Salary.sg Forums - View Single Post - Whats your net worth
View Single Post
  #1020 (permalink)  
Old 07-06-2013, 11:46 AM
Unregistered
Guest
 
Posts: n/a
Default

You are joking right? He bought his properties sometime back (meaning at lower values), while you are entering at this elevated price environment.

Let's look at the options.
What you have : $2.5m

Condo for own stay: $1m (at this price can only get a 2 bedder - maybe 750 sf?)
Agent, stamp and legal fees: $35K?
Renovation & furnishing: $100K (simple one)

Condo for rental : $1m (same as above)
Agent, stamp and legal fees: $50K (incl ABSD)
Renovation: $30K (enough for renting out)

Emergency fund: $250K

For 2 bedder, I think can get only $3K monthly rental? Or $36K pa. gross

If put in stocks, can get better returns (from 4-8%). Some more stock now correction, good window to go in. More manoevrable - if need cash, can sell in parts. Property not so liquid. Some months no tenants then how? Still got recurring cost, maintenance and taxes, repairs

btw are you supporting yourself only - then $2.5m is adequate to the end. If got wife, and children then by hook or by crook better get a job.

Quote:
Originally Posted by Unregistered View Post
Thanks for sharing. I'm inspired by your story. I think I will follow your footsteps. Will buy a cheap condo for stay and another for investment. Stocks looks very risky, you can see now the stock market is falling, even the dividend stocks and REITs are crashing. Property will not be like this.
Reply With Quote