View Full Version : Another Advice from all gurus here
Hi all, it has been a while since I last active here. It would be good if all gurus here can lend me some advice?
I sold my PTE recently and I was thinking of the following and maybe some can share with their views?
Options I am consider as followed ** All Condo are OCR type
1. Buy another Resale Condo-Cheaper than new launch and own stay (25% down) Left with 200k and go for MM unit ard 500k (40% down) for investment. This I won't have to squeeze with my parents
2. Buy a new launch (1mil like that with 30% down) left 100++ K as backup and squeeze with parents for 2 yrs like that (cons is no invesment and still be poorer everyday when money are parked in bank) Buying a 1 mil property discourage me to invest in MM as I am not too comfortable to over stretch.
3.Buy a new launch smaller unit (800k-850k with 25% down) + MM unit for investment. Need to squeeze with parents also.
4.Buy another Resale Condo (bigger size from 3 Bedrooms to 4 bedrooms)
No MM as well. No need to squeeze
Combined Household income only 130k/yr so cannot stretch too much...
Any good advice from experts in here???
the problem start after you want to sell your PC for profit purpose??
:confused:
Buy a near TOP project? Sub sale prices still lower than new launches.
E.g. Caspian, 8@Woodleigh, Mi Casa, Optima, Beacon Heights, Minton, etc.
:beats-me-man:
ikan bilis
29-04-12, 12:20
ummm... me small fish and no guru... but hor,.... unless your old condo is giving you problems,... else taking equity loan (out from your old condo) might had been a better solution than going through this big loop.... :confused:
130k per yr income and you here for free advice? Go get yourself a proper consultant. Kidding!!!!! I figured you have 400k lying around. Why buy 800k MM? Dont do that. Unless it is D9 or 10 and give you like 3.5k type of rental... Just buy one MM for own stay and another for investment. Settled.
130k per yr income and you here for free advice? Go get yourself a proper consultant. Kidding!!!!! I figured you have 400k lying around. Why buy 800k MM? Dont do that. Unless it is D9 or 10 and give you like 3.5k type of rental... Just buy one MM for own stay and another for investment. Settled.
Hi,
I am not buying MM @ 800K, I am looking to buy 1 for own stay condo(3bedrooms) + 1 MM with my pathetic 420K. Looking for opinion since I am not in property market for the past many years. Due to inflation this 420k is really peanut.....
Based on my income any good suggestion for my strategy?
Looking @ cheap OCR Condo in North so I can buy 1 X MM for investment...or just go for 1 Condo with better build? Example would be get lilydale for own stay since the the price is still relatively low(as of now) and I would be left some cash for MM unit shortly..
Or get a new launch like Nautical/Eightcourtyards etc...and still left some cash..but then I won't be too comfortable to get MM since the loan amount is now difference of >100K. Would it be too risky to get a new launch + MM new launch let say places like ripple bay (seem over supply for such area but at least it is near CBP)
Peronal opinion, ideal is to fully pay one and 20% down for another one.
If cannot pay full on one, at least reduce the loan size to a few years. Better to have one loan and one passive income than 2 huge loan.:2cents:
Hi all, it has been a while since I last active here. It would be good if all gurus here can lend me some advice?
I sold my PTE recently and I was thinking of the following and maybe some can share with their views?
Options I am consider as followed ** All Condo are OCR type
1. Buy another Resale Condo-Cheaper than new launch and own stay (25% down) Left with 200k and go for MM unit ard 500k (40% down) for investment. This I won't have to squeeze with my parents
2. Buy a new launch (1mil like that with 30% down) left 100++ K as backup and squeeze with parents for 2 yrs like that (cons is no invesment and still be poorer everyday when money are parked in bank) Buying a 1 mil property discourage me to invest in MM as I am not too comfortable to over stretch.
3.Buy a new launch smaller unit (800k-850k with 25% down) + MM unit for investment. Need to squeeze with parents also.
4.Buy another Resale Condo (bigger size from 3 Bedrooms to 4 bedrooms)
No MM as well. No need to squeeze
Combined Household income only 130k/yr so cannot stretch too much...
Any good advice from experts in here???
I wouldn't buy new launch at these crazy prices. Will definitely go for resale. Compare the prices, don't be seduced by sleek marketing and posh showflats.
If you're tempted by new launch LH99, don't. You should be able to find a older FH at the same price. Think long term. Property should be appreciating (FH) in value, not depreciating (LH). Since you're soliciting advice. :2cents:
I know a lot of forumers will not agree with my FH-LH position, but that's better for me. Less competition for FH properties :D
danieltangtc
29-04-12, 17:10
If i were u, I would steer clear of Mickey mouse holes. easy to buy, hard to sell :spliff2: Just look at number of units on the market!
I would go for an undervalued area. eg 8 courtyard. Other developments more pricey. This way, you get more capital appreciation over time as the estate develops with more ammenities, eg, new NOrth South expressway and Sembawang Marina by 2020. NEw megamall
Hi,
I am not buying MM @ 800K, I am looking to buy 1 for own stay condo(3bedrooms) + 1 MM with my pathetic 420K. Looking for opinion since I am not in property market for the past many years. Due to inflation this 420k is really peanut.....
Based on my income any good suggestion for my strategy?
Looking @ cheap OCR Condo in North so I can buy 1 X MM for investment...or just go for 1 Condo with better build? Example would be get lilydale for own stay since the the price is still relatively low(as of now) and I would be left some cash for MM unit shortly..
Or get a new launch like Nautical/Eightcourtyards etc...and still left some cash..but then I won't be too comfortable to get MM since the loan amount is now difference of >100K. Would it be too risky to get a new launch + MM new launch let say places like ripple bay (seem over supply for such area but at least it is near CBP)
U already narrow down to north... So just look ard for good resale there. Estuary gog top mayb can consider too. As for the mm mayb miltonia? Or seletar park.
Thanks all! I think yea I should stick to 1 Unit and pay fully first.. Most likely would for another resale (In fact the reason i sold it because I want to move nearer to my parent...lol..+ Cash it out since my property appreciated since..sell high buy high. Looking to pay all within 5-10yrs..then maybe hoot a new unit for investment ba. )
Btw, I am looking @ lilydale,Yishun Emerald...which one would be a better choice? Lilydale and Emerald all facing construction issue with noise and dust for now...(canopy and eight courtyard + 1 Canberra for Emerald)
But they are consider quite reasonable for the moment to relocate to north
Thanks all! I think yea I should stick to 1 Unit and pay fully first.. Most likely would for another resale (In fact the reason i sold it because I want to move nearer to my parent...lol..+ Cash it out since my property appreciated since..sell high buy high. Looking to pay all within 5-10yrs..then maybe hoot a new unit for investment ba. )
The fact that you sold without a solid strategy shows your inexperience.
Even Office Boy like myself plan out what to do if I accept an offer for my own stay property.
For your own sanity do the following :
1) Never ever listen to property agent telling u to sell your property unless thats what you want.
2) Focus on buying that nice property you like that is near your parents' place FIRST. Any other things are secondary. Your sanity is more important than any strategy now
3) Once you are settled down, THEN you think of what to do with the reminder money.
4) Without a stable home, dont think about investments
5) NEVER buy 2 properties in quick succession - like what u say here, buy one stay buy one invest. You are like a tai tai wearing diamond ear rings, necklace, bracelet and walking aimlessly in JB - asking to be robbbed!
Hope the above is enough for you at this point in time.
Any further advice, the Office Boy have to send you in private. Some people may not like these further advice. In fact, some agents maybe already cursing me for the above!
DKSG
How about FH projects like Northwoods and The Sensoria? Both are FH and relatively new.
:2cents:
Thanks for the advice.
Northwood might be a good choice but review mentioned "heli" sound so not sure if any can advice here? Freehold sure good...lol
regency321
30-04-12, 15:44
Mickey Mouse units in OCR are relatively untested and no one can be sure whether there will be demand. So I think you can listen to the bros advice here and not buy two properties in quick succession.
Not sure if you are urgently in need of a new place, else looking at the terrible news going around in Europe, you might want to 'wait a little'. But if the alternative is to rent, then just buy lah.
good luck!
ummm... me small fish and no guru... but hor,.... unless your old condo is giving you problems,... else taking equity loan (out from your old condo) might had been a better solution than going through this big loop.... :confused:While many are actually doing it, taking equity loan to finance your other properties is actually illegal... Hmmm... Is this a case of turning a blind eye??? :scared-3:
I'm actually thinking more of using equity loan to buy car. Car loan interest rate is fixed at about 1.65% to 1.88%. Equity loan gives lower rate (at least for now).... :cheers6: Plus car loans is based on hire purchase. Equity loan might be loads cheaper! :cheers5:
While many are actually doing it, taking equity loan to finance your other properties is actually illegal... Hmmm... Is this a case of turning a blind eye??? :scared-3:
I'm actually thinking more of using equity loan to buy car. Car loan interest rate is fixed at about 1.65% to 1.88%. Equity loan gives lower rate (at least for now).... :cheers6: Plus car loans is based on hire purchase. Equity loan might be loads cheaper! :cheers5:
Technically illegal, but if you have $200K cash now to buy a car, then u take a $200K equity loan from the bank to buy the car, keep the original $200K to buy a property. Does it make sense to you now ?
Cash is the more liquid and unidentifiable class of asset that is most prone to misappropriation - from my audit textbook last time. Hahaha!
DKSG
ikan bilis
30-04-12, 19:32
.... don;t think is illegal, as long as you met the requirements of:
- first property LTV=80% max
- 2nd property LTV=60% max
but, if you take equity loan, and charge the interest incurred to your property income,... that's illegal... unless you use the equity loan to enhance your property...
... and got what big issue meh??.. the most you get around with
- refinance your property with another bank to LTV=80%
- or, sell and buy back a similar unit...
and,... if wanna make it illegal hor, then need to shoot down all the reits first... haha.... :D
(note: hdb cannot take equity loan...)
Technically illegal, but if you have $200K cash now to buy a car, then u take a $200K equity loan from the bank to buy the car, keep the original $200K to buy a property. Does it make sense to you now ?
Cash is the more liquid and unidentifiable class of asset that is most prone to misappropriation - from my audit textbook last time. Hahaha!
DKSGI totally understand what you are saying. Its just that if u have no cash except through taking up equity loan, then U can only choose to buy car or house, one is illegal, the other is not! :cheers5: As I told my banker, this is not a big problem lah... just ensure you have backup plan should you be questioned by the authorities!
.... don;t think is illegal, as long as you met the requirements of:
- first property LTV=80% max
- 2nd property LTV=60% max
but, if you take equity loan, and charge the interest incurred to your property income,... that's illegal... unless you use the equity loan to enhance your property...
... and got what big issue meh??.. the most you get around with
- refinance your property with another bank to LTV=80%
- or, sell and buy back a similar unit...
and,... if wanna make it illegal hor, then need to shoot down all the reits first... haha.... :D
(note: hdb cannot take equity loan...)It is illegal only on paper and its always good to know the law. This law is deliberately left with many loose ends so just know the law and be prepared for it lor... yes yes... HDB cannot take equity loan. Also equity loan is not restricted to properties only... :cheers5:
ikan bilis
30-04-12, 22:27
It is illegal only on paper and its always good to know the law. This law is deliberately left with many loose ends so just know the law and be prepared for it lor... yes yes... HDB cannot take equity loan. Also equity loan is not restricted to properties only... :cheers5:
last time, got a friend who is a property agent told me this, don't know if true...
got 2 hdb neigbours selling hdb flats to each other (they could be friends or relatives, don't know),... they cash out from hdb flat... and yet they keep staying in their own old flats... toakong not??... :gun4: :D
last time, got a friend who is a property agent told me this, don't know if true...
got 2 hdb neigbours selling hdb flats to each other (they could be friends or relatives, don't know),... they cash out from hdb flat... and yet they keep staying in their own old flats... toakong not??... :gun4: :D
Are they buddies visiting MBS or RWS often?
ikan bilis
30-04-12, 23:31
Are they buddies visiting MBS or RWS often?
that was like 2008 before casino opened lah... :D
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