despite hiw much dirty money is lost.
any idea how long do they keep records of videos in casinos. what are the legal requirements? in private rooms got video cameras?
Why need to prove being broke is from losing at casino?
A lot of money washing is due to unreported income due to high corporate and income tax in neighbouring countries. So those business owners definitely feel the pinch of losing at casinos, lose 1mil just to proof 500k legally, their money is definitely hard earned sweat and blood money. They might just as well pay tax to their governments!
any idea how long do they keep records of videos in casinos. what are the legal requirements? in private rooms got video cameras?
Why need to prove being broke is from losing at casino?
A lot of money washing is due to unreported income due to high corporate and income tax in neighbouring countries. So those business owners definitely feel the pinch of losing at casinos, lose 1mil just to proof 500k legally, their money is definitely hard earned sweat and blood money. They might just as well pay tax to their governments!
if the money laundering is due to unreported income, sometimes it is cheaper to pay tax. that is the conservative way of thinking for some of these people. the more adventurous tax evaders will try to play at the casinos for the chance to win even more money! after all the chances of winning are only marginally lower than that of losing.
if money laundering is due to wholesale theft and embezzelment, which i suspect there are more of these cases than tax evasion, casino is the only way to clean those huge amounts of ill gotten gains. wait till you find out how many indonesians residing in singapore and elsewhere are wanted by the indonesian govt for white collar commercial and financial crimes.
With the recent news on higher Oct 10 sales volume and views that prices can only go higher, do bros/sis here think that its a good time to get an investm pty now? :beats-me-man:
When I see general view that property price will go up higher, I think the property peak is quite near. I still remember 2007 when everyone was so crazy about properties...
I will wait until 2012 when the dust is more or less settled to get a clearer picture i.e. liquidity subsides, many condos TOP, US economy outlook is more certain... http://www.cibmagazine.com.cn/Columnists/Andy_Xie.asp?id=1442&to_hell_through_qe.html
Those who bought the Caspian condo (and sitting on paper gain) did so near the economy bust, while those who bought the LakeFront (and other condos) did so during the economy boom. So I think the downside is more than the upside for those buying now. But if you have spare cash and have enough for retirement, I think investment in property is still safer than stocks.
When I see general view that property price will go up higher, I think the property peak is quite near. I still remember 2007 when everyone was so crazy about properties...
I will wait until 2012 when the dust is more or less settled to get a clearer picture i.e. liquidity subsides, many condos TOP, US economy outlook is more certain... http://www.cibmagazine.com.cn/Columnists/Andy_Xie.asp?id=1442&to_hell_through_qe.html
Those who bought the Caspian condo (and sitting on paper gain) did so near the economy bust, while those who bought the LakeFront (and other condos) did so during the economy boom. So I think the downside is more than the upside for those buying now. But if you have spare cash and have enough for retirement, I think investment in property is still safer than stocks.
True but the wait is making my neck long and the correction is not even guaranteed.:simmering: :tongue3:
rattydrama
16-11-10, 08:37
Some old forumers stop visiting this forum. They adopt a wait and see attitude and will come back when the time is right. Maybe I will be gone if market crush.
If this is for self stay, buy. If for investment than wait a while no hurry if you want to be on the safe side.
If you chiong now, high risk maybe low return. So make sure you can hold on to it and your job is stable.
Also depending on which project you buy.
i am also making that kind of decision now...probably will sign OTP sometime this week on an investment property. Had to be extra careful in selecting - must have a lot of upside before i decided to commit. But there are still risks...
Some old forumers stop visiting this forum. They adopt a wait and see attitude and will come back when the time is right. Maybe I will be gone if market crush.
If this is for self stay, buy. If for investment than wait a while no hurry if you want to be on the safe side.
If you chiong now, high risk maybe low return. So make sure you can hold on to it and your job is stable.
Also depending on which project you buy.
old frumers disappear? i still have the thinking they are around but put in a newbie name that is all...:D
Hi all i'm new to this forum and need some advice.
Should i get a 5rm hdb near mrt 420,000 + 5k cov or a 3bedrm 10yr Ec 700k, 5 mins to mrt. Looking to buy by this year. I've no apartment at the moment.
Hi all i'm new to this forum and need some advice.
Should i get a 5rm hdb near mrt 420,000 + 5k cov or a 3bedrm 10yr Ec 700k, 5 mins to mrt. Looking to buy by this year. I've no apartment at the moment.
need more details.
1) have you taken any subsidies before
2) what is your salary
3) location of hdb & EC
etc
Hi all i'm new to this forum and need some advice.
Should i get a 5rm hdb near mrt 420,000 + 5k cov or a 3bedrm 10yr Ec 700k, 5 mins to mrt. Looking to buy by this year. I've no apartment at the moment.
If you are buying a unit for own stay at the current market price, you should target those that have higher appreciation potential for the next circle.
Without location details, we can comment a choice between A and B.
Hi all i'm new to this forum and need some advice.
Should i get a 5rm hdb near mrt 420,000 + 5k cov or a 3bedrm 10yr Ec 700k, 5 mins to mrt. Looking to buy by this year. I've no apartment at the moment.
3 rooms EC which is 5 mins to MRt at $700K? could you share with me which one? I am interested to know too...thanks..
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