Another convert to property! :)

[henrylbh]

You should sell at 1.9M to UOB. Win win for both of you.

If selling bank may value higher. But if buying bank may value lower.

 

[starfish.starfish]

I wonder how many of folks here have experience of buy-sell properties before?

 

[henrylbh]

I wonder how many of folks here have experience of buy-sell properties before?

In 1998 I moved flat. In 2008, I moved again, followed by 2011 and 2013. May be moving again end of this year or 2018 and finally may be in JB as planned.

 

[OngHuatHuat]

How many of your properties are fully paid? Only the jb property?

Sometimes I kind of understand how you feel. Coz for me, I have been doing a lot of things these few years, kind of feel tired also.

I estimate myself need another 5 years before the whole model becomes sustainable. At that time, I should have at least one fully paid up property and one fully paid up life insurance.

Thanks for your confirmation . Yeah since population white paper is passed and we are already gearing up for population increase, property should do well esp since 70 percent approves of the government's plans. That explains the pent up demand and the fact that many properties did not drop much....only weak holders with fire sales explains the few that dropped like overpriced ccr properties.

He just told me he wants to sell everything though...dunno, still undecided , but he wants a good price and not Low ballers.

If we liquidate all 3 properties and buy a BTO, can then have excess cash to reinvest for proper passive income. Dunno if that is a good idea.

Another idea he has is for us to liquidate and buy separately 2 properties fully paid. Then can live in one and rent out one. Maybe 2 Private condos.

 

[focus1974]

How many of your properties are fully paid? Only the jb property?

Sometimes I kind of understand how you feel. Coz for me, I have been doing a lot of things these few years, kind of feel tired also.

I estimate myself need another 5 years before the whole model becomes sustainable. At that time, I should have at least one fully paid up property and one fully paid up life insurance.

I can pay up but I dont intend to. Property investment is all about leverage. Not risky for me coz I can choose to pay up anytime. Maybe riskier for people who cannot pay up in full but choose to leverage to the max.

 

[SBC]

Private Property Price Index for the latest Q2 2016: drops 0.4% to 140.0 now.

Hopefully cooling measures could be unwind by next year. Hopefully, early enough to save few who are q up at Bedok reservoir.

 

[mummy1234]

How many of your properties are fully paid? Only the jb property?

Sometimes I kind of understand how you feel. Coz for me, I have been doing a lot of things these few years, kind of feel tired also.

I estimate myself need another 5 years before the whole model becomes sustainable. At that time, I should have at least one fully paid up property and one fully paid up life insurance.

Only the JB property is fully paid up but we have cash and CPF to pay up the MM unit so only the Terrace has a loan...

We can alternatively choose to pay up our terrace by selling the other 2 properties...then also can rent out the terrace and rent in Malaysia for retirement...

 

[henrylbh]

Only the JB property is fully paid up but we have cash and CPF to pay up the MM unit so only the Terrace has a loan...

We can alternatively choose to pay up our terrace by selling the other 2 properties...then also can rent out the terrace and rent in Malaysia for retirement...

The loan should be on your MM unit instead of the terrace property as interest on loan is tax deductible against rental income.

 

[neanea]

What is MM unit?

 

[OngHuatHuat]

If I sell all my shares, I should be able to convert one of my Malaysia units to fully paid up. Now working hard to accumulate enough bullet inside my flexi loan to reduce my interest charge per month. Hopefully by end of the year, I will be able to reduce my current debt to 1/3 of the original value.

Sad life, having so much housing loan.

Only the JB property is fully paid up but we have cash and CPF to pay up the MM unit so only the Terrace has a loan...

We can alternatively choose to pay up our terrace by selling the other 2 properties...then also can rent out the terrace and rent in Malaysia for retirement...

 

[SBC]

What is MM unit?

Mickey Mouse.

 

[neanea]

Mickey Mouse.

What???????

 

[mummy1234]

The loan should be on your MM unit instead of the terrace property as interest on loan is tax deductible against rental income.

MM unit has loan of 60% stretched to max loan tenure. CPF OA used to pay for mortgage and there is positive cash flow as quite easy to rent out so far cause in CCR , near MRT and good food and near Geylang though address is a more respectable Sims Ave.

 

[mummy1234]

What???????

452 sq feet, popular amongst young professionals singles and couples cause of security, gym, Swimming pool and BBQ condo facilities. Same amount can rent 3 room or 4 room HDB I Guess which would be more suitable for families or Low Budget eg many Filipinos sharing a flat.

 

[OngHuatHuat]

40 % downpayment + good location is Bao jiak!
After I rented out one room for my condo, my monthly burden also decrease a lot and have more cash for my other units!

MM unit has loan of 60% stretched to max loan tenure. CPF OA used to pay for mortgage and there is positive cash flow as quite easy to rent out so far cause in CCR , near MRT and good food and near Geylang though address is a more respectable Sims Ave.

 

[mummy1234]

If I sell all my shares, I should be able to convert one of my Malaysia units to fully paid up. Now working hard to accumulate enough bullet inside my flexi loan to reduce my interest charge per month. Hopefully by end of the year, I will be able to reduce my current debt to 1/3 of the original value.

Sad life, having so much housing loan.

Wow, you can reduce debt so fast, how much do you save every month?

 

[OngHuatHuat]

I mean current Malaysia housing, sg one excluded.

Wow, you can reduce debt so fast, how much do you save every month?

 

[mummy1234]

40 % downpayment + good location is Bao jiak!
After I rented out one room for my condo, my monthly burden also decrease a lot and have more cash for my other units!

Thanks, hopefully, get good tenants for a Long time. If not, also can treat it as our retirement home in future.

 

[mummy1234]

I mean current Malaysia housing, sg one excluded.

Don't worry, as Long as your income is high and stable and you keep your expenses Low, should be able to save at least 10 -20% of your salary to slowly pay off your loan....btw, how come you cannot buy HDB?

 

[OngHuatHuat]

Every month I am able to save at least 70% of my income excluding all my housing loan repayments.

I bought my first house when I was 27 years old, I was not married yet at that time.

Don't worry, as Long as your income is high and stable and you keep your expenses Low, should be able to save at least 10 -20% of your salary to slowly pay off your loan....btw, how come you cannot buy HDB?