Million dollar cash in bank now and zero debt...Anyone?

[Enye]

Not true leh, first property was before 2008.

 

I could loan max in 2009 but missed that too.

 

If my Math is correct, next purchase will be 2021-2023 after the next set of cooling measures after property spike for 3 years.

even now with multiple loans on numerous properties

 

you still so bullish? next purchase, next set of cooling measures and another price spike in the short term?

 

no wonder you can project steady 2-3% annual capital gains on your properties over the next 30-40 years

 

 

Edited March 12, 2018 by Enye

[Volvobrick]

Don't believe everything you read in the Internet. Including MCF.....

[Throttle2]

Don't believe everything you read in the Internet. Including MCF.....

Especially MCF......

[Showster]

even now with multiple loans on numerous properties

 

you still so bullish? next purchase, next set of cooling measures and another price spike in the short term?

 

no wonder you can project steady 2-3% annual capital gains on your properties over the next 30-40 years

 

ð¬ð

Certain years it will be 5-10% as well. Remember, when my tenants start paying more than I pay the bank, just roll with it.

 

One other suggestion for the really insecure: pay up one mortgage that you live in, and it will be very easy to picture how to cope with the rest. Especially especially true for those who can qualify for first timers. How to meet the contradictory situation is up to you.

 

Just mark these words and ignore the noise.

Edited March 12, 2018 by Showster

[Albeniz]

Let me offer a different perspective to this million dollar story

 

This is the preface:

 

I think the happiest life is someone who:

 

- has a 4 room HDB flat and does not aspire to own more or bigger properties

- with a big close knit family - loving spouse, 2 to 3 kids, good relationship with parents and other siblings, uncles/aunties

- holding a stable job that neither pays too little , or pays too much (!)

- has a hobby that is fulfilling and offers a fun social circle

- is content and neither aspires or desires more wealth/recognition/fame

 

for someone like this, having/getting a million dollars in not important, but will be a happy thing, and will allow some nice treats for themselves and the family

 

---------

 

The truth is this - for someone who has earned a million dollars , usually means he is moving around in 'higher' (?) social circles

and is working in a place/industry where others also earn alot

 

such a person, with a million dollars, is less satisfied with that million dollars

because it will seem very little. Very little compared to others in the same social circles. or very little compared to what others in the industry is earning

 

you will think that how can someone with a million dollars debt free be not satisfied.... I can promise you this is 100% true

 

---------

 

So the one with less chance to have a million dollars is likely to be much happier than the one who will have a million dollars. Funny isn't it

 

I hope that my children will grow up to have the life I have mentioned in the first paragraph

which is worth a lot more than a million dollars

Very good point.

 

I belong to the first group.

 

I may not be the happiest person, but I am definitely very thankful and contented.

[Throttle2]

Would be nice for interest rates to go back to 3-4% like in the late 90s early 2000s

 

At least get something decent for my cash.

[Enye]

Certain years it will be 5-10% as well. Remember, when my tenants start paying more than I pay the bank, just roll with it.

 

One other suggestion for the really insecure: pay up one mortgage that you live in, and it will be very easy to picture how to cope with the rest. Especially especially true for those who can qualify for first timers. How to meet the contradictory situation is up to you.

 

Just mark these words and ignore the noise.

 

they say leverage is a double edged sword and so far in the last 10 years, we have only seen the good side of leverage

 

the bad side hasn't shown up yet in this time frame....in the most recent time it showed up in 2007/2008, look what happened

 

roll on in the mean time bah i guess....

 

[Showster]

they say leverage is a double edged sword and so far in the last 10 years, we have only seen the good side of leverage

 

the bad side hasn't shown up yet in this time frame....in the most recent time it showed up in 2007/2008, look what happened

 

roll on in the mean time bah i guess....

 

Actually 2007-2008 created the problems leading to huge price growth. In fact, any time the huge economies fumble, huge currency devaluation leading to price growth (uncontrolled inflation) will take place.

 

And it’s wrong to say we have only seen the good side of leverage.

 

The Govt bravely implemented the most draconian measure known to human kind called TDSR in 2013 to stem leverage. Prices dropped from 2013 to 2016 as those overleveraged and Swimming naked sold properties at huge discounts.

 

The bad side showed itself for the longest duration in SG history, even though the amplitude of fall was not as great as naysayers hoped.

 

Rental prices were the lowest I experienced in recent years actually and it can only get better.

[Volvobrick]

Would be nice for interest rates to go back to 3-4% like in the late 90s early 2000s

 

At least get something decent for my cash.

USD getting to 3% very soon... Before end of this year!

[CH_CO]

USD getting to 3% very soon... Before end of this year!

Wah jin eh BOH, then I quickly short the near term treasury Liao

[Showster]

USD getting to 3% very soon... Before end of this year!

It should match with USD falling below 1.30 SGD soon.