Sell HDB and buy 2 condo. Is it a scam?

  • Have you been Scammed?
    Follow this advisory from National Crime Prevention Council (NCPC) on the next steps you can take. More info

bolster

Master Member
Joined
Jan 1, 2000
Messages
3,841
Reaction score
337
Why so many advertisement video encourage people to sell HDB, decouple and buy 2 condo to generate passive income. Is it a scam?

http://www.ytreporp.com/rental_yield.php

From the data, most of the (rental - loan) passive income in the negative range excluding minus maintenance fee and property tax.

Why so many agents encouraging people (innocent people) to do this?

Agent like commission and the folk bear all the risk.
 

niwde82

Member
Joined
Apr 6, 2009
Messages
214
Reaction score
1
It is a scam to you coz u can’t afford it. If u can afford it den why is it a scam? Buy 2 properties without paying absd. Rent out 1 while waiting for capital appreciation.
 
Joined
Jun 10, 2013
Messages
77,266
Reaction score
59
It is a scam to you coz u can’t afford it. If u can afford it den why is it a scam? Buy 2 properties without paying absd. Rent out 1 while waiting for capital appreciation.

almost everyone is the world is cheat/rob/steal(ing) everyday:s8::s8:
 

windwaver

High Supremacy Member
Joined
Apr 28, 2000
Messages
30,768
Reaction score
1,457
Why so many advertisement video encourage people to sell HDB, decouple and buy 2 condo to generate passive income. Is it a scam?

http://www.ytreporp.com/rental_yield.php

From the data, most of the (rental - loan) passive income in the negative range excluding minus maintenance fee and property tax.

Why so many agents encouraging people (innocent people) to do this?

Agent like commission and the folk bear all the risk.

It really depends on which of the fence you sitting on.

Personally, I strongly discourage decoupling. Yes, $$ is important but there are many things in life that are also important. To me, the promise and responsibility of being together weights in more than any amount of $$.
 

bolster

Master Member
Joined
Jan 1, 2000
Messages
3,841
Reaction score
337
Decoupling is ok unless the data show the one of unit can generate passive income, but this is not the case.

In current situation, neg passive income or worst, no tenant (over supply).

If those are rich, is fine. But they target the vulnerable, over leverage.

Now so high, still got room for capital appreciation? ��
 
Last edited:

momoeagle

Master Member
Joined
Nov 1, 2007
Messages
2,787
Reaction score
509
I believe the agents are using it as a lead in. It gives the wow factor, insert a question mark into the prospect and make the prospect contact the agent.

Tada qualified prospect to sell a property to. If can really sell two then is bonus.
 

civicguy

Banned
Joined
Dec 3, 2007
Messages
36,989
Reaction score
8,332
It works if you and your partner have the “power” (a good MOP HDB flat that is positive cash proceeds, good income etc).
 

Clazav

Senior Member
Joined
Nov 7, 2014
Messages
2,279
Reaction score
298
Best comment here. Is a scam for poor but is not scam for the rich.. Haha

It is a scam to you coz u can’t afford it. If u can afford it den why is it a scam? Buy 2 properties without paying absd. Rent out 1 while waiting for capital appreciation.
 

Clazav

Senior Member
Joined
Nov 7, 2014
Messages
2,279
Reaction score
298
Why don't you think of it this way?
You wanna buy a condo, but to avoid absd, u sell your hdb.
To buy this condo, it makes more sense to use one name, so that if several years down the road if you and your spouse wanna buy another one, u wouldn't kena absd.
So there is no need for to buy 2 condo immediately after selling your hdb, which I agree it is a little risky.

Why so many advertisement video encourage people to sell HDB, decouple and buy 2 condo to generate passive income. Is it a scam?

http://www.ytreporp.com/rental_yield.php

From the data, most of the (rental - loan) passive income in the negative range excluding minus maintenance fee and property tax.

Why so many agents encouraging people (innocent people) to do this?

Agent like commission and the folk bear all the risk.
 

NiShiZhu

Banned
Joined
Jan 27, 2005
Messages
9,299
Reaction score
3,015
It is interesting to note that while Govt tries to impose ABSD on 2nd property to prevent buyers from over leveraging, it leads to another problem where everyone tries to find loopholes and go for decoupling or buying using under one name in order to buy 2.
I wouldn’t say this is scam, it is all about personal choice.

:s13::s13:
 

Clazav

Senior Member
Joined
Nov 7, 2014
Messages
2,279
Reaction score
298
Gov trying to sound concern, but if you think closely about it, it is gov that implemented the absd. Now that ppl find this method to siam absd, causing gov to profit less, mas now come out to say this, trying to sound concern

By selling hdb and buy two condos separately under two names, and save up on 12%, which is 120k for a million dollar condo, I don't see why this is not considered a prudent move. At least one has that 120k for raining days.

It is interesting to note that while Govt tries to impose ABSD on 2nd property to prevent buyers from over leveraging, it leads to another problem where everyone tries to find loopholes and go for decoupling or buying using under one name in order to buy 2.
I wouldn’t say this is scam, it is all about personal choice.

:s13::s13:
 
Last edited:

bolster

Master Member
Joined
Jan 1, 2000
Messages
3,841
Reaction score
337
I came across a advertisement, saying a person sell a HDB and buy 5 or more properties?

Is it a scam? Or how to do it?
 
Joined
Jun 10, 2013
Messages
77,266
Reaction score
59
I came across a advertisement, saying a person sell a HDB and buy 5 or more properties?

Is it a scam? Or how to do it?

in HK can spiral up and buy a new condo every month tim..........rent it out go to ask bank to loan more money to buy new condo
 

civicguy

Banned
Joined
Dec 3, 2007
Messages
36,989
Reaction score
8,332
Probably commercial. And usually as a group of investors. After paying some money to an idiot called Marko to learn some nonsense.

I came across a advertisement, saying a person sell a HDB and buy 5 or more properties?

Is it a scam? Or how to do it?
 

bolster

Master Member
Joined
Jan 1, 2000
Messages
3,841
Reaction score
337
Probably commercial. And usually as a group of investors. After paying some money to an idiot called Marko to learn some nonsense.

Actually i heard about it.

Basically, in the seminar, it will ask a group of 10 people to form a company. Everyone contribute 10%. To make it looks real, the organiser is 1 of the 10.

Then they will buy a XXX commercial property fully paid. Collect rent.

After a year, the organiser organise another seminar, form with another 15 people now. Sell this XXX property to the new group and earn the capital appreciation determine by the organiser.

The cycle repeat. A year later, the group will be 20, then 30, then 40.

The cycle goes on util the last group catch the ball. By then the organiser who is part of the group only hold minimum %. But bear in mind, the organiser earn the 2% commission when buying and selling. And the group need to pay him a small fee to manage the property!

But again, this is commercial property. Are all talking about the same thing?
 
Last edited:

henrylbh

Arch-Supremacy Member
Joined
Mar 9, 2004
Messages
15,777
Reaction score
702
Why so many advertisement video encourage people to sell HDB, decouple and buy 2 condo to generate passive income. Is it a scam?

How is that a scam? It's a good idea :s13: Who doesn't wanna to own more than one property?

Simple, just sell HDB, husband go buy one and wife go buy another one, both in own name, without ABSD .... that's is if both of you can afford.
 

lhurgoyf187

Senior Member
Joined
Feb 12, 2001
Messages
596
Reaction score
5
Actually i heard about it.

Basically, in the seminar, it will ask a group of 10 people to form a company. Everyone contribute 10%. To make it looks real, the organiser is 1 of the 10.

Then they will buy a XXX commercial property fully paid. Collect rent.

After a year, the organiser organise another seminar, form with another 15 people now. Sell this XXX property to the new group and earn the capital appreciation determine by the organiser.

The cycle repeat. A year later, the group will be 20, then 30, then 40.

The cycle goes on util the last group catch the ball. By then the organiser who is part of the group only hold minimum %. But bear in mind, the organiser earn the 2% commission when buying and selling. And the group need to pay him a small fee to manage the property!

But again, this is commercial property. Are all talking about the same thing?

Is there such a thing as little or no money down own multiple properties? Are those FB ads selling a scam?
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top