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Thread: Another GURU 2cent prediction...

  1. #81
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    burlington square goin at $1300 psf for 2 bedder , rental at $3800. definitely a gem...there are plenty if one were to do homework

  2. #82
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    Quote Originally Posted by leftfield
    The issue is always about timing and resources (or lack of shld I say). Say if I see something I really like, by the time I put up my unit for sale, market it and complete the sale (if it ever gets sold), the 'gem' is likely long gone!
    Bro, check with the bank if u can take some "ready credit" on your existing property. It is loan on equity but will be charged interest only if u use the cheque. Since your property is already fully paid, u can talk to a few banks... So when u spot a gem, u can use this facility.
    Check with the bank if this is possible now. I know this was allowed in the past.

  3. #83
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    Quote Originally Posted by Shanhz
    end of the day, it depends on your investment objective.

    if it's a long term type, then yes - buy resale, immediate income, long term capital appreciation (slowly but still surely) and rental to finance the purchase. if FH, better still. if LH, have to weigh the pros and cons and potential depreciation (or i would call it reduced rate of appreciation).

    short term or speculative - BUC better (of course, you have to read the direction of the mkt), but bear in mind 4 year lock-in.

    personally i belong to long term type of investor, so resale is my preference. immediate returns, get your tenant, sit back and relax.
    Agreed. buy resale with existing tenant even better... fully furnished, no agent fees, immediate rental income, all expenses tax deductable (not 1st lease) etc....

    I even bought a resale unit off plan (no viewing since it's tenanted). The lease has since been renewed and it's 2 years now and I haven't even stepped into the unit....

  4. #84
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    Quote Originally Posted by chestnut
    Bro, check with the bank if u can take some "ready credit" on your existing property. It is loan on equity but will be charged interest only if u use the cheque. Since your property is already fully paid, u can talk to a few banks... So when u spot a gem, u can use this facility.
    Check with the bank if this is possible now. I know this was allowed in the past.
    with deposits awash, banks are quite liberal with their unsecured credit.. getting up to 100k is no problem at all. of course interest rate anything from 0%-6%pa.

    that can tide over while approving any equity loan, etc. more imptly, this will not flout any MAS rules on using equity loan for ppty purchase.

    of coz, as per SAF, you can do anything, dun get caught

  5. #85
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    Quote Originally Posted by Shanhz
    with deposits awash, banks are quite liberal with their unsecured credit.. getting up to 100k is no problem at all. of course interest rate anything from 0%-6%pa.

    that can tide over while approving any equity loan, etc. more imptly, this will not flout any MAS rules on using equity loan for ppty purchase.

    of coz, as per SAF, you can do anything, dun get caught
    Bro, I spoke with my bankers and they never say anything about flouting the rule leh?
    This rule people say, very new to me... Even mortgage broker newbie11 say OK.


  6. #86
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    Quote Originally Posted by chestnut
    Bro, check with the bank if u can take some "ready credit" on your existing property. It is loan on equity but will be charged interest only if u use the cheque. Since your property is already fully paid, u can talk to a few banks... So when u spot a gem, u can use this facility.
    Check with the bank if this is possible now. I know this was allowed in the past.
    I have thought about this before but just plain lazy to go ahead with the plan.

    Time to call my mortgage banker to see what they can offer!

    Quote Originally Posted by Shanhz
    with deposits awash, banks are quite liberal with their unsecured credit.. getting up to 100k is no problem at all. of course interest rate anything from 0%-6%pa.

    that can tide over while approving any equity loan, etc. more imptly, this will not flout any MAS rules on using equity loan for ppty purchase.

    of coz, as per SAF, you can do anything, dun get caught
    So far the rules only apply to mortgages, nothing on equity loans. YET!
    树大必有枯枝,人多必有白痴。
    树无皮必死无疑,人不要脸天下无敌!

  7. #87
    Junior

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    Quote Originally Posted by leftfield
    I have thought about this before but just plain lazy to go ahead with the plan.

    Time to call my mortgage banker to see what they can offer!



    So far the rules only apply to mortgages, nothing on equity loans. YET!
    Bro, when u check, let me know... I interested to know...

  8. #88
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    Quote Originally Posted by chestnut
    Bro, I spoke with my bankers and they never say anything about flouting the rule leh?
    This rule people say, very new to me... Even mortgage broker newbie11 say OK.

    bro, whether got official b&w from MAS, i never bother to chk. when i signed my LO, my banker did say cannot use equity loan to pay for ppty purchase. and in the application form, there is a little box which ask you to declare what is the source of your $$$ to pay for the downpayment, etc. this could be anti-money laundering. but it could also be to make sure you declare it is from savings. of coz everybody sure say from savings lah. more for the bank cover their backside in case kenah audit.

  9. #89
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    Quote Originally Posted by Lovelle
    burlington square goin at $1300 psf for 2 bedder , rental at $3800. definitely a gem...there are plenty if one were to do homework
    i'm confused... $1200 psf 2 bedder rent at $3800, consided good yield? OCR new 2 bedder is this range of rental but lower psf leh.... for rental yield, die die need to be CCR/RCR FH??

  10. #90
    Junior

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    Quote Originally Posted by East Lover
    i'm confused... $1200 psf 2 bedder rent at $3800, consided good yield? OCR new 2 bedder is this range of rental but lower psf leh.... for rental yield, die die need to be CCR/RCR FH??

    i think now hard to find already, everyone asking 1500 and rental is abv 4k...
    2mths ago still have...

    but in terms of rentability, these places will not gv u vacant period for too long...

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