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"Buy properties with little cash? It's too good to be true." - Straits Times (8 Nov 2020)

noobcarbuyer

By noobcarbuyer,
in Property Buzz

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Ginyu

Ginyu

5th Gear
(edited)

Sometimes really wonder how the salary man still can manage to purchase multiple properties even with primary residence outstanding mortgage🤣

Edited by Ginyu
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Throttle2

Throttle2

Supersonic
1 hour ago, Ginyu said:

Sometimes really wonder how the salary man still can manage to purchase multiple properties even with primary residence outstanding mortgage🤣

Through attending one of these Guru courses lor. 

Just pay $5k to attend and you will become rich instantly, anyone can do it. Sign up now!

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Meanmachine

Meanmachine

Supercharged

I do not believe in such claim, whether One has vested interest or a property investor himself/herself, there is MAS guidelines on TDSR requirement, and SSD to consider, such claim of buying properties with little or no money down has already left the market few years back by some AMDK seminar talk show and suddenly we have witnessed few local pop-up wanna be rich millenials catching on of late.

The last I remembered vividly they would asked the larger audience to stand-up to show interest if you would be keen to invest in properties during the talk-show and he would continue to ask those to remain standing up till he gets an audience of at least 10 -12 potentiasl- The scheme works like this, all the 10-12 potential audiences will be buying 2/3 properties likely being leased out under a group buy hence the potential downpayment be divided by 10 pax and the presenter would negotiate for better bargain.

The trend continue to spread to You tube video presentation , Why thy target Singapore ? main reason Singaporean aspires to own condo with tenancy to reap capital gains , thy have not factor in BSD, legal fees, maintenance fees and repairs etc and thy do take a percentage cut from the deal. . .  With little or NO Money down as deposit, How ridiculous ? Property here are big ticket item. How many could well afford?

 

if it is too good to be true, highly likely it is . . .

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Spidey10

Spidey10

Supercharged

is there such "kap lar" jumping around...if you know Cantonese...[laugh]

3 yrs ago, i did approach some property consultant that advertised sell one hdb can own 2 condo, 1 for self stay and 1 for rental.

can be done, but your debt risk and gearing shoots up overnight. Currently debt free and then become instantly owe the bank 1.2 mio loan. How to sleep at night??

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Throttle2

Throttle2

Supersonic
40 minutes ago, Meanmachine said:

I do not believe in such claim, whether One has vested interest or a property investor himself/herself, there is MAS guidelines on TDSR requirement, and SSD to consider, such claim of buying properties with little or no money down has already left the market few years back by some AMDK seminar talk show and suddenly we have witnessed few local pop-up wanna be rich millenials catching on of late.

The last I remembered vividly they would asked the larger audience to stand-up to show interest if you would be keen to invest in properties during the talk-show and he would continue to ask those to remain standing up till he gets an audience of at least 10 -12 potentiasl- The scheme works like this, all the 10-12 potential audiences will be buying 2/3 properties likely being leased out under a group buy hence the potential downpayment be divided by 10 pax and the presenter would negotiate for better bargain.

The trend continue to spread to You tube video presentation , Why thy target Singapore ? main reason Singaporean aspires to own condo with tenancy to reap capital gains , thy have not factor in BSD, legal fees, maintenance fees and repairs etc and thy do take a percentage cut from the deal. . .  With little or NO Money down as deposit, How ridiculous ? Property here are big ticket item. How many could well afford?

 

if it is too good to be true, highly likely it is . . .

Why target Singapore ?

becos Singapore got a lot of idiots with a little bit of money. That equates to one big idiot with some money.   
muayhahahahah

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Throttle2

Throttle2

Supersonic
1 hour ago, Beregond said:

Sales of resale condos hit 2-year high in October as prices rise: SRX data

https://www.straitstimes.com/business/property/sales-of-resale-condos-hit-2-year-high-in-october-as-prices-rise-srx-data?utm_medium=Social&utm_campaign=STFB&utm_source=Facebook&fbclid=IwAR3Tp56V35vyZXhJstGftbP5TRviOUbSEYaGa_tEhhRRjDTqxyPJiw7ulpo#Echobox=1604986776

 

Muayhahaha, these guys just like to play it up dont they?

most resale condos today come with either very low rent or no tenants at all.  Dont take my words for it, check it out yourselves. 

Mostly upgrader transactions and mass market condo.   This category always gets screwed, feel sorry for them, sometimes.

Good luck to Those  who think that this signals that the economy has turned around.  

Anyway huat huat huat to all.   

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Beregond

Beregond

Supersonic
1 minute ago, Throttle2 said:

Muayhahaha, these guys just like to play it up dont they?

most resale condos today come with either very low rent or no tenants at all.  Dont take my words for it, check it out yourselves. 

Mostly upgrader transactions and mass market condo.   This category always gets screwed, feel sorry for them, sometimes.

Good luck to Those  who think that this signals that the economy has turned around.  

Anyway huat huat huat to all.   

the last thing i believe is this 'the economy has turned around.🤐'

higher property sales cars sales just mean rich man is spending.  

can say another way, alot of business is not thinking of profit atm. just enough to cover pay and running cost happy enough...........

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Ginyu

Ginyu

5th Gear
(edited)
2 hours ago, Spidey10 said:

is there such "kap lar" jumping around...if you know Cantonese...[laugh]

3 yrs ago, i did approach some property consultant that advertised sell one hdb can own 2 condo, 1 for self stay and 1 for rental.

can be done, but your debt risk and gearing shoots up overnight. Currently debt free and then become instantly owe the bank 1.2 mio loan. How to sleep at night??

Got people even say they must be doing very well, earning lots  if not how can sell one hdb buy two condos🤣

Edited by Ginyu
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Ginyu

Ginyu

5th Gear
3 hours ago, Throttle2 said:

Through attending one of these Guru courses lor. 

Just pay $5k to attend and you will become rich instantly, anyone can do it. Sign up now!

where can i sign up?🤣

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Enye

Enye

Hypersonic
(edited)
29 minutes ago, Throttle2 said:

Muayhahaha, these guys just like to play it up dont they?

most resale condos today come with either very low rent or no tenants at all.  Dont take my words for it, check it out yourselves. 

Mostly upgrader transactions and mass market condo.   This category always gets screwed, feel sorry for them, sometimes.

Good luck to Those  who think that this signals that the economy has turned around.  

Anyway huat huat huat to all.   

but when i read mcf, got 1 rich mcfer recently bought a resale atas condo, did a little reno and now rented out at high rate leh

😬

Edited by Enye
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Showster

Showster

Twincharged
(edited)

Everybody at every level is looking at property now. Either upgrade HDB, condo, landed etc etc.

No joke. See the number of new threads started with old threads busy and with robust discussion ongoing.

Its a good time to set aside a portion of savings, say $300,000. Choose 1 type of investment or savings you like - property, equity, bonds, savings etc.

Then hold for 3-5 years see what actually becomes larger. Today is the benchmarking day. Even if you may not gain the most based on what you have chosen today, at least you learned something. Don't stay bitter 5 years ago, and also bitter today, and tomorrow.

I explained my views numerous times already. In my view, we are back to 2009 now. The run has just begun.

Edited by Showster
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