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Hi, I am currently selling my 5 room flat and made a bomb of profit by selling it. I am considering buying a condo and rent it out for few years and then sell it off and settle for hdb flat. For time being, i will stay with my mother.... what is ur comment? I am looking for a condo ard D23 area. Pls gimme ur generous views.... thanks
my friend has a similar situation ..Quote:
Originally Posted by Ryan Shah
he owns and live in a condo .. if he sells now ..he would make a lot of money
he is thinking of doing just that .. BUT take the money and buy a HDB instead ... still with spare .. which he would then invest in stocks .. and IF property prices retrace .. he would then liquidate his stocks (maybe losses) to buy back another condo ..
he could also move in with his parents .. and not buy the HDB ..
but he hasnt done it yet ..
my advise to him is to at least buy a HDB
best is keep a hdb and buy 2 condos fully paid and collect rental income from any 2 of them. I would think $6k of passive rental income a month should be sufficient for most ordinary folks to retire without working :)
Sounds like a good plan.Quote:
Originally Posted by Ryan Shah
Unless you need to borrow a lot of money to buy the condo.
u shdnt sell ur HDB in the first place....:tsk-tsk:Quote:
Originally Posted by Ryan Shah
to acheive tat is definitely not easy....nid to start very young at let say age of 30-35 so tat 30yrs later, u got fully paid house for passive cash cow.Quote:
Originally Posted by Regulators
Why not? For capital gain, HDB flats won't go far. In fact, I believe it is already peakish now (but probably prices will stay high for quite a while with the paper money printing going on). Sell at peak price and get a condo (but make sure don't pay peakish price for those ulu location - location is key!).
Quote:
Originally Posted by devilplate
still possible to take reverse mortgage now? last time can...Quote:
Originally Posted by proud owner
sell liao no more house...high chance plunder in stocks later on. 10 ppl play stocks..1-2 ppl make $ (zero sum game....)
i doubt wif tat hdb profit, he can get any nice condo in prime area...ended up with a bigger loan. My fren sold 6mths ago...cannot find an affordable decent 2bedder condo in city area...(may hf enuff profit for 20% downpayment but cannot get loan)Quote:
Originally Posted by teddybear
i wud rather move in to my mom;s place and rent out my 5rm flat or vice versa...save part of the rental income generated and buy condo again at next cycle.
since he oredi sold...:beats-me-man:
it harder to own multiplle properties ever since the the min sum cash component come in place . It increasing every Jun and multiple house financing possible only by cash (even if u met MSCC for this year, due to max CPF at 4500,...I estimated that there no way to met it for next year unless you do volunatary contribution. just gut feel, no calculation).
CPF can also no longer be used for commercial ppty since 2006.:)
But if cash allowed, for investment, several studio brought over a period of time is probably still do-able.that may explain why studio and 2 bedder are hot.. :)
nevertheless, for prudent reasons (kids still small, job security), I still sold my HDB (in ulu punggol) to reduce the LTV (80% fine for short period but crazy for long term) of the new apartment I bought. I will plan to acquire 2 more studio once the loan is cleared in next 3-5 years..due to good COV profit from HDB.
Agree, never short a property bull market, especially when it outperforms stock market.Quote:
Originally Posted by devilplate
Many Indonesians, Burmese, Vietnamese, Mainland Chinese, Taiwanese are dying to get an HDB ... you get my idea