Junior
in this kind of highly charged political climate, when u said, and even printed in a flyer sent to ppl's mailbox ("we are reviewing the HDB income ceiling with an aim to increase to 10k"), it's as good as promised. If anything goes wrong because of this, MBT can even claim "look you oppo asked for this"Originally Posted by devilplate
Senior
They do not want prices to come down. They want flats to be afforable haa haa. This will make those just above the income limit to have a cheaper option now that they can buy dbss and EC. But they do not want these people to mess with standard bto making them super over subscribed.Like that, dbss and EC price sure go up. LPPL.
Junior
True. If you open up the HDB to more people, including the more "well-off" ones, prices might cheong even more. HDB should apply greater restrictions to HDB, not the other way round, like ban PR from buying HDB in the resale market. Come on, if we only give PR to the so-called "talents", surely they can afford private housing and not compete with low or middle income Singaporeans for public housing? Once resale HDB falls, the prices of new HDB which is pegged to resale will fall accordingly.
MBT always say PRs are NOT the ones driving up the HDB prices. Then there is no reason why we can't ban PR from buyingHe always contradicts himself.
Senior
They also said they'll review the call to not raise GST or taxi hikes, etc but their standard reply is, 'We regret to inform you...'.in this kind of highly charged political climate, when u said, and even printed in a flyer sent to ppl's mailbox ("we are reviewing the HDB income ceiling with an aim to increase to 10k"), it's as good as promised. If anything goes wrong because of this, MBT can even claim "look you oppo asked for this"
Honestly i think something will be done but it may not be raising the ceiling... For years up till early 2011, MBT kept assuring that the ceiling is reasonable and HDB is affordable. It was only just before election, they promised to review to get that few more votes. I suspect something is stopping them from raising the ceiling therefore since they promised to review, they may implement something to make housing more affordable without raising the ceiling... just my guess.
Senior
HDB is a trap to make new owners work until they die....
Junior
The PRICE ARBITRAGE OF SINGAPORE HDB FLATS
A step-by-step guide to earn US$1 million in 8 years just by
being a Singaporean.
Chapter 1: Background Information
The Public Housing policy in Singapore is unique in the World because it has created an arbitrage in investing and thereby opening up an opportunity for every Singaporean to become a millionaire.That is, if you know how and have a plan first.
Because you must be a Singaporean and form a family nucleus to buy a new HDB flat ( not a resale flat, but a new launch HDB flat offered by HDB ) , you must become a Singaporean first. As to how and what criteria you have to meet to become a Singaporean, that will be discussed in my other book.
In Singapore, a new flat by HDB is only offered to a Singaporean family nucleus. But any PR or Singaporean can buy a pre-owned HDB flat in the resale market. A new flat (first-owned) by HDB is very much lower than a resale flat ( or pre-owned ) in the open market. The difference can be as much as S$400,000 on the average. Because in new flat, the market is small and limited by household income, while in the resale market new buyers with higher purchasing power are introduced into the market. Herein lies the investing arbitrage I am talking about( arbitrage is the practice of taking advantage of a price difference between two or more markets ).
This price arbitrage existed not only between the new HDB and resale HDB, but also between the Executive Condominiums (HDB) and the Private Condominiums .
Why you need 8 years to get to US$1million is because of HDB imposing a holding period on certain public housing ownerships. You can get there faster if you got an upgrade in your income or job. However, once you gotten your US$1million, there will be no turning back for you after entering the next level of the playing fields.
So, now you roughly have a little background knowledge of the public housing system in Singapore. The next step is to have a plan. Here’s the plan:
00) Become a Singaporean. ( If you are already a Singaporean, you can skip this step and goto the next.)
00) Get married. ( You must find another PR or Singaporean you truly love before getting married )
1) Save your first capital.
2) Buy a new HDB flat. ( in NCR )
3) Sell flat in (2) and upgrade to resale flat. (in CCR )
4) Sell the resale flat in (3) and upgrade to an Executive Condo ( Also HDB ).
5) Sell the EC in (4) and upgrade to a Private Condo ( in NCR )
6) Sell the private condo in (5) and upgrade to a Private Condo in CCR.
So now that you have a plan, the next step is to execute the plan (1) to (6) above.
Do not worry, I will detail exactly how to execute each step listed above ( except steps 00 ) in the coming chapters.
============================================
Chapter 2: Saving Your Capital
Step 1: Saving Your Capital
Saving a capital to buy your first property is never easy. But after you have reached your first US$1million capital, you are on your way to become a millionaire real estate investor. This book is about how to get to that US$1million capital by capitalising on public housing policy in Singapore. But first, you have to learn to save first.
In addition, you do not need to save for the full price of the new HDB. You only need to save for the first instalment and fund your way through housing loans. With your spouse's supporting income, this step will be expedited.
Many people focused savings on direct cost of an item. But they entirely forgot that with each cost item, there are several associated or indirect costs. To save effectively in our current environment, you must first eliminate your expenditure items that carried the most indirect costs. If you are confused by what I meant, do not fret. I shall now explain this concept using a few examples with my proposed solution to each example:
E.g 1. Vehicle Ownership
Owning a pre-owned car in Singapore: Direct cost with COE is S$50,000
Indirect costs: Road tax: S$300 pa, Insurance: S$1200 pa ERP: S$200 pm Petrol:S$400 pm Parkings: S$200 pm ,Service: S$900 pa, Depreciation: S$3000pa
Main Cost ( One time ) : S$50,000
Recurring indirect costs (every month ) : S$25+S$100+S$200+S$400+S$200+S$75+ S$250 = S$1250
Assuming you are a junior manager earning S$4000 pm, this car ownership alone sets you 31% away from your goal to become a millionaire.If you have taken a car loan, you will be more than 31% away!
Now you get what I mean? So the very first step in your investing adventure towards becoming a millionaire real estate investor is to identify the cost items which are killing your savings and income with the kind of indirect costs mentioned above. I say get rid of that rusty car and take the public transport instead ! After you have reached your millionaire goal, you can drive a brand new Mercedes virtually free on income streams from your properties! But that will again be discussed in another book of mine : How to become a Mega Landlord in Hong Kong.
E.g 2. The Television.
Having a television is a sin for the aspiring millionaire. Because after buying a decent LCD television:S$900, you incurred the following indirect costs:
1) TV cabinet/ mounting plates : S$300
2) Nice good AV cables : S$30 ea
3) Cable Box & Subscription : S$200pm
4) Electricity : S$10pm
The recurring costs is about S$210pm and the fixed indirect costs is S$300+S$30= S$330.
If your spouse and you are both in managerial positions, most likely you will only meet each other at home after 9:30pm every working day. So the television is actually a redundant item collecting dusts and incurring an indirect costs every month. I say do some work in bed and get rid of that piece of junk instead! Of course I am assuming you are staying in a room with your parents at this stage. Any television expenses outside your room is of course not bore by you.
E.g 3. The Innocent Lights & iron.
If both you and your partner are filial like most human towards your parents, I assume too that you are footing the utility bills for the household.
The first items you should change are your light bulbs to energy saving ones. Most light bulbs in your old parents' apartments are electricity suckers.
The other items you should get rid of are the iron or any appliances with heating elements made 10 years ago. These are made when oil prices are low and definately energy suckers too. I say, just spend a little fixed upgrade costs of S$500 to save the ridiculous recurring electric bills.
Look for energy saving labels on the electric appliances and with the correct selection, you should save about 10% every month in your utility bills.
E.g 4. The water.
E.g 5. Eating out & window shopping.
During the initial stage in becoming a millionaire, you must make use of your parents. Yes, you heard me right. Make use of them ! Well, maybe not make use, but to engage their assistance in cooking a meal for you. The old people will get senile if they just laze at home doing nothing! You will be amazed at how much you can save just by eating at home.
Provision for a week's home meal (dinner only)
GOOD Vegetables : S$70
Meat ( You do not actually need this item ) : S$25
Fish ( You need lots of OMEGA! ): S$80
Rice : S$50
Gas & Utilities to Cook: S$15
Human Labor: S$0
Daily Home Dinner Cost for 4 persons as at 2011: S$34.28 or S$17.14 for 2 paxs
If you eat at Fast Food for 2 paxs: S$30
You saved : S$12.86 every dinner ! That is S$385.80 every month.
If you have followed the above proposed change, you would have saved about S$1250+S$210+S$385.80 = S$1845.80 every month. Now, what are you going to do with that much money? Set it aside for your coming housing loan payments or your first property deposit. ( More on this in next chapter )
E.g 6. The mobile phone.
E.g 7. Not exercising and not brushing your teeth.
E.g 8. The boy gadgets & toys.
E.g 9. The girl handbags & shoes.
E.g 10. Having *** without having babies.
( To be Continued )
ALL RIGHTS RESERVED.
Disclaimers: I am verifying the numerical figures above, they are tentative estimates only.
BLACKJACK21TRADER
nil sine labore
Junior
wah, how much is the book ?
Junior
maybe only US$0.50 per download, i will put it up on my website when it is completed somewhere end of 2011.
Junior
so what is the next step after step 6 ?
again go back to hdb market or go to landed ?
Exalted
How is it possible to complete the cycle within 8yrs?
Apply bto+5yrs mop oredi 8yrs
Senior
Interesting, but can you explain how someone like wendy quek can own or co own 50 properties with little or no money to begin with ten years ago?
Junior
mbt must do something or ppl will think he is jus buying vote for promise to review. maybe he only raise another 1k to 9k instead of 10k. at least he did something so cannot get backfireThey also said they'll review the call to not raise GST or taxi hikes, etc but their standard reply is, 'We regret to inform you...'.
Honestly i think something will be done but it may not be raising the ceiling... For years up till early 2011, MBT kept assuring that the ceiling is reasonable and HDB is affordable. It was only just before election, they promised to review to get that few more votes. I suspect something is stopping them from raising the ceiling therefore since they promised to review, they may implement something to make housing more affordable without raising the ceiling... just my guess.
Junior
she didnt exactly state her share ownership in the 50 properties....
Junior
anyway, we are digressing away from the purpose of this thread.
To find out the Mother of all reasons
Junior
nice info.. this will greatly help all those aspiring $1mil HDB upgraders
Exalted
Higher flawed reasoning.....nvr come across bto n resale px diff of 400k....at most 200k nia....
And i tink the crucial part is to get married early....
1)get a bto flat
2)save during the 8yrs period
3)keep bto flat as rental n get a resale EC or mass market condo
Junior
Higher flawed reasoning.....nvr come across bto n resale px diff of 400k....at most 200k nia....
And i tink the crucial part is to get married early....
1)get a bto flat
2)save during the 8yrs period
3)keep bto flat as rental n get a resale EC or mass market condo
HA HA ! U NEVER COPYRIGHT UR IDEA. I shall adapt that good ideas into my book !
That $400K difference will happen one day but i shall not tell you when!
ALL RIGHTS RESERVED. BLACKJACK21TRADER
Senior
Don't mean to be a wet blanket, but I never believe in get rich books coz it offers little practical solution to an average person.
Exalted
It does open up some ideas on leveraging power
Last time got int only loan for eg
Exalted
Save it for urself.... Not interested anymore
Newbie
Even if it is free for download, it will be a waste of my time to read it. I am sure it is a load of rubbish.maybe only US$0.50 per download, i will put it up on my website when it is completed somewhere end of 2011.
Senior
My ideology is very simple for beginners. Get a new hdb flat from government and make use of whatever grants given by government, work hard to pay off first flat, save up for 20% and wait out five years to put 20% on a resale condo to rent out.
Junior
She is not the only one with this type of claims
Nevertheless, their big monies made are from the seminars, and pooling others' monies to buy properties
Senior
agreed, they charge something like $2k plus per person for attending the seminars. 1000 participants for the seminars and it is a cool $2 million plus.
Junior
THE MOTHER OF ALL REASONS WHY PEOPLE ARE BUYING IN ASIA ( SPECIAL PERMISSION GRANTED BY HIS MAJESTY PRESIDENT OBAMA ) :
http://www.youtube.com/watch?v=qQYLCkcsobs
The mother of all reasons is that the internal infrastructure of hot developing countries like India, China, Brazil and Russia are not supportive and attractive enough to retain their newly rich. The new rich are torn between the Western ailing economies and the Eastern booming economies.
This resulted in human migrating osmosis to advanced cities like Hong Kong, Shanghai, Tokyo, Taipei, Kuala Lumpur, South Korea and a city called The Lions.
The new found rich came from devastating backgrounds of poverty and distraught. But they are highly educated and intelligent. Hence their willingness to take root in more advanced cities for the benefit of their next generation. This is due to the lack of infrastructural support in their homelands.
HOWEVER, SG ELECTION CHANGED EVERYTHING and the mother of all reasons is no longer valid here. This is because the sg gahment will certainly close this tap very soon for the benefit of homeland born Lions.
Good Luck to Myself la.... Hope the agents dun use this to their advantage.
HENG ARH ! I already parked in Hong Kong and Taipei!
Last edited by blackjack21trader; 12-05-11 at 00:47.
Junior
THE MOTHER OF ALL REASONS PART II.
The new rich is a result of Obama pumping $$$ into the global system. With Japan now join in the pumping $$$. The new rich will only get richer and can hence afford to migrate faster and farther la!
BUT, they need a roof in the new lands. So, what they do? They BUY PROPERTY LA ....ARHHHHHHHHHGGGGGGHHHHHH Why YOU BOOT OUT PAP IN A GRC LA????
WHY ARH WHY ARH???? NOW GAHMENT WILL STOP THEM LIAO LA.... MY $$$$ ALL GONE INTO DRAIN SOON LA...ARGGGGGHHHHHH
MANY EMPTY UNITS CONTRIBUTED by me la....ARGGGGHHHHH
http://www.youtube.com/watch?v=CuQfZCQdlWE
Junior
MOTHER OF ALL REASONS PART III:
PAP are weak in SMCs, next time go SMCs la.....pls hor...dun sabo me again...
http://www.youtube.com/watch?v=dxqfnlxi2ME
Last edited by blackjack21trader; 12-05-11 at 01:16.
Junior
The mother of all reasons part 4: the inbalancing forex.
A not too long ago... Us$ was stronger than many currency in e world. But the sad part is, her economy was sabotaged by greedy wall street. A big portion of wealth vanished in their housing assets. This put USA into a big hole that she could only dig by pumping more n more n more n more $$$. u see, if the value of assets does not return to housing, she cannot get out of this stalemate. Becos us$ is a global currency, as it gets cycled around, it gets taken in by weaker currency centers which r developing fast.
So the rich in bric gotten a chance to spend their monies but they are not contented to stay root in a war zones or in a communist system. They r free people of the Internet. They wants the best for
Zzzzzzzzzzz I fell asleep now.....
Junior
Btw, the "神" in my user name does not mean "god", 神龙 means arowana or the dragonfish. As u can see, the mother is Bering complicated right, but I will try to explain in as layman terms as possible for you. This will help u in ur investment strategy. But for now...I go sleep.
Junior
aiya...cannot sleep la...
The Mother's Backgound
The US$ is unique because it is a global currency. Not many strong currency are accepted like US$ and only US$ can demand that status due to her advanced technology. She is unlike the pound, which was weakened in 1940s due to the wars and then through 70s due to her lacking position in science and technology.
In our modern world, only currency with advanced tech can stay in power. They are
1) US$
2) YEN
3) BP
4) HK$
5) S$
6) RMB
in that order. Our sg gahment is too ambitious, because she wanted to overtake hong kong using the same strategy as USA. that is by advancement in research and technology. How so? Because of biotech- many medical system around the world will use your currency if they buy your drugs ( not that drug, DRUGS you know as in medicine ) like USA. However, sg$ did succeed somewhat after 2004, when many scientists started to migrate to Singapore. The problem is, they do not want to be Singaporean. If they do not want, something must be done to attract them, right?
anyway, back to the US$ story. So, as George pumps and pumps the $$$ into the global system, the bric are able to absorb because of the lacking capacity within their economic system. What caused this? Yes ! So clever.. it is their infrastructures!
Last edited by blackjack21trader; 12-05-11 at 02:10.
Posting Permissions
Reply With Quote