If you are single and 35 yrs old, you can buy a 2 room BTO which cost only $76k, the max. You can simply pay off the BTO flat with your $160k. After 5 years, you can sell your BTO flat for $300k, making profit of $200k plus. Then you get a small condo using the profits.
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Originally Posted by baby_predator
I currently have about 160K in cold hard cash( I know is quite pathetic, but still growing my pot of wealth has to start from somewhere right?) , and would be able to make good on monthly payments of up to 1.5K (everything including mortgage loan, condo conservancy charges, utilities bill etc ) . As a first timer, should I consider entering the market now? If so what projects would the old birds recommend?
If not, should I wait for things to cool off since a slew of measures of MAS have just been implemented and interest rates might rebound forcing more than a handful to sell off their property (aka another recession) hence enabling prices to drop substantially?
Of course during this period I am still working hard to expand my warchest.
Please advise, thanks.
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